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Monito is a comparison website for international money transfer services.

We compare and review more than 350 money transfer operators, to help you find the best option for each of your international transaction.

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Ring-Fenced Accounts

A ring-fenced account is a specific way of protecting certain accounts and client funds from difficulties elsewhere in the business. For example, a bank may ring-fence its consumer retail accounts from its merchant banking and investment activities.

For money transfers, some currency exchange providers ring-fence clients funds away from their operations, costs and any associated risks. This separation means that if a financial services provider experiences difficulties in one part of the organization, money in the ring-fenced accounts will not be impacted.

Ring-fenced accounts are often a requirement for licensing a financial services business. For example, the Financial Conduct Authority in the UK has strict requirements on large financial institutions protecting consumer accounts through ring-fencing.


    • Money Transfer Glossary

      When it comes to exchanging money, paying for your transfer, understanding exchange rates and more, it’s important to understand what all the details mean. But don't worry. We’ve got you covered with our complete Monito glossary and guide to the most frequent terms you’ll come across when you send or receive money internationally.


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