Frequently asked questions about money transfer service

Is it safe to transfer money with Fonmoney?

Yes, Fonmoney is secure and trustworthy. We are an Authorised Payment Institution (API) and are licensed by HMRC and regulated by the Financial Conduct Authority (FCA) in the UK. This means that both your data as well as you money are completely safe with us.

What countries can Fonmoney transfer money to?

All the current countries where you can send money to can be found on our homepage.
You can also check out our website: Transfer money abroad

From which countries can money be transferred from with Fonmoney?

If you are anywhere in the European Union and have a bank account in Euros, you can send your money safely and quickly with Fonmoney. Fonmoney´s transfer service is also available to users from Liechtenstein, Iceland and Norway as long as they have an account in Euros.

Can I send cash with Fonmoney?

Fonmoney does not offer cash transfers at the moment. However, you can send money online directly to a bank account by using your credit card or your online bank account.

Can my beneficiary receive the money cash?

In some countries it is possible for the beneficiary to recieve the money in cash. In order to see if this option is available for your country of interest please select in our website the country you want to send money to.

Is Fonmoney a bank?

Fonmoney is not a bank, but we are just as safe and secure! Fonmoney is regulated by the FCA (Ref. No 722528) and licensed by HMRC under license number 12579512. This way we are able to guarantee the security of your data, money, and transfers.

How can I send money with Fonmoney - Step by step

Making money transfers with Fonmoney is simple, fast and safe.

In order to start your transaction please visit our website and select the country you want to send money to. Then
1. Enter the amount you wish to send.
2. Enter the location, name and IBAN of the recipient.
3. Register/log in.
4. Depending on the amount you want to send, we might need to verify your identity.
5. Pay for the transaction with a credit card or SOFORT transfer. Alternatively, you can also make a transfer directly to our bank.

Once the transaction is entered, Fonmoney will keep you up to date on your transfer's every step.

How can I send money to a bank account using Fonmoney?

Fonmoney allows you to send money to bank accounts in various countries. To do so, you only need to enter the recipient's IBAN and their first and last name. Fonmoney is legally bound to obtain certain personal information from our customers, so we might have to ask you to verify your identity through your passport or official ID and/or to provide a proof of address, rest assured that your data will always be handled confidentially and securely. In the majority of cases, customer verification will only be required once. Please consider that transaction will take 1 or 2 business days to reach their destination.

How long will it take for the money to reach the beneficiary's bank account?

Fonmoney transactions usually arrive to the recipient’s bank account within 1-2 business days.
ATTENTION! If you are making a transaction on a weekend or a banking holidays (this applies to the country you are sending from, as well as the country you are sending to) please keep in mind that the transaction will be processed on the next business day.

How much do I pay in fees for Fonmoney money transfer services?

Fonmoney’s goal is to always be the most affordable option and to offer our customers the best exchange rates. Fonmoney can help you avoid high banking fees and save up to 80% of the transaction fees.
And as always, there are no hidden fees with Fonmoney! Once you type in the amount you want to send, you will see how much you have to pay, and that's it!

Why are the fees so low with Fonmoney?

Our goal is to offer different target groups, especially to expats and business people, affordable international money transfers. We are daily working on this and improving our service! With Fonmoney you can save up to 90% fees! That means that you can support your family at the best deals - We are fast, safe and affordable.
Plus, our service is available only online and without administrating local agencies or representative personnel we can save substantial costs when compared to financial institutions which in the end translates into offering you more affordable and fast money transfers!
In comparison to other financial institutions, our service is available only online. Without administrating local agencies or representative personnel we save substantial costs and in the end we can offer you such affordable money transfers!

Which banks can I send money to when using Fonmoney?

You can send money to any bank in your recipient's country. Keep in mind the beneficiary's bank account has to be in the local currency of that specific country.

May I send money at anytime with Fonmoney's bank transfer service?

Fonmoney is an online service that allows transactions at any time, so you can send money 24/7, regardless of the day or time.
Please keep in mind that should transfer on a weekend or on a bank holiday, either in the sender or reciever country, your transaction will be processed during the next business day.

How can I find out what the exchange rate is before I confirm my transaction?

You can check our current exchange rate on our website at any time. Choose the country you wish to send money to and then select “online money transfer”, you will be shown the exchange rate for that country.

How can I pay to make a bank transfer on Fonmoney?

When it comes about online money transfers, Fonmoney offers three payment methods: - Payment via credit card (Visa, Mastercard, Maestro*) - Payment via Sofort Banking (if your bank account is at a bank in Austria, Germany, the Netherlands, Belgium or Poland). - Transfer directly to our bank *The payment with Maestro will depend on the card's issuing bank.

How can I pay for the transaction if I don't have a credit card?

In order to send money from your bank account to another bank account abroad, we offer you the ''SOFORT Banking'' payment method. To make use of it you only need your access information for online banking. Just fill in your information and you are all set! You can also transfer the amount directly to our bank.

How do I pay my transaction with a bank transfer?

If you choose this option, the money transfer is connected with a small intermediate step. You have to be sure the money gets to us so we can complete the transaction. It is easy: you will receive a transaction overview at the end of your order. There you will see all transaction details, a reference number and the Fonmoney bank data. Now you have to transfer the selected amount to Fonmoney. You can do so with online banking or in the bank of your choice. As soon as we receive the money we will complete the transaction. The receiver and you will be informed by e-mail when the money has been transferred.

What is a reference number for a transaction via bank transfer and where can I find it?

You can find the reference number for a transaction via bank transfer at the end of your transaction order. All of the shown data will be sent to you via e-mail as well. The reference number is important so we can assign your transaction and complete it as soon as possible. The number should look like this: FON-12345678910-12345.

What happens if I lose my reference number?

Please contact our customer service [email protected], we are happy to help you and will send you your reference number again.

How much time do I have to make the payment via bank transfer?

Fonmoney will keep the transaction data for three working days.

Will I have bank charges for my transfer to Fonmoney?

There will be costs of a SEPA transfer, which is incurred by your bank.

What is a 3D Secure Password ?

3D secure is a technology developed by Visa and MasterCard to combat anti-fraud by raising the security standards for online payments.

If you have a Visa or MasterCard, you can contact your bank any time to activate the 3D secure password. Depending on the country and the bank you are using, you will receive certain instructions regarding the activation of the 3D Secure Code. In some cases you will receive a password from the bank which can then be changed at a later date. In other cases you will receive mobile TAN codes from your bank, which can be used for online payments.

What are the CVV and CVC codes?

The CVV is the card verification value and the CVC is the card verification code. They are both 3 digit codes that can be found on the signature side of the credit card.

Is my payment and personal information safe?

The safety of your banking and personal data is most important to us. Our website has an SSL certificate which encrypts your data and avoids it falling into the wrong hands. Please be reminded that your data, both personal and payment, and any document we might ask of you will be used only to verifiy your identity while making a money transfer.
For more details please read our Terms and Conditions.

What happens to my personal information?

Fonmoney handles your personal information and data securely and confidentially. This data is only used for your transactions and verification processes related exclusively to our services. For more information please view our Privacy and Cookie Statement.

How do I know if my transfer has been completed?

As soon as Fonmoney has sent the money to your beneficiary, you will receive an e-mail. You can also check the status of your transaction at any time through your Fonmoney account.

Can I send recurring payments automatically?

No, we currently do not offer this option.

Is there a limit to how much I can send?

Depending on the receiver's country there are different limits imposed by the European financial regulators.

How can I register to make money transfers with Fonmoney?

In order to register with Fonmoney, just go to and click on the link “REGISTER” in the top right corner. You can register with your e-mail address or alternatively with your Facebook account. Your information is safe!

ATTENTION! The data entered during registration must match your official personal data!

Do I have to enter my real name during the registration process?

When registering with Fonmoney please make sure you introduce data that matches your official ID documents and residential address, especially if you want to make a money transfer. Nicknames or Initials won't be accepted and may delay both your registraton and use of Fonmoney's services. As mentioned, It is important that information you enter matches your official ID, this will allow us to quickly verify your identity and speed up the transaction process.

Why do you need to verify my identity and how long does that take?

Fonmoney is regulated by the FCA in the UK and has the highest security standards set in place. In order to comply with FCA and European rules and regulations, we are obligated to ask for certain personal information for identity verification prurposes. Information required could be asked of you depending, but not limited to :

- Country specific regulations
- The amount of your transfer exceeds a certain limit
- Your transaction frequency

When making a bank transfer, depending on the amount being sent, we may need to verify your identity by going through a simple verification process with of our approved partners.

Once you have been sucessfuly verified, you will be allowed to continue with your transaction. In most cases, the verification process is one-time only.

How often does Fonmoney have to verify my data?

Depending on the amount you want to send, we are obliged to eventually verify your personal information. This verification only takes place once, though in certain cases we may require additional documents.

What documents do I need in order to make a money transfer with Fonmoney?

Are you ready to transfer money with Fonmoney?

We certainly are! But first, we want to get to know you just a little better. Depending on the amount you want to send, we are required by the regulations of the FCA to confirm your identity by verifying your documents.

We have to make sure that your name, birth date and adress match one of your officials ID (Eg. Passport).

When transferring bigger amounts, it is necessarily that we verify your address and at least one of your official ID. We will also need that you take a live selfie and to add a social account. (For eg. Facebook). In some cases we might also need a copy of your utility bill where your current adress is visible. Once we get all the information needed, you can continue with your transfer.

How do I upload the documents required?

As soon as you start your money transfer, you will be asked to complete certain fields in every step. Over the course of the process, the system will (depending on the amount being sent) automatically request certain documents. We may ask you to upload these documents so that we are able to verify your identity and process the transaction. Please follow the instructions on the verification platform when this happens.

Do the documents I am uploading need to have a certain format?

For us to quickly verify your identity, we ask that you upload them in a PNG, JPG or PDF format, with a width of over 800 px.

Attention! The uploaded documents must be clearly visible and not blurry, so that your personal information is easy to read.

What address should I enter for the verification?

When you make a bank transfer abroad it is necessary that we get some personal information from you. This includes your current residential address. Please keep in mind that you enter your main address, not a secondary address.

How long after my documents have been uploaded will I be free to make a transfer?

The verification process offered by us and our partner Hooyu can take between 10-15 min. Before starting with the verification, make sure that you have your documents around you. For example your ID, passport or driving license in .JPEG, .PNG or .PDF format. If you have a smart phone with a quality camera and internet, you can also upload your documents by using it.

Please make sure that the uploaded documents are clear and thier margins are also in the picture. Thanks to our modern verification system you can upload them directly from your mobile phone provided that it has a camera with acceptable resolution lense and internet connection.

What can I do if my documents cannot be uploaded or if my identity cannot be verified automatically?

If there are any difficulties in uploading your documents or verifying your identity, please do not hesitate in contacting our Customer Support at [email protected]! We will try to find out why your verification could not be finalized.

Is it possible to send money to an Euro account?

Yes it is, as long as the currency of the country you are sending money to is Euro.

What happens if I make a mistake while typing the IBAN?

If you have made a mistake while typing the IBAN and confirmed the transaction, please contact us AS QUICKLY AS POSSIBLE at [email protected].

We usually start processing your transaction as soon as payment has been completed in order to send the money as quickly as possible. For this reason it is of UTTERMOST IMPORTANCE that you contact us immediately in case there is still enough time to halt to process.

Can I resend a transaction I’ve made before without entering the data all over again?

Yes! To do so, just log into your account and go to your transaction history.

Click on the transaction desired and then the “send again” button. You will be redirected straight to the check-out (without filling out the recipient's data), and that was it! The money transfer is processed immediately and the money will arrive shortly.

Do I need a phone to send money online?

No. It is not necesarily to use a phone or a tablet to send money. However, if you want to use one of these devices,of course you can do it. Our webpage is optimized also for the mobile use so that you can easily proceed with your money transfers.

Can I make a transfer from my phone or tablet?

Yes. With Fonmoney you can send money online also by using your mobile phone or tablet. Our webpage is optimized also for the mobile use so that you can easily proceed with your money transfers.

Where can I find my transaction ID or what do I do if I have forgotten my Transaction ID??

Registered users will find all their transactions listed under "My Account".

If you have forgotten your Transaction ID, please contact our customer support team at [email protected] and tell us your full name. You can indicate us also the date, the IBAN or the recipient's name. The more details we have, the easier we can find your transaction in our system.

Where and how do I check the status of a transaction?

In order to check the transaction status, you must be logged into your Fonmoney account.

As soon as you are logged in, click on the sub-menu “My Transactions”, and you can check the status of any transactions.

Why was my money transfer order rejected?

There are various reasons this may have happened, depending on the individual case and transaction. If your money transfer was rejected or not completed, we will get in touch with you as soon as possible.

And you can, as always, contact us directly at [email protected]!

Who do I contact if I need help?

"Do you have questions about your transactions, or require additional information about our services? If you do, just ask our Customer Support at [email protected]! We are happy to answer any questions that may come up."

What is HooYu?

HooYu is our partner with whose support we are able to verify your documents.

You can read more about this partnership from our article.

What is an IBAN?

IBAN stands for International Bank Account Number. It is attached to bank accounts in most of the EU. This alphanumeric code tells us the name and location of the bank as well as the account number and the person the account belongs to.

What benefits are there for making a money transfer with Fonmoney as opposed to SEPA?

Making a money transfer with Fonmoney has several benefits:

- Compared to SEPA, where the money transfer is only possible from one account to another (and with additional costs for currency exchange rates), Fonmoney allows you to send money into an account in the correct currency.
- Fonmoney always offers the best exchange rates.
- Faster money transfers: The recipient will get the money within a maximum of two business days.
- low fees, independent of the amount sent.

What is a SEPA transfer?

SEPA (Single Euro Payments Area) is the name for transactions made within the Euro-zone, which has the intention of simplifying international money transfers and removing the differences between national and international money transfers. SEPA was introduced to ensure lower costs and faster money transfers.

What countries belong to the SEPA zone?

The SEPA zone includes all countries of the EU that use the Euro: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain.

The countries of the EU without the Euro: Bulgaria, Czech Republic, Croatia, Denmark, UK, Romania, Sweden, Hungary.
The countries of the European Economic Area (EEA): Switzerland, Iceland, Liechtenstein, Monaco, Norway, San Marino.

Why should I register with Fonmoney?

When you register with Fonmoney, you have the following advantages:

- You will be informed on a monthly basis about current deals, offers and news regarding our products.
- You can check the status of your transactions at any time.
- You can resend previously processed transactions, without having to re-enter all the information again.

Does it cost anything to register with Fonmoney?

No, registering with Fonmoney is free.

Can I change my personal information after I have finished registering?

Yes, you can change your data at any time.

How? Log into your Fonmoney account and click on “My Account” and then “Edit Information”. Don’t forget to save your changes, and that was it!

I forgot my password, how can I reset it?

You forgot your password? No problem at all.

Just click on the “login” button on our homepage, and then on “forgot password?”. We will send you a link with which you can reset it.

How do I delete my Fonmoney account?

We are sorry that you want to delete your Fonmoney account. But we respect your decision and hope we won’t lose you as a customer.

In order to delete your account, please contact our Customer Support at [email protected]

Where can I find the data protection agreement?

Your data security and money transfers play a fundamental role in our company. It is important to know that your data is carefully and confidentially stored and only used to provide our service under strict guidelines. You can find more information on our data protection agreement here.