Transfer money across the world seamlessly and securely with Currencies Direct.
Currencies Direct began operations in 1996. It was the first non-bank foreign exchange payments service provider in the UK, and quickly expanded to locations around the world. The company now has over 450 employees, spread across offices in North America, South America, Europe, Asia, Africa and the Middle East. It launched its online money transfer service in 2008 and has since earned a level 1 credit rating with Dun & Bradstreet (that’s the highest you can get).
As a winner of the MoneyAge “Consumer Champion of the Year” award in 2017, Currencies Direct has serviced over 200,000 personal and corporate clients globally, processing around US$4.5 billion in currency payments every year, in more than 60 currencies.
How much does it cost to transfer money with Currencies Direct?
Currencies Direct offers competitive exchange rates and (mostly) fee-free transfers which means you’ll really notice the savings, especially in comparison to the banks, who often charge higher fees.
If you want to see how your currency pair has been performing before arranging a transfer, you can access historical currency charts on the Currencies Direct website, which offer insight into fluctuations so that you can trade at peak rates. If Currencies Direct is going to charge a fee for a particular service, it will inform you in advance, but carries out around 90% of its transactions for free.
For a quick and easy snapshot of your transaction, you can join Currencies Direct in under two minutes to access their online exchange rates and fee structure. You can also get a quote directly from an agent by inputting the amount and currency requirements for your transaction along with some contact information in the “Get a Free Quote Now” box on the right hand side of the page.
Which currencies can I transfer?
Currencies Direct allows you to send fee-free transfers on over 60 currencies, which include but aren’t limited to:
- Canadian dollar (CAD)
- United States dollar (USD)
- Pound sterling (GBP)
- Euro (EUR)
- Australian Dollar (AUD)
- New Zealand dollar (NZD)
- UAE dirham (AED)
- Japanese yen (JPY)
- Israeli new sheqel (ILS)
- Egyptian pound (EGP)
- Singapore dollar (SGD)
- Danish krone (DKK)
- Norwegian krone (NOK)
- Hong Kong dollar (HKD)
- South African rand (ZAR)
- Swedish krona (SEK)
- Swiss franc (CHF)
- Saudi riyal (SAR)
- Thai bhat (THB)
- Turkish lira (TRY)
If you aren’t able to find the currency pairing of your choice online, you can also contact a customer service agent to discuss your options.
What types of transfers can you carry out with Currencies Direct?
Currencies Direct offers a plethora of transfer options to help you save time and money when sending international money transfers:
- Spot Contracts. When you need to make a one-off transfer, spot contracts allow you to send money quickly, with an exchange rate that hinges on the existing market rate.
- Forward contracts. If you think that the existing exchange rate is too good to pass up but you’re not quite ready to send your money overseas, you can lock in your optimum exchange rate to send at a later date using a forward contract (so long as you put down a 10% deposit).
- Regular transfers. If you need to send money abroad on a regular basis, it can help to arrange automatic payments using Currency Direct’s simple Direct Debit system.
The registration and transfer process
Currencies Direct makes the process of transferring money overseas simple and hassle-free. Follow the step-by-step process outlined below to register today:
- Register for a free account. Fill in an online application form and submit identity verification documents (such as a passport or government-issued ID) as well as copies of your bank account statements.
- Activate your account. Once your application is submitted, you will be contacted by Currencies Direct via email to activate your account so that you can begin to send money.
- Book international money transfer. Currencies Direct will lock in your exchange rate – over the phone, online or via their app – and get your money to where it needs to be safely and quickly.
- Send payment for transfer. You can pay for your transfer using GBP and EUR debit cards, or you can send payment funds from your bank account.
What are the pros and cons of using Currencies Direct instead of a bank?
- No fees. Fee-free transfers on most transactions.
- Competitive exchange rate. Guaranteed better exchange rates than the bank.
- Multiple options. Offers a plethora of transfer options, from one-time spot transfers to forward contracts to regular payments.
- No offices in Canada. Lack of in-person services for Canadian customers.