Review: Global Reach international money transfers
Send fast and affordable money transfers with Global Reach.
Global Reach specializes in offering fast, secure and affordable online transfers to personal and business customers. With offices in London, Cornwall, South Africa and Cyprus, Global Reach has transferred more than 400 billion (around $7.15 billion) globally and trades in over 130 currencies, all while maintaining an 1A2 Credit Rating from global ratings agency, Dun and Bradstreet. With more than 25,000 money transfer clients worldwide, Global Reach allows Canadian residents to sign up and take advantage of its convenient money transfer services.
Min. Transfer Amount
Max. Transfer Amount
|Product Name||Global Reach International Money Transfers|
|Min. Transfer Amount||GBP 3,000|
|Max. Transfer Amount||No limit|
|Transfer Methods||Online, Phone, Bank Account to Bank Account|
|Transfer Options||One off payments|
Minimum transfer time
|Customer Service||Phone, Chat, Email|
|Available Currencies||AED, AUD, BBD, BGN, BHD, BWP, CAD, CHF, CNY, CZK, DKK, EUR, GBP, GHS, HKD, HRK, HUF, ILS, INR, ISK, JOD, JPY, KES, KWD, LKR, MAD, MUR, MXN, NGN, NOK, NZD, OMR, PHP, PKR, PLN, QAR, RON, RUB, SAR, SEK, SGD, THB, TND, TRY, TTD, UGX, USD, ZAR|
|Online Transfer Fee||GBP 0|
|Branch Transfer Fee||GBP 0|
|Phone Transfer Fee||GBP 0|
|Exchange Rate Updates||Real time|
How much does it cost to transfer money with Global Reach?
Global Reach aims to offer competitive exchange rates that are much closer to the interbank rate than what the major banks are able to offer, generally saving customers up to 5%. Global Reach doesn’t charge fees on transfers over £3,000 (around $5,400), although some banks may levy a receiving or routing charge on your payment, which could affect the final amount received by your beneficiary. The minimum transfer amount is almost exclusively £3,000 (around $5,400), but Global Reach can potentially negotiate smaller transactions (usually for a fee) for regular payments.
Below is a table displaying common currency pairs with sample exchange rates (as of 10 April 2018).
|CAD / GBP||CAD / EUR||CAD / USD||CAD / AUD|
|CAD$1 = GBP0.5594||0.6421||0.7935||1.0218|
|CAD / CHF||CAD / CZK||CAD / DKK||CAD / HKD|
|CAD / INR||CAD / JPY||CAD / NOK||CAD / NZD|
The exchange rates are shown for indicative purposes only and are correct as of 10th April 2018.
With a focus on offering exchange rates that are as close as possible to the interbank rate (the rate you can find by conducting a quick Google search), Global Reach also provides a Best Exchange Rate Guarantee. You can view current live rates by signing up for a free account.
Which currencies can you send with Global Reach?
Global Reach allows you to send money overseas in more than 130 currencies. A full list of transfer destinations is available from the provider, but some of the currencies available for transfer include the following:
- UAE dirham
- Australian dollar
- Bahamian dollar
- Bahraini dinar
- Botswana pula
- British Pound sterling
- Bulgarian lev
- Canadian dollar
- Cayman Island dollar
- Chinese Yuan renminbi
- Croatian kune
- Czech koruny
- Danish krone
- East Caribbean dollar
- Ghanaian cedi
- Hong Kong dollar
- Hungarian forint
- Israeli shekel
- Indian rupee
- Jamaican dollar
- Jordanian dinar
- Japanese yen
- Kenyan shilling
- Kuwaiti dinar
- Sri Lankan rupee
- Mauritian rupee
- Mexican peso
- Nigerian naira
- New Zealand dollar
- Norwegian krone
- Ormani rial
- Russian ruble
- Saudi riyal
- Singapore dollar
- South African rand
- Swedish krona
- Swiss franc
- Thai baht
- Turkish lira
- Ugandan shilling
- US dollar
What types of transfers can you carry out with Global Reach?
Global Reach provides the following range of transfer options to help you save time and money when sending funds overseas:
- One-off payments. Locks in a competitive exchange rate for one-off transfers.
- Forward contracts. Fixes your exchange rate for up to two years ahead of transfer date.
- Limit orders. Sends transfer when a target exchange rate becomes available on the market.
- Market orders. Minimizes risk by targeting favourable exchange rates.
- Regular payments. Sets up automatic, hassle-free transfers.
If you ever have a question or require assistance with a transfer, Global Reach offers a handy online FAQ section and detailed information on its website.
The registration and transfer process
To begin using Global Reach services, you must first open an account by providing your name and contact information. Once you input your basic details, you’ll need to specify the amount you intend to send, the currency you’ll be transferring and the destination country. You will then have the option of placing a one-off transfer or using a forward contract or limit order to get the exchange rate you want.
Once you’ve been approved for an account, you’ll be given a chance to review the exchange rate and fee that will apply to your transaction. If you’re happy with the full cost of the transaction, you can go ahead and submit your transfer. Once your funds arrive at Global Reach, you’ll be sent a confirmation e-mail, and once funds are sent to your beneficiary, you’ll receive a payment receipt.
What are the pros and cons of using Global Reach?
- Competitive exchange rates. Lock in a best-rate guarantee on all transfers.
- Fee-free transfers. Avoid transfer fees on amounts over £3,000 (around $5,400).
- Worldwide transfers. Send money in over 130 currencies to destinations around the globe.
- Flexible options. Book one-off payments, forward contracts and limit orders to guarantee best exchange rates.
- Not Canadian based. Customers can only transfer money online but have no access to in-person transactions.