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Frequently Asked Questions


Individuals and businesses who need to send money in foreign currency internationally can use MTFX’s services. The beneficiary of the transfer must have a bank account for the funds to be paid into. Personal clients usually use our services to transfer money between their own accounts in two different countries. Business clients usually use our services to transfer funds to suppliers, fund international operations, or repatriate overseas earnings.
All you need to do is complete a simple online form to register with us. Our online application processes are quick and easy, and, in most cases, you can book your first deal on the same day. MTFX offers both personal and business accounts. Click here to get started.
Absolutely. We would love to talk to you about any questions or concerns you may have. Just call our dealing desk and one of our currency specialists will be happy to assist you. Canadian and U.S. clients can call our Canadian/U.S. dealing desk at 1-800-832-5104. Registering with MTFX gives you access to our online platform so you can easily send and receive international transfers. You also get access to our dealing desks and currency specialists who can give you live market quotes over the phone. Signing up with MTFX is free and there is no obligation for you to trade or make payments through us. It simply gives you access to our great tools and resources. You can even log into our online dealing platform for a free quote to compare our rate to that of your bank. Ready to register? Click here.
We are committed to the highest standards in quality and safety. Therefore, to comply with regulatory and compliance requirements, we need to know details like who you are and where you live. We never share any of your data with anyone else and we store all customer information securely. For further information, please refer to our privacy policy here.
You do not have to switch from your current provider. You can log onto our payment service without any obligations or commitments, you can even simply use it to compare our rates to those of your current provider and keep your existing provider honest.


MTFX offers currency exchange rates that are 2-5% better than those offered by the banks. Personal clients usually save hundreds of dollars per transfer and for larger transfers, the savings can run into the thousands. We also offer excellent customer service, dedicated currency specialists, and a 24/7 online platform with best-in-class technology that allows you to complete transfers from any device virtually anywhere in the world. Business customers save with better currency exchange rates and proven solutions geared towards managing and mitigating foreign exchange risk. Our solutions include forward contracts, market orders, rate alert services, and much more - all backed by great technology and great people.
The MTFX Group of Companies is a global solutions provider of currency exchange and international payment services for personal and business clients. Since our launch in 1996, MTFX Group has grown to be a leading provider of foreign exchange and global payments. We hold client funds in segregated accounts with highly rated financial institutions, while operating a low risk business model where no outgoing payments are released prior to client funds being received to fund transactions. We are a registered entity with regulatory authorities in both Canada and the U.S. and is also a licensed money transmitter with the regulatory agencies where MTFX is licensed to conduct business.


Funds can be transferred via wire transfer, Electronic Funds Transfer (EFT), or ACH payment services. MTFX maintains bank accounts in all major currencies with highly-rated banks. Our banking infrastructure ensures that you can transfer funds to us quickly and securely.
If a recurring transfer is cancelled or terminated, we will sell the balance of the purchased currency and buy back the balance of the original currency. Your advance payment (deposit) will be returned minus any losses that may have occurred due to exchange rate variations. If the deposit does not cover losses, you are obligated to transfer the owed amount.
Yes, the maturity date (the date we make the transfer to your recipient) can be extended by changing your single transfer to a Forward Exchange Contract. If you would like to switch your single transfer to a Forward Exchange Contract, you will need to speak with one of our transfer experts. This is only available for transfers made with major currencies and the exchange rate will change according to the interest rate differentials between your currencies. Once you have made the switch, we will require a deposit, and the balance is due a few days before the maturity date of the contract. Then all that is left is for us to complete your transfer on your chosen date.
Yes. Simply login online to lock-in your rate, provide us with your beneficiary details, fund your transaction and leave the rest to us.
For recurring transfers, or fixed payment plans, an advance payment is necessary to cover any market risk exposure we may face. No deposit is necessary for non-fixed payment plans. The deposit is the equivalent of one installment, and you will need to transfer it together with your first installment. Please note that the deposit is not a fee and we will use it to pay off the last installment of your recurring transfer plan.
Nothing! There are no extra transaction costs or fees involved when you set up a recurring transfer, just the added peace of mind knowing your payments will always be made on time. You simply pay your regular installment and the advance payment (deposit) as agreed in the transfer plan and we will complete the transfer at the agreed exchange rate.


Our global network of banking partners allows us to get funds to virtually anywhere in the world quickly and efficiently. Most wire transfers from MTFX will be received by your beneficiary within 24-48 hours. MTFX also offers same-day transfers that are almost instantaneous, as well as low-cost in-country payment services for your less urgent transfers. For further information please speak to one of our currency specialists.


MTFX’s rates are fair and transparent which can save you thousands on your currency transfers. The rate you receive is based on the interbank market rate and because we transact large volumes, we pass on the savings to our clients. Compare our rates to your bank and see what the difference really is, you will be surprised at how much you can save.
We maintain a low, standard transfer fee of $15 for transactions less than $10,000. Any transactions over $10,000 will have no fees. Compare this fee with your bank, who will typically charge you $40-50 in transfer fees.
Dealing with MTFX is easy. Simply register with us online for instantaneous access to our online dealing platform. After you complete your registration, an MTFX currency specialist will call you to discuss your transfer and make sure the platform is set up and customized to meet your needs. For more information about our online platform, click here. You can book your exchange rates with us 24/7, manage your beneficiaries, and send funds seamlessly from any device. We have made it that simple!


For your beneficiary to receive funds in a timely manner you will need to provide us with your beneficiaries’ name, address, account number, and their SWIFT/ABA/Sort Code or IBAN number.
To send your funds for same day or next day value, your settlement must be completed by a certain time. Varying cut-offs will apply, depending on where you are sending money and/or which currency you are purchasing. To find out more, just speak with one of our knowledgeable currency specialists, any of whom will be happy to answer any questions.
Yes. Our online payments platform is available to you 24/7 from any device, anywhere in the world. It is streamlined, efficient, and easy to use – simply book your deal, select your beneficiary, and confirm your transfer. We have made it as simple as 1-2-3!
Yes, we will send you a confirmation email as soon as we have sent the funds to the recipient’s account.


Forward contracts allow you to purchase currency now and pay later. Both personal clients and business clients can use forward contracts. If you see a great rate but do not need to transfer funds until a later date, we can lock in the rate for you and essentially freeze time. For more information about forward contracts, click here. Alternatively, you can reach out and speak to one of our currency specialists.


A market order can help you achieve your ideal rate and send foreign currency at a guaranteed rate. If you are flexible on the timing of your purchase, it is an ideal tool to manage the cost of your foreign currency transfer. All you need to do is tell us what rate you want to trade your money at, and we will book the deal for you when the market reaches your rate. For more information about market orders, click here.
Booking in your deal when the markets are in your favour can make a huge difference. Our automated market watch services notify you via email or SMS texts when your target rate is achieved. There are no obligations once your rate alert hits. It is actually a great way to keep updated on what is happening in the currency markets. To set up a rate watch and start monitoring the market click here.


With MTFX, you can transfer funds in 100+ currency pairs. Check out our supported currencies list for the currency you need here.


MTFX can send funds to 140+ countries. Click here for a list of where we can send international transfers to.