Exchange4free review 2021: Fees, rates, is it safe?

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

Since Exchange4free doesn’t offer services to US customers, you can find similar providers who can help you send a transfer here.

I want to send

Min. Transfer Amount	Transfer Speed	Online Transfer Fee	Rate	Amount Received	Description	CTA	Details
$1,000	1 day	USD 0.00	0.834	EUR 4,168	OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.	Go to site	Compare	Show details	Details Minimum transfer amount 1,000.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Email Available currencies AED, AUD, AZN, BGN, BHD, BND, CAD, CHF, CZK, DKK, EGP, EUR, FJD, GBP, HKD, HUF, IDR, ILS, INR, JPY, KRW, KWD, LKR, MAD, MGA, MXN, MYR, NOK, NZD, OMR, PEN, PGK, PHP, PKR, PLN, RUB, SAR, SBD, SCR, SEK, SGD, THB, TOP, TRY, TWD, TZS, USD, VND, VUV, WST, XOF, XPF, ZAR Go to site Read the full review
GBP 1,000	1 - 2 days	USD 0.00	0.834	EUR 4,168	Exclusive: Minimum transfer of $1,000 for Finder readers (normally $5,000). CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.	Go to site	Compare	Show details	Details Minimum transfer amount GBP 1,000.00 Transfer methods Online, Bank Account to Bank Account Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Chat Available currencies AED, AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HUF, ILS, JPY, MXN, NOK, NZD, PLN, RON, SEK, SGD, THB, TRY, USD, ZAR Go to site Read the full review
USD 1	Same day	USD 0.00	0.838	EUR 4,191	XE has fast transfers with no fees and a range of foreign currency tools.	Go to site	Compare	Show details	Details Minimum transfer amount USD 1.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options One off payments, Market orders, Forward contracts Customer service Phone, Email Available currencies AED, AFN, ALL, AMD, ANG, AOA, ARS, AUD, AWG, AZN, BAM, BBD, BDT, BGN, BHD, BIF, BMD, BND, BOB, BRL, BSD, BTN, BWP, BZD, CAD, CDF, CHF, CLP, CNY, COP, CRC, CUC, CVE, CZK, DJF, DKK, DOP, DZD, EGP, ERN, ETB, EUR, FJD, FKP, GBP, GEL, GGP, GHS, GIP, GMD, GNF, GTQ, GYD, HKD, HNL, HRK, HTG, HUF, IDR, ILS, IMP, INR, IQD, IRR, ISK, JEP, JMD, JOD, JPY, KES, KGS, KHR, KMF, KPW, KRW, KWD, KYD, KZT, LAK, LBP, LKR, LRD, LSL, MAD, MDL, MGA, MKD, MMK, MNT, MOP, MUR, MVR, MWK, MXN, MYR, MZN, NAD, NGN, NIO, NOK, NPR, NZD, OMR, PAB, PGK, PHP, PKR, PLN, PYG, QAR, RON, RSD, RUB, RWF, SAR, SBD, SCR, SDG, SEK, SGD, SHP, SLL, SOS, SPL, SRD, SVC, SYP, SZL, THB, TJS, TMT, TND, TOP, TRY, TTD, TVD, TWD, TZS, UAH, UGX, USD, UYU, UZS, VEF, VND, VUV, WST, XAF, XCD, XDR, XOF, XPF, YER, ZAR, ZMW, ZWD, BYN Go to site Read the full review
$10	Within an hour	USD 1.99	0.825	EUR 4,125	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.	Go to site	Compare	Show details	Details Minimum transfer amount 10.00 Transfer methods Online, Bank Account to Bank Account, Cash Transfer Transfer options N/A Customer service Phone, Chat, Email Available currencies ALL, AMD, ARS, AZN, BAM, BDT, BGN, BIF, BOB, BRL, BSD, CLP, CNY, COP, CRC, CZK, DOP, EGP, ETB, EUR, FJD, GEL, GHS, GMD, GNF, GTQ, GYD, HNL, HRK, HTG, HUF, IDR, ILS, INR, JMD, JOD, JPY, KES, KGS, KHR, KMF, KRW, KZT, LKR, LRD, MAD, MDL, MGA, MKD, MMK, MWK, MXN, MYR, NIO, NPR, PAB, PEN, PHP, PKR, PLN, PYG, RON, RSD, RUB, RWF, SLL, SRD, SVC, THB, TJS, TND, TRY, TZS, UAH, UGX, USD, UYU, UZS, VND, XAF, XOF, ZAR, ZMW, BYN Go to site Read the full review
$1	1 - 2 days	USD 40.00	0.842	EUR 4,177	Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.	Go to site	Compare	Show details	Details Minimum transfer amount 1.00 Transfer methods Online Transfer options Regular payments, One off payments Customer service Phone, Chat, Email Available currencies AED, ARS, AUD, BDT, BGN, BRL, BWP, CAD, CHF, CLP, CNY, COP, CRC, CZK, DKK, EGP, EUR, GBP, GEL, GHS, HKD, HRK, HUF, IDR, ILS, INR, JPY, KES, KRW, LKR, MAD, MXN, MYR, NGN, NOK, NPR, NZD, PEN, PHP, PKR, PLN, RON, RUB, SEK, SGD, THB, TRY, TZS, UAH, UGX, USD, UYU, VND, XOF, ZAR, ZMW Go to site Read the full review
$1	Within an hour	USD 3.99	0.839	EUR 4,189	WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.	Go to site	Compare	Show details	Details Minimum transfer amount 1.00 Transfer methods Online, Bank Account to Bank Account, Cash Transfer Transfer options One off payments Customer service Phone, Email Available currencies AED, ALL, AMD, AOA, ARS, AUD, BAM, BBD, BDT, BGN, BHD, BIF, BOB, BRL, BWP, CAD, CDF, CHF, CLP, CNY, COP, CRC, CVE, CZK, DKK, DOP, EGP, ETB, EUR, FJD, GBP, GEL, GHS, GMD, GNF, GTQ, HKD, HNL, HRK, HTG, HUF, IDR, ILS, INR, ISK, JMD, JOD, KES, KGS, KHR, KMF, KRW, KWD, KYD, KZT, LAK, LKR, LRD, LSL, MAD, MDL, MGA, MRO, MUR, MVR, MWK, MXN, MYR, MZN, NAD, NGN, NIO, NOK, NPR, NZD, OMR, PAB, PEN, PHP, PKR, PLN, PYG, RON, RUB, RWF, SCR, SEK, SGD, SLL, SOS, SRD, THB, TJS, TND, TOP, TRY, TZS, UGX, USD, UYU, VND, WST, XAF, XCD, XOF, ZAR, ZMW, BYN Go to site Read the full review
USD 10,000	1 - 2 days	N/A	N/A	N/A	Dunbridge Financial offers diverse transfer options to more than 120 countries. Powered by Currencycloud.	Go to site	Compare	Show details	Details Minimum transfer amount USD 10,000.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Chat, Email Available currencies AED, AFN, ALL, AMD, ARS, AUD, AZN, BAM, BDT, BGN, BHD, BIF, BMD, BOB, BRL, BWP, BYR, CAD, CHF, CNY, COP, CRC, CZK, DKK, DOP, DZD, EGP, ETB, EUR, FJD, GBP, GEL, GHS, GMD, GTQ, HKD, HNL, HRK, HUF, IDR, ILS, INR, IQD, ISK, JMD, JOD, JPY, KES, KGS, KHR, KMF, KRW, KWD, LAK, LBP, LKR, LRD, MAD, MDL, MGA, MKD, MMK, MNT, MOP, MUR, MVR, MXN, MYR, MZN, NGN, NIO, NOK, NPR, NZD, OMR, PEN, PGK, PHP, PKR, PLN, QAR, RON, RSD, RUB, RWF, SAR, SBD, SCR, SEK, SGD, SLL, THB, TJS, TND, TRY, TTD, TWD, TZS, UAH, UGX, USD, UYU, VND, VUV, WST, XOF, XPF, YER, ZAR, ZMW Go to site Read the full review

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

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:

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:

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.
Make a payment. Deposit the funds you want to transfer via electronic funds transfer, debit card or credit card.
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

Pros

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.

Cons

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

Your beneficiary can receive the money in one of three ways:
- Direct bank deposit into their bank account
- Funds credited onto their mobile wallet or phone
- Cash pickup at more than 250,000 locations worldwide

Image source: Supplied, Photographer: Exchange4free

Thank you for your feedback!

Zak Killermann

Zak Killermann is a writer at Finder. He’s ghostwritten hundreds of articles on fintech, finding his love for publication at St. Cloud State University. Traveling internationally for nearly half his life — and getting burned once by an OTC money exchange — Zak's vowed not to settle for anything short of the mid-market rate again.

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Exchange4free review

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

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