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Exchange4free review

Send funds to more than 100 countries fee-free — Not available for US residents.

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UK-based Exchange4free has handled more than $5 billion in international transfers and allows you to send money in more than 60 currencies. But US residents are restricted to only receiving money, as they cannot send money through this service.

Must read: Exchange4free is not available for US senders

You won’t be able to send money with Exchange4free from the US, with the exception of the US Virgin Islands. That doesn’t rule out any possibility of it expanding here though.

In the meantime, compare providers that are available in the US.

Quick verdict

Good for
  • Fast transfers
  • No fees
Not so great for
  • Transfers under $100
  • Sending money from the US

Compare Exchange4free to other providers

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24 hours

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OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
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SPECIAL OFFER ✓ Minimum transfer of $1,000 for Finder readers (normally £5,000)

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CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
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XE has fast transfers with low fees and a range of foreign currency tools.
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CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Dunbridge Financial
24 hours

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Dunbridge Financial offers competitive exchange rates and zero fees on transfers to more than 120 countries.
Within an hour
From $0

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MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
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SPECIAL OFFER ✓ Use the code ‘4FREEFINDER’ to get 4 free transfers if you are a first time user. Eligible countries only.

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WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Wise (TransferWise)
Within an hour
From $2.26

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Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
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SPECIAL OFFER ✓ Free transfers and better exchange rates available for new customers

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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.
Within minutes

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Revolut offers 10 zero-fee international transfers a month, amazing exchange rates, and transfers within 30 minutes.
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Instarem offers zero transfer fees on all transfers.
OFX International Money Transfers (Business)
24 hours

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Business customers: Send safe, no-limit transfers with no fees and competitive exchange rates.
CurrencyTransfer for Business
24 hours

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Increase business efficiency with zero transaction fees and same-day transfers.
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Use PayPal to safely send money and receive payments from around the world in over 25 currencies with just an email address or mobile number.
XE Money Transfer for Business
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Save your time and money with XE Money Transfer for business.

Compare up to 4 providers

Exchange4free exchange rates

Exchange4free makes money by charging a margin on top of the mid-market rate. According to its site, margins start at 0.25%.

To get a quote, call an Exchange4free FX dealer or use the quick Request a Quote feature on the provider’s website.

How much does it cost to transfer money with Exchange4free?

As its name implies, Exchange4free does not charge any fees when you send an international money transfer. This means there are no fees regardless of how much you transfer, and there are no hidden charges.

Instead of charging fees, Exchange4free makes a profit on the margin it adds on top of the interbank exchange rate at which it buys currency.

Minimum transfer amount and available countries

The minimum amount you can transfer with Exchange4free is US$100 or an equivalent amount in other currencies.

Exchange4free lets you send money to more than 100 countries around the world, the full list of which is available on the provider’s website. It also offers support for over 60 global currencies, including:

  • AUD
  • USD
  • EUR
  • GBP
  • ARS
  • XOF
  • XAF
  • CAD
  • CZK
  • DKK
  • HUF
  • INR
  • MYR
  • MXN
  • NOK
  • NPR
  • PHP
  • PLN
  • RUB
  • ZAR
  • LKR
  • SEK
  • THB
  • AED
  • NGN

What types of transfers can I carry out with Exchange4free?

Exchange4free specializes in offering one-off spot transfers. If you’re a business customer, you can also use forward exchange contracts to lock in an exchange rate for a future transfer.

The registration and transfer process

You’ll need to register for an account before you can send an international money transfer. This is free to do and should only take a few minutes, but you’ll need to submit proof of ID (including a copy of your passport and a proof of address document) to comply with global anti-money laundering and terrorism financing regulations.

Once you have an account, complete the following steps to send a transfer:

  1. Book a rate. You can do this by logging into your Exchange4free account and entering the details of your transfer or by calling a forex dealer and requesting a quote.
  2. Make a payment. Deposit the funds you want to transfer via electronic funds transfer, debit card or credit card.
  3. Complete the transfer. The funds you send will be deposited into your recipient’s bank account, made available for collection from a cash pickup point or deposited into their mobile wallet.

If you ever need help with your account, Exchange4free’s online help center contains a range of frequently asked questions and their answers. Customer support is also available via phone, email and live chat.

Benefits and drawbacks


  • No transfer fees. You do not need to pay any fees, commissions or hidden charges.
  • More than 60 currencies supported. You can send money to more than 100 countries.
  • Multiple payout options. Your recipient can get the funds by bank transfer, cash pickup, mobile money or an airtime top-up.


  • No limit orders. Exchange4free does not allow you to place limit orders when sending an international transfer.
  • Not available in the US. US residents can’t currently open an account with Exchange4free, but they can receive money to their bank account from another country.

What other products and services does Exchange4free offer?

Payment services

Exchange4free can help you set up an online payment gateway on your website to receive payments from customers around the world.

Business forex

Exchange4free offers competitive exchange rates and no international SWIFT fees for international business transfers.

Technology solutions

Exchange4free’s suite of forex technology solutions includes money transfer platforms, global payout services and payment gateways.

Mobile money transfers

Exchange4free offers forex processing solutions for mobile network operators around the world.

Bottom line

Exchange4free offers competitive rates in more than 60 currencies. But US residents can’t send funds, meaning Americans will need to compare other money transfer providers to find one that’s the right fit.

Frequently asked questions

Image source: Supplied, Photographer: Exchange4free

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