In this guide

  • Our verdict
  • Details
    • Product details
  • Your reviews
  • Ask a question
Finder makes money from featured partners, but editorial opinions are our own.
Currencies Direct

Currencies Direct isn't available on Finder right now.

Minimum Transfer Amount
Fastest Transfer Speed
24 hours
Receiving Options
Bank account

Our verdict

Money transfers designed to fit your changing needs.

A real win with Currencies Direct is that it does away with transfer fees for 90% of its transactions. And fees that are charged for the other 10% are shown upfront along with the exchange rates so there'll be no hidden fees to worry about. To help you secure the best rates, you'll have the use of forward contracts, limit orders and other advanced forex tools. There's also an app to help manage your transfers.

Currencies Direct only supports 60 currencies so it might not be able to work with all your exchange needs. And forget about this provider if your recipient doesn't have a bank account as there are no cash pickups.


  • Diverse range of tools to help eliminate commission and hidden fees, including spot and forward contracts, limit orders and rate alerts.


  • No cash pick-up or payments available, must pay and receive by bank account.

In this guide

  • Our verdict
  • Details
    • Product details
  • Your reviews
  • Ask a question


Product details

Product Name Currencies Direct
Pay By Debit card, Bank transfer
Receiving Options Bank account
Customer Service Phone, Email, In person

Why should I consider using Currencies Direct?

Currencies Direct has many features that make it appealing:

  • 90% of its transactions are free, and those that aren’t have terms that are clearly spelled out ahead of time.
  • All users have access to forward contracts, limit orders and similar advanced features.
  • Rate alerts can be set to notify you when the market reaches your ideal transfer rate.
  • Transparent exchange rates will clearly show you how close the rate you’ve locked in is to the wholesale rate.

What to watch out for

Currencies Direct has limitations, including:

  • Only supports 60 global currencies, so your currency of choice may not be supported if it isn’t commonly traded.
  • Currencies Direct doesn’t offer any type of cash transactions so you must pay and receive by bank account.

Is Currencies Direct expensive?

Creating a personal account with Currencies Direct is free, and you won’t pay any account maintenance or transfer fees down the line. Occasionally, you may face a third-party fee when using Currencies Direct, but this fee can sometimes be avoided by picking a different third party for your transfer.

Currencies Direct exchange rates

Currencies Direct provides live exchange rates 24/7. When you exchange funds through it, the rate will be slightly different from the mid-market rate.

Because it doesn’t charge any fees, Currencies Direct has to make its money another way. In this case, it goes a route that’s typical of online international transfer services — it takes a margin on the exchange. This means you won’t exactly get the mid-market rate, but it’s still competitive when compared against other transfer services.

Example: Sending funds to a friend in Finland

Let's say you're looking to get some money to a friend living in Finland but you're not in a particular hurry. Using Currencies Direct, you can set up a rate alert to let you know when the interbank — or mid-market — rate hits what you're looking for. Here's what the process would look like:

  1. Set your target rate through Currencies Direct.
  2. You're alerted by email or text if/when your target rate is hit.
  3. Log in to your account and start your transfer.
  4. Complete your transfer using the stronger rate you set, instead of the weaker rate the banks were offering when you first decided to send money.

Where banks may come out ahead are transfer times. Because you're sending the money to Currencies Direct and it's then sending the money to your recipient, it may take longer than directly wiring it from one bank to another. It may take 2 or more business days to make the transfer with Currencies Direct, whereas a bank wire may go through in as little as 1 business day.

* This is a fictional, but realistic, example.

Fees explained

Although Currencies Direct typically doesn’t charge any fees for transfers sent through its platform, your transfer may still end up costing you more than you expected. Keep in mind that:

  • Currencies Direct will notify you if it’s going to charge you a fee.
  • Your bank may charge you a fee for outgoing and incoming transfers, and receiving bank may charge your recipient to accept your transfer.

These fees can often be avoided by calling your bank ahead of time to discuss free transfer options.

Currencies Direct reviews and complaints

Currencies Direct enjoys excellent reviews on TrustPilot, with 90% of reviews giving it 5 stars. Only 2% of reviews on Trustpilot are 1 star, and Currencies Direct has responded to 53% of the negative reviews it has received. Many customers leave glowing reviews about how informative the staff is, for example, “The transfer was smooth, quick and very efficient. Both gentlemen were extremely helpful and always available to answer any questions we had… I wouldn’t hesitate to use Currencies Direct again and highly recommend them.”

However, some common complaints on the negative side touched on the frustration of opening an account and the frequency of which Currencies Direct contacts its customers. Many of the negative reviews on Trustpilot have responses directly from the company offering to fix the problem at hand, however possible.

Currencies Direct reviews accurate as of 25 June 2022.

Trustpilot4.9 out of 5 — based on 7,103 customer reviews
iCompareFX84 out of 100 — based on staff reviews
MoneyTransfers9.2 — based on staff reviews

What types of personal transfers does Currencies Direct support?

Payments can be made to Currencies Direct in 2 ways:

  • Bank-to-bank transfer
  • Debit card (GBP and EUR cards only)

These payments can be made over the phone, online or if you live close to a physical branch, in person. Unfortunately, Currencies Direct doesn’t accept credit card payments at this time.

How do I send money through Currencies Direct?

You can send money a variety of ways using Currencies Direct. Follow these steps to get your funds where they need to be:

  1. Register for an account online.
    You’ll need to supply identifying documents when you apply, including a copy of government-issued ID — such as your passport — and bank statements.
  2. Initiate the transfer.
    Start the process online, over the phone or in person. You’ll agree upon the exchange rate before committing to the transfer.
  3. Fund the transfer.
    Use a bank transfer or debit card to pay Currencies Direct.
  4. Your funds are delivered.
    Typically your funds will be transferred to Currencies Direct the same day you send them. Delivery times can vary based on where you’re sending the funds and how long they take to clear with Currencies Direct.

How do I track my Currencies Direct transfer?

You can track your transfer online using the website on your desktop or mobile app on your smartphone. Log in to your account to track your transfer.

You’ll also be sent an email as soon as your funds are sent from Currencies Direct.

How does Currencies Direct compare to other services?

Our table below lets you compare services you can use to send money abroad. Compare fees, exchange rates and discounts from different money transfer services, and when you have made your choice, click Go to site.
Name Product Offer Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
Wise (TransferWise)
24 hours
From 0.43%
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
Xe Money Transfers
Within minutes
Xe has fast transfers with low fees and a range of foreign currency tools.
Within minutes
From $0
Use code HELLO to get $20 off on first two transfers on a min transfer of $250. Valid until November 30, 2023.
Instarem offers zero transfer fees on all transfers.
Within minutes
From $0
Send money in CAD to Africa on this blockchain and P2P powered provider.
Finder Award
Within minutes
From $0
Special offers like free transfers and better exchange rates available for new customers.
Remitly has quick, affordable transfers around the world, with both express and economy options.
Finder Award
Within minutes
From $4.99
For a limited time, get $0 fees on your first money transfer from Canada. Conditions apply.
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
Xe Money Transfers
Within minutes
Xe has fast transfers with low fees and a range of foreign currency tools.
Finder Award
24 hours
Exclusive offer: Discounted exchange rates for your first and ongoing transactions. $0 transfer fee.
OFX has no maximum limit transfers, with competitive exchange rates for 50+ currencies.

Is Currencies Direct safe to use?

Currencies Direct has been in business since 1996, and is licensed and regulated in many countries around the world including:

  • Canada
  • South Africa
  • Spain
  • United Kingdom
  • USA

    In addition to these licences, Currencies Direct maintains a Level 1 Dun & Bradstreet credit rating, the highest possible through the agency, and transferred more than £7.5 billion pounds in 2019.

    Does Currencies Direct have a mobile app?

    Currencies Direct mobile app screenshot

    Yes, Currencies Direct has an app available on both the App Store and through Google Play. Through the app, you can do the following:

    • Set rate alerts. Create and monitor rate alerts to stay on top of your transfers wherever you are.
    • Send money. Create transfers and send them directly through your mobile phone.
    • Manage transfers. See a history of your transfers and track transfers currently in progress.
    • Access customer support. Find phone numbers and customer service emails if you have any issues.
    Reviews accurate as of May 25, 2021
    Google Play Store4.1 out of 5 — based on 327 customer reviews
    Apple App Store3.7 out of 5 — based on 73 customer reviews

    Bottom line

    Currencies Direct has years of experience in the international money transfer game, and with its promise to beat the banks, it’s a strong contender for getting your funds to friends and family worldwide. Before you sign up, make sure Currencies Direct services your state.

    You can also use our guide to compare international money transfer services if you find Currencies Direct doesn’t meet all your needs.

    Frequently asked questions

    Can I make a forward contract?

    Yes. Forward contracts can be held for up to a year, but require a deposit.

    Are international money transfers safe?

    Currencies Direct transfers money the same way a business or bank would.

    Federal protections are also in place to hold banks, credit unions and money transfer companies to certain standards for international transfers. For example, it must disclose all fees upfront.

    How long will it take for my money to reach its destination?

    Most transfers arrive within 48 hours, depending on where you’re sending the funds and how long it takes your money to clear with Currencies Direct.

    Can I arrange a transfer over the phone?

    Yes. Currencies Direct also allows you to submit a transfer request via phone.

    How do I know when my payment has been sent?

    Currencies Direct will send you a confirmation email as soon as your funds have been sent to your recipient’s account.

    Can I cancel a transfer with Currencies Direct?

    No. Once you have confirmed a transfer it cannot be cancelled.

    Back to top

    Your reviews

    No reviews yet. Write a review

    Ask a question

    Ask a question

    Zak Finder


    Hi there, looking for more information? Ask us a question.

    Error label

    You are about to post a question on

    • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
    • is a financial comparison and information service, not a bank or product provider
    • We cannot provide you with personal advice or recommendations
    • Your answer might already be waiting – check previous questions below to see if yours has already been asked
    Accept and continue

    Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use & Privacy Policy and Privacy and Cookies Policy.

    This site is protected by reCAPTCHA and the Privacy Policy and Terms of Service apply.

    Go to site