Currency Solutions - Independent review

All you need to know before sending money with Currency Solutions

7.60/10 Good
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Currency Solutions review by Monito

Currency Solutions, which prides itself on its high quality customer service, has been trusted by over 150,000 clients to transfer £6 billion since its establishment in 2003. You can make single or regular transfers in 35 different currencies, and 95% of transfers are received within 24 hours. Currency Solutions charges no transfer fees and offers among the most competitive exchange rates in the market, which makes them an attractive provider of foreign currency solutions.

Transactions are set up over the phone with a Currency Solutions foreign exchange specialist, who will guide you step by step through the process to make sure all your questions are answered. What’s more, the company will soon be launching an online trading platform to make transactions even more convenient.


PROS
  • No transfer fees
  • Currency Solutions exchange rates are very competitive
  • High quality customer service
  • Excellent reviews on Trustpilot
CONS
  • Might not be the best option for low amounts
  • No online trading platform (yet)
  • Only available in English




Transferring a Large Amount Abroad?

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1,641 customer reviews on Currency Solutions on Trustpilot


2 days ago
by S.E Alexander

5 stars

I was recommended to Currency Solutions …

I was recommended to Currency Solutions by a Financial Advisor. I always prefer to go and see for myself rather than taking recommendations at face value....Read more

I was recommended to Currency Solutions by a Financial Advisor. I always prefer to go and see for myself rather than taking recommendations at face value. The service Mr John Bassett was impeccable and he really went the extra mile to accommodate my financial requirements. He proved that currency solutions can be very competitive. I was offered good advice by currency solutions when the transfer from a Cypriot Bank went astray. Happily, all's well that ends well so full marks to Currency Solutions.

2 days ago
by John

5 stars

Great service

Great service. Everything is made easy for.

3 days ago
by JILL LOCK

5 stars

I would always recommend currency …

I would always recommend currency solutions. They are extremely efficient and everything about the company is good.


More reviews

3 days ago
by Geoff H. Lagos.Portugal

5 stars

I bought Euros at 8.22am this morning …

I bought Euros at 8.22am this morning & having transferred the sterling amount to CS within a few minutes, the Euros were in my account in Lagos...Read more

I bought Euros at 8.22am this morning & having transferred the sterling amount to CS within a few minutes, the Euros were in my account in Lagos Portugal at 9.15 am. Thats what I call real service!!

3 days ago
by Customer Derek Wheeler

5 stars

I have been using Currency Solutions …

I have been using Currency Solutions now for a number of years, I have found them very helpful, give me the best rates, and there staff could not be more...Read more

I have been using Currency Solutions now for a number of years, I have found them very helpful, give me the best rates, and there staff could not be more helpful. I have used other currency in the past but never found one as helpful as they have been. A great company giving a great service. Derek Wheeler.

3 days ago
by Joanne

5 stars

Very friendly and hard working staff

Very friendly and hard working staff. It was very easy to transfer my money too

4 days ago
by Paul Anderson

5 stars

I've been using Currency Solutions for …

I've been using Currency Solutions for many years and have always found their service to be impeccable. The exchange rates are always far superior to...Read more

I've been using Currency Solutions for many years and have always found their service to be impeccable. The exchange rates are always far superior to banks, and the cash is in my account usually the next day. I have no complaints, keep up the good work.

5 days ago
by Customer

5 stars

Highly recommend this service.

Highly recommend Currency Solutions - very professional, excellent service!

06/18/2017
by Patrick Kennedy

5 stars

A first class service at a minimum cost.

We have used Currency Solutions for a number of years now and find them courteous efficient and wholly nice. The staff are always pleasant and say what...Read more

We have used Currency Solutions for a number of years now and find them courteous efficient and wholly nice. The staff are always pleasant and say what they are going to do and more, they actually do it. We now know our dealer Ernie quite well and he knows us so we have no trouble with security issues. All In all an excellent service at a minimum cost.

06/16/2017
by Customer

5 stars

Excellent service

Excellent service - no complaints.

06/16/2017
by David Kerr

5 stars

Excellent and speedy service assured at …

Excellent and speedy service assured at all times. I have used Currency Solutions for over 10 years and have never had any reason to complain about the...Read more

Excellent and speedy service assured at all times. I have used Currency Solutions for over 10 years and have never had any reason to complain about the service. Thoroughly recommended.

06/12/2017
by Leandro Soares Indrusiak

1 stars

Slow and unresponsive

Very quick to request documents and details about me, but very slow and unresponsive when it comes to actually perform a transaction. Several of my emails...Read more

Very quick to request documents and details about me, but very slow and unresponsive when it comes to actually perform a transaction. Several of my emails were never replied, and after two weeks without much progress on a transaction I was told would take a week, I decided I no longer trusted them with my business. Several of the reviews on this website helped me with that decision, and I strongly recommend others to read the longer and detailed reviews in here instead of simply looking at the average scores or at those reviews that simply say "I can recommend this" without any basis.

06/09/2017
by SAB

5 stars

I highly recommend this service

I highly recommend this service

06/08/2017
by Anne

5 stars

Opening the account was really straightforward

Opening the account was really straightforward and the telephone calls received to make sure I was happy with everything was really helpful and made me...Read more

Opening the account was really straightforward and the telephone calls received to make sure I was happy with everything was really helpful and made me relaxed in that I had gone to a reputable company. I was kept up to date on the exchange rates and transactions were very straightforward. Being a widow I could not have wished for a better team to work for me and my personal contact was really friendly I could not have asked for more. Sincere thanks.

06/08/2017
by christopher howson

5 stars

A great company

I have always had good service from Currency Solutions, I have been with them for 2 years and had good and helpful service every time.

06/07/2017
by Richard Hargreaves

5 stars

Responsive

Responsive, professional and friendly service which suits my needs perfectly

06/07/2017
by Kris McDonald

5 stars

Currency Solutions..... My preferred currency exchange provider.

Been great to deal with over the last 6 years. I want a very personal service, I want to deal with real people and I don't mind having to email or phone...Read more

Been great to deal with over the last 6 years. I want a very personal service, I want to deal with real people and I don't mind having to email or phone for the best rate instead "clicking" a mouse, that's why Currency Solutions is my preferred currency provider. Transfers are always in my bank the same day of the transaction. I have done comparison rate checks on several occasions with a few other providers just to ensure I'm still making the correct choice and have always been kept happy

06/07/2017
by Mrs Lesley Izard

5 stars

Excellent service

I have nothing but praise for the team in Currency Solutions Cyprus. They are very polite, nothing too much trouble and if a mistake is made, it is...Read more

I have nothing but praise for the team in Currency Solutions Cyprus. They are very polite, nothing too much trouble and if a mistake is made, it is rectified immediately. When a trade is confirmed, the proceeds are always in our Cyprus account the next day. We have even had it arrive on the same day, This is certainly a better service than we had with our original currency company. It always took an extra day as they did not process it until the day after the trade was confirmed.

06/03/2017
by Jeremy Seavers

5 stars

excellent service and completely …

excellent service and completely reliable.

05/27/2017
by David Holmes

5 stars

Great company which makes a complicated …

Great company which makes a complicated issue very very simple ! And at great rates ! Highly recommend .

05/26/2017
by Mike Wright

5 stars

Excellent personal service

First rate service, my trader keeps me informed at all times of any potential changes in the currency market enabling me to make informed decisions...Read more

First rate service, my trader keeps me informed at all times of any potential changes in the currency market enabling me to make informed decisions concerning my currency dealings. Trader has taken the time to understand me and my business.

05/24/2017
by Colin

5 stars

Fantastic service from Currency Solutions

Fantastic service. My last transaction took only 3 hours to transfer from the UK to my bank a/c in Cyprus. Staff are helpful and experienced and they keep...Read more

Fantastic service. My last transaction took only 3 hours to transfer from the UK to my bank a/c in Cyprus. Staff are helpful and experienced and they keep you informed with up to the minute e-mails on every step in the transaction. Absolutely hassle free.

05/24/2017
by Kim Farmer

5 stars

I always experience an excellent level …

I always experience an excellent level of service from everyone

05/22/2017
by Customer

5 stars

Great and reliable

Great and reliabke

05/20/2017
by Darren Gordon

5 stars

A service so good I almost forgot how …

A service so good I almost forgot how much I saved against what a bank would have cost me! Would highly recommend Currency Solutions to everyone. A...Read more

A service so good I almost forgot how much I saved against what a bank would have cost me! Would highly recommend Currency Solutions to everyone. A special mention for Tanyel who's advice was invaluable.

05/20/2017
by Susie

5 stars

Easy to use

Easy to use, good rates, professional people

05/20/2017
by Keith

5 stars

Best rate I could find

Best rate I could find. Simple to deal with and efficiently handled.

05/19/2017
by Customer

5 stars

everything proceeded exactly as …

everything proceeded exactly as advertised.couldn't have asked for more

05/19/2017
by Hussain Tutla

1 stars

Careful not to do any Exotic Trades …

Careful not to do any India Trades with them. They do not like any INR exchanges, will ask for extra documentation after using delay tactics and...Read more

Careful not to do any India Trades with them. They do not like any INR exchanges, will ask for extra documentation after using delay tactics and stalling your payment. With me they decided they didn't like the trade, reversed it without any notice or reason. Except siting compliance. The beneficiary is know to me personally and has no issues what so ever. Then decide to close the account, and have still not returned funds at time of writing. They were fine with USD and AED fx. But apparently have something against India.

05/19/2017
by Andy Laycock

5 stars

I keep on going back to Currency Solutions...!

I've tried several ForEx firms over the years, but I've been going back to Currency Solutions for about 6 years now, and for good reason... Their deals...Read more

I've tried several ForEx firms over the years, but I've been going back to Currency Solutions for about 6 years now, and for good reason... Their deals are always competitive, their staff are mega helpful and friendly, and they are really quick. I've never had any problem, every deal has gone through as smooth as a knife through butter! Basically 'it does what it says on the tin'... but really well!


Currency Solutions has excellent customer reviews on Trustpilot, with 93% of the over 1500 customers who have given their feedback rating the company 5 stars. They are even in the Top 5 companies in each of Trustpilot’s Currency Exchange, Electronic Payment, and Money Transfer categories. Here’s a summary of what Currency Solutions customers have to say:

Positive
  • Excellent customer service: the dealers are helpful, friendly and professional
  • Simple and efficient process
  • Excellent exchange rates with no transfer fees
  • The money arrives quickly
Negative
  • Currency Solution’s verification process (which they must carry out by law)
  • Very few customers thought they could get a better price elsewhere


Can I trust Currency Solutions ?

Currency Solutions Ltd is a licensed Authorised Payment Institution, and are therefore regulated by the Financial Conduct Authority (FCA) and Her Majesty's Revenue and Customs (HMRC) in the United Kingdom. They offer institutional grade security for their service, including 256-bit SSL encryption with a 2048-bit signature.

As per FCA regulations, clients’ funds are held completely separate from Currency Solution’s own business accounts, in so-called segregated accounts. Should the company have any financial difficulties, your money will therefore be safe.

Currency Solutions employs over 60 people in its London office. Employees give the company a close to 5 star rating on the employer review site Glassdoor, and describe Currency Solutions as a “great company to work for”, a “hardworking pro-active business", and a “very reputable company growing at very fast pace” whose best feature is “the integrity of the staff and management”. The company is headquartered in London, right next to the famous London bridge and the City financial district.

Currency Solutions has served hundreds of thousands of clients and transacted billions of pounds along the years, with thousands of 5 star reviews and very few complaints. They process around half a million payments a year on average, and retain close to 99% of their customers.

Currency Solutions Ltd has been profitable since it was created, and is financially strong with over 3.3 million GBP of net assets. Since Currency Solutions is authorised to sell options, they are required to hold significantly high levels of cash within the company.

Our Currency Solutions review shows that they are a trustworthy provider of foreign currency solutions.


Authorised by the UK Financial Conduct Authority (FCA)
Firm Reference : 630685

 







How Currency Solutions works


1. Create an account in a few moments.

2. Your personal account manager will assist you in setting up your money transfer over the phone.

3.Transfer your money to Currency Solutions through a bank transfer or debit card (UK only).

4. Notify Currency Solutions where to send the money to.

5. Your money is sent to your recipient, and you are informed when it arrives.

Call Currency Solutions to get a free quote


+44 (0)20 7740 0000

 


 

Currency Solutions exchange rates and fees

Transfer fees: Unlike banks and most foreign exchange companies, Currency Solutions charges no transfer fees. This means the entire amount is converted at the agreed-upon exchange rate.

Exchange rates: Depending on the amount of your transfer, Currency Solutions will offer you a competitive exchange rate. The more you transfer, the lower the exchange rate margin they will be able to provide, typically less than 1%. Currency Solutions exchange rates are agreed upon in advance, so that you know exactly how much money will arrive.

Other fees: Since Currency Solution’s accounts are held in the UK, the sending bank might charge fees to transfer the money internationally from a non-UK account to Currency Solution’s accounts. Additionally, the receiving bank outside the UK might charge fees as well for receiving the international transfer. Since Currency Solutions has no control over this, it’s best to ask the sending and receiving banks beforehand to avoid bad surprises.


 

Currency Solutions supported currencies

AED Arab Emirate Dirham
AUD Australian Dollar
BBD Barbadian Dollar
BGN Bulgarian lev
BHD Bahraini Dinar
BRL Brazilian Real
CAD Canadian Dollar
CHF Swiss Franc
CLP Chilean peso
CZK Czech Koruna
DKK Danish Krone
EUR Euro
GBP Great British Pound
HKD Hong Kong Dollar
HRK Croatian Kuna
HUF Hungarian Forint
ILS Israeli Sheqel
INR Indian Rupee
JPY Japanese Yen
KWD Kuwaiti Dinar
MAD Moroccan Dirham
MXN Mexican Peso
NOK Norwegian Krone
NZD New Zealand Dollar
OMR Omani Rial
PLN Polish Zloty
QAR Qatari Rial
SAR Saudi Riyal
SEK Swedish krona
SGD Singapore Dollar
THB Thai Baht
TND Tunisian Dinar
TRY Turkish Lira
USD United States Dollar
ZAR South African Rand

 

Additional services

Regular transfers

In addition to providing an immediate transfer service (so-called “spot contract”), Currency Solutions can also help you make regular transfers. This can be useful if, for example, you need to send your salary abroad or pay off an overseas mortgage.

Forward contracts

If you’d prefer not to be exposed to fluctuations in exchange rates, Currency Solutions will help you set up a forward contract. This will allow you to lock in the current exchange rate for up to 2 years, which can also be useful if you believe the current exchange rate is particularly favorable.


Limit and stop loss orders

A limit order or stop loss order will allow you to make a transfer only if the exchange rate reaches a predetermined level below (stop loss) or above (limit) the current exchange rate.

Options and structured products

Currency Solutions is also authorised by the FCA to sell FX derivatives such as options and structured products. These allow you to protect yourself from negative fluctuations in the exchange rate, while benefitting if rates move in your favor. Examples of options which Currency Solutions can offer include Forward Extra, Ratio and Knock Out options.


Business customers

Are you looking for foreign currency solutions for your business? Currency Solutions also counts many small and medium business customers, and can help you to pay salaries abroad, transfer money to a foreign subsidiary, or pay international suppliers and freelancers.

Useful tools

Finally, Currency Solutions offers a few useful tools on its website, such as the Currency Solutions converter to convert currency based on the interbank mid-market rate, the Currency Solutions IBAN Checker to verify that you have a valid account number, the Currency Solutions SWIFT Checker to ensure that you are sending your money to the right bank, and the Currency Solutions Sanctions Checker to see if there are sanctions on the countries you’re sending from and to.




Which documents will Currency Solutions require to verify my identity?

To comply with anti-money laundering (AML) and know your customer (KYC) regulations, Currency Solutions must verify your identity and address. If you have resided in the UK for at least 12 months and are not sending the money to a third party, they should be able to do this without having to ask you for documents. If not, you will be required to provide verification documents.


Identification Documents

It can be a valid passport or national identity card.

Proof of address

In order to verify your address, Currency Solutions will need a copy of a document from a reliable institution showing your name and your address. This document can be a utility bill, bank statement or driving licence.

Payment reason verification

You will need to inform Currency Solutions verbally of the reason of the transfer. Examples include: "Purchasing an overseas property", "Sending money back home to family" etc..


 


The story behind Currency Solutions

Currency Solutions Ltd was founded in 2003 by three friends - Tien Tran, Harry Enver and Robert-Lee Griffith - who wanted to create a foreign exchange company which would provide the best customer service and exchange rates in the industry. Their goal was to provide consumers and small and medium businesses with a better way to exchange currencies, as the banks offered very poor exchange rates. Since then, the company has helped over 150,000 clients trade £6 billion, now employs over 60 people, and is growing at close to 40% on a yearly basis.

 


Offices

 


United Kingdom

Hobbs Court
2 Jacob Street
London, SE1 2BG.
+44 (0)20 7740 0000

Cyprus

Neophytou Nikolaide 18,
Vardalaboumba Building,
Office 302, 8011,
Paphos
+357 26 813 613

Call Currency Solutions to get a free quote


+44 (0)20 7740 0000

 

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Key facts about Currency Solutions

Service information

Time to open an account A few minutes
Minimum amount -
Maximum amount -
Available languages
English
Personnal transfers Yes
Business customers Yes
Advanced currency contracts Yes
Required documents -

Company information

Type of service provider Foreign exchange companies
Active since 2003
Headquarter London, United Kingdom
Regulated by FCA

Contact information

Contact support -
Service hour -
Twitter @currencytrans
Facebook Currency-Solutions-Ltd-283996884686/


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