Businesses can save up to 4% on currency transfers by using corporate foreign exchange services compared to a commercial bank account. In our guide, we explain how businesses can save money on their international payments as well as provide a comparison tool so you can compare the best business money transfer exchange rates.
Compare Commercial Money Transfer Providers
| Currency Broker | Number of Currencies | Min Transfer | Forward Contracts | Personal Transfers | Business Customers | Same Day | Currency Options | Year Founded | Annual Transfers | Amount of Customers | Get A Quote |
|---|---|---|---|---|---|---|---|---|---|---|---|
 | 42 | £1,000 | 12 months | ✔️ | ✔️ | ✔️ | ❌ | 2015 | £2bn | 50,000+ | Visit Key Currency |
 | 55+ | £250 | 12 months | ✔️ | ✔️ | ✔️ | ❌ | 1998 | £2.4bn | 1,000,000 | Visit OFX |
 | 30+ | £3,000 | 24 months | ✔️ | ✔️ | ✔️ | ✔️ | 2001 | £6bn | 30,000+ | Visit Global Reach |
 | 40 | £100 | 24 months | ✔️ | ✔️ | ✔️ | ❌ | 2004 | £7.5bn | 325,000 | Visit TorFX |
 | 40 | £100 | 12 months | ✔️ | ✔️ | ✔️ | ❌ | 1996 | £7.5bn | 325,000 | Visit Currencies Direct |
Compare Exchange Rates
Use our exchange rate comparison tool to see which commercial Fx provider can give you the best exchange rate. Our exchange rate comparison too provides the live and client rate based on market up percentages providers have supplied us with.
Side-By-Side Comparison
Use our side-by-side corporate money transfer provider account comparison to compare the best commercial FX accounts by pricing, market access, account types and services.
Best Business Money Transfer Accounts 2022
- Global Reach – best business money transfer provider
- Key Currency – very good exchange rates and service
- OFX – widest range of currencies for businesses & zero transaction fees
- Currencies Direct – excellent personal service
- TorFX – good overall business exchange rates
What are corporate currency transfer specialists?
Money transfer companies offer exchange rates that are much better than banks and because they specialise in foreign exchange the process is much more user friendly. Most established currency brokers do not charge a commission or any fee for paying the money to an international beneficiary.
How to compare business currency exchange & transfer rates?
The foreign exchange industry is very opaque in terms of pricing with some currency brokers still not offering fixed and transparent exchange rates.
So our comparison tables allow you to compare currency rates by showing how far from the mid market a currency broker set their client exchange rates.
Top Tip: Get your account open first, negotiate rates second. Why? All money transfer brokers have to conduct identity checks so opening an account can take some time. Make sure you don’t miss a great exchange rate and get your account in place well ahead of a transaction.
Here are more tips before you make a large currency transfer.
Questions to ask when you compare currency exchange and transfers?
- How from from the mid market are your exchange rates
- Does that include all fees
- Do you offer currency forwards
- How long does a currency transfer take
Compare currency brokers and their fees in our comparison
What to avoid when you compare currency transfers & brokers.
Always ensure that a currency broker is registered with the FCA. You can check the FCA register here for authorised firms.
If a broker does not tell you how far their exchange rates are from the mid-market avoid as they may widen the price.
Always ensure that your currency exchange broker confirms that rates are fixed. You may find that when you compare currency rates you get a preferential rate for your first trade.
Tools to help you compare business exchange rates
The best way to compare a currency rate you have been given by a broker is to ask another one. If you fell that you are not getting the best currency exchange rate simply ask another broker what the rate you have been given is.
For currency broker transfer fees see our comparison table.
Where to find the benchmark rate to compare currency rates
You can find the live mid market exchange rates on site such as Google Finance or Yahoo Finance. To look up an exchange rate simple type the exchange rate you want to compare and search for it online.
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Currency Transfer ReviewsTorFX review Currencies Direct review OFX review Global Reach review Key Currency review |
