We've unpacked the most recently available data from the World Bank to get an idea of how much money is being sent around the globe. Read more…
Global Reach – Securely transfer money overseas in over 130 currencies
Global Reach offers money transfer services at competitive exchange rates.
Global Reach specialises in offering fast, secure and affordable online transfers to personal and business customers. Although based in the UK, Global Reach also allows Singaporean residents to sign up and take advantage of its convenient money transfer service.
Please note: Global Reach is only operational during UK hours (Singapore is 8 hours ahead of UK). There may be delayed response should you decide to sign up with Global Reach.
With more than 25,000 money transfer clients, Global Reach was established in 2005 and aims to offer exchange rates that are much closer to the interbank rate than what the major banks offer, generally saving customers up to 4%. It offers a Best Exchange Rate Guarantee, minimal transfer fees and has handled more than five 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 lets individuals and businesses send money around the world in 130 popular and more exotic currencies.
As a global currency specialist, Global Reach purchases foreign currency at wholesale rates. And because it trades such large volumes of currency, it can offer you exchange rates that are clearly superior to those provided by banks. With a focus on offering exchange rates that are closer than bank transfer exchange rates to the interbank rate, Global Reach also provides a Best Exchange Rate Guarantee. If you’re quoted a better exchange rate from another foreign exchange company, Global Reach promises to beat that rate.
In order to view the current exchange rates available from Global Reach, you’ll 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.
How much does it cost to transfer money with Global Reach?
Global Reach offers a simple and transparent fee structure. If you transfer an amount less than £3,000 (or equivalent), a £10 fee applies. If you want to send £3,000 or more, you don’t have to pay any transaction fee. It’s also free to sign up for and maintain an Global Reach online account, while other features such as forward contracts also don’t attract any extra commission.
Minimum transfer amount and available countries
As a general rule, Global Reach only offers transfers of more than £3,000, but it does have the facilities to handle smaller amounts. There is no maximum transfer amount.
When you need to send money overseas, Global Reach trade in over 130 currencies. Here are some of the most popular currencies traded:
- UAE Dirham
- Australian Dollar
- Bahamian Dollar
- Bahraini Dinar
- Botswana Pula
- British Pound Sterling
- Bulgarian Lev
- Canadian Dollar
- Cayman Island Dollar
- Chinese Yuan Renminbi
- Croatian Kune
- Czech Koruny
- Danish Krone
- East Caribbean Dollar
- Ghanaian Cedi
- Hong Kong Dollar
- Hungarian Forint
- Israeli Shekel
- Indian Rupee
- Jamaican Dollar
- Jordanian Dinar
- Japanese Yen
- Kenyan Shilling
- Kuwaiti Dinar
- Sri Lankan Rupee
- Mauritian Rupee
- Mexican Peso
- Nigerian Naira
- New Zealand Dollar
- Norwegian Krone
- Ormani Rial
- Russian Ruble
- Saudi Riyal
- Singapore Dollar
- South African Rand
- Swedish Krona
- Swiss Franc
- Thai Baht
- Turkish Lira
- Ugandan Shilling
- US Dollar
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 allows you to lock in a competitive exchange rate and send a fast transfer.
- Forward contracts. This option allows you to fix your exchange rate for up to two years.
- Limit orders. This allows you to set up an automatic transfer for when your target exchange rate becomes available on the market.
- Market orders. This allows you minimise risk by targeting favourable exchange rates.
- Regular payments. If you need to make regular transfers overseas, perhaps to pay off a mortgage, Global Reach’s Regular Payment Facility helps you save time on your transfers.
If you ever have a question or require assistance with a transfer, Global Reach offers a handy online FAQ section and detailed information on its website. It also has offices in the UK, South Africa and Cyprus, with both phone and email support available.
The registration and transfer process
To begin using Global Reach services, you must first open an account. To open an account, you will need to provide your name, contact information and transfer requirements.
You will need to provide your basic details, transfer details such as such as the amount you’re sending, the currency you’re transferring, and where the money will be going. You will also 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 will then be given a chance to review the exchange rate and fee that will apply to your transaction. If you’re happy with the full cost of the transaction, submit your transfer.
What are the pros and cons of using Global Reach?
- A wide range of available currencies. With support for 50 currencies, Global Reach offers transfers to a huge range of destinations.
- Flexible with many options. With forward contracts, limit orders and the option of setting up regular payments, FC offers flexible options to help you save time and money.
- Best Exchange Rate Guarantee. FC guarantees to beat the rate of another exchange company.
- Not Singapore based. Global Reach is based in the UK and does not have any branches in Singapore.
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’ll need to send at least £500 (or currency equivalent) per month to use this facility.
Q. Where is Global Reach based?
Global Reach is based in the UK in London, but Singapore 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.
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 that you can find the right transfer solution for your needs.