How do I make an international money transfer with Fonmoney?
To transfer money to a bank account with Fonmoney, there are just a few simple steps.
- - Visit www.fonmoney.com, select the country, and then choose the option "Transfer money online."
- - Enter the recipient’s name and IBAN
- - Enter the amount you want to send. *
- - Make your payment by credit card or Sofort Banking.
That’s it! Once you pay, we take care of the rest and make sure your money transfer is safely sent to the beneficiary's account.
*ATTENTION! Depending on the amount of money transferred, we may request some information from you. We are regulated by the Financial Conduct Authority, and are required to verify our customers in order to ensure that all money transfers are safe and secure.
What should I provide as information or documents to send money?
- - For transfers of up to €100.00 you are not required to provide any documents or information.
- - For transfers between € 100.01 - € 500, we must verify your identity as required by the Financial Conduct Authority. In this case, we need to confirm your current address (where you currently live) or attach a copy of your passport as a .PNG or .PDF file that is more than 800 px wide. Attachments as well as the expirations date must be clearly visible.
- - For larger transfers of €500 or more, we must verify your address, as well as ask that you upload one of the documents listed above.
How long does an online money transfer take?
Normally an online money transfer Fonmoney takes 1-2 business days, though in some cases security checks can cause a slight delay. If you are transferring a larger amount, Fonmoney may request some additional information, in compliance with the international regulations imposed by the Financial Conduct Authority.
How can I see the current status of the transaction conducted?
In order to make a money transfer on Fonmoney, you will need to register. Once the registration has been confirmed you can log into your account anytime, and view the details of all your transactions.
Is it safe to transfer money online with Fonmoney?
Fonmoney is an authorised payment institution acting according to regulations imposed by the Financial Conduct Authority (FCA) and controlled by HM Revenue and Customs (HMRC). By complying with all requirements and regulations of these institutions, we are able to ensure safe and reliable money transfers.
Fonmoney not only secures its safety in its role as a payment institution, but also by providing a secure website. You can find more details on the safety of the website here.
What commission is charged to transfer money online?
At Fonmoney all money transfers are free, we do not charge for your transaction.
How much money can be transferred for a single transaction?
Each customer can transfer a maximum of €2,000 per transaction.
Is there a maximum transfer amount permitted per month?
Yes. At Fonmoney you can send a maximum of € 3,000 per month. That means you can transfer money from abroad from various bank accounts but only without exceeding € 3,000 per month.
Can I send money online on any given day?
Fonmoney itself, and its website are available to you any time, and you can place your order at any time, but it will only be processed on a regular banking day for the recipient country.
What exchange rates does Fonmoney offer for online money transfers?
Fonmoney offers the best exchange rates!
Attention! If your money transfer takes place outside of trading hours, the foreign exchange rate is likely to have altered by the time business starts up again. If such changes take place, you will be notified by e-mail. We reserve the right to adjust the exchange rate while the markets are closed (on weekends, on holidays) to avoid potential losses due to varying exchange rates and to ensure that money transfers of our clients are made successfully to the end.
We live in a time where almost everyone at some point or another thinks about going abroad for work or travel. To do this though, you will have to say goodbye to family and friends back home, and start all over in a new country, maybe learning a new language, getting used to a different climate, a different culture. And though it may be hard at first, we often recover from being homesick and see the benefits of being abroad.
Get in touch from far away
Those who live away from home already know that there are some joys you can only achieve once you have gone. That first job, the first time you understand a cultural reference, or recognise a local custom - and when it happens, you want to tell your people back home!
I found a job! This is probably one of the first events that those back home are waiting to hear. After moving away, you finally found that job that will help secure your decision and future. Hearing the joy and congratulations from those who care about you is what finally helps the good news sink in!
I’ve met someone. There is a time for work, but there is a time for play too. See things, go places, meet people, and perhaps even fall in love! When you meet that special someone, you are just aching to tell your friends and family back home of your happiness.
I achieved a goal! Finished studies, a new car, a promotion in the workplace - life away from home is often an accumulation of individual steps that are achieved one by one. And every time another level is reached, you are filled with great joy, joy that needs sharing!
I’m coming to visit! No matter how well you are doing in your adopted home, there is a spacial place in everyone’s heart for where they come from. And sometimes, you are lucky enough to go home to visit for special occasions, or to get some much needed respite. Who is happier at the news that you are visiting - you or your mother?
We are having a baby! This is certainly the best news of all, but once it’s out, the phone will not stop ringing with people calling to congratulate and suggest names and ask for any and all new information, everyone wants to be a part of this special occasion!
Anyone who lives away from home knows that keeping the connection alive is one of the things that can keep us going day to day. Fonmoney helps you stay in touch with your loved ones in the fastest, safest and most affordable way on the Internet, so that you can share your good news at any time. To learn more, just visit this link!
10% Discount until 14 October!
Hurricane Matthew has swept over several countries, leaving behind uncertainty, fear and destruction. Here at Fonmoney, we are shocked, and want to show our condolences to all Cuban, Dominican and Haitian families affected by the disaster.
With this measure we want to help everyone get in touch with their loved ones after the disaster. We are aware of how important it is to know our relatives in these difficult times, so we want to give our full support by reducing our prices, while offering, as always, the fastest and most secure way to hear from their island.
We also want to give you the chance to send money directly to those you are worried about, friends, family, loved ones.
Fonmoney sends its condolences and compassion to the victims of the terrible devastation and hopes it will not happen again.
We are all thinking of you,
Your Fonmoney Team
Fonmoney is excited to announce that it has launched a new country! Fonmoney’s newest edition is Cuba with its sole mobile network operator Cubacel. Cubacel can be topped-up with 10 CUC, 20 CUC or 30 CUC. As usual, Cubacel can be topped up without registration in three short steps. The top up can be paid with paysafecard, Sofort Banking and by credit card. Also watch out for Cubacel double bonus offerings. During this bonus period, Cubacel gives ist customers 100 % on top of any top up made. For instance if you top-up 20 CUC you will get 40 CUC, that means you get 20 CUC on top of your recharge. To stay up to date when the next Cubacel double top-up bonus is coming, connect to our Facebook Cuba site. We are excited to help you send top up to your friends and family in Cuba.
Finally Fonmoney has added another currency that polish people can use to top up mobile credit of their friends and family in Poland or even their own prepaid phone. The top-up for Plus, Orange, T-Mobile, Heyah and Play can be paid via credit card and paysafecard from Norway. If you pay in NOK from your Norwegian bank account, you don't pay any extra fees to your bank and you don't have to convert the currency into Euros or Polish złoty.
The great thing about topping up your polish prepaid card via Fonmoney is that you don't have to register. All you need is the phone number you want to top up and your payment details. So topping up your Polish SIM is very easy and now it has become even more convenient to send mobile top ups by paying in various currencies, including Norwegian Krone.
Fonmoney has is increasing it’s reach in Eastern Europe by adding Ukraine to its list of mobile top up countries. It is now possible to recharge prepaid phones of Kyivstar, MTS, Beeline, life :) and Utel. All mobile network operators can be recharged with 60 UAH, 80 UAH, 100 UAH and 200 UAH. You can top-up all prepaid Sim cards via credit card, Paysafecard or SOFORT Banking (bank transfer). Try an instant top up to your Ukraine friends and family today!
Fonmoney is excited to announce our new country Egypt. You can now recharge any prepaid mobile number from Vodafone, Mobinil and Etisalat Egypt. Support your friends and family by sending mobile credits to Egypt.
Recharge Vodafone Egypt onlineRecharge amounts for Vodafone Egypt: 50 EGP and 100 EGP. You can buy mobile credits for all prepaid packages (el cart) online from Vodafone Egypt.
Recharge Mobinil Egypt via the internetRecharge Mobinil online with 50 EGP, 100 EGP and 200 EGP. You can recharge all of Mobinil prepaid packages (Alo) online now on Fonmoney. Transfer mobile credit to your friends and family in Egypt.
Recharge Etisalat Egypt on Fonmoney.comRecharge Etisalat with mobile credits of 50 EGP, 100 EGP and 125 EGP. You can recharge all of Etisalat prepaid packages (Ahlan, Roya, Ahly Control, MiniMix, Welcome and Etisalat Club) online on Fonmoney.
Orange, Vodafone and Cosmote mobile credit transferIn Romania the prepaid customers of Orange, Vodafone and Cosmote can send mobile credits within the each network. The Transfer of money between two numbers allows people who share their mobile credits with each other. This could be the case when somebody is recharging their phone and distributes the mobile credit within his family. The network operators still strictly regulate the transfer of mobile credits in Romania. They impose limits on how much and how many times you can send mobile credits to other prepaid phones. Nevertheless this useful feature is free of any charge for the customer. Mobile money transfer also plays a vital role in remittance. People who live and work abroad can send their family and friends mobile credit, for instance via Fonmoney. The people who receive the top up can then distribute it again to their friends. This saves the sender extra charges for the top up. For instance could a Romanian diaspora who lives in Italy top up his wives phone, who still lives in Romania, and she could distribute the mobile credits within the family, for free and the husband would only have to top up one number instead of many.
Mobile credit transfer – Orange RomaniaYou can send mobile credits from one Orange prepaid card to another Orange prepaid card by dialling the code (free of charge) *100#. Here you will enter a display menu where you have to follow the instruction. You can send between 1 and 3 Euros worth of credits. Once the mobile credit transfer has been successful, the sender and the receiver will receive a short text message, stating the amount that has been received, or rather deducted. Orange Romania limits the amounts of transactions to other prepaid cards to 3 times each month. The validity of the receiver’s prepaid card will extend for 5 days and is also restricted from making any further recharges for 30 days. The use of this service is free of charge and the transfer of the mobile credit is free as well.
Mobile Credit Transfer – Vodafone RomaniaVodafone Romania has various ways of transferring mobile money between two prepaid phones. You can log on to your Vodafone account you should find under menu point Services – transfer credits Alternatively, you can dial *100#. Here a menu will show up where you have to select 1. My Account, 2. Credit in advance and SOS Services and 3. Transfer Credit Another alternative is to call *222 and select the option 1. Your Credit and Services 2. Out of Credit? and 3. Offer/Ask for Mobile Credit. Vodafone Romania allows transfer mobile money in values of 1 Euros, 2 Euros and 3 Euros. The receiver of the mobile credit will receive a short message with the details about the mobile money transfer.
Mobile Credit Transfer – Cosmote RomaniaYou can transfer mobile credit within the Comsote network with this easy to use code: *444* amount*number# One example could look like this: *444*3*0760001000#. Once the code has gone through, you will receive a text message from Cosmote with the transaction details. If all the details are correct you will have to dial *444*1# to confirm the credit transfer. Remember: you can only send values of 1, 2 or 3 Euros. The receivers activity period will extend for 7 days when one euro is received, for 13 days when two euros are received and for 21 days when three euros are received.
Romania is one of the top receiving countries of remittance. In a study carried out in 2006 by the ifad, the total inflow of officially registered and classified remittance to Romania constituted of 3.9 percent of the total GDP of Romania. Since then the remittance has risen and reached its high in 2008 with 9.38 Billion US Dollars. It is estimated that over 50 percent of remittance flows to the rural areas of Romania. This is especially relevant since estimates show that only 23 percent of the population in Romania is using financial services, meaning that 77% don’t use any financial services, which is traditionally most common in rural areas. The costs of sending money to Romania can be relatively low when carried out between two banks, but if you don’t have a bank account this is insignificant. Furthermore, a bank transfer takes traditionally between 5-7 working days. It can be assumed that therefore most official remittance takes place through Money Transfer Organisations (MTO) such as Western Union, MoneyGram or Moneybookers, but it can also be assumed that a large amount of remittance is unaccounted for and is remitted through unofficial channels. The MTO’s tend to have better networks than banks and are much faster (claims of under-one-hour delivery). The downside of these companies is that they are very expensive when you want to send small amounts, of less than 100 euros. The fees are as high 21 percent (World Bank, 2013), which is very high.
A shift to mobile credit transfers in RomaniaIncreasingly Romanians working abroad are using mobile credit as a source of remittance. They buy mobile credit for Cosmote, Vodafone Romania and recharge Orange Romania prepaid phones online. By sending money through this channel, the credit is delivered instantly and received on the mobile device. The costs are much lower for small amounts ranging from 7 to 25 percent (On Fonmoney between 7 and 10 percent), depending on the amount of mobile credits purchased. Mobile credits becomes particularly interesting for people who are unbanked, are on-the-go or lack the availability to collect cash from a partner of one of the MTO’s. Since the mobile saturation in Romania lays around 114 percent (New Media Trend Watch, 2013), it is safe to say that mobile credit has the potential to reach the whole population of Romania.
Remittance vs. Mobile Credit – the pattern reoccursWhen analysing the remittance sent to Romania (World Bank, 2011) with the amounts of mobile credits sent to Romania, it becomes clear that the remittance-flow and the top up flow show a lot of similarities. The highest remittance flow and the highest mobile credit flow into Romania stems from Italy with 29.33% and 37.15% respectively. Other countries such as Spain, Germany, the United Kingdom and France are also well represented in both flows into Romania.
What needs to happen in the future of remittance?Romania benefits from all levels and varieties of remittance that enters the country: money is being saved and invested, consumption is increasing and general wealth is increasing. The trend needs to shift towards cheaper remittance and a wider array of possibilities. The needs of the sender and receiver are not fully met and need to be fulfilled to increase and facilitate remittance. The World Bank estimates, that when prices for remittance fall by 5 percent up to 16 million USD could be freed up to be send back home. It can be assumed that mobile credit is working as a supplement of classical remittance. A study conducted by Berg Insights predicts that the mobile money transfer market constituted of 350 million USD in 2011 and is growing at a rapid pace. For remittance levels to increase further through official channels, such as MTO’s and mobile credit organisations, Romania needs to further facilitate these flows and impose less laws that constrain the private sector to find further solutions to send and receive remittance. This would free up more and increase the flows of remittance that would enter Romania.
The transfer of mobile credits within Poland is only possible within the mobile network of Plus. The exchange of mobile credits between other networks to share and distribute your mobile money to friends and family is traditionally not possible but in some cases within one mobile network, even though sending mobile money between friends and family could be a great way to support friends and family. Sending money is already well established in various countries, a prime example are the Philippines, it has not fully been established in Poland, with the exemption being Plus. SimPlus is the second largest mobile network in Poland and also one that is appealing to the younger generations with innovative products. Plus offers the transfer of mobile credit between prepaid phones for a couple of years now. The service of mobile money transfer by Plus is called “Teleprzelew”“ and is operated through SMS codes. To transfer your top up to another Plus prepaid phone, you have to send a text message to 5511 containing the text “P [Amount] [Plus Number]”, for example “P 15 600 666 666”. Once the message has been send, you will receive a SMS by Plus with the details of the transfer request, including the Plus number that will receive the top up and the amount of mobile money you want to send. If the details are correct, send a SMS within 15 minutes to 5511 with the word ‘TAK” (yes). Plus will charge you a fee of 5 gr including VAT for the transfer of mobile credit. You can only send and receive 20 PLN within a period 30 days. Receiving top up from another prepaid number will not extend the validity of the Plus Sim-card.