Best Business Money Transfers Providers

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Business money transfer providers are specialists at giving businesses the best exchange rates and can save up to 4% on international payments compared to commercial bank accounts as well as helping manage international foreign exchange exposure. In this guide, we have ranked the best business money transfer providers based on customer and expert reviews as well as the services they offer.

Corpay: Best for business currency transfers

Customer rating: 4.8/5 (89 reviews)
  • Currencies: 30+
  • Minimum transfer: £3,000
  • Forward contract: 24 months
  • Annual transfers: £6bn
  • Number of customers: 30,000

From SMEs to FTSE 100 companies Corpay works with companies to understand the risks that could impact your business. Their experienced team will evaluate the extent of foreign exchange exposure, develop multi-currency hedging solutions that are aligned to your budget levels, and can also help streamline global supplier payments.

Is Corpay good for business money transfer?

Yes, Corpay (then Global Reach) won “best corporate currency broker” in our 2023 awards.  Corpay is one of the few currency brokers that also offers currency options. Whilst they do provide excellent exchange rates for currency transfers, this also means they can help with personal and business currency exposure hedging.


  • Excellent exchange rates
  • Currency hedging facilities
  • Personal service


  • Suitable for large clients only

What next?

OFX: Best for zero transaction fees

Customer rating: 4.5/5 (40 reviews)
  • Currencies: 55+
  • Minimum transfer: £250
  • Forward contract: 12 months
  • Annual transfers: £2.4bn
  • Number of customers: 1,000,000

OFX is a leading currency broker offering currency services to more than 55 countries around the world. Originally known as OzForex, it was launched by Matthew Gilmour in 1998 as an information only website. Since then, it has grown rapidly handling more than AUD$150bn transfers with more than a million customers worldwide.

Is OFX good for business money transfers?

Yes, OFX is one of the largest and most trusted currency brokers and help businesses of all shapes and sizes and offers a Xero integrated multi-currency account that lets businesses pay and get paid in over 50 foreign currencies.


  • Bank beating exchange rates
  • Personal service
  • Online or telephone transfers


  • Better for larger transfers

What next?

Currencies Direct: Best for large business money transfers

Customer rating: 4.8/5 (644 reviews)
  • Currencies: 40+
  • Minimum transfer: £100
  • Forward contract: 12 months
  • Annual transfers: £7.5bn
  • Number of customers: 325,000

Currencies Direct is a specialist award-winning currency broker that can help businesses send large amounts of money abroad. They were founded in 1996 and are now part of a group that processes around £10bn in international money transfers per year.

Are Currencies Direct good for business money transfers?

Yes, Currencies Direct can help control the cost of foreign exchange and expand your global reach with fast, low-cost, secure and reliable international payments and risk management.
Currencies Direct offer a good service for large international money transfers. They are a well-established and competitive currency broker for buying a property abroad or for international business payments at bank-beating exchange rates.


  • Great for large currency transfers
  • Get a dedicated account executive to help with transfers
  • You can send money over the phone or do transfers online


  • Better for large transfers

What next?

TorFX: Good for corporate currency forward contracts

Customer rating: 4.0/5 (61 reviews)
  • Currencies: 40+
  • Minimum transfer: £100
  • Forward contract: 24 months
  • Annual transfers: £7.5bn
  • Number of customers: 325,000

TorFX is a currency specialist and currency broker founded in 2004 offering foreign exchange conversion services in 40 currencies. TorFX converts and transfers around £7.5 billion a year and is based in Cornwall, UK.

Is Corpay good for corporate currency transfers?

TorFX can help with import/export payments, foreign payroll, overseas earnings to repatriate, sending money abroad and help hedge currency volatility by offering highly competitive exchange rates, no transfer fees, expert insight and risk management guidance.


  • Personal service
  • Bank beating exchange rates
  • Currency forwards


  • Not great for small transfers

What next?

❓ Methodology: We have chosen what we think are the best corporate currency brokers based on:

  • 20 years in the commercial currency brokerage industry
  • Interviews with the business money transfer provider CEOs and senior management
  • Over 17,000 votes in our annual awards
  • Analysis and testing of the platforms and pricing

What are corporate currency specialists?

Business money transfer providers specialise in helping businesses manage their foreign exchange exposure through:

  • Bank beating exchange rates
  • Currency forward contracts
  • Currency options strategies

Business 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 corporate currency brokers do not charge a commission or any fee for paying the money to an international beneficiary.


  • Better exchange rates: Corporate currency brokers offer much better exchange rates compared to banks
  • Market timing: You can choose the exact time you convert currency giving you more control over the exchange rate
  • Buy now, pay later: You can use a currency forward to lock in a favourable exchange rate for up to two years in the future
  • Personal service: Most business money transfer providers have assigned account executions to help you out with all aspects of a currency transfer


  • Not suitable for small transactions: Sometimes corporate currency brokers will only convert £1,000 upwards, you are better off using a money transfer app for those.
  • Extra administration: You’ll need to open an account with a corporate currency specialist, but you will already have one with your bank.
  • No FSCS protection: Corporate currency brokers are not covered by the FSCS (Financial Services Compensation Scheme), so your money is safer at the bank as they have enhanced protection on customer balances.

Compare Business Money Transfer Accounts

Corporate Currency BrokerNumber of CurrenciesMin TransferForward ContractsSame DayCurrency OptionsGMG RatingGet Quote
Global Reach Currency Broker30+£3,00024 months✔️✔️
Request Quote
Currencies Direct Currency Broker40£10012 months✔️
Request Quote
TorFX Currency Broker40£10024 months✔️
Request Quote
OFX Currency Broker55+£25012 months✔️
Request Quote

🧑‍🎓 Top Tip: Get your account open in plenty of time

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.

How To Compare Business Money Transfer Exchange Rates

These are the questions you need to ask to get the best business currency exchange rate:

  1. How from from the mid market are your exchange rates?
  2. Does that include all fees?
  3. Do you offer currency forwards?
  4. How long does a currency transfer take?

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.

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.

⚠️ FCA Regulation

All business currency exchange services that operate in the UK must be regulated by the FCA. The FCA is the Financial Conduct Authority and is responsible for ensuring that UK corporate currency specialists are properly capitalised, treat customers fairly and have sufficient compliance systems in place. 

Always ensure that a corporate currency broker is registered with the FCA. You can check the FCA register here for authorised firms.

Business Currency Exchange Provider FAQs

Yes, you can hedge currency exposure through currency forwards.

Here is a forward contract hedge example that demonstrates how a currency forward can be used.
In this example we will look at a UK based business who’s European subsidiary will be receiving EUR 750,000 for a new contract and how a FX forward can be used to hedge the exposure.

The EUR 750,000 will be main in monthly instalments over the next 12 months and is guaranteed revenue.

In this forward contract hedge example we will assume that the company has budgeted in their profit forecasts based on the current exchange rate so they need to hedge the EUR 750,000 exposure in case the GBPEUR rate moves against them.

  • This can be done by a series of currency forwards to settle in monthly intervals.
  • This means that each month the company will be able to convert EUR 62,500 into GBP at the exchange rate on the day the contract was signed.
  • Enabling them to accurately budget their profit forecasts.
  • If the exchange rate moves against them they do not have to worry about a decrease in profits.
  • However, as it is a hedge they will not benefit if the exchange rates moves in their favour over the course of the year.

Business money transfer providers make money on exhcnage rate spreads. That is the difference between the buy and sell price of a currency. To find out how much this is, you need to ask: “How far from the mid market is my quote”. 

For more inforamtion on understanding how business currency exchange services make money read our guide: How to compare exchange rates.

You can use our currency quote comparison tool to request quotes from multiple business currency exchange providers in one go. You can then quickly see which currency broker is going to give you the best exchange rate.

For currency broker transfer fees see our comparison table.

Use our currency mark-up calculator to see how much you have charged for your business money transfers.

This article contains affiliate links which may earn us some form of income if you go on to open an account. However, if you would rather visit the business money transfer providers via a non-affiliate link, you can view them directly here:

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