Note: Transfers can take between 1-2 days.
Send over 20 currencies with World First
World First offers a range of popular and exotic currencies to suit a range of countries across the globe. These include:
Since World First transacts over $4b a year, its able to access the same interbank rate as the mainstream banks. If you get a better quote from another international transfer service, talk to World First and provided it doesn’t result in a loss for World First, it will match it. Here are the conditions:
- You need to be registered with World First
- You need to be registered with another provider (the one you obtained the quote from)
- Get a quote for the same amount and currency pair from the other provider and
- Submit your quote within 3 hours of receiving it from the other provider.
What services does World First Foreign Exchange offer?
What separates World First from most traditional banks and currency brokers is the fact that they offer foreign exchange methods that banks typically reserve for large corporate clients. Here are some of World First’s specialised services for those with individual client accounts:
- Customer service
Get access to customer service on a variety of platforms and speak to a representative online, over the phone or through the iOS or Android app.
- Spot contracts
A spot contract allows investors to buy or sell a currency at today’s market rate. This is different from a forward contract, which settles the value of a currency transaction sometime in the future. If you are looking to make a single payment for an item purchased overseas, a spot contract is usually the best choice.
- Forward contracts
A forward contract sets the price for a foreign exchange transaction at a later date. Forward contracts are best used when transactions do not need to be settled immediately and you believe currency market conditions will be more favorable in the future. World First allows you to fix the price of a currency transaction up to two years in advance, helping to protect you against price volatility and negative surprises in changing market conditions.
- Hedging with currency options
Currency options allow investors to buy (using CALL options) or sell (using PUT options) a specific currency at a pre-set date and time. Currency options also allow individuals one of the best methods for hedging against adverse price movements in market exchange rates. So, for example, if you believe the Australian Dollar is likely to fall in the next few months, it might make sense to purchase a PUT option in the currency for that time frame. World First was the first foreign exchange broker to offer currency options to private clients and some options can be taken without any up-front fees. If you are looking for market protection when buying or selling an overseas property, currency options might be an appropriate choice.
Informative newsletters and rate alerts
Rate alerts – For non-experts, the currency market can sometimes appear difficult to understand and impossible to forecast. World First monitors these markets for their clients and can send alerts during times when favourable investment scenarios arise. Clients at World First can work closely with an investment advisor to assess your individual needs and determine market environments that are most conducive to meeting those goals.
Stay up to date -Getting a favorable exchange rate can make all the difference in a currency transaction. But it can be difficult to know when the market is ready to make its move. The team at World First publishes weekly market updates that is free for clients and offers access to concise information that will aid you in your future currency transactions. These weekly newsletters are most useful for investors that are looking to conduct spot transactions, rather than forward contracts far-off in the future.
How do World First Foreign Exchange Online Money Transfers work?
In the past, you had to physically walk into a bank in order to conduct foreign exchange transactions. Those days are long behind us, as World First offers online transactions enable you to monitor your accounts from a computer or mobile device. World First’s online systems enable you to manage all your foreign exchange transactions and payments 24 hours a day, seven days a week. World First Online is free of charge and allows clients to:
- Fix price rates and conduct currency transactions
- Manage payments and add/change beneficiaries
- Access live account statements
- Access updated economic research and monitor the latest market-moving events
Opening an account
Opening an account and World First is simple and free. It only takes a few minutes and carries no obligation for future transactions. To get started, click here to fill out the preliminary forms and a World First representative will contact you to determine your foreign exchange needs.