From 29 January 2019, Currency Online will no longer be available as it merges with XE Money Transfer. Check out what other money transfer services you can use to send money from the Philippines.
If you already have an account with Currency Online, you don’t need to worry – you’ll be automatically transferred to XE.
Currency Online are the specialists in transferring money online. They have operated online since 1997 and have years of experience assisting individuals in transferring their funds to their desired currency online. You can transfer money online with Currency Online whenever you want and wherever you are with up to date information on currencies updated every five seconds.
Currency Online offers a range of currencies, but sometimes with limited options
Depending on what type of contract or account you open up, you may have more or less options available to you for transferring money.
With Spot Contracts, all currencies are offered for exchange and you can exchange immediately. However, with Forward Contracts, you can only lock in rates for up to 15 currencies.
The following currencies are available on Currency Online:
- Australian Dollars
- Canadian Dollars
- Great Britain Pounds
- Japanese Yen
- New Zealand Dollars
- Swiss Francs
- Central Pacific Franc
- Czech Republic Koruna
- Danish Krone
- Fijian Dollars
- Hong Kong Dollars
- Hungarian Forint
- Mexican Peso
- Norwegian Krone
- Papua New Guinean Kina
- Philippines Peso
- Polish Zloty
- Swedish Krona
- Singapore Dollars
- Soloman Island Dollars
- Thai Baht
- Tongan Pa’Anga
- South African Rand
- Samoan Tala
- United Emirates Dirham
- Vanuatu Vatu
Depending on what currency you transfer and how much you transfer, you may be hit with a transaction fee. Currency Online transfers are available 24-hours a day and there is a toll-free help desk available if you require help or have any questions.
Currency Online foreign exchange rates
Currency Online updates the foreign exchange rates every five seconds so you have the most up to date information when transferring money. They offer live charts, commentaries, rate alerts and Twitter updates so you can have the latest exchange rates and information at your fingers.
The rates are updated on the website itself every five seconds and you can watch the charts to see any changes and fluctuations in the exchange rate that interests you. Also, you can set up alerts so you will know any movements. It’s important to remember that exchange rates are very volatile and can change at any time. This is why it’s so important to get up to date information through Currency Online.
How much does it cost to transfer money?
If you are transferring a certain amount of money, Currency Online offers zero fees. For example, if you’re selling more than PHP394,000, there is no fee. If you transfer less than this amount, you may be charged a modest fee. Your fee will also vary depending on whether you are transferring money online or on the phone. It’s best to check directly with Currency Online to see how much it will cost you to transfer money as it varies depending on the currency and the amount you are transferring.
Minimum transfer amount and available countries
Currency Online does not have a minimum transfer amount, unlike many other online services. This means you can make transfers regardless of the amount you’re transferring. Currency Online offers over 25 currencies for transfer as listed above in the table, with the majority of major currencies available.
However, Currency Online does not offer currency transfer to people located in the United States or Canada. There are also some restrictions around other Canadian transactions and what contracts are available. Those located outside of the United States and Canada can still make payments to and receive payments from the United States and Canada.
The registration and transfer process
Registering for Currency Online is simple. You can register online directly through the Currency Online website, free of charges. You’ll then have to select what type of contract you want. You can take out a spot contract (used for immediate money transfers) or a forward contract (where you enter into a contract at the current market rate and make payments in the future).
Once you have registered, transferring money online is simple. You can do it all online, including arranging international money transfers, sending payments or moving foreign currencies.
Why choose Currency Online International Money Transfers?
- Real time with real rates. Currency Online offers real-time rates so you’re kept up to date with accurate and timely exchange rates, helping you to make informed decisions.
- Safe and secure. Currency Online is a safe forum and your money will be secure. Currency Online follows best practice compliance guidelines and has years of experience providing a safe service.
- Easy to use. Transferring money online with Currency Online is simple and easy. It’s designed so you can do it all yourself online and there’s help available when you need it.
What other products and services does Currency online offer?
- Market orders. With market orders, you select a pre-determined rate with which you want to transact. Currency Online will monitor this for you and you can place, modify and cancel market orders free of charge.
- Multiple payments. Currency Online allows you to pay multiple recipients within one transaction or from the money held in your account. This leads to a smooth process when paying more than one person or supplier.
- Market information. With Currency Online, you get up-to-date information on the currency market 24-hours a day and you can also opt in for rate alerts.
- Payment services. Through Currency Online, you can settle purchased deliverable currency to beneficiaries. All information on your payments is in real-time and all your information is available for viewing. You can also request payments to beneficiaries, pending you have funds available in your account.
Pros and cons
- Open 24 hours a day. You can jump on Currency Online and transfer money internationally at any time. It is open 24-hours a day, 7 days a week. This is a major convenience and allows you to get access to the best deals.
- No minimum transfer amount. Unlike some other services, there is no minimum transfer amount required.
- Save money. With Currency Online you pay low fees and in some cases can also avoid paying fees altogether. Aside from the standard bank Telegraphic Transfer Fee, there are no other fees, and this fee can even be avoided if you reach the threshold.
- May be charged a fee if you don’t reach the minimum threshold. If you don’t reach the minimum threshold, you will be charged a fee for transferring money.
Frequently asked questions
- Why should I use Currency Online rather than my bank? Currency Online is a specialist in online money transfers and transferring money. It has years of experience in this area and can offer you lower rates and fees compared to your bank.
- What type of service does Currency Online offer? Although Currency Online has a DIY model, there is still customer service available when you need it. There’s a hotline and online chat is also available.
- What if I’ve never done foreign exchange before? Currency Online has Customer Relationship Managers on hand to help you through the process. It also offers online training for the website.
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