RationalFX – A review of the international money transfer service

RationalFX offers a fast transfer service, with better exchange rates than the high street banks.

RationalFX was founded in 2005. As of February 2017, the company has transferred over $8 billion for over 80,000 clients.

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£4

Fees (pay by bank transfer)

£2,500

Minimum transfer amount

Details

Product NameRationalFX
Pay byCredit card, Debit card, Bank transfer
Receiving optionsBank account
Customer servicePhone, Email
Available currenciesAED, AUD, BBD, BGN, BHD, CAD, CHF, CZK, DKK, EUR, GBP, GHS, HKD, HRK, HUF, ILS, INR, JMD, JOD, JPY, KES, KWD, MXN, NOK, NZD, OMR, PHP, PLN, QAR, SAR, SEK, SGD, THB, TRY, UGX, USD, ZAR
Bank account required?Yes
Personal account manager?Yes

RationalFX exchange rates

As an independent commercial foreign exchange provider, RationalFX can purchase currency in bulk, at wholesale rates. This means it can afford to offer favourable exchange rates compared to those offered by high street banks.

RationalFX claims that they can save their customers as much as 10% on their international money transfers compared to banks.

1 - 1 of 1
Name Product Filter values Fastest transfer speed Fees (pay by bank transfer) Learn more
RationalFX
24 hours
£4

View details
Get a great deal for your international money exchange with no commission, no hidden costs and a guaranteed exchange rate.
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How much does it cost to transfer money with RationalFX?

For any transaction under £4000, RationalFX charges a £4 fee.

This fee is waived if you are using a regular payments service or if you are transferring funds above £4000. RationalFX make their profit from the difference between the wholesale rate and the exchange rate you agree on.

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Minimum transfer amount and available currencies

There is no minimum transfer amount with RationalFX. There is, however, a cost of £4 to transfer amounts under £4000.

The list of currencies you can purchase using the services of RationalFX include, but do not limit to:

  • US Dollar
  • Canadian Dollar
  • Mexican Peso
  • Australian Dollar
  • New Zealand Dollar
  • Swiss Franc
  • Czech Koruna
  • Euro
  • Pound Sterling
  • Croatian Kuna
  • Hungarian Forint
  • Norwegian Krone
  • Polish Złoty
  • Romanian Leu
  • Swedish Krona
  • Hong Kong Dollar
  • Israeli Shekel
  • Japanese Yen
  • Czech Republic Koruna
  • Danish Krone
  • Indian Rupee
  • Moroccan Dirham
  • Saudi Riyal
  • Singapore Dollar
  • Thai Baht
  • New Turkish Lira
  • Mauritius Rupee
  • Bahrain Dinar
  • South African Rand
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What types of transfers can you carry out with RationalFX?

  • Spot contracts. Make a one-time transfer at the current exchange rate offered.
  • Forward contracts. If you need to make a payment at a future date, you can protect yourself from unfavourable changes in the exchange rate by entering into a forward contract. You and RationalFX will agree to make the transfer at a specified date, at a predetermined price.
  • Regular payments. Making regular transfers abroad can get confusing, as the currency exchange rates fluctuate constantly. RationalFX can arrange a series of fixed-price transfers to alleviate this worry.
  • Limit orders. This gives you a way of taking advantage of changes in the exchange rates, while still having regular payments taken care of for you. Provide RationalFX with criteria, and they will put the transfer through when the exchange rates meet them.
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The registration and transfer process

You can request a quote from RationalFX without opening an account. The company will need your:

  • Full name
  • Phone number
  • Email address
  • Currency you have
  • Currency you need
  • Transfer amount

You can also sign up for an account at this stage if you wish.

If you agree with the quote you receive, you can pay RationalFX by bank transfer, debit card or credit card. Once they receive your funds, they’ll send the money to your recipient’s account within 24 hours.

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What are the pros and cons of using RationalFX?

Pros

  • Daily Market Report. RationalFX allows you to monitor (for free) the foreign exchange market, allowing you to transfer funds when the market is working in your favour.
  • Better exchange rates. Save as much as 10% with RationalFX. They offer better exchange rates than those offered by your bank
  • Transfer options. From limit orders and forward contracts to one-off transfers and regular payments, RationalFX offers flexible transfer options to help you save time and money.

Cons

  • No Cash Pickups. RationalFX only allows bank to bank transfers.
  • Transfer Fees. You’ll need to be willing to pay a small transfer fee when you send money with RationalFX.

How does RationalFX compare to other services?

Table: sorted by promoted deals first
Our table below lets you compare services you can use to send money abroad. Compare fees, exchange rates and discounts from different money transfer services, and when you have made your choice, click Go to site.
1 - 20 of 20
Name Product Filter values Fastest transfer speed Fees (pay by bank transfer) Learn more
TorFX
Within minutes
£0

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TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
Key Currency
24 hours
£0

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Make same-day transfers in all major currencies across Europe.
Wise (TransferWise)
Within minutes
From 0.41%

View details
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
Equals Money Account
Equals Money Account
3 hours
£0

View details
Equals Money sends money overseas in 140+ currencies.
OFX
24 hours
£0

View details
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
CurrencyTransfer
24 hours
£0

View details
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
Currencies Direct
24 hours
£0

View details
CurrenciesDirect makes transferring money abroad simple with bank-beating exchange rates.
PassTo
Within minutes
From £1.40

View details
No fees on your first transfer. Refer 3 friends to PassTo and earn £50 once they each make a transfer of at least £200. They'll earn £5 too. T&Cs apply.
PassTo specialises in remittances to bank accounts and cash pickup locations in 45+ countries.
Atlantic Money
Within minutes
£3

View details
Remitly
Within minutes
From £0
SPECIAL OFFER ✓ Get £10 off with code FINDER

View details
Remitly has quick, affordable transfers around the world, with both express and economy options.
CurrencyFair
Within minutes
€3

View details
Special offer: New customers get unlimited fee-free transfers for their first 3 months. T&Cs apply.
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Revolut
Within an hour
From £0
SPECIAL OFFER ✓ Sign up and get a free £10 top-up plus 1 month of Revolut Premium

View details
Sign up with Finder to get 3 months of Revolut Premium for free. T&Cs apply.
Revolut is a digital bank that sends money fast to 30+ currencies, often with no fee added to the exchange rate.
WorldRemit
Within minutes
From £1.99
SPECIAL OFFER ✓ Use promo code 4FREEFINDER to send your first 4 transfers with no fee. Conditions apply.

View details
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
OFX
24 hours
£0

View details
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
TorFX Business
Within minutes
£0

View details
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
Currencies Direct Business
24 hours
£0
SPECIAL OFFER ✓ https://www.currenciesdirect.com/en/info/refer-a-friend

View details
CurrenciesDirect makes transferring money abroad simple with bank-beating exchange rates.
OFX Business
24 hours
£0

View details
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
CurrencyFair Business
Within minutes
€3

View details
Special offer: Zero fees on your first 10 transfers.
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
WorldFirst Business
24 hours
£0

View details
WorldFirst sends 60+ currencies at competitive rates with no fees. If you find a better eligible quote, WorldFirst will beat it.
Lloyds Bank International Transfers
24 hours
Varies

View details
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What other services does RationalFX offer?

RationalFX also offers some additional services of particular use to businesses.

As an example, if you often have customers abroad, you can integrate the RationalFX platform on your website to facilitate their payment.

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4 Comments

    Default Gravatar
    Zahara
    May 1, 2017

    Do you have mobile transfer services?
    If yes, how much in British pounds £300 to Kenyan shillings?

      Avatarfinder Customer Care
      Anndy
      August 1, 2017

      Hi Zahara,

      Thanks for your question.

      Yes, there are several companies that offer money transfer service to Kenya through mobile. You may compare your options here.

      Cheers,
      Anndy

    Default Gravatar
    Mr
    March 21, 2017

    I have a cousin in the Russian Federation who wants to send me £300 what is the best way for him to send the money and are there any online company he can do this with using his bank card?

      Avatarfinder Customer Care
      Anndy
      July 22, 2017

      Hi P,

      Thanks for your question.

      You may check this page to compare companies that would transfer money from the Russian Federation to the UK. With these companies, the sender has the option to pay using a debit or credit card.

      Cheers,
      Anndy

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