CurrencyTransfer review

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

To help you select the best available exchange rates on the market, UK-based CurrencyTransfer operates an online marketplace that aggregates live foreign exchange rates from government-accredited money transfer specialists.

Since it also displays the mid-market rate — the rate at which providers trade among each other — you’ll know which provider offers the better rate.

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Our Verdict

Forget about paying transfer fees with CurrencyTransfer as there aren’t any, no matter what the transfer amount. You’ll also have spot contracts, market orders and forward contracts to help you get the best rates.

But no fees means there’ll be a markup to the exchange rates. And while there’s no minimum or maximum limit to transfer, Currency Transfer accepts that it can’t add much value to transfers under £5,000 or equivalent so you’ll want to check the rates carefully for smaller transfers.

Only a limited number of currencies are supported, transfers can only be made during the week and there’s no mobile app to use.

What is CurrencyTransfer?

Founded in 2014, CurrencyTransfer supports 23 currencies and offers transfers to 26 countries across Europe, North America, the Middle East, Asia and Oceania. Since it charges brokers directly, you won’t have to pay any fees for using the marketplace. CurrencyTransfer also offers a best price guarantee that allows customers to get a refund of the price difference when they’re able to book at a provider offering better rates.

How are CurrencyTransfer’s exchange rates?

CurrencyTransfer aggregates exchange rates from its member brokers. It also allows you to compare exchange rates in real-time with the mid-market rate. This means you can choose the provider offering the rate closest to the mid-market rate, which is often the best option.

If you find a higher exchange rate after booking a transfer with CurrencyTransfer, send an email to to get an on-the-spot refund of the difference.

How much will I pay to send money with CurrencyTransfer?

CurrencyTransfer does not charge any fees for money transfer transactions. The company’s exchange rates are also better than the rates offered by banks. So not only are transfers free, your beneficiary also gets more money when you use CurrencyTransfer’s services.

How much can I send with CurrencyTransfer?

Although CurrencyTransfer does not specifically mention a minimum or maximum transfer amount, it recommends transfers of 5,000 GBP or more to get the best deals. At the time of writing, that’s the equivalent of transferring around €5,515.

What types of transfers does CurrencyTransfer support?

CurrencyTransfer offers bank-to-bank money transfers to 26 countries worldwide.

CurrencyTransfer also offers the following services:

  • Spot contracts for immediate money transfers.
  • Forward contracts, which allows pegging a fixed exchange rate for a small deposit.
  • Market orders, which is divided into:
  • Limit orders, where you get the exchange rate you want for your money transfers.
  • Stop loss orders, which protect your foreign exchange holdings by automatically making a trade before the value goes below a certain rate.

CurrencyTransfer fees and rates

Calculate conversion rates and fees for sending money using CurrencyTransfer. Personal and business rates are the same. The main difference is higher maximum amounts for business transfers.

1 - 1 of 1
Name Product Minimum Transfer Transfer Time Online Transfer Fee
GBP 5,000
1-2 days
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.

How do I send money through CurrencyTransfer?

Follow these steps to send money through CurrencyTransfer:

  1. Register for a free personal account online.
  2. Select the currency you want to transfer and your beneficiary’s location.
  3. Request a quote from money transfer specialists.
  4. Choose the best quote from the various services on the platform, then send your money to the winning broker.

When the broker gets your money, they’ll initiate the transfer to your recipient. To get started, visit CurrencyTransfer's website.

How do I track my transfer?

You can track your transfer transactions from the Trade History option on your personal dashboard.

What should I look out for?

Before choosing a rate from the providers offering quotes, compare them with the mid-market rate. Your lowest rate could be the one closest to the mid-market rate.

Benefits and drawbacks

  • No money transfer fees, regardless of the amount of the transfer amount
  • Better exchange rates than local banks
  • Fast delivery times that may take as little as one day
  • CurrencyTransfer reimburses you the difference if you get a better rate somewhere else
  • Allows sending money to more than one beneficiary using a single rate
  • Offers spot contracts, market orders and forward contracts as hedging mechanisms for your foreign exchange holdings
  • It only supports 23 currencies in 26 countries around the world
  • Pickup options depend on the winning broker. Keep this in mind when choosing a rate
  • May not have much of an advantage for transfer amounts less than 5,000 GBP or about €5,515.
  • You can only send money from Monday to Friday
  • No Android and iOS smartphone or tablet apps
  • Supporting documents like an ID may be required when you sign up for an account.
  • Only supports bank-to-bank transfers

How safe is CurrencyTransfer?

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.

Next steps

  • Before the winning broker can process the transfer to your recipient, you’ll need to send it money from your bank account.
  • Check the status of the transfer via the personal dashboard of your CurrencyTransfer account.

Compare CurrencyTransfer to other services

1 - 11 of 11
Name Product Fastest Transfer Speed Fees (Pay by Bank Transfer) Offer
Wise (TransferWise)
24 hours
From 0.41%
Within minutes
From €3
New customers get unlimited fee-free transfers for their first 3 months. T&Cs apply.
XE Money Transfers
Within minutes
From €0
Atlantic Money
Atlantic Money
Within minutes
Currencies Direct
2 days
Within minutes
From 0.3%
Within minutes
From €0
24 hours
417 days
24 hours
From €0
Within an hour
From $2.99

Bottom Line

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.

Find out more about your money transfer options by checking out our guide to international money transfer services.

Frequently asked questions

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