Expert, local customer service providing specialized advice on currency exchange. Good exchange rates if you’re transferring larger amounts. Specialized services for businesses and online sellers.
Currencies Direct is a UK-based currency exchange and money transfer provider offering services to individual, businesses, and online sellers. They pride themselves on local expertise — with 21 offices around the world they are able to provide expert local help on currency markets, local regulations, and compliance. They have specialized expertise for transferring to Spain, France, the USA, the UK, Portugal, and South Africa.
Currencies Direct offers tailored solutions depending on your individual money transfer needs, frequency and value of transfers, and several other factors. They provide a wide range of currency exchange and money transfer services, many of which aren’t easily available from other providers.
They do not typically charge transfer fees and have competitive exchange rates. Currency exchange can be carried out over the phone, online, or via their dedicated mobile app. Most transfers between “major” currencies are carried out the same day or the next working day.
They have a comprehensive online platform that provides fast and secure transfers 24x7. You can use the platform to send up to £25,000, get live quotes, pay for transfers, buy currency now and transfer it later, pay for offline transfers, add and manage payees, and send money to more than one payee at a time. They provide competitive exchange rates on higher amounts.
Currencies Direct does well in customer reviews. It scores a respectable 9.2 out of ten on Trustpilot, with 81% of people rating it at 5 stars and an additional 10% rating it at four stars. Only 4.6% of reviewers rated Currencies Direct at one or two stars.
Reviews typically include positive comments around customer support and ease of use. For example, “Excellent professional clear advice from my first enquiry to the final transfer.Secure informed updates of each stage of the transaction.” and “Had a great experience with Jade my account manager. This was my first time using a service like Currencies Direct and they were helpful, upfront and available to answer all of my many questions. Once I initiated my transfers the process was smooth and efficient and my funds arrived on time. Overall a good experience that gave me peace of mind throughout, would certainly recommend to a first-timer!”
The negative reviews were mainly due to misunderstanding the timing of transfers or transfers taking too long. There were also complaints about the need for documentation to setup accounts and the view this was an invasion of privacy. Currencies Direct replied to all negative comments either explaining the situation or offering to resolve any issues.
Overall though, customers are extremely pleased with FairFX’s exchange rates, speed, efficiency, convenience, and customer service.
Yes. Currencies Direct has been in business since 1996 and since then has helped over 150,000 customers transfer over £4.5 billion worth of funds. They are authorised by the Financial Conduct Authority as an Electronic Money Institution. Their FCA Firm Reference number is 900669. They also have the highest possible rating with Dun & Bradstreet (a renowned credit agency) meaning they are considered a low-risk organization.
They have undergone the highest level of regulation to ensure their practises are to the best standards in terms of safety and security. They are registered with HM Revenue & Customs as a money service business and process customer funds through a segregated bank account to keep it 100% safe.
They trade in more than 60 currencies and employ 450 people around the world.
As per FCA regulations, clients’ funds are held completely separate from Currencies Direct own business accounts, in so-called segregated accounts. Should the company have any financial difficulties, your money will therefore be safe. In addition, they subscribe to the Non-Investment Products Code which regulates companies involved in foreign exchange transactions such as sports and forward contracts.
Currencies Direct employs over 250 people in seven countries across Europe, North America, Asia and Africa.
|Time to open an account||A few minutes|
International bank transfer
International bank transfer
|Can you transfer from your mobile?||Yes|
|Advanced currency contracts||Yes|
|Required documents||ID, Proof of Address|
|Type of service provider||Foreign exchange companies|