Frequently Asked Questions

AED payments must be sent via a bank transfer

Please ensure your funds are kept in AED failure to do so will result in a shortfall of funds being received

If you bank with HSBC or ENBD you can make this transfer to us in AED through your online banking, If you bank with any other UAE bank you will need to go to your local branch and fill out a funds transfer form to make sure your funds are kept in AED.

If you are unsure of the process or have any questions you can reach our UAE team on 042781020.

GC Partners cover AED transfer fees so when making a payment whether in the branch or online you can apply the transfer fee to a beneficiary and we will convert this for you.

If your funds have credited short and this shortfall is 150 AED or under there is nothing more you need to do, this is the fee we cover for you and the total amount of currency purchased will be paid, if the shortfall is over 150 AED then please get in touch with your account manager.

Click here to see the acceptable documents
We require a passport copy along with your Emirates ID (front and back) or a proof of address document, this can be your rental contract, title deed to property or a bank statement.

When transferring AED using internet banking, ensure you select sending and receiving currencies as AED, do not send any other currency as you are sending the funds to an AED only account. If you are unable to do this online you should be able to visit a branch and complete a transfer form.

Usually, 1-2 working days. Most transactions are completed within 24 hours and will depend on how quickly your bank can send the payment to us.

Bank details are specific to the country your payment is going to. Please contact your account manager for information.

You can add bank details via your GC Partners account.

You can arrange to send funds to multiple accounts via your GC Partners account.

You will be emailed when your funds have been sent out. You can also check the status of your transfer at any time via your online account.

If you are not getting a text message because your phone number is incorrect, please contact your account manager to update.

You can update your contact details via your GC Partners account. Login to your GC Partners account, ensuring you have your Client ID and Password to hand. Go to the Your Details section and click on Change Authentication.

You have 3 options:
1. Mobile Number
2. Email Address
3. Password

If you are updating your passport or adding a new address, we will require a copy of your new passport or proof of address which you can upload when you make the change.

Please note any change of address you make will be checked by your account manager before showing on your account.

There are no charges or fees to use GC Partners foreign exchange services.

In some countries, the beneficiary bank may charge a receiving fee, which is unfortunately out of our control, and would be applicable regardless of which provider is used to send funds to that bank.

In some countries the sending bank may have a charge. For information about sending funds from AED please see our AED section.

With GC Partners there are no charges.

You can call or email your account manager during office hours and they will be happy to help.  We also have a live chat facility on our website for any general questions, and a call back facility you can request online.

All our office contact details can be found on here.

If at any time during the service, you are unsure or unhappy about anything please just speak to us and we can address any queries or concerns you may have.

Your account manager is there to help you, so just call or email and we will deal with your query as soon as we possibly can.

If you would like to log a complaint, just contact our Compliance Team who will happily assist you. Just send them an email via compliance@gcpartners.co.

Exchange rates shown on television, in the newspapers and on the internet are normally the mid-market rate. The mid-market rate is the rate that is mid-way between the buy side of the market and the sell side of the market.  It is not an achievable buying rate for anyone. These rates give you an indication of which way the market is moving at a given time.

You can set a rate alert by logging into your account and receive a text or email when your desired exchange rate is achievable.

You can obtain a reminder of your client number and reset your password by clicking here and click ‘Forgot Client ID’ or ‘Forgot Password’.

You will then receive an email confirming your client ID or a new password.  Don’t forget to check your spam folder.

If you need to cancel your order, or if you are unable to make payment for your currency, you will need to call us as soon as you can.

Currency orders are legally binding contracts, as GC Partners purchase your currency for you at the time the order is placed. Any cancellation of a currency purchase may result in additional charges.

The minimum transfer amount is £200 or equivalent in your currency and there is no maximum transfer amount with us.

GBP payments normally arrive the same day, with most other currencies usually within 24-48 hours, for exotic currencies allow up to 5 days. Please contact your account manager if you need clarification on specific currencies. Timeframes can vary depending on bank holidays or local bank opening days and times.

We have many options available to suit all our customers.

Currently GC Partners offer 38 different currencies, so whether you need to send funds to Europe, North America, Middle East or Asia, there is a good chance we can help you with your currency needs.

Always check with your account manager to find out if a particular currency is or will be available in the future.

We do not provide cash. We offer a strict bank-to-bank transfer service to our clients.

For all currencies, the quickest way to pay is by bank transfer. We will provide you with our bank details at the time of purchasing your currency, and you pay by bank transfer.

Always remember to include your client registration number as the reference on the payment, so we can immediately identify the payment as yours.

You will need to contact your bank to make sure that they will release the payment before attempting to make another payment.  Once your bank has confirmed it is ok to try again, login to your account and select PAY FOR DEAL.  DO NOT CREATE ANOTHER DEAL.
Alternatively, you can arrange payment by bank transfer. Please contact your account manager for the account details.

No. We do not accept cash or cheque payments.  

We ask that you make the payment to us as soon as possible, ensuring the funds arrive by the agreed settlement date.

If you tell us when you are booking a transaction, we can arrange a suitable contract to allow you the time needed to pay.

If you find out you have limits after booking the deal, let your account manager know as they can help make the arrangements required to allow you extra time to pay.

Yes, you can pay from a joint account or let a friend/relative pay on your behalf. Let your account manager know at the time of booking your transaction if the payment is not coming from an account in your name. We will need some information about the payer. This may hold up your payments being sent out.

Contact your account manager as soon as you think there may be a delay, for us to find the best solution to help you.

Recurring Payment service removes the hassle from your international transfers.  Once set up all payments are made automatically on your behalf, no need to call or chase as your payments happen automatically.

There are many reasons you might be sending regular payments overseas, here are just a few examples:

Pensions and Investments

Mortgage Payments

Household bills and expenses

School or University fees

Condominium Fees

Local tax responsibilities

If you are sending funds over on a regular basis but want to budget and plan ahead, knowing exactly how much you’ll receive every month a Forward Contract could be a great option for you.

For example, if you wish to fix your exchange rate for a 12-month period, we’ll agree on the rate now. Then, each month, when your standing order arrives in your account, the payment will be drawn from your forward contract until it completed.

You then have the flexibility to return to your monthly variable rates or opt to fix for another 12 months.

We all have unexpected bills or additional expenses. Your GC Partners account gives you access anytime and from any device and location. Log in to your account, check the exchange rate, buy your chosen currency, and transfer it to your desired destination. Alternatively, give your account manager a call to assist you.

There are no charges to set up a regular overseas transfer. Simply set up a standing order from your bank to our bank in the same currency.

Instruct your bank to cancel the standing order from your bank to GC Partners and contact GC Partners to let them know.

You will be emailed when your funds have been sent out. You can also check the status of your transfer at any time via your online account.

There is no limit to how much currency you can send with a regular foreign currency payment. Our regular payments service is flexible, so you can send as little as £300 per month, bi-monthly or quarterly.

You can open your account here, or by clicking REGISTER at the top of this page, or in person at one of our offices.

Once you have opened your account, a GC Partners team member will contact you to discuss your currency requirements.

For a personal account registration, it should only take a few minutes. We will then verify your details and contact you.

For business account registration a dedicated account manager will be in touch to guide you through the onboarding process.

You can find them right here 
You can also view our cookie and privacy policies 

As soon as we have verified your documents, and opened your account, you can arrange a transfer. You can arrange transfers online up to £10,000 (or currency equivalent). Please contact us by telephone to arrange any transfers over £10,000.

For personal accounts click here 
For business accounts please contact your account manager.

To remain compliant with our regulatory & legal obligations, we must complete ‘Know Your Customer’ checks on every client, be it an individual or company, that transfers money with us. A customer’s identity data must then be verified using sources independent of the customer such as passports and driving licenses, and proof of address such as utility bills.  

How do I use 2-step login? – GC Partners

Global Currency Exchange Network Ltd trading as GC Partners is authorised by the Financial Conduct Authority (504346) and supervised by HMRC (MSB 1213718) You can check GCEN´s regulatory status here.

GC Partners is independently audited each year by 3rd party compliance specialists to ensure that all processes, procedures, and controls are in line with FCA guidelines and our legal obligations.  

GC Partners has Professional Indemnity (PI), Directors and Officers, and Cyber insurance.

Our compliance team works hard to protect both GC Partners and its clients from any potential financial crime and remain compliant with our regulatory obligations.  So, if things sometimes take a little longer or you see new questions popping up, it’s so we can keep compliant with our regulatory obligations. All money we receive for clients is kept in segregated client accounts.

This means that your money is held separately to our own company money. Your money is not an asset of the business, so in the very unlikely event of anything happening to us, your money is protected.

We cannot invest client money as we are not regulated to do so, and we do not accept client instructions to speculatively trade.

GCEN is classed as an Authorised Payment Institute with the FCA, so we are not allowed to speculate on the currency markets using client funds. All client money is held in secure safeguarded client accounts. It is not invested over night, nor do we buy and sell it several times over to make a profit.

Your funds are simply held for you in a segregated client account.

We give you a commercial business rate typically 2% to 3% better than your bank and make our money by taking a small margin on the exchange rate as we have a high daily volume of business.

A domestic wire. The account is held in New York, via our partner Western Union Business Solutions, therefore a domestic transfer is needed.

For smaller transfers you may be able to make a payment via your internet or telephone banking. If you don’t have internet banking, you will need to go into a branch of your bank to make a wire transfer.

For larger transfers you may need to go into your bank in person. Ask your bank to make a wire transfer to the US Dollar account details we provide you with, each bank is different and has daily limits, your bank may also be able to increase your online limits to avoid visiting a branch.

When you arrange a transfer with GC Partners, we give you a reference specific to you. It is very important to quote this on your transfer as it allows us to locate and allocate your payment quickly. Failure to quote this reference may result in your payment being delayed.

We can take small payments by debit card however there are fees for this, therefore we would encourage you to pay by wire transfer.

Wire transfers are quicker therefore we would suggest making a Wire transfer rather than an ACH.

Wire transfers normally take 1-2 days. ACH can take up to 5 days.

Our routing number is 021000018. This is stated on your deal ticket, under branch code.

You send US Dollars to our account in New York. We send your converted currency to the beneficiary.

We have a partnership with Western Union in the USA, therefore the account name is Western Union Business Solutions.

Western Union Business Solutions 85 Broad Street, Floor 18-137, New York, 10004

Usually wire transfers take 1-2 days and ACH can take up to 5 days, it also depends on how quickly your bank sends the payment to us.
Timeframes can vary depending on weekends, bank holidays or local bank opening days and times