World First business transfers review February 2018 | finder.com

Review: World First business transfers – February 2018

International payment solutions for businesses and online sellers.

Whether you’re a business that needs to make payments overseas or an online seller who needs to set up a receiving account, World First offers business solutions that will meet your needs.

Product NameWorld First Business
Min. Transfer Amount$1,000
Max. Transfer AmountNo limit
Transfer Methods
OnlinePhone
Transfer Options
Regular paymentsOne off paymentsForward contracts
Transfer Speed
Minimum transfer time
3 - 5 days
Banking PartnerWorldfirst (US)
Customer Service
PhoneChatBranch
Available CurrenciesAED, AUD, BBD, BGN, BHD, BWP, BZD, CAD, CHF, CZK, DKK, EUR, FJD, GBP, HKD, HRK, HUF, ILS, INR, ISK, JMD, JOD, JPY, KES, KWD, KYD, LKR, MAD, MUR, MXN, MYR, NOK, NZD, OMR, PHP, PLN, QAR, RON, RUB, SAR, SEK, SGD, THB, TND, TRY, TTD, UGX, USD, ZAR
Online Transfer FeeUSD 10
Exchange Rate UpdatesReal time

Enjoy specialized business tools

With World First, businesses can make payments in three easy steps. And once you’ve set up an account, you’ll be assigned an account manager who will work with you to tailor a solution to meet your business’s needs. Choose from spot contracts, forward contracts, firm orders and bulk payments, and take advantage of World First’s currency tools.

Online sellers can sign up for free international receiving accounts in six currencies or send one-off or scheduled supplier payments.

Both businesses and online sellers can initiate a transaction online or over the phone with a live person.

World First is best for

  • Large transfers. With World First you must transfer a minimum of $1,000.
  • Bank-to-bank transfers. You can only make bank-to-bank transfers. If you want to pay with cash or a credit card, you’ll need to look for another provider.
  • Multiple trades. Send one payment from several trades.
  • Limited receiving accounts. Currently online sellers can only set up receiving accounts for UK, US, Europe, Canada, China and Japan.

How much does World First cost?

Exchange rates

World First deals in large volumes, trading more than $7 billion annually with small spreads on strong mid-market exchange rates. Through the World First Price Promise, this provider claims to match or beat any more favorable rate you might find, subject to some conditions.

World First assigns an account manager to each business customer. Your expert specialist suggests products and services that can affect the rate you’re extended for your international payments. It’s an unexpected plus to an already solid service.

Fees

One-off transfers come with a flat $10 fee for amounts of up to $10,000 and no fee for higher amounts.

The fee structure for businesses reflects the volume of business you expect to conduct with World First, which you’ll work out with your assigned account manager. In general, World First indicates these fees can be from $0 to $25 per transaction, and it promises to cover third-party transfer fees where it can.

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Save money on your personal or business international money transfer today. Fill in the form and you’ll be contacted by a foreign exchange expert to have an obligation-free discussion about your options.

With over 17 years of foreign exchange expertise and over $100 billion transferred, OFX can help with all your currency exchange needs, including:

  • Buying property abroad
  • Emigrating
  • Regular overseas payments
  • Risk management
  • Forecasting
Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Services Amount Received Description CTA Details
$1,000 3 - 5 days USD 10 18.557 Online, Phone, Bank Account to Bank Account MXN 92,600 Go to site Show details

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What types of transfers can I make?

A suite of business products and services includes:

  • Spot contracts. This is your typical one-and-done money transfer.
  • Forward contracts. Lock in a solid rate for a future transfer of up to three years.
  • Bulk payments. Easily upload or automate large volumes of international payments at low rates.
  • Firm orders. Set a rate you’re interested in, and World First sends your money just as soon as the market catches up.
  • Seller receiving accounts. Set up receiving accounts for your e-business in US dollars, British pounds, euros, Canadian dollars, Japanese yen and Chinese yuan.

Pros and cons

Pros

  • Easy to use. World First is known for simple registration, setup and payments.
  • Strong exchange rates. Individuals and businesses get competitive rates with this top specialist.
  • Live chat. Speak with a representative online or call customer support for a live agent.

Cons

  • Two-step process. You’ll need to wire your money to World First, which then moves it along the process for deposit to your recipient’s account.
  • High minimum transfers. You’ll need to send at least $1,000 for each one-off business transfer.
  • Limited service. World First isn’t licensed for services in all US states.
  • Unknown fees. Your fee ultimately depends on multiple factors, you’ll only know that fee when you discuss the specific transfer with your account manager.

How do I make international payments through World First Business transfers?

    Sign up for a World First business account to take advantage of tools to leverage currency fluctuations and strengthen your profit margins.
  1. Sign up with World First. Provide your business information, including countries you typically do business with. World First activates your account after confirming your details.
  2. Work with your account manager. Discuss your business needs with a representative who can find the right solutions for your international payments.
  3. Book your rate. Provide your transfer details and agree on your quoted exchange rate.
  4. Wire your payment. Once World First receives your funds, it takes over to transact your order — whether a spot contract, forward order or scheduled payment.

Bottom line

World First provides a slew of solutions for borderless businesses and online sellers that deal with international payments. And it does it all with strong exchange rates and flexible business tools and accounts.

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