Currency Direct is a UK-based currency broker platform established in 1996.
It is a well-known and largest remittance provider in the money transfer industry, providing services to both individuals and businesses. It provides a personal account manager, focusing on giving you the best possible service.
In this Currencies Direct Money App review, we completely analyzed the money transfer service and then rated their service, safety, costs, features, and facts, respectively.
Although we divulge customer feedback, which assists you in making the best choice for you.
Let’s take a five-minute read.
Currencies Direct Pros and Cons
Pros:
- It offers you a fee-free structure.
- Having a well-supported team and dedicated account managers.
- Giving you competitive exchange rates.
- Cost saving.
Cons:
- You didn’t receive your funds on time.
- The sending limit is £50k; for more, you need to speak to the account manager.
- Cash picks are not available.
About Currencies Direct Money Transfer
Currencies Direct is an international money transfer service headquartered in London with 22 branches across the globe.
This foreign exchange broker offers you large volume transfers with zero fees and remarkable exchange rates, having acquired a net volume of £10 billion last year.
Currencies Direct’s 24/7 transfer service allows you to make payments in-app or online to over 120 countries.
As of 2015, the Currencies Direct Money Transfer company is owned by Corsair Capital and Palamon Capital, which both are private equity firms.
Also, click to check Atlantic review which technological innovations make your transfers bloom!
Currencies Direct features & services:
Currencies Direct Exchange Rates:
Currencies Direct Money Transfer offers you competitive exchange rates for international transfers.
If you transfer a large amount of money, you will get the best possible exchange rates; the larger the transfer, the more affordable the exchange rate it offers.
If you use Currencies Direct to transfer large sums of money abroad, such as £200,000, you can save £2,000 to £5,000, which is overwhelming!
For larger transfers, you can acquire a great deal and save multiple thousand dollars.
It is also worthy of small transfers, but it becomes more significant for you if you want larger overseas transactions.
Compare Currencies Direct with BOSS Money, who offers the best exchange rates?
Currencies Direct Transfer Fees:
How much does Currencies Direct cost you for transfers? You will charge zero fees, costs, and commissions on your transfers.
Currencies Direct contributes to making your international transfers affordable by providing a fee-fee structure for your overseas transfers.
How long does it take to make an international transfer with Currencies Direct?
You will receive your payment on time with Currencies Direct on the same day you transfer.
It is possible when you make a transfer in popular currencies such as USD, EUR, CAD, and GBP.
For others, it might take one working day to process your transfer.
The minimum time it takes to process your international transfers is 1 hour, and the maximum is 1-2 working days to transfer your funds.
Currencies Direct sending limits:
Currencies Direct gives you 24/7 access to make international transfers above £50k.
But if you want to make payments beyond the above limit, you need to consult with your account manager during working hours.
What methods does Currencies Direct offer to make transfers?
Currencies Direct offers you several methods of transfers for both personal and business purposes to ease transactions:
Bank transfer: One of the ideal methods to pay is through bank transfers.
Debit Card: A debit card is a faster process for transfers than a bank deposit, but it costs more.
As it allows you large money transfers. Then they make an effort to maximize the value of your exchange rates by offering advanced money transfer tools so that you can get the best exchange rates.
Forward contract: With a forward contract, you can set your transfer to a fixed exchange rate for a certain period by depositing a small amount.
Spot contract: With a spot contract, you can send money with a current exchange rate available.
Limit orders: With limit orders, you can set your target exchange rates, and Currencies Direct will process your transfer when your set is achieved.
You can explore more best ways to send money internationally.
Customer Support:
In the UK, Currencies Direct support is available 24/7 via phone, email, and chat. In the USA, you can connect with them by phone or email within a working day.
Is Currencies Direct a safe currency broker?
Currency Direct Transfer money since 1996 has enabled trading of 10 billion in distinctive currencies in the last few years.
It also works efficiently to give you a secure payment connection, as it is authorized and regulated by trusted firms.
Is your money safe with Currencies Direct? Your money and account are also protected by these regulatory bodies. Your funds are separate from the company’s funds.
According to its safeguarding policy, you will receive your full amount back in the event of any incident reported to Currencies Direct.
Take a look to Wise and analyze its legitimacy!
Currencies Direct Legitimacy:
Is Currencies Direct legit? Yes, it is surely considered a legitimate remittance platform as it is regulated by various authorities in all the states in which it operates, which are as follows:
- Currencies Direct is authorized as an electronic money institution by the Financial Conduct Authority (FCA).
- In Canada, it is submitted to the Financial Transactions and Report Centre of Canada (FINTRAC).
- For its services in Spain, it is regulated by the Bank of Spain (number 6716).
- In South Africa, the Financial Sector Conduct Authority regulates Currencies Direct.
- As a money service business, it is authorized by FinCEN in almost 11 states.
Currencies Direct Money App Reviews by Customers
On the Trustpilot page, customers reviewed Currencies Direct as an excellent broker service, giving them 4.9/5 star ratings.
90% of the customers were satisfied with the currency broker and gave it a 5-star rating.
Positive feedback: The customers praise Currencies Direct’s competitive exchange rates, friendly interface, seamless transfer process, and well-trained account managers.
Negative feedback: The customers are dissatisfied about delays in transfers, issues in using the platform and app, and the fact that their accounts are not being opened.
Conclusion: Is Currencies Direct a good currency broker?
Currencies Direct Money Transfer is a trustworthy currency broker service that offers you various catchy features with a zero-fee structure and affordable exchange rates.
Here are some more good features of Currencies Direct that make it beneficial for you:
- You can hold popular currencies like USD and EUR in your wallet.
- Move them with zero charges.
- You can withdraw them in cash.
- Having smart banking features.
- Giving you access to 200 countries.
