Enjoy competitive exchange rates and the potential for fee-free transfers when you send money overseas with World First.
| Product Name | World First Foreign Exchange |
|---|---|
| Min. Transfer Amount | USD 1,000 |
| Max. Transfer Amount | No limit |
| Transfer Methods | Online |
| Transfer Options | One off payments, Market orders, Forward contracts |
| Transfer Speed Minimum transfer time | 1 day |
| Banking Partner | Worldfirst (USA) |
| Customer Service | Phone, Email |
| Available Currencies | AED, ALL, AMD, ANG, AOA, ARS, AUD, AZN, BAM, BBD, BGN, BHD, BIF, BMD, BND, BOB, BRL, BSD, BWP, BYR, BZD, CAD, CDF, CHF, CLP, CNY, COP, CRC, CVE, CZK, DJF, DKK, DOP, DZD, EGP, ERN, ETB, EUR, FJD, GBP, GEL, GHS, GMD, GNF, GTQ, GYD, HKD, HNL, HRK, HTG, HUF, IDR, ILS, INR, IQD, ISK, JMD, JOD, JPY, KES, KHR, KWD, KYD, KZT, LAK, LBP, LKR, LRD, LSL, LTL, LVL, MAD, MGA, MKD, MNT, MRO, MUR, MWK, MXN, MYR, MZN, NAD, NGN, NIO, NOK, NZD, OMR, PEN, PGK, PHP, PKR, PLN, PYG, QAR, RON, RSD, RUB, RWF, SAR, SBD, SCR, SEK, SGD, SLL, SRD, STD, SZL, THB, TND, TOP, TRY, TTD, TWD, TZS, USD, UYU, VEF, VND, VUV, WST, XCD, XOF, XPF, ZAR, ZMW |
| Online Transfer Fee | USD 0 |
|---|---|
| Exchange Rate Updates | Daily |
Pros
- Competitive exchange rates
- Spot contracts, forward contracts and hedging options available
- Weekly updates on market exchange rates
Cons
- Small numbers of currencies available
How much will I pay to transfer money with World First?
World First’s fee structure is simple. You’ll pay $10 for transfers of up to $10,000 and no fee for higher amounts.
But because World First is a trusted partner of finder.com, our readers will pay nothing for all eligible transfers. Simply click “Go to site” to take advantage of this exclusive offer.
What types of transfers can you make with World First?
World First only offers bank-to-bank transfers — meaning, funds must be drafted from your bank account, which will then be deposited into your recipient’s bank account. You cannot use cash or a debit or credit card to make the transaction.
While you can’t schedule recurring transfers, World First offers three tools to get the most out of your transfers:
- Spot contracts. Make a one-time transfer at the time of payment.
- Forward contracts. Lock in an ideal exchange rate and schedule a transfer now for up to three years later.
- Limit orders. Use these market orders to execute a money transfer when your ideal exchange rate is met.
Our experience transferring money with World First
Here’s what we found when we sent live transfers to Mexico and France through World First:
- With World First’s transparent fee structure, we paid a flat $10 fee. But you pay no fee for larger transfers to 56 countries.
- In addition to low fees, we received exchange rates within 2.14% of the mid-market rate on average, with rates updated multiple times a day.
- Though we had to call World First for a delivery for our transfer, our funds were deposited into our recipient’s French bank account in a speedy two days.
- World First’s easy-to-use website allowed us to sign up and initiate a transfer in about 4.5 minutes. You also have the option of initiating a transfer by phone.
We recognize World First as a winner of the finder.com Money Transfer Awards 2017 in the category of Most Convenient.
How are World First’s exchange rates?
World First offers customers the opportunity to view live exchange rates and take advantage of rate graphs and economic commentary to better understand developments in the foreign exchange market.
Because World First takes a smaller margin than banks, it typically able to offer better rates than a bank can. In fact, it backs up its exchange rates with the World First Price Promise.
If you get a better quote from another international transfer service, World First will beat it. You just need to:
- Register with World First.
- Inform World First of how much money you’re looking to transfer and the rate you were quoted, including the time of day you received the quote.
Conditions do apply:
- You must have an active trading account with another provider.
- You must have the quote in writing or email to send to World First within three hours of receipt.
- World First cannot give you a rate better than the rate at which they buy the currency.
Pros and cons of using World First
Pros
- Transparent fee structure. Pay a flat $10 fee for transfers of up to $10,000 and no fee for larger transfers.
- Strong exchange rates. Especially when compared with your local bank.
- Easy-to-use website. We signed up and initiated a transfer in about 4.5 minutes.
Cons
- Two-step process. You must first wire your money to World First, which then deposits the money to your recipient’s bank account.
- Social Security number and government-issued ID required. This requirement could deter those without either form of ID.
- High minimum transfers. If you need to send less than $1,000, you may need to find another money transfer provider.
- No live chat option. If you have questions, you’ll need to call or email World First for help.
How can I register and transfer money?
The first step is to sign up for an account. You’ll need to provide:
- Your full name and contact information, including an email address.
- Your country of residence.
- Date of birth and Social Security number.
- Proof of government-issued ID, like your driver’s license or passport.
- Details about your money transfer needs.
Once you have an account, you enter the details of your transaction, including how much money you’re sending, where you’re sending it and who will be receiving the funds. Provide your recipient’s bank account details and the currency you wish to send, and you will be presented with an exchange rate quote.
You can choose to send the money right away or lock in a rate for a future transaction. It’s then a matter of depositing funds with World First from your bank account, and the company will convert the money into your currency of choice and send it to your recipient.
Send over 100 currencies with World First
World First offers a range of popular and exotic currencies to suit a range of countries across the globe. Some of the most popular include:
Shopping for an alternative? Compare competing services to World First.
Compare World First to other providers you may be considering
| Popular providers | |
|---|---|
| Western Union vs. World First | World First vs. TransferWise |
| OFX vs. World First |
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Frequently asked questions
Is there an app available to conduct transfers?
Yes, the World First app is available from the Apple App Store and the Google Play store. It allows you to place transfers whenever and wherever is convenient.
How long does a transfer take?
This depends on the currency you’re sending, the bank you’re using and the size of your transaction. Sterling, U.S. dollars and euros usually transfer the same day that World First receives your cleared funds. With other currencies, it sends your payment out on the date agreed to, but you’ll need to allow one to four days for your funds to reach the recipient.
How do I send my funds to World First?
For your first personal transfer, you will need to send the money by wire transfer. For subsequent transfers, World First is able to receive funds via ACH direct debit.
When will my payment go out to my beneficiary?
World First makes the payment to your beneficiary on the date you agree to when you book your trade. Your beneficiary might not be able to access the money right away, as their bank might take some time to clear the funds for them.
