What can the OPP do for me?
The OMPP gives you peace of mind. Every month, many people need to send money to their overseas bank account for a variety of reasons.

By fixing your exchange rate for one year at a time, you know the amount of foreign currency you will receive and how much it will cost you in Sterling for the next twelve monthly payments, removing the risk of fluctuations in the currency market.

All transfers are automated and carried out on an agreed date, meaning that once your OMPP account is activated, you can relax in the knowledge that your payments are taken care of for an entire year.

Are my monthly payments too small or too large?
There is no minimum or maximum amount. Providing you are transferring equal monthly amounts overseas, anyone can benefit from using the OMPP scheme.

What are the costs involved?
There is an annual registration fee of £50 and transfer charges are £7.50 per month. No other charges will apply to you.

How does the OMPP save me money?
Research carried out by The 4Less Group plc show a substantial saving by using the OMPP as opposed to high street banks. Guaranteed commercial exchange rates and a small monthly transfer fee of £7.50 demonstrate the direct benefits of using the OMPP.

How do I make my monthly payments?
For your convenience, Sterling payments are debited from your UK account via Direct Debit and credited to your overseas account automatically by Telegraphic Transfer (TT).

How do I know how much to pay each month?
In month one of your OMPP, you will receive a statement detailing your payment schedule. This statement will display your next twelve monthly payments, allowing you to budget.

When do I know what exchange rate I will get?
The statement sent to you in month one will inform you of the exchange rate used for your OMPP.

Do I need to register before I know the exchange rate?
Yes. In order to comply with regulations, you need to complete the OMPP registration documents in full before your account can be activated.

How do I pay the transfer charges?
Transfer charges are payable in advance with the first instalment of the OMPP. This charge is collected via Direct Debit in month one.

Will I get a monthly statement?
The statement received in the first month of your OMPP will display all the information concerning your individual OMPP and the monthly amounts due.

How do I renew my OMPP for next year?
We will contact you by letter one month before your current OMPP is due to expire to remind you that your payments are due to end. At this point, we will find out if you wish to take part in the OMPP for another year.

What paperwork will I receive and when?
You will receive, in order:

1. A letter advising you of your client number and that your OMPP account has been activated. The letter will also confirm your individual currency requirements.

2. A schedule of payments in month one of your OMPP.

3. A letter to remind you that your current OMPP is due to end.