International Money Transfers with Currencies Direct Reviews

Information verified correct on December 6th, 2016

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Get more out of your international money transfers with great deals, no hidden costs and simplified processes when you use Currencies Direct.

Currencies Direct offers fast and efficient international money transfers through updated exchange rates and great deals. It does this by treating their customers as partners, understanding what is important to each customer and then helping them with transactions on the phone, or on the Currencies Direct website.

Rates last updated December 6th, 2016
Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received
USD 100 2 days Online, Phone Go to site More

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Currencies Direct are big believers in beating the fees, rates and hidden costs that banks take out of a transfer and offering every customer a simplified process for sending or receiving money overseas. It has been doing this since 1996 and boast years of testimonials that will help you understand their service delivery.

Exchange rates when using Currencies Direct

Currencies Direct offers its international money transfers for both personal customers and businesses. It has competitive rates that promise to beat the rates that banks offer and save you up to 5% on international transfers. The rates below are examples of rates you will receive when using Currencies Direct, they are updated every few seconds, with the below rates taken on 16 March 2016.

Currencies-Direct-Exchange-rates

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What fees can you expect to pay when using Currencies Direct?

Currencies Direct believe in avoiding hidden fees, or delaying transfers to pocket some additional cash. One of the first steps you will have to take in using Currencies Direct, is to create an online account with them.

There are no costs or monthly charges in creating or maintaining account, only transparent fees attached to sending money. Currencies Direct do 90% of their transactions for free and tell you upfront about any costs involved when sending money overseas.

They also have a service for online retailers operating in international marketplaces. Its called the E-tailer account. Below are some screenshots of fees for different marketplace locations around the world.

USA accounts:

Type of feeFee cost
Account setup fee:$0.00*
Monthly account fee:$0.00
On-demand electronic payment report:$0.00 up to 12 months old
Transaction charge/wire fee:$14.00
Payment investigations fee (per hour):$0.00
Receiving fee on all credits:$0.01% of the value

Currencies Direct may charge an additional fee when you forward US dollars from a Currencies Direct receiving account in your own US dollar account without a foreign exchange conversion.

*Minimum monthly sales are required to qualify for this.

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What are the minimum transfer amounts and available currencies?

To get a minimum and maximum transfer amounts for personal use, you will need to fill out the online form on Currencies Direct and get a quote on the transfer you would like to do. Below is listed the supported currencies you can send and receive money with when using Currencies Direct.

USD (US dollar)HUF (Hungarian Forint)
AUD (Australian dollar)ILS (Israeli New Sheqel)
CAD (Canadian dollar)JPY (Japanese Yen)
EUR (Euro)MXN (Mexican Peso)
GBP (Pound sterling)NOK (Norwegian Krone)
NZD (New Zealand dollar)OMR (Omani Rial)
AED (UAE Dirham)PLN (Polish Zloty)
BWP (Botswanan Pula)QAR (Qatari Rial)
CHF (Swiss Franc)RUB (Russian Rouble)
CZK (Czech Koruna)SAR (Saudi Riyal)
DKK (Danish Krone)SEK (Swedish Krona)
HKD (Hong Kong Dollar)SGD (Singapore Dollar)
HRK (Croatian Kuna)THB (Thai Bhat)
ZAR (South African Rand)TND (Tunisian Dinar)
TRY (Turkish Lira)
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What transfers options do you have with Currencies Direct?

Currencies Direct offer a couple of options to personal and business users for doing international money transfers. When using these services, you will be able to speak to customer support on the phone or through email if you need help at any time of completing the process. Currencies Direct also has a level 1 safety rating, and are authorized by all necessary legal entities for the services they provide. Personal services include the following:

  • Spot contracts.
  • Forward contracts.
  • Regular transfers.
  • Limit orders.
  • Rate watch.
  • Buying or selling overseas property.
  • Online money transfers.
  • Emigration (sending money ahead without worry).
  • Travel money and international study travel money.

Businesses services when using Currencies Direct include the above, as well as:

  • Stop orders.
  • E-tailers.
  • Suppliers payroll.
  • Multiple payments.
  • Risk management.
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How can you send and receive money using Currencies Direct?

Before carrying out any transfers with Currencies Direct, you will need to register an online account with them. There’s no need to worry about costs, as each account is free and has no maintenance cost involved. The only charges you will experience will be for certain transfers, but most of these will be free as well.  You can send currency or make payments to more than one recipient with your account. It will work as follows to register an account:

  1. Specify the transfer options you are interested in along with your email.
  2. Enter your personal details for your personal account.
  3. Confirm and activate your account.

How will it work for you to send money overseas?

  1. You will need to complete the process above, whether you will be sending money through your online account or whether it will be over the phone.
  2. Specify the currency, amount and location to where you want to send an amount.
  3. Make your payment to Currencies Direct.
  4. The funds are sent as soon as they are received, without unnecessary delay. Times to popular locations range from 24 to 48 hours.
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What are the benefits and drawbacks of using Currencies Direct?

Benefits

  • Send and receive funds from abroad.
  • Create an account and send money from supported locations and currencies.
  • Interbank rates that are updated every few seconds.
  • No fees for 90% of transactions.
  • International transfer services for businesses.
  • Book rates in advance.
  • Competitive exchange rates that save money.
  • Excellent customer support history.
  • Supports big transactions like property sales.

Drawbacks

  • Not all global currencies are supported.
  • No cash pickup options specified.
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Currencies Direct offer more than just international money transfers

Currencies Direct are concerned about more than just personal money transfers overseas. They offer the following services as well:

  • Overseas property. Remove the complications with currencies exchanges when dealing with overseas property.
  • Emigration. Eliminate the worries of foreign exchange when using the Currencies Direct Emigration service.
  • E-tailers. This is a Currencies Direct product that helps online retailers with their international transfers.
  • Business Services. Currencies Direct offers businesses services that include market views, cash management, risk management, deal executions, making payments internationally and also has premier business accounts available through various location zones.
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Have more questions about Currencies Direct?

Why do you need to register with Currencies Direct to do a transfer?

When you register you get access to the Currencies Direct online system that allows you to easily send and receive international funds. This also gives you access to an account manager that who can give you some live market quotes of the phone. Registration is free and has no maintenance or hidden fees.

Can you trust Currencies Direct with your money?

They are registered with the FCA which means your money is protected by their code of ethics. The money is kept in a segregated account so that your money is not used to run the business.

How long do transfers take?

This depends on where you are sending funds and the time it takes for you to settle on a quote with Currencies Direct. Sending money to Europe, for example, has taken only a day in the past, but can generally be expected to take between 24 and 48 hours.

Can you receive money from overseas?

Yes you can, you only need to specify the amount you will receive and where the foreign money needs to be allocated.

How are exchange rates calculated?

Exchange rates are bought at a wholesale rate and these savings go to making customer’s transfers possible. The rates change every few seconds but the agreed upon rate will remain once it is decided.

What fees will you need to pay when using Currencies Direct?

The majority of the transactions, about 90%, are done for free.


Currencies Direct has years of experience in the international money transfer game and with their promise to beat the banks and save up to 5% on overseas transfers, it’s a strong contender to consider for your next personal currency exchange.

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