How does Monex differ from a traditional bank that sells foreign exchange?

Monex is a specialist firm that only offers foreign exchange and international payment services. This specialization allows us to focus all of our resources on delivering exceptional service, price and value.

How is Monex different from other international payment providers that offer similar services?

There are primarily three things that differentiate Monex from these other institutions:

  1. Our account managers provide a higher level of personal and professional service.
  2. Our rates of exchange and prices are more competitive.
  3. We are by far the most recognized international payment provider in main-line business media reflecting our superior market insight.
Is Monex licensed?

Yes. Monex has 47 state money transmitter licenses plus Washington, DC, that enable us to legally transmit money globally. We are also registered with the U.S. Treasury Department as a Money Service Business (MSB).

What industry sectors does Monex serve?

Monex provides foreign exchange and payment services to any company or organization that has a legitimate business need to send funds to foreign entities. Over the years we have identified a number of industry sectors that are heavily involved in international transactions and therefore require international payment services. Examples include importers of antiques, wine and liquor, textiles and apparel, food, equipment, sports gear, musical instruments, furniture, medical supplies, and construction material. Monex also serves industries that bring in raw materials and parts such as chemicals, aviation and electronic components. Universities that fund overseas programs, Freight Forwarders that maintain international agents, Travel Agents / Tour Operators that specialize in international travel and U.S. subsidiaries that repatriate funds back to a foreign head office also benefit from Monex’ foreign exchange and payment services.

How do I pay Monex for a foreign exchange transaction?

There are various ways you can pay for your foreign exchange transactions with Monex. Electronic payment methods such as wire transfer and ACH credit are our preferred settlement methods. However, in order to make working with Monex as easy as working with your bank, you can authorize Monex to directly debit your bank account each time you do a transaction, thereby eliminating the need for you to initiate payment – we do the work for you. You can also fax a check to Monex that we will convert to direct debit.

How can I track currency market movements?

We help clients navigate the complex global currency markets in a variety of ways. Your Monex account manager is the first resource to assist you in tracking specific currencies, structuring appropriate solutions and executing transactions. Monex also disseminates daily market information through our Daily Market Insight, which we were the first MSB to establish for the middle market. Monex also produces more detailed monthly currency reviews for major currencies including the Euro, British pound and Canadian dollar.

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