CurrencyTransfer review

Find the best foreign exchange rates available from this online marketplace.

CurrencyTransfer is a live marketplace in which foreign exchange companies compete for your business. It aims to create a transparent experience with none of the hidden fees that can occur in international payments.

1 - 2 days

Transfer Speed

GBP 5,000

Min. Transfer Amount

No limit

Max. Transfer Amount

Details

Min. Transfer AmountGBP 5,000
Max. Transfer AmountNo limit
Transfer MethodsOnline, Phone, Bank Account to Bank Account, International Money Order
Transfer Speed
Minimum transfer time
1 - 2 days
Online Transfer Fee$0
Available CurrenciesAED, AFN, ALL, AMD, ARS, AUD, AZN, BDT, BGN, BHD, BIF, BMD, BOB, BRL, BWP, CAD, CDF, CHF, CLP, CNY, COP, CRC, CZK, DJF, DKK, DOP, DZD, ETB, EUR, FJD, GBP, GEL, GHS, GNF, GTQ, HKD, HNL, HRK, HTG, HUF, IDR, ILS, INR, ISK, JMD, JOD, JPY, KES, KRW, KWD, KZT, LBP, LKR, LSL, MAD, MDL, MUR, MWK, MXN, MYR, MZN, NAD, NGN, NIO, NOK, NPR, NZD, OMR, PEN, PGK, PHP, PKR, PLN, PYG, QAR, RON, RSD, RUB, RWF, SAR, SEK, SGD, SLL, THB, TND, TRY, TTD, TZS, UAH, UGX, USD, UYU, UZS, VND, WST, XAF, XCD, XOF, XPF, ZAR
Online Transfer Fee$0

CurrencyTransfer allows you to choose the best rate for your money transfer transactions from among its member brokers and it safeguards your money by limiting membership on the platform to brokers with established reputations. It makes sure to display the mid-market rate so you’ll be able to see which provider is offering the better rate.

Why should I consider CurrencyTransfer?

  • No fees. CurrencyTransfer doesn’t charge any money transfer fees, no matter the transfer amount.
  • Fast transfers. Most transfers are delivered in as little as one day.
  • Multiple beneficiaries. You can send money to more than one beneficiary using a single rate.
  • FX tools. You can take advantage of spot contracts, market orders and forward contracts as hedging mechanisms.

What to be aware of

  • Limited currencies. It only supports 28 currencies.
  • Delivery methods. Pickup options depend on the winning broker.
  • Verification required. Supporting documents like an ID may be required when you sign up for an account.
  • Better for larger transfers. Not good value for money on transfers less than £5,000 (or equivalent).

How much are CurrencyTransfer’s fees?

CurrencyTransfer does not charge any fees for money transfer transactions. Instead, you are charged a small markup on the exchange rate.

How are CurrencyTransfer’s exchange rates?

CurrencyTransfer doesn’t have its own set of exchange rates. Rather, it provides a platform from which you can compare multiple exchange rates for the same transfer.

The only costs to you will come from the difference between the exchange rate of the company with which you ultimately decide to complete your transaction and the official (mid-market) exchange rate. That difference is what you pay for making the conversion.

CurrencyTransfer will clearly state the mid-market rate alongside the provided quotes, to ensure there are no hidden costs.

What are the ways I can send money abroad with CurrencyTransfer?

You will need to create an account to transfer money with CurrencyTransfer. However, the website does have a demo platform where you can see a sample of quotes without signing up.

How to send money transfer with CurrencyTransfer

What types of transfers can you make with CurrencyTransfer?

CurrencyTransfer offers bank to bank money transfers in over 28 currencies.

It also offers the following services:

  • Spot contracts. Make a one-time transfer at the current exchange rate offered.
  • Forward contracts. If you need to make a payment at a future date, you can protect yourself from unfavourable changes in the exchange rate by entering into a forward contract up to 12 months in advance.
  • Market orders. These are divided into limit orders (where you set a target exchange rate) and stop loss orders (where automatic traders are made before the value goes below a certain rate).

CurrencyTransfer allows you to transfer money into over 100+ different currencies, including the British pound, New Zealand dollar and the euro. As for the minimum transfer amount, CurrencyTransfer only accepts transfers over £5,000 or the foreign equivalent. This is roughly HKD$47,000 at time of writing (7 July 2022).

How long does an international transfer with CurrencyTransfer take?

Transfer times depend on what currency you are sending and when the settlements are received by CurrencyTransfer. For most currencies, transfer times are around 1 business day. However, this can increase to over 2 business days if settlement funds are not received in time for some currencies. For example, the cut off for ILS is 3.30pm (GMT), so if funds are sent after that the transfer will take over 2 business days.

Transfers typically takeClock icon for transfer speed

1 day

Is CurrencyTransfer safe to use?

Only top Financial Conduct Authority-accredited institutions are allowed to offer services on the CurrencyTransfer marketplace. Data encryption is standard on the platform, and brokers are required to hold funds in segregated accounts that are distinct from those used in their operations.

How does CurrencyTransfer compare to other money transfer services?

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 10 Within an hour HKD 70.00 0.127 USD
628
以透明的匯率,低收費及低最低金額的網上服務作匯款。 Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies. Go to site Show details
USD 10 1 - 2 days HKD 25.00 0.126 USD
627
新客戶可享有首三個月無限次免手續費匯款。New customers get 3 months of unlimited free transfers.
可用15+種貨幣匯款,享有超越銀行的匯率以及快速轉賬時間。 CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Go to site Show details
SGD 1 1 day HKD 21.00 0.127 USD
634
你首兩次港幣$15,000或以下的匯款,手續費全免。Pay no fees on your first two transfers, up to HK$15,000.
象徵式收費以及中間價匯率,可匯款至高達30多個國家。 SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.
Go to site Show details
USD 50 Within an hour HKD 17.50 0.127 USD
635
使用優惠碼FINDER去獲取HK$1,500折扣。Use code FINDER to access the HK$1,500 discount.
InstaReM 提供簡單的匯款服務,大部分的匯款劃一收取0.5%的手續費。InstaReM offers simple transfers with a flat 0.5% transfer fee for most transfers.
Go to site Show details
GBP 5,000 1 - 2 days HKD 0.00 0.125 USD
627
可匯款至20+個國家,無手續費。 CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace. Go to site Show details
USD 2,000 1 day HKD 0.00 0.125 USD
627
TorFX保證提供最佳的匯率。需受條款約束。TorFX guarantees to match any competitor's exchange rate.
以30種貨幣匯款到全球。登記後,將會有一個客戶經理提供支持和引導。 TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
Go to site Show details

Compare up to 4 providers

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

Frequently asked questions about CurrencyTransfer

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