4.8
912 Good Money Guide users have given this provider a review rating of 4.8 out of 5 based on their genuine experience.
Excellent87%
Very good8%
Average3%
Poor1%
Terrible1%

Currencies Direct Customer Reviews & Expert Rating

Home > Reviews > Currencies Direct Reviews

Currencies Direct Customer Reviews

Tell us what you think of this provider.

Customer Reviews

Excellent company

1st December 2025

I cannot speak highly enough of this company.

Each member of staff with whom I was in contact , provided excellent service and support, in particular, Lucy, Jayne, Karen and Laura in Spain and Anthony in London.

All through the the transfer process, they were courteous, patient and extremely efficient .

I have no hesitation in recommending Currencies Direct.

Philomena Strachan
Verified

They take your money and then within an hour tell you theiy have suspended your account !!!!

18th November 2025

Opened a new account and paid in £110 which didn’t show up in the balance so I called them and was told without warning the account was suspended pending an investigation into my deposit!!! They have given no reason for withholding the money and I’m now fighting to recover it.

Jeff H
Verified

Delivery is certain

24th February 2025

I have been using Currencies Direct service for more than 3 years. They give reliable updates in Currency Markets and have been a reliable and dependable service

Akwo Humphrey Epie

Easy to use

24th February 2025

The app is quick and easy to use so that transactions are quick easy and reliable

Margaret Sampson

My opinion

23rd February 2025

Have found currencies direct very professional and easy to use

Wayne Reece

Personal service

21st February 2025

Always available on the phone and prepared for you to contact an individual.

Transfers prompt and without a hitch.

Carol Beaver
Verified

Money transfer

20th February 2025

Good exchange rate for international money transfer.

Hiromi Stewart

excellent currency transfer company

20th February 2025

currencies direct offer an excellent currency transfer service,we always send our currency with currencies direct,there exchange rates are always very good and the monies sent in a very short time, thanks currencies direct

Jeremy hill

Very good money transfer business

20th February 2025

Very competitive easy to use app trusted & quick to move money.

Mike Smith
Verified

Formidable

19th February 2025

I have been transferring money to my debit card and looking at the exchange rate all the time. Buying a house in France and what I’ve saved compared to going to Sainsburys will fill our wine cave! Bon santé

Nicola Bennett

Five star service on every level

19th February 2025

I intermittently use their services for exchanging money to send abroad. I cannot fault their politeness , knowledge, patience, support & speed ( to name but a few qualities )

Quite frankly, I don’t know just how I would make these transactions without their assistance

Added to this, they are a company I would trust every time with an additional “human touch”

Ailsa Walker

Efficient

19th February 2025

Easy to register for my currency exchange account, easy to transfer, terms competitive, contacted occasionally but not excessively.

D H Owen

Great customer service and better exchange rates

19th February 2025

I’ve been using Currencies Direct for a few months now to transfer money overseas. I was offered personal assistance to do my first transaction, which was nice. When it came back that there was a fee charged by the receiving bank, I contacted customer service who fixed this so it wouldn’t happen again and even credited me the fee back! I was very happy with their help. I’ve also compared their exchange rates to other companies and what they offer is a good consistent rate better than most (if not all)! My only suggestion for improvement, if I had to make one, would be to somehow make exchanges a little bit quicker as they have taken a few days in the past. Overall I’d be happy to recommend!

Chris
Verified

Exelent

19th February 2025

Been using them for 7 years and find them very efficient

Brian Finnegan

Excellent customer service

19th February 2025

Always at end of phone for advice and instruction. Very easy to use App and move money into different currencies.1

Meryl Roberts

Your money is safe

19th February 2025

Brilliant service, I send money regularly to Spain to pay my mortgage, great rates, and a personal helper as I’m older I sometimes get confused but they are always there to help, very fast and quick way to send money cheers guys

Jacqueline

Great for international transfers

19th February 2025

Great for international transfers with competitive rates for sending funds to support my aged sister in South Africa. Funds transferred promptly & communications regarding transfers etc. very good.

Mike Hewgill
Verified

Professional service

19th February 2025

I have used Currencies Direct for over 9 years for all of my International money transactions. Bank-beating exchange rates and transferred money arrives the same day into my recipients account.

Great company

Ian Tomlinson
Verified

Great service

19th February 2025

Always easy to use system and prompt, helpful service when contacted.

Bob Potter

Fantastic Service

19th February 2025

From day one of dealing with the team , face to face or online Currencies Direct have been spot on.

Explaining exactly what is happening step by step and importantly getting us a great rate ! Thank you to everyone we have dealt with. You made our transition to moving abroad so much easier

elaine taylor
Verified

Best rate and Efficient Money Transfer Service

19th February 2025

I have only used Currencies Direct once when I inherited a sum of US dollars from my deceased mother. Living in the UK, I needed to be transfer the funds to my UK bank. After comparing a few different money transfer services, I opted for Currencies Direct because if their exchange rate and because most other companies were telling me by telephone they wouldn’t be able to do it. Currencies Direct keeps their own bank account in the USA so they are able to put my US bank dollars I to their account, then transfer it too my UK bank account. I may not have explained this precisely but it worked well for me and I intend to use them again should the need arise.

Connie Hurd

Customer service

19th February 2025

The customer service is brilliant : you can always get in touch with an agent , if you need help

Anne D’ HERVE

Exchange and Transfer of Funds

19th February 2025

I’ve found that Currencies Direct are extremely efficient in their operation and helpful. Their website is easy to use and makes the transactions easy.

Mike Mcferran

Excellent service and great rates.

18th February 2025

I can only say that the rates I have received are better than any competition I have found.

Transfers have happened on time and the same day as requested.

Mr Anthony Murphy
Verified

Trust

18th February 2025

I use cd to transfer money to Spain.

I feel that I can trust them and they are always helpful.

Joantine Love

Always competitive rates and an straightforward website to navigate

18th February 2025

I have a personal account to move money to my daughter in Australia. We visit for two months most years so when the exchange rates are favourable l transfer money to her to cover our expenses when visiting. I trust this company and have always found them excellent to deal with.

Christopher Hardaker
Verified

Excellent service

18th February 2025

Have used Currencies Direct for the last five years and transactions are always fast and efficient with great rates and excellent communication. Staff are extremely helpful.

Caroline Peters
Verified

A fantastic reliable service from Currencies Direct.

18th February 2025

I’ve used Currencies Direct since 2003 Personnel account. First initially introduced when purchasing a property abroard. I have and still use their services to make transfers for mortgage & utilities payments. Good exchange rates, fast reliable service. Wonderful staff always on hand to help. Highly recommend. One very happy client. No hesitation to recommend to friends. Well done as always. Thank you.😀

Susan Simkiss

Easy transactions

18th February 2025

Found sending payments easy to carry out

Tracy

Currencies Direct

18th February 2025

I love the service I get from Currencies Direct. Both the ease of money transfers and the currency card for work and leisure trips abroad are great and so easy to do. I can do it all via the Currencies Direct app.

Thanks Currencies Direct and keep up the fantastic service!!!

Philip Robinson
Verified

great rates

18th February 2025

They have been spot on every time. Had an issue recently and was sorted perfectly. Great rates. in my bank asap.

Barry Orton
Verified

Simply the best

18th February 2025

Have used Currency direct for many years and have always been impressed with their xchange rates and professional service. Would and always have recommended them.

Marie Smith

Fast and efficient

18th February 2025

Personal account good transition and quick been with the company for some time and very safe.

Vinod Pathak–

Excellent swift service.

18th February 2025

I have a private ckient account and fully satisfied of CD swift and excellent service.

Loredana Morrison

Good service

18th February 2025

I used currencies direct to send money to my family abroad

Easy to use

N whinnery

First class company.

18th February 2025

First class company, always do their to secure you best exchange rates. Feel very secure. Moving money swift and simple. 10/10

AustinCaulfield

Algarve convent rental

18th February 2025

The idea of using a currency company to pay to rent a holiday apartment was, at my senior age, totally out of my comfort zone!

But contact from the Currencies Direct office in Tavira, Portugal, and subsequent help from Lisbon and London advisors, gave me the confidence to embark on a journey to set up a local currency account for the first time, and securely make a first payment. The process was far simpler than I expected, at good rates, and will therefore be used again and again for our holidays in future years.

Michael Peters
Verified

Best for great money transfers!

18th February 2025

Been with currencies direct for quite some years now! It’s quick to use, excellent rates for money transfers to New Zealand, and I feel it’s safe and secure!!

Green

Peace of mind

18th February 2025

I’ve been using them for 10yrs and their service and professional ism is second to none. Highly recommend without hesitation.

Sharon Barrett

Currencies Direct – Speedy Service

18th February 2025

I have transferred money using Currencies Direct on a couple of occasions and was very happy with speed of the service. I will be using them in the future and know that my funds are in safe hands till in my own account.

Isobel
Verified

Great company, excellent service

18th February 2025

We have used Currencies Direct for the last 22 years for transferring euros to Spain. They have always been so easy to deal with and would recommend them to anyone.

Patricia Barker

Outstanding Currency Service

18th February 2025

I’ve been using Currencies Direct for around 15 years and they have never failed to impress me. Using them to send currency to my Spanish bank account is easy, straightforward & trouble free.

Mervyn Wharton

Always efficient, friendly and knowledgeable

18th February 2025

Debit card

Wendy Huddle

Foreign currency

18th February 2025

Been with currencies direct for 15 years exchanging sterling to euros on a monthly direct debit for 15 years. They have never let me down all the time I’ve been trading with them

John kalnins

Reliable and professional.

18th February 2025

I have been using Currencies Direct for over 20 years and would not consider changing. I have always had excellent, reliable service, great communication and can honestly recommend them.

Marie Holden

Euro transfers to Spain

18th February 2025

Been with Currencies direct for 15 months. Use them for all my sterling to euro transactions in Spain. Competitive rates, easy to use website. Always achieve next day transfer from UK to Spanish bank. Also provided me with a euro direct debit card which I regularly use in Spain. Excellent service.

Mark Partington

Excellent prompt and reliable

18th February 2025

I use Currencies Direct for easy quick transfers of money abroad when needed. It is easy to use the website and no fees incurred. Always reliable and quick.

Eileen Humphrey

Market leaders

18th February 2025

Regular updates ; excellent exchange rates ; very helpful staff if one has a query .

Adrian Redgrave

Excellent service

18th February 2025

Fast efficient service for amounts bíg or small with personal support throughout

Keith Godfrey

Excellent service easy to communicate and very good rates

18th February 2025

Service is excellent and good communication. Their rate and transfer very good. Excellent app easy to Navigate to transfer the money. Excellent online security.

Mahendra Patel

Excellent service

18th February 2025

Account for sending payment overseas for holidays. Excellent personal service often involving solving complex transfer problems.

John R Fennell
Verified

Most helpful

18th February 2025

Good service

Good rates

Good speed

What is not to like.

Lena Ljungqvist

Simple and Cost effective

18th February 2025

I have both a business account and a private account with Debit card. Its al;l so easy and the rates offered arefar suprior to the banks and to date the card has worked seamlessly.

On the business acoount payment of invoices are usually fully processed inside 15 minutes and the website has never cauysed a ny issues

John Edwin Bird

Excellent service

18th February 2025

Excellent service at a very competitive price

Bela Kovacs
Verified

FAST EFFICIENT SERVICE

18th February 2025

The best rates, super-efficient easy website, rapid transfer of cash and very prompt attention to any query I may have. I wouldn’t choose anyone else!

Anthony Gabbitas

Telephone customer service quick and efficient

18th February 2025

I use them regularly to pay bills in France or to put money in my French account, their rates are very comparable with most other providers and transactions very quick.

Always willing to help when I get stuck on the website, as I’m an older customer!

Jane Allsop
Verified

First class service

18th February 2025

I wanted to transfer money regularly from England to Spain at competitive rates and no fees. Currencies Direct make it so easy. The website is simple to follow, the rate alerts are great and I was most impressed to receive a call from them when I first signed up, explaining everything. When I made an error with one of my first transfers they were extremely helpful and understanding. I have no hesitation in recommending them.

Patricia Gabbitas

Amazing to deal with

18th February 2025

Been dealing with our currency transfers for years, with no issues whatsoever. Good rates, helpful staff. Currency Direct can’t be beaten.

Bob Stephen
Verified

Continued wonderful service

18th February 2025

I have a private account and have been trading with Currencies Direct for over five years. They have continuously given excellent service with very good rates of exchange. I have often compared them with other Companies and each time they have offered a better rate

Terence Armstrong
Verified

Always helpful

18th February 2025

I’ve been with Currencies Direct for over 20 yrs and have always been pleased with the service they provide. My money is transferred each month to my Spanish bank account with no problem. Last year I had the need to visit a Currencies Direct branch and once again I was treated professionally and all my questions answered.

Paul Coombes

Excellent service

18th February 2025

I have a personal account because I have family abroad. It is very easy to send them money whenever I need to.

Christine Davie

Excellent and fast service

18th February 2025

The service has been excellent and very fast, whilst the currency rates are very competitive.

Thomas James Sheckleston

A Stich in Time

18th February 2025

Sending Euros to my son who was dismissed from a senior post with the United Nations under a trumped up charge by the Director in charge of the UN Agency who took revenge for three Staff Association members who

informed the authorities of his illegal activity.

With a black mark on his record from the UN which had been his one and only job he was unable to obtain further

employment even though he has a Masters Degree from Bath Uni in Modern Languages.

David George Steele

Professional, clear, not patronising

18th February 2025

I have often used Currencies Direct to transfer money for International payments and every transaction has been smooth, but the reason for 5 stars is their customer service. Whenever I’ve called I’ve been able to quickly speak to the same person handling my account, who explains things clearly but not patronisingly and who has never rushed me through the process. Professional and friendly, a great combination.

JW
Verified

Fantastic Service / Fantastic Rates

18th February 2025

As with most people we contacted various brokers.

Currencies Direct took the time to talk us through the process of setting up the account, explained all the security features and made us feel at ease with the company and the processes.

Our account manager (Hello Priscilla!) Has always been available when we have needed to talk and could not be more helpful.

They answer calls. They answer emails very quickly.

The rates are some of the best around having compared them to other currency brokers. You have time to complete the deal so you never feel under any time pressure.

We also have the multi currency debit card . This is a fantastic option. Like a prepaid card you load your currency onto it at fantastic rates then use it as a normal card.

The app on the phone is responsive, very simple to use and as well as using it like a traditional debit card you can also use it to set up one time or regular bank transfers (we paid our builders like that)

From my personal experience I could not recommend the staff, the rates and the whole package any higher that I am.

George Fontanini
Verified

Fast transfers and competitive fees

18th February 2025

I’ve made quite a few transfers with Currencies Direct and always found them very efficiency and competitive, especially when transferring larger amounts.

Ange
Verified

Trustworthy, quick transfers and fair exchange rates

18th February 2025

I have a personal account with Currencies Direct and they have always been very professional, courteous and helpful when dealing with them on the phone. The website has been easy to navigate after they kindly helped me the first time I transferred money. Monies have always arrived promptly to destination. Lastly and importantly, their exchange rates seem fair. Thank you Currencies Direct. I appreciate your service.

Catherine Prendergast
Verified

Helpful,easy to use reliable

18th February 2025

On all transaction I have done all went well, easy to use website and if you do have a problem the team get straight back to you with assistance, would recommend to any one wanting to transfer money

Gary Corbin
Verified

Currencies Direct is safe, reliable and a company to trust.

18th February 2025

I have a personal transfer account with ” Currencies Direct ” The staff and company are friendly and very professional. All my money transfer transactions are done safely and promptly.

Kenneth Houlton

Currency Direct

18th February 2025

I have a personal account for transferring money abroad. This ensures quick access and turnaround time with great rates

Margaret Bradley
Verified

Continual financial support

18th February 2025

We have been a French second home owner now for 15 years and utilised Currencies Direct over the initial payments to the notaire and subsequent transfers to our French back account. We have never had any issues with transfers and they are prompt and well communicated and the rates are as good as any on the market, so no need to shop around. We will continue to used them as long as they keep up their current standards and we have a property a road.

David Bonelle
Verified

Currencies Direct is safe and trustworthy — Professional, friendly and a reliable company.

18th February 2025

I have a personal account with ” Currencies Direct “. The staff and company authorities handle my money transfer safely and promptly. And I am not charged for the service but given an excellent exchange currency rate.

Kenneth Houlton

Confident transfers

18th February 2025

I am a relatively amateur currency transfer user . Using this service to transfer funds to my sons abroad has always been secure and seamless. Highly recommend

Paul

Currencies Direct good experience

18th February 2025

I like the ease of transfer and the safety aspect. Their web site is easy to use.

Mike Reed
Verified

EFFICIENT

18th February 2025

I have used Currency Direct a few times now and on every occasion i have found them to be so very helpful, very professional and friendly. My transfers have been very easy and my dealings with my Fund Manager have been excellent.

Thank you Currency Direct

Roger Iredale

Ace services

18th February 2025

Currencies direct have provided me with excellent service for 15 years. They have always been professional, precise and reliable. Top class staff with a helpful and meaningful attitude. Without doubt, to be recommended.

Malcolm Hamer

The best in the business.

18th February 2025

A current account holder. Great advice continuously when to convert euros to sterling. The app is very easy to use, which makes life extremely uncomplicated.

William Molyneaux

Currencies Direct

18th February 2025

I did a transaction to Australia via CD. Unfortunately it was returned due to an error from within the bank in Australia. CD helped me understand what the problem was through the efficient CD customer service. I then resent the monies successfully. Many thanks and will definitely use you again.

Guy Saunders
Verified

Excellent company

18th February 2025

I have both euro account and sterling. They are excellent in keeping me well informed about the rates. Very helpful over the telephone. I have not had any problems with them.

Mrs boakes
Verified

Excellent

18th February 2025

I’ve been using currencies direct for a number of years now. Fantastic service and an easy app.

Edward Lilley
Verified

Currency transfers

18th February 2025

We have used Currencies Direct a good number of years and found to provide very good service along with good value transfers. They are really easy to use and contact.

Robin Taylor

Excellent service

18th February 2025

Have been using since last June. Excellent service easy to operate. Would highly recommend

Paula Pearl
Verified

Excellent Service

18th February 2025

I have found the service received over the past few years from Currencies Direct in particular Ewan to be extremely helpful and also by providing me with the information required at putting my mind at rest. Extremely efficient transactions is my experience.

M McNicol

VERY BEST AND EXCELLENT CURRENCY TRANSFER SERVICES

18th February 2025

I have a personal account with the Currencies Direct which enables me to transfer British Pounds into Indian Rupees. The transfer services are so good that I am also considering transferring money to my close relatives in Australia. I have my full faith in the Currencies Direct and will always use them to transfer money from the United Kingdom to my relatives overseas when needed.

Vinod Chander Sharma

Currencies Direct OK

18th February 2025

Currencies Direct make transferring money to my son in Australia easy.

The exchange rates are good. They are efficient. They don’t charge for the transfer.

Alan Wood

Competitive rates with the personal touch.

18th February 2025

I use Currencies Direct for all my fx transfers and have found them to always offer excellent service. Most of my transactions are made through the app but when needed they are easy to talk with and have always managed to resolve queries quickly. The one or two problems caused by me were resolved quickly and efficiently. The wallet system works well especially if you want to take advantage of a competitive rate but don’t want to transfer all at once. When I have challenged a rate as long as I could show what a competitor was quoting, screen shot from phone, they have matched the rate. In this day and age when it is increasingly difficult to talk with a real person they get my vote everyday.

James Shaw

CURRENCIES DIRECT

18th February 2025

I have used Currencies Direct every month for the last 9 years to transfer money to Spain. They provide excellent regular information and service.

JUDITH WHITE
Verified

Excellent service and friendly staff

18th February 2025

I have had an account for several years since buy and selling property in Spain,the service has always been excellent and the staff very helpful with any and all requests

David Thomson
Verified

Efficient

18th February 2025

I have used currencies direct 10-12 times in the last 2 years, their service is outstanding

Stuart Whitehead
Verified

Transfers

18th February 2025

1st class company free and quick transfers with up to the minute top currency rates, Always use the Currency app straight forward and easy to use.

Rosamond Ridehalgh

So useful, efficient and simple to use!

18th February 2025

I spend a lot of time abroad and have been using Currencies Direct to transfer my money for ten years or more now. They always have a competitive rate and the app is intuitive to use. Over the years the transfer time has become faster and faster and if there ever are any delays, it’s always down to the Spanish banking system who seem only able to withdraw from bank accounts at the weekend and not put money into them. These days, if I do my transfer in the morning, it’s in the bank the same day…….and Spanish banks close at 14.30. On the rare occasions I have had to telephone for help (once in the last five years) the staff have been knowledgeable, keen to help and very efficient. I, for one, wouldn’t use anyone else.

Lesley Davison

Excellent Customer Service and Systems

18th February 2025

Currencies Direct have a great team of people who are approachable ,easy to contact and very knowledgeable ,Jade was really helpful in my transfers last year ,setting up the transfers was thorough,efficient and secure .

Richard Francis Grills
Verified

Great customer service

18th February 2025

Currencies Direct provide a consistently good service, they’re always very competitive, they answer the phone (!) and their staff are professional and friendly.

Philip Spani
Verified

Personalised service which is tailor made to your needs.

18th February 2025

My husband and I each have a private currency exchange account with Currencies Direct. Every transaction has been an extremely seamless and stressless process and the funds we send are with the recipient even before the expected time frame which puts a smile on my face every time. Their customer service is wonderful and even when I was introducing (to Currencies Direct) the partner of a friend living in another country, they went out of their way to phone the individual to personally assist in the funds transfer at a previously discussed time and day – where else would you get this level of professionalism and true assistance?

Alison Specht
Verified

Couldn’t be better

18th February 2025

Currency direct have been an absolute diamond over the past years I have used them, never any problem doing transactions from uk to Spanish account.

Pamela Edward’s
Verified

Easy to deal with

18th February 2025

I use CC for buying currency both per phone and online and both work very well. Per phone very much a personalised service.

John Dobby

The best!

18th February 2025

Currency card & joint account. Excellent service from their offices & Customer Service always immediate response & clear support. Their website is very user friendly & you can see exactly the latest position of all your money in many different currencies.

Keith Barthorpe

Brilliant!

18th February 2025

Well done, Currencies Direct, for an easy to use and very secure currency transfer service.

Diana Smith

Simple currency conversion at competitive rates

18th February 2025

Currencies Direct has been a wonderful companion. Changing currency has been straightforward and the rates offered are consistently very good and generally much better than the competition

Chris Huffer

Long time customer

18th February 2025

I have used Currencies Direct for money transfers since moving to Spain in 2004. Service always excellent and has always given me an impression of care and efficiency. I would recommend to anyone using regular transfers.

Janet Neale

Currencies Direct Expert Review

Currencies Direct offers great exchange rates and personal service
Good Money Guide Recommended 2025

Provider: Currencies Direct

Verdict: 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. 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 a good currency broker?

Yes, in our 2024 and 2023 awards Currencies, Direct won “best currency broker”. They scored very highly in our customer survey, with very high scores in customer satisfaction and pricing.  Currencies Direct is also a well-established provider founded in 1996 and has 22 offices around the world.

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.

If you need to send a large amount of money abroad Currencies Direct can give you advice on the timing of a transfer and also get you bank beating exchange rates.

I’ve been dealing with currency brokers for nearly two decades now. Initially, when I was a prime broker doing currency conversions for institutions, but also as a currency broker myself doing conversions for people buying holiday homes. In this Currencies Direct review I give our ratings based on their nearest peers, and tell you what we think of them after testing them thoroughly. Plus highlight the key costs, facts and figures of their accounts.

A friend recently sent me a WhatsApp asking me what I thought of Currencies Direct. He even included a link to our old review, so clearly, it’s time for an updated version.

Instead of long-winded musings on the currency transfer industry or AI generated SEO (or SEM, search engine manipulation as I like to call it), I thought I’d do this review as a series of FAQs about Currencies Direct to provide short and relevant answers to potential questions people who are considering using them may ask. Why you ask? Well, I’ve been in the currency markets for about 20 years, as both a wholesale currency prime broker and a private client currency broker and these are the questions that people generally asked…

This is pretty much how our conversion went when we discussed Currencies Direct over coffee later that afternoon.

What does Currencies Direct do?

It helps you transfer large amounts of money from one currency and country to another.

What about small amounts of money, is it only for large transfers?

You can send small amounts of money, but to be honest, Currencies Direct is more for larger foreign exchange transactions. A typical customer may be someone buying a holiday home with a couple of large currency transfers for the purchase and then a few recurring smaller transfers afterwards for bills etc.

But can I still send smaller amounts?

Yes, but if you are only sending smaller amounts, you are better off with a money transfer app.

Why is it better for large amounts then?

When you send large amounts of money abroad, you need to think about two things. What the exchange rate will be, and when to send it. Currencies Direct will give you better exchange rates than a bank, and you get more control over when you do the conversion.

How?

You get better exchange rates because the “spread” or “mark up” Currencies Direct charge is better than the banks. Sometimes by about 4%.

Huh?

If you send £100,000 with your bank, the exchange rate markup can be up to 4% so it will cost you about £4,000 in fees. With Currencies Direct, it should be around £250.

My bank told me there were no fees for sending money abroad.

Well yes, there are no fees charged to you as commission, but they are included in the spread.

Do Currencies Direct charge a fee?

They don’t charge additional fees. They make their money on the exchange rate spread.

What’s the spread?

The spread is the difference between where a currency broker buys the currency and where you buy the currency.

So they mark my price up rather than charge fees?

Yes, take a look at our guide on how to compare exchange rates and come back?

Ok, fine, I’m up to date. But how do I know they are going to give me the best exchange rate?

Just ask them – say verbatim “how far as a percentage will my price be from the mid-market?”. They should give you an answer as a percentage. The more money you want to transfer the lower the percentage will be.

Whatever they come back with, ask for less – remember everything is negotiable.

If they can’t give you a straight answer, just look for another currency broker that can.

No, I mean, how do I know this is the best time to convert money at the current exchange rate?

You don’t, nobody knows where exchange rates will be in the future.

What about currency forecasts and predictions?

They have educated guesses at best. When it comes to foreign exchange it’s very easy to protect yourself from losing money, but very difficult to make money from trying to predict exchange rates.

Ok, fine, but I’m buying a villa in Spain at the moment and I need to pay for it in 6 months and I think now is a good time to buy Euros. Can they help me lock in the currency exchange rate?

Yes, that’s very good question and bravo for thinking of hedging your upcoming currency exposure?

What?

Sorry, yes you can buy Euros now with a currency forward contract. You can lock in the current Euro exchange rate for up to 12 months with Currencies Direct.

Great – but, there is a bit of a snag, I am selling a UK property that won’t complete for a couple of month so can’t afford all the Euros just yet.

That’s fine, when you use a currency forward you only need to put down a small deposit on the full amount you buy. Usually around 10%.

But is my money safe with Currencies Direct?

Yes, Currencies Direct are authorised by the FCA, so they have to keep client funds separate from their money. These accounts are segregated and the money is protected if they or their bankers go bust. But unlike banks and investment accounts there is no FSCS protection.

Is it a big company then?

Yes, Currencies Direct was founded in 1996, they have over 500 employees, and processed about 550,000 payments last year, totalling £10bn. Blackstone also invested £150m in Currencies Direct.

What’s Blackstone?

They are a massive private equity firm that invests in all sorts of things, they have about $10 trillion of investments.

Ok, fine. But how does Currencies Direct work?

You open an account here by requesting a quote through their website or registering online. Then they will assign someone to look after your account who will help you with the transfer.

Do I have to transfer money over the phone or can I do it online?

You can do up to £25k online, but, one of the main benefits of using a currency broker like Currencies Direct is that you get someone to actually talk to. Most people find this helpful when transferring large amounts of money abroad.

Thanks,

Pleasure.

You may also enjoy our interview with the CEO of Currencies Direct, Marc Morley-Freer.

Pros

  • 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

Cons

  • Better for large transfers
  • Pricing
    (4.5)
  • Market Access
    (4.5)
  • Online Platform
    (4)
  • Customer Service
    (5)
  • Research & Analysis
    (5)
Overall
4.6

Currencies Direct Facts & Figures

💱 Total Currencies40+ on offer
💵 Min Transfer£100
💰 Max TransferNo maximum transfer
🛒 Customers430,000
🏛️ Founded1996
💬 LanguagesEnglish, French, German + others
💱 Transfers£10 billion a year
🏢 HQLondon, UK
⚖️ RegulatedYes – Authorised by FCA
📅 Currency Forwards12 months
💹 Currency Options✔️ (Corporate customers only)
🤝 Personal ServiceYes- highly rated
⭐ TrustPilot Rating4.9 / 5
🌐 WebsiteVisit Currencies Direct

Currencies Direct News

Best Currency Broker - Good Money Guide Awards Winners 2024

Currencies Direct wins best currency broker at the 2024 Good Money Guide Awards

Currencies Direct won Best Currency Broker at the Good Money Guide Awards this year due to their excellent reviews on our site and survey feedback. They provide bank-beating exchange rates and personalized advice, which is especially valuable for large international transfers. Additionally, they offer currency forwards, allowing clients to lock in current exchange rates. Richard

Read More »

Can the Currencies Direct currency card save you money on holiday?

Currencies Direct, also offer clients a multi-currency debit card with no monthly fees which can be used seamlessly to make payments and pay for purchases when travelling abroad, whether for leisure or business purposes. The card is now useable in 19 different currencies, including 9 new popular currencies to an existing roster of 10 widely

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Large currency transfer guide

Currencies Direct gets a £140 Million Blackstone boost

Currencies Direct the online currency broker and money transfer app based in London’s Canary Wharf has received a substantial vote of confidence from one of the world’s largest Private Equity investors. Blackstone invests £140m in Currencies Direct Currencies Direct will receive a capital injection of £140.00 million from funds that are managed by Blackstone, the

Read More »

Currencies Direct FAQ:

If you need to transfer a large amount of money abroad Currencies Direct works like this:

  1. Request a quote for the transfer
  2. Open an account via the online application form
  3. Do the conversion online or over the phone
  4. Transfer your money to Currencies Direct
  5. Currencies Direct will send your converted foreign currency abroad

The key benefit of using Currencies Direct though is their personal service. That’s how most clients make Currencies Direct work for them. But doing it the old-fashioned way of talking to experts and getting insightful advice. Then combining this with technology and discounted exchange rates.

In theory you can transfer as much as you like. The only limitation is on how much liquidity is in the market for the FX conversion you want to do. For most currency pairs this is in the tens of millions so for individuals you should always be able to send as much as you like.

Currencies Direct do not charge fees on top of the exchange rate. They make their money by marking up the exchange rate from the mid-market (which is their fee).

Further reading: How to compare exchange rates.

No. Currencies Direct is a currency broker. When you send money to Currencies Direct they will aim to send it on to a beneficiary as soon as possible.

Yes, Currencies Direct are legit. They are is authorised by the FCA as an Electronic Money Institution. You can see their entry on the FCA register here (this explains the scope of their regulation). They are in fact one of the best international money transfer companies becusae they do not charge a fee when you exchange currency and send it abroad (their make their money in the exchange rate spread, so you do have to pay for their services this way).

Currencies Direct are also headquartered in London, with offices all around the world, with around 430,000 customers, who can transfer money abroad same-day. Currencies Direct is part of the same group invested in by Blackstone that owns TorFX (even though they are a competitor like OFX & Key Currency).

Currencies Direct is one of three foreign exchange brands owned by Redpin, the holding company aimed to reducing currency costs for international property purchases.

Currencies Direct makes money by marking up exchange rates. When you buy or sell currency through Currencies Direct, they will buy or sell it at cheaper rates from the bank. For example, if the interbank GBPEUR rate is: 1.1678/1.1680 (2 pips). Currencies Direct may quote you 1.1619/1.1738. This would be equivalent to Currencies Direct charging you 0.5% in commission.

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