1st Contact money transfers review October 2018 | finder.com
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1st Contact international transfer review – October 2018

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Hassle-free international transfers with low fees and good exchange rates

Make a quick, secure and cost-effective money transfer without setting foot in a bank. Complete your transaction online in three easy steps with excellent rates and low fees. 1st Contact also offers regular promotions, including “refer a friend” and getting your fifth transfer for free.

1st Contact is best for:

  • Frequent users. Your fifth transfer is free.
  • Large transfers. There is no maximum amount, and the more you transfer, the better the rate you’ll get. However, Individual transfers equal to or greater than £10,000 (or the equivalent in another currency) will need additional documentation.
  • Bank-to-bank transfers. Your recipient cannot pick up cash.

How much does 1st Contact cost?

Exchange rate

1st Contact’s exchange rates fall between the interbank rate (the truest exchange rate) and the rate offered by big banks. They are able to undercut the big banks and pass the savings on to you in the form of great rates. While the rates on their site are updated throughout the day, they’re not guaranteed to be the final rate you pay.

Transfer fee

1st Contact’s transfer fee is determined by the amount of the transfer and the destination.

Calculate your fees and exchange rates

I want to send

to

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 0 3 - 5 days - - Show details

Compare up to 4 providers

What types of transfers can I make?

You can make one-off transfers with 1st Contact. You also have the option to secure a rate in advance when transferring a large amount. But you must put down a 10% deposit.

Available currencies

  • AUD
  • GBP
  • BGN
  • CAD
  • CZK
  • EUR
  • HKD
  • JPY
  • NZD
  • NOK
  • PLN
  • QAR
  • RON
  • SGD
  • ZAR
  • LKR
  • SEK
  • CHF
  • THB
  • AED

What are the pros and cons of using 1st Contact?

Pros

  • Great exchange rates. You can get better exchange rates when compared to most banks.
  • Free transfers. Every fifth transfer you make using 1st Contact Forex does not incur any fees.
  • No minimum. There is no minimum transfer amount.

Cons

  • No cash pickup. Your recipient cannot pick up the transfer as cash.
  • Slow speeds. 1st Contact is not the fastest method of making an international money transfer

Transfer limits

There is no minimum or maximum transfer amount. However, when transferring £10,000 (or foreign currency equivalent) or more in a single currency transaction, or £30,000 (or foreign currency equivalent) in a number of transactions over a 12 month rolling period, 1st Contact Forex requires proof of “source of funds” as prescribed by HMRC’s Money Laundering Regulations.

The registration and transfer process

  1. Register. Register online in under two minutes. And there is no obligation to use the account once you have registered.
  2. Activate. Once you register you will receive an email requesting scanned or photographed copies of your passport and proof of your physical address.
  3. Transfer. Log into your account. Confirm the amount you want to transfer, the currency and the recipient’s details. Pay for your transfer, and once 1st Contact receives the funds, they’ll process your transfer.

What is 1st Contact Forex?

1st Contact Forex is an arm of 1st Contact, a financial services company located in London that helps international citizens pursue their lives, careers and travel aspirations in the UK. 1st Contact Forex has been helping people send money around the world for more than 20 years.

See how other services compare to 1st Contact Forex

I want to send

to

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
$0 3 - 5 days USD 0.00 0.859 EUR 4,294 Transfer up to $500,000 with no minimums and no fees. Go to site Show details
USD 1,000 1 day USD 0.00 0.86 EUR 4,298 Exclusive offer: $0 transfer fee
No-limit transfers with competitive exchange rates for 100+ currencies.
Go to site Show details
USD 1 Within an hour USD 3.99 0.86 EUR 4,295 Use promo code FINDER to send your first transfer at no fee to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up. Go to site Show details
USD 1 3 - 5 days USD 50.00 0.867 EUR
4,294
Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks. Go to site Show details
GBP 5,000 1 - 2 days USD 0.00 0.859 EUR 4,294 Get live quotes on exchange rates and take advantage of no transaction fees with no limits on transfers. Go to site Show details

Compare up to 4 providers

Bottom line

Using 1st Contact Forex to send money overseas can lead to savings. However, it’s important to compare your options to find the best way to send money abroad.

Frequently asked questions about 1st Contact

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US International Money Transfers Offers

Important Information*
XE Money Transfer

Transfer up to $500,000 with no minimums and no fees.

WorldRemit International Money Transfers

Use promo code FINDER to send your first transfer at no fee to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up.

World First Foreign Exchange

Exclusive offer: $0 transfer fee
No-limit transfers with competitive exchange rates for 100+ currencies.

TransferWise International Money Transfers

Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks.

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