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Global Reach – Securely transfer money overseas in over 50 currencies.
Global Reach offers money transfer services at competitive exchange rates.
Global Reach was established in 2005, and has dealt with more than 25,000 money transfer clients. It aims to offer exchange rates that are much closer to the interbank rate. When compared to the rate major banks offer, Global Reach generally saves customers up to 4%. It provides a “Best Exchange Rate Guarantee”, minimal transfer fees and has handled more than four billion pounds worth of international money transfers. It is authorised by the Financial Conduct Authority (FCA), as an Authorised Electronic Money Institution (AEMI).
To top it off, Global Reach allows individuals and businesses to send money around the world, in over 130 popular and more exotic currencies.
As a global currency specialist, Global Reach purchases foreign currency at wholesale rates; and because it trades in such large volumes of currency it provides exchange rates superior to the banks.
Global Reach provides a Best Exchange Rate Guarantee. If you’re quoted a better exchange rate by another foreign exchange company, Global Reach promises to beat that rate.
To view the current exchange rates available from Global Reach, you need to sign up for a free account. However, the Global Reach website also offers useful currency exchange tools to help you find the current interbank rate.
Compare Global Reach to other money transfer services
Use the currency transfer calculator tool below by entering the amount you want to send and choose the currency you are sending to.
The exchange rates are shown for indicative purposes only and are correct as of 13 March 2018.
NZD Comparison, March 2018
The following comparison shows how in March 2018, when exchanging NZD into GB£250,000, you could save NZ$12,091. The following comparison is based on previous surveys.
|FX provider||NZD/GBP EXCHANGE RATE||NZD COST OF GBP 250,000||SAVING WITH Global Reach|
|High Street Banks||0.512||$488,281||$12,091|
How much does it cost to transfer money with Global Reach?
Global Reach does not charge fees on transaction over its minimum GB£3,000 (approximately NZ$5,800) transfer amount. It’s free to sign up and maintain an Global Reach online account, while other features such as forward contracts also don’t attract extra commission.
Minimum transfer amount and available countries
As a rule, Global Reach only offers transfers of more than GB£3,000 (approximately NZ$5,800), but it does have the facilities to handle smaller amounts. You will need to contact a dealer for more information. There is no maximum transfer amount.
When you need to send money overseas, Global Reach advertises transfers in the following currencies.:
- Australian Dollar
- Bahamian Dollar
- Bahraini Dinar
- Botswana Pula
- British Pound Sterling
- Bulgarian Lev
- Canadian Dollar
- Chinese Yuan Renminbi
- Croatian Kuna
- Czech Republic Koruna
- Danish Krona
- Ghanaian Cedi
- Hong Kong Dollar
- Hungarian Forint
- Indian Rupee
- Israeli Shekel
- Japanese Yen
- Jordanian Dinar
- Kenyan Shilling
- Kuwaiti Dinar
- Mauritian Rupee
- Mexican Peso
- New Zealand Dollar
- Norwegian Krone
- Omani Rial
- Filipino Peso
- Polish Zloty
- Qatari Rial
- Romanian Leu
- Russian Ruble
- Saudi Riyal
- Serbian Dinar
- Singapore Dollar
- South African Rand
- Sri Lankan Rupee
- Swedish Krona
- Swiss Franc
- Thai Baht
- Tunisian Dinar
- Turkish Lira
- Ugandan Shilling
- United Arab Emirates Dirham
- US Dollar
If the currency you require is not displayed, you will need to contact Global Reach to discuss your requirements. You can make contact by phone on +44 (0)20 7989 0000 or email at firstname.lastname@example.orgBack to top
What types of transfers can you carry out with Global Reach?
Global Reach offers a variety of options for transfers:
- One-off payments. A one-off spot transfer that allows you to lock in a competitive exchange rate and send a fast transfer.
- Forward contracts. Forward contracts allow you to fix your exchange rate for up to two years.
- Limit orders. A limit order lets you to set up an automatic transfer, for when your target exchange rate becomes available on the market.
- Market orders. Market orders allow you to minimise risk by targeting favourable exchange rates.
- Regular payments. If you need to make regular transfers overseas, perhaps to pay a mortgage, Global Reach has a Regular Payment Facility to help you save time on transfers.
If you have a question or require assistance with a transfer, Global Reach has a handy FAQ section and detailed information on its website. It has offices in the UK, South Africa and Cyprus, with phone and email support available.
The registration and transfer process
To begin using Global Reach’s service, first you must open an account. You will need to provide your name, contact information and transfer requirements.
Once you have provided these essential details, you will need to supply transfer details, eg, the amount you’re sending, the currency you’re transferring, and where the money is going. You have the option of placing a one-off transfer or using a forward contract or limit order to get the exchange rate you want.
You are then given the chance to review the exchange rate and fee (if applicable) that will apply to your transaction. If you’re happy with the cost of the transaction, you can then submit your transfer.Back to top
What are the pros and cons of using Global Reach?
- A wide range of available currencies. With support for over 40 currencies, and the chance to trade in 90 more, Global Reach offers transfers to a vast range of destinations.
- Flexible. With forward contracts, limit orders and the choice to set up regular payments, FC offers flexible options to help you save time and money.
- Offer of an Exchange Rate Guarantee. Global Reach guarantees to beat the rate of other exchange companies.
- Not New Zealand based. Global Reach’s head office is in the UK and it does not have any branches in New Zealand.
- Difficult to contact by phone. It only accept phone calls during UK office hours, making it more difficult to talk to a dealer.
- Doesn’t offer free phone facilities to New Zealand. Unless you are in Australia, Cyprus, Spain or France, where free phone facilities are available, you will have to pay the full price of an international call.
What other products and services does Global Reach offer?
From foreign exchange dealing to online seller solutions, Global Reach offers a wide range of currency services for businesses.
Have you got more questions?
Q. How much money must I send under a Regular Payment Plan?
You need to send at least GB£500 (approximately NZ$980) per month to use this facility.
Q. Where is Global Reach based?
Global Reach is based in the UK in London, but Kiwi customers can use the company’s transfer service.
Q. What is the minimum amount I can trade?
Global Reach usually doesn’t accept transfers of less than £3,000 (approximately NZ$5,800).
How long do transfers take to be completed?
Registering for an Global Reach account takes just a few minutes. Transfer times vary depending on the currency you are transferring and bank cut-off times, but same-day transactions are possible in many cases.
Global Reach offers a convenient transfer alternative, if you don’t want to accept a low exchange rate from your bank. Compare its features with the services offered by other money transfer companies so you can find the right transfer solution for your needs.
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