Currencies Direct Customer Reviews
Excellent Service
Always helpful website easy to use and not provides card services
Always looking to improve their services
Excellent Service
Always helpful website easy to use and not provides card services
Always looking to improve their services
Bad Service no Experience
There is Danny which he doesn’t know anything.
He is zero
Calculating and dishonest
Currencies Direct are very nice and helpful when they are taking your money, but when it comes time to transfer it , they will put every possible obstacle in your way in order not to send you your money. They are shamless.
They don’t always follow your instructions
Avoid Currencies Direct if your businesses intend to make multiple international payments over several days because they will use the funds that you specifically sent for a specific international recipient’s payment to make the payment to another recipient.
For example: you booked a FX payment to recipient A on a Monday, you send the funding to Currencies Direct and the GBP funding arrives in your Currencies Direct wallet on the Wednesday. You then book another FX payment of a different value to a different recipient D on the Tuesday and send the funds for that payment to arrive on the Friday.
If the GBP value of recipient D’s payment is less than that of recipient A, Currencies Direct tends to use the GBP funds for recipient A’s payment to send the payment to recipient D. This means that recipient A’s payment ends being sent 2 days late. This happens even when you communicate to Currencies Direct that the funds received on Wednesday is for recipient A’s payment. They simply ignore you expressed instructions.
How can you trust an organisation that don’t following your instructions with regards to recipient’s payments?
Very reliable
Very reliable
Good but poor rates
Good but poor rates
quite helpful
quite helpful
Very good
Very good
Excellent
Excellent
Competitive rates
Competitive rates
I Steven Talewa of Tari…
I Steven Talewa of Tari Hela Province of Papua New Guinea is now full support on this one for the year
fine
fine
Easy to use
Easy to use
Efficient and good exchange rates
Efficient and good exchange rates
Good
Good
Efficient and good value
Efficient and good value
Does the job
Does the job
Suit my purposes
Suit my purposes
Excellent
Excellent
I Steven Talewa is my…
I Steven Talewa is my first time to receive my blessings and benefits now and for my future blessings I think that will be easy to receive my blessings through this..
Good alternative
Good alternative
not used for a long…
not used for a long time
Very easy to operate.
Very easy to operate.
5/5
Great service, hassle free
Great service, hassle free
Amazing service-prompt and easy to…
Amazing service-prompt and easy to access both on line and by phone. Very helpful
I have been a client…
I have been a client for over 11 years and I recommend them to everyone. Their service is excellent and their on line system easy to use. When making large transfers then there is a dealer to talk to and local agents to assist, giving me security and confidence
They are professional, courteous, very…
They are professional, courteous, very helpful and quick transfer
Good service
Good service
Decent platform and customer service…
Decent platform and customer service but rates are not the best
3/5
Poor exchange rates
Poor exchange rates
No thanks
No thanks
Never really use them since…
Never really use them since I discovered TorFX
Very good to deal with
Very good to deal with
Excellent
Excellent
OK
OK
Fantastic super easy
Fantastic super easy
Good
Good
Send currency quickly
Send currency quickly
Best in class
Best in class
All ok, but get a…
All ok, but get a better exchange rate, with torFX
I think they are very…
I think they are very good
5/5
Good service.
Good service.
5/5
Highly recommend
Highly recommend
Ok
Ok
Exchange rates offered got worse…
Exchange rates offered got worse over time
Have account but hardly used…
Have account but hardly used as TorFX rates are usually better
Used once but service was…
Used once but service was good
Very professional & excellent staff…
Very professional & excellent staff prompt communication
Offer a very efficient and…
Offer a very efficient and timely currency exchange procedure – far exceeding the standard process and procedures of any High Street Banks.of
Excellent
Excellent
easy to use app, followed…
easy to use app, followed up with a swift transfer
Exceptional response from staff. Knowledgeable,…
Exceptional response from staff. Knowledgeable, courteous & non judgemental regardless of how much money you transfer
Good service but exchange rates…
Good service but exchange rates not as good as others
Efficient, supportive, good value, good…
Efficient, supportive, good value, good communication
Fast and efficient service
Fast and efficient service
Trust and confidence with the…
Trust and confidence with the service.
Always helpful when I phone…
Always helpful when I phone them and good rates
I had great experience using…
I had great experience using this provider to transfer money abroad for last few years
Efficient and worry free
Efficient and worry free
Easy to use and very…
Easy to use and very helpful when needed
Very professional and great service
Very professional and great service
I was very helpful and…
I was very helpful and very formative
Consistently best rates
Consistently best rates
Efficient and excellent value
Efficient and excellent value
Personalised customer support and a…
Personalised customer support and a local overseas office with such friendly knowledgeable staff sets them apart from their competitors. If I find a cheaper rate elsewhere I call them and they can usually match it. Their transfer service is fast and safe. Tried other companies but keep going back to currencies direct. Superb service.
Trustworthy, honest, quick transfers with…
Trustworthy, honest, quick transfers with no hidden fees, superb service, customer service and overseas offices stand them out from their competitors. They match exchange rates of other companies and their staff are so helpful, knowledgeable and do not hard sell.
My account guy, Kieran Challingsworth,…
My account guy, Kieran Challingsworth, always gets back to me within minutes of my inquiry no matter how trivial my questions might be. CD always gives very quick service.
Very good advice and easy…
Very good advice and easy transaction process,
Staff are helpful and polite
Staff are helpful and polite
Excellent customer service.Contactble abd available…
Excellent customer service.Contactble abd available for advice
When needing assistance, they gave…
When needing assistance, they gave me advice, on how to do it.
Very efficient
Very efficient
good
good
Good provider and straightforward to…
Good provider and straightforward to use to make currency transfers.
Very efficient and (when in…
Very efficient and (when in Spain) friendly, personal service.
Simple, good rates and efficient…
Simple, good rates and efficient
Currencies Direct are a customer…
Currencies Direct are a customer focused business who are extremely helpful, supportive and extremely efficient. They are very helpful with providing assistance ssist
efficient and trouble-free
efficient and trouble-free
Excellent, best rates
Excellent, best rates
easy to use APP, great…
easy to use APP, great customer support
Always helpful, and keep us…
Always helpful, and keep us updated regularly.
Transfers are actioned shortly after…
Transfers are actioned shortly after being requested. Checking exchange rate is simple in the app.
Always feel secure when transferring…
Always feel secure when transferring money via this company
Excellent, reliable service at very…
Excellent, reliable service at very good rates
Excellent customer service, great rates…
Excellent customer service, great rates and very easy to use online
Works effectively and efficiently with…
Works effectively and efficiently with a good rate. Been invaluable since Brexit.
Very good rate and very…
Very good rate and very fast transfer
Very competitive exchange rates
Very competitive exchange rates
Used for property funds transfer…
Used for property funds transfer plus currency: excellent.
Always quick and efficient
Always quick and efficient
excellent service from being a…
excellent service from being a newcomer and having a direct contact to deal with who was very experienced and helpful to now using the app which is easy to use for regular transfers.
Very efficient and good value
Very efficient and good value
Very efficient service, safe and…
Very efficient service, safe and secure with good rates of exchange
Easy to use, very competitive…
Easy to use, very competitive rates fast delivery and great optional benefits
Excellent
Excellent
Love the email rate alerts,…
Love the email rate alerts, always quick and thorough
Efficient-easily contacted- quick results-excellent service
Efficient-easily contacted- quick results-excellent service
Great customer service, can speak…
Great customer service, can speak with an individual to resolve problems and competitive price.
4/5
Excellent and efficient service always.
Excellent and efficient service always.
Very competitive and online dealing…
Very competitive and online dealing is very simple
Very helpful. Good telephone…
Very helpful. Good telephone support
Very easy to use their…
Very easy to use their App and transfers very promt
Very efficient
Very efficient
I put in sterling and…
I put in sterling and swap to Euros which I find easy when vacationing.
Except company, already told two…
Except company, already told two friends to utilise your services.several conversations with Harley Gerrard. And with your agent at her office in Albir Spain, first class service and assistance. Really Helpful. Currencies Direct. 10/ 10
Good exchange rate,fast transfer,great customer…
Good exchange rate,fast transfer,great customer service
Good services easy to understand…
Good services easy to understand for a novice
x
x
Incredible experience and service.
Incredible experience and service.
Great rates. Easy website. First…
Great rates. Easy website. First class customer service.
Transparent and reasonable exchange rates
Transparent and reasonable exchange rates
Ease of use , very…
Ease of use , very competitive rates, quick response, very good customer support
Could not fault them in…
Could not fault them in any way
Consistently good service
Consistently good service
Excellent help to set my…
Excellent help to set my account up and sorting out the transfer of money from Aus to UK which I found overwhelming before
Always been very informative throughout…
Always been very informative throughout the time we have been using them
Excellent
Excellent
Excellent service
Excellent service
Brilliant service , great…
Brilliant service , great staff and very efficient
Currencies Direct have handled my…
Currencies Direct have handled my infrequent money transfers efficiently over many years
Found them very helpful and…
Found them very helpful and advice in my dealings with them
Excellent service. Very professional…
Excellent service. Very professional team
Easy to deal with
Easy to deal with
They are an excellent company…
They are an excellent company to transfer money
From day 1 these people…
From day 1 these people have been very helpful and explained everything in my steps to opening my account to transferring money to a different country I could not fault the help I was given I had a senior adviser that phoned me and help with everything then I have an advisor in Spain
good but do not have…
good but do not have instant (SEPA) facility
Good for transferring significant amounts
Good for transferring significant amounts
fine
fine
haven’t used them this year
haven’t used them this year
3/5
Pros:
Works well for basic currencies (euros, dollars etc)
Cons:
Do more currencies eg Mozambique
3/5
Pros:
london based
Cons:
make it easier to talk to people
5/5
Pros:
Ravt
4/5
Pros:
Ease of use
Cons:
No opinion
4/5
Pros:
quick, easy to use
Cons:
better rates for medium sized transfers
3/5
Pros:
I have no thoughts about them
Cons:
No thoughts
4/5
Pros:
Ease of use.
Cons:
no
5/5
Pros:
Ease of use
Cons:
N/a
4/5
3/5
5/5
Pros:
No charges
4/5
Pros:
International
Cons:
More flexible
2/5
Pros:
Nothing
Cons:
DonÔÇÖt know
4/5
Pros:
Save
Cons:
Ok
5/5
Pros:
Helpfulness and no harrasement
5/5
5/5
5/5
4/5
Pros:
Low fees
Cons:
Clearer instructions
4/5
Pros:
Easy to deal with
Cons:
Reduce margins
4/5
Pros:
Good rates
Cons:
Faster response
5/5
3/5
Cons:
Charge lower fees and give better forex rates
5/5
Pros:
quick
Cons:
not much
4/5
Pros:
–
Cons:
–
3/5
Pros:
None
4/5
Pros:
cheap
Cons:
cheap
3/5
Pros:
Na
Cons:
Ma
4/5
Pros:
Fairly easy for business.
Cons:
Nothing identified.
5/5
Pros:
Simplicity and low fee structure
Cons:
Speedier transfers
3/5
5/5
Pros:
Good
Cons:
Na
4/5
Pros:
Send money abroad
5/5
Pros:
Expert advice and service
Cons:
None
5/5
5/5
Pros:
the staff
Cons:
offer more currencies
5/5
Pros:
always professional
Cons:
dont know
5/5
Pros:
Service
Cons:
Nothing
5/5
Pros:
Friendly, helpful, caring
5/5
Pros:
Great customer service
Cons:
Do more
5/5
Pros:
Always helpful
5/5
Pros:
The accuracy and personal attention of the employees.
Cons:
Nothing that I feel
5/5
Pros:
Best rate
Cons:
Gives best rate for some currency pairs, can extend to more pairs
5/5
Pros:
Personal touch and can talk to a real person
5/5
Pros:
You can always reach them, they always sort your issue
Cons:
all good
5/5
Pros:
Staff and rates
5/5
Pros:
Customer support and immediate response for query
Cons:
All multiple currencies
5/5
Pros:
Customer Service
Cons:
They already do everything perfectly
5/5
5/5
Pros:
Their professionalism and customer service
5/5
Pros:
Offices locally and very good app, no transfer charges and no commission charges very transparent service
Cons:
Nothing
5/5
Pros:
Ease of use and information.
Cons:
Nothing
5/5
5/5
Pros:
excellent customer service
Cons:
nothing
5/5
5/5
Pros:
The best Fx Provider
Cons:
Nothing
5/5
5/5
Pros:
Fantastic client service
Cons:
Keep your good service going
5/5
Pros:
Quick and good service
Cons:
All first class0
5/5
Pros:
Excellent to deal
Cons:
Nothing really, keep up the good work.
5/5
Pros:
Very good rates and very Knowledgeble and helpful staff
Cons:
Nothing
5/5
Pros:
You can pop in to see someone in the office
Cons:
Open on Saturday morning
5/5
Pros:
Prompt
Cons:
Quick response
4/5
5/5
Pros:
keeping you informed about the state of all transactions automatic or direct transfer
Cons:
keep improving a already good website
Leave a review
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Currencies Direct Expert Review
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.
Currencies Direct Review
Name: Currencies Direct
Description: Currencies Direct is a specialist award-winning currency broker that can help you 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 a good currency broker?
Yes, 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.
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
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Pricing
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Market Access
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Online Platform
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Customer Service
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Research & Analysis
Overall
4.1What we think of Currencies Direct
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.
What next?
Currencies Direct Awards
Currencies Direct won “Best Currency Broker” in our 2023 awards.
Currencies Direct Facts & Figures
💱 Total Currencies | 40+ on offer |
💵 Min Transfer | £100 |
💰 Max Transfer | No maximum transfer |
🛒 Customers | 430,000 |
🏛️ Founded | 1996 |
💬 Languages | English, French, German + others |
💱 Transfers | £10 billion a year |
🏢 HQ | London, UK |
⚖️ Regulated | Yes – Authorised by FCA |
📅 Currency Forwards | 12 months |
💹 Currency Options | ✔️ (Corporate customers only) |
🤝 Personal Service | Yes- highly rated |
⭐ TrustPilot Rating | 4.9 / 5 |
🌐 Website | Visit Currencies Direct |
Currencies Direct Debit Card
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 used mediums of exchange.
The new currencies are as follows:
The Swiss franc, Czech crown, Hong Kong dollar, Israeli shekel, Japanese yen, Singapore dollar, Thai baht, New Zealand dollar and South African rand.
How can I get the new Currencies Direct multi-currency debit card?
To order a card potential customers simply need to download the Currencies Direct app, from either the Apple App Store or Google Play.
If they are already a Currencies Direct user, they can log in using their existing details. Or, if new to the platform they can register by providing their contact details and ID.
Once logged into the app, they simply need to tap “Card” in the app’s main navigation panel and follow the prompts from there.
New cards are normally dispatched within three to five working days.
What are the benefits of having a Currencies Direct multi-currency debit card?
The card is free to order and there are no monthly fees, it can be used in more than 200 countries, or wherever Mastercard is accepted.
Holders can withdraw cash from ATMs and benefit from competitive exchange rates. The card can also be used in conjunction with Apple and Google Pay.
The Currencies Direct app allows cardholders to track and control card spending, with instant notifications and the ability to freeze or unfreeze the card.
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
Currencies Direct Marc Morley-Freer on being how they help people transfer large amounts of money around the world for less
Still on the fence about transfering money with Currencies Direct? We wanted to find out a little bit more about what they offer larger currency transfer clients so spoke to Marc Morley-Freer, who is the Global Head of Personal Clients at Currencies Direct. We spoke about what they offer clients and what it’s like working
Currencies Direct FAQ:
If you need to transfer a large amount of money abroad Currencies Direct works like this:
- Request a quote for the transfer
- Open an account via the online application form
- Do the conversion online or over the phone
- Transfer your money to Currencies Direct
- 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.
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
Richard’s contributions and expertise have been recognized by respected publications such as BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.
You can contact Richard at richard@goodmoneyguide.com