Why choose CurrencyTransfer?
Based in London, England, CurrencyTransfer ensures that the minimum criteria for the money transfer companies it compares on its platform are those regulated to the highest level by the UK’s FCA (Financial Services Authority). Each currency broker needs to be able to stream live money transfer exchange rates onto the marketplace, which means operating a user-friendly online transfer booking platform.
What does it cost to compare transfers with CurrencyTransfer?
It is 100% free of charge to use CurrencyTransfer, with guaranteed savings on exchange rates. The online comparison site provides a platform to compare multiple international money transfer services and book live exchange rates. You will still need to pay a marginal markup on exchange rates for the transfer you book, but CurrencyTransfer will clearly state the mid-market rate alongside the provided quotes, to ensure that rates are transparent, and there are no hidden costs. While CurrencyTransfer does accept a small platform fee from the international money transfer services that it advertises for (because everyone has to turn a small profit), customers can feel safe knowing that CurrencyTransfer partners exclusively with reputable organizations that are guaranteed to save you money in comparison to the banks.
- Exchange rates. CurrencyTransfer compares competitive exchange rates that are regularly updated in line with changes to mid-market rates.
- Fees. All of the transactions carried out by CurrencyTransfer are 100% fee-free.
CurrencyTransfer does the math for you, comparing money transfer services side-by-side to make sure that you get the best deal, with all of the costs calculated and no hidden fees.
Are there minimum and maximum transfer amounts?
CurrencyTransfer doesn’t limit customers by charging a maximum transfer amount on international money transfers, which means that customers can transfer as much as they want, without needing to incur fees on multiple transfers. While CurrencyTransfer offers some of the best and most cost-effective solution in the market to individuals and businesses, it’s important to note that they typically can’t add too much value for customers who want to transfer under $9,000.
Which currencies can be exchanged on CurrencyTransfer?
CurrencyTransfer offers transfers in more than 25 + currencies through their online comparison platform. The following is an inclusive list of their supported currencies (as of 15 April 2018).
Hong Kong dollar
New Zealand dollar
South African rand
What does the registration and transfer process look like?
CurrencyTransfer facilitates the process of transferring money overseas with a simple, user-friendly service that takes only a few minutes from start to finish. Follow the step-by-step process outlined below to start comparing money transfer services.
- Register for a free account. Sign up with CurrencyTransfer by entering some basic details, like birth date and address, into an online form.
- Verify Identity. Submit identity verification documents like licence and passport to begin comparing transfer services.
- Request a quote. Enter your desired currency type and amount, and click “Get quote” to compare your options.
- Book your transfer. Select the best offer and confirm your transfer to lock in exchange rates.
- Send in payment. Log into your online bank account and pay the winning supplier with a standard bank transfer.
- Track your transfer. Track and trace your transfer under “Trade History” in the online CurrencyTransfer platform.
Although you do need to create an account to transfer money with CurrencyTransfer, you can try out a demo of their platform and see a sample of quotes without signing up. All communication and customer support happens on the CurrencyTransfer website, through your personal dashboard, so you will never be redirected to another website.
What transfer types can you carry out with CurrencyTransfer?
CurrencyTransfer offers the following range of transfer options to help you save time and money when sending funds overseas:
- Spot contracts. Make a one-time transfer at the current exchange rate on offer.
- Forward contracts. Protect yourself from market fluctuations by booking an exchange rate for a transfer to be carried out at a later date.
- Regular payments. Book a series of fixed-price transfers to ensure consistent rates on regular payments.
- Market orders. Select an exchange rate in advance, and your transfer will be processed when the predetermined rate appears on the market.
Pros and Cons of CurrencyTransfer
- Superior for high-value transfers. For transactions over $9,000, CurrencyTransfer can find you extremely competitive rates.
- No transaction fees. CurrencyTransfer doesn’t allow transaction fees, which means the costs of service come only from differing exchange rates.
- Reliable. CurrencyTransfer only supplies exchange rates from money transfer services authorized by the UK’s Financial Conduct Authority (FCA).
- Only large transactions. CurrencyTransfer only has a competitive edge for transfers over $9,000.