Currencies Direct Review: A Straight Forward Way To Send Money Abroad

Home > Reviews > Currencies Direct Review
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.
Richard Berry
Richard Berry
Good Money Guide Founder

Currencies Direct Customer Reviews

4.8
4.8 out of 5 stars (based on 779 reviews)
Excellent85%
Very good8%
Average4%
Poor1%
Terrible2%

Excellent Service

10th October 2024

Always helpful website easy to use and not provides card services

Always looking to improve their services

Alan Dilley
Verified

Excellent Service

10th October 2024

Always helpful website easy to use and not provides card services

Always looking to improve their services

Alan Dilley
Verified

Bad Service no Experience

3rd October 2024

There is Danny which he doesn’t know anything.

He is zero

Gurmit Singh Bagga
Verified

Calculating and dishonest

19th August 2024

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.

Roshan Firouz
Verified

They don’t always follow your instructions

12th July 2024

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?

Yetunde
Verified

Very reliable

27th June 2024

Very reliable

Sanjay Shah

Good but poor rates

27th June 2024

Good but poor rates

Stephen William Lacy

quite helpful

26th June 2024

quite helpful

Brian Thistleton

Very good

26th June 2024

Very good

Alan Lines

Excellent

26th June 2024

Excellent

STEPHEN BURNS

Competitive rates

26th June 2024

Competitive rates

Denis Collins

I Steven Talewa of Tari…

18th June 2024

I Steven Talewa of Tari Hela Province of Papua New Guinea is now full support on this one for the year

Steven Talewa

fine

15th June 2024

fine

Glenn Carver

Easy to use

12th June 2024

Easy to use

neil morgan

Efficient and good exchange rates

12th June 2024

Efficient and good exchange rates

John Phillips

Good

12th June 2024

Good

Nicholas Dunne

Efficient and good value

12th June 2024

Efficient and good value

Francis Evans

Does the job

12th June 2024

Does the job

Timothy John Lowe

Suit my purposes

12th June 2024

Suit my purposes

Patrick Murphy

Excellent

10th June 2024

Excellent

Christopher Hardaker

I Steven Talewa is my…

9th June 2024

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..

Steven Talewa

Good alternative

8th June 2024

Good alternative

Kevin Francis Kettle

not used for a long…

4th June 2024

not used for a long time

Michael John Hopkinson

Very easy to operate.

4th June 2024

Very easy to operate.

Brian whitehouse

5/5

4th June 2024
Steven Talewa

Great service, hassle free

1st June 2024

Great service, hassle free

Carole Elizabeth Soanes

Amazing service-prompt and easy to…

31st May 2024

Amazing service-prompt and easy to access both on line and by phone. Very helpful

Alex Dawes

I have been a client…

31st May 2024

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

Allan Haggerty

They are professional, courteous, very…

31st May 2024

They are professional, courteous, very helpful and quick transfer

Reza Sacha Sadeghi Broujerdi

Good service

31st May 2024

Good service

Keith Willox

Decent platform and customer service…

30th May 2024

Decent platform and customer service but rates are not the best

Sally woodward

3/5

29th May 2024
Dennis culton

Poor exchange rates

29th May 2024

Poor exchange rates

Robert James Elkins

No thanks

29th May 2024

No thanks

Peter Keith Burden

Never really use them since…

29th May 2024

Never really use them since I discovered TorFX

Maria P Hansen

Very good to deal with

29th May 2024

Very good to deal with

Alice Scott

Excellent

29th May 2024

Excellent

J. V. McKean

OK

29th May 2024

OK

Gulam Sumar

Fantastic super easy

29th May 2024

Fantastic super easy

Samantha Murphy

Good

29th May 2024

Good

Christopher spencer Blockley

Send currency quickly

29th May 2024

Send currency quickly

Kathleen Travis

Best in class

29th May 2024

Best in class

Calum Harkiss

All ok, but get a…

29th May 2024

All ok, but get a better exchange rate, with torFX

Keith Richard Hughes

Affiliat3d to Torfx efficient

29th May 2024

Affiliat3d to Torfx efficient

Carol Fraser

I think they are very…

29th May 2024

I think they are very good

Juan José Martin-Cobas

5/5

29th May 2024
Rodney Wadham

Good service.

29th May 2024

Good service.

David Lyon

5/5

29th May 2024
Nikita Williams

Highly recommend

29th May 2024

Highly recommend

Nigel Fox

Ok

29th May 2024

Ok

Malcolm

Exchange rates offered got worse…

29th May 2024

Exchange rates offered got worse over time

John Hutchinson

Have account but hardly used…

29th May 2024

Have account but hardly used as TorFX rates are usually better

Arleen Marianna Levine

Used once but service was…

29th May 2024

Used once but service was good

John Ashton

Very professional & excellent staff…

28th May 2024

Very professional & excellent staff prompt communication

Arthur Joseph Barnett

Offer a very efficient and…

28th May 2024

Offer a very efficient and timely currency exchange procedure – far exceeding the standard process and procedures of any High Street Banks.of

Martin John Spalding

Excellent

28th May 2024

Excellent

Debi Connell

easy to use app, followed…

27th May 2024

easy to use app, followed up with a swift transfer

David Stringfellow

Exceptional response from staff. Knowledgeable,…

27th May 2024

Exceptional response from staff. Knowledgeable, courteous & non judgemental regardless of how much money you transfer

Ailsa Walker

Good service but exchange rates…

26th May 2024

Good service but exchange rates not as good as others

Alex Mendoza

Efficient, supportive, good value, good…

26th May 2024

Efficient, supportive, good value, good communication

Ms Sonja Cain

Fast and efficient service

26th May 2024

Fast and efficient service

deborah scott

Trust and confidence with the…

26th May 2024

Trust and confidence with the service.

Mary Gallagher

Always helpful when I phone…

26th May 2024

Always helpful when I phone them and good rates

CHARMAINE HAMMOND

I had great experience using…

26th May 2024

I had great experience using this provider to transfer money abroad for last few years

Afshan Siddiqui

Efficient and worry free

26th May 2024

Efficient and worry free

Neil Anthony Tett

Easy to use and very…

26th May 2024

Easy to use and very helpful when needed

Kay Lawrence

Very professional and great service

25th May 2024

Very professional and great service

Andrea Park

I was very helpful and…

25th May 2024

I was very helpful and very formative

Roy Tomprefa

Consistently best rates

25th May 2024

Consistently best rates

Mr Christopher Taylor

Efficient and excellent value

25th May 2024

Efficient and excellent value

Nicola Bennett

Personalised customer support and a…

25th May 2024

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.

Stephen Wall

Trustworthy, honest, quick transfers with…

25th May 2024

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.

Steve Wall MBE

My account guy, Kieran Challingsworth,…

25th May 2024

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.

Glenn Oliver Couvillon

Very good advice and easy…

25th May 2024

Very good advice and easy transaction process,

Lesley Mountain

Staff are helpful and polite

25th May 2024

Staff are helpful and polite

Joan Brooks

Excellent customer service.Contactble abd available…

25th May 2024

Excellent customer service.Contactble abd available for advice

Janwalmsleyprice

When needing assistance, they gave…

24th May 2024

When needing assistance, they gave me advice, on how to do it.

James Oskar Burton

Very efficient

24th May 2024

Very efficient

Antonakis Demetriou

good

24th May 2024

good

Mike O’Neill

Good provider and straightforward to…

24th May 2024

Good provider and straightforward to use to make currency transfers.

David Nigel Beaumont

Very efficient and (when in…

24th May 2024

Very efficient and (when in Spain) friendly, personal service.

Peter Simpson

Simple, good rates and efficient…

24th May 2024

Simple, good rates and efficient

Alan Thompson

Currencies Direct are a customer…

24th May 2024

Currencies Direct are a customer focused business who are extremely helpful, supportive and extremely efficient. They are very helpful with providing assistance ssist

Stephen Ryder

efficient and trouble-free

24th May 2024

efficient and trouble-free

Joseph Kendall-Gale

Excellent, best rates

24th May 2024

Excellent, best rates

Mark Partington

easy to use APP, great…

24th May 2024

easy to use APP, great customer support

David Bracken

Always helpful, and keep us…

24th May 2024

Always helpful, and keep us updated regularly.

Fiona Pounds

Transfers are actioned shortly after…

24th May 2024

Transfers are actioned shortly after being requested. Checking exchange rate is simple in the app.

Carne Webb

Always feel secure when transferring…

24th May 2024

Always feel secure when transferring money via this company

Ann Cooper

Excellent, reliable service at very…

24th May 2024

Excellent, reliable service at very good rates

David Edward Pryor

Excellent customer service, great rates…

24th May 2024

Excellent customer service, great rates and very easy to use online

JUDITH ANNE THORNEYCROFT

Works effectively and efficiently with…

24th May 2024

Works effectively and efficiently with a good rate. Been invaluable since Brexit.

Caroline Cain

Very good rate and very…

24th May 2024

Very good rate and very fast transfer

Vasil Gjoni

Very competitive exchange rates

24th May 2024

Very competitive exchange rates

Mark Broughton

Used for property funds transfer…

24th May 2024

Used for property funds transfer plus currency: excellent.

Ray Jones

Always quick and efficient

24th May 2024

Always quick and efficient

Lynn Smith

excellent service from being a…

24th May 2024

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.

Sally Anne Wright

Very efficient and good value

24th May 2024

Very efficient and good value

Stephen

Very efficient service, safe and…

24th May 2024

Very efficient service, safe and secure with good rates of exchange

David Wall

Easy to use, very competitive…

24th May 2024

Easy to use, very competitive rates fast delivery and great optional benefits

Martin goodgroves

Excellent

24th May 2024

Excellent

Barry Eastlake

Love the email rate alerts,…

24th May 2024

Love the email rate alerts, always quick and thorough

Dorte Bille Harding

Efficient-easily contacted- quick results-excellent service

24th May 2024

Efficient-easily contacted- quick results-excellent service

Steve winter

Great customer service, can speak…

24th May 2024

Great customer service, can speak with an individual to resolve problems and competitive price.

James Shaw

4/5

24th May 2024
Martin Miles

Excellent and efficient service always.

24th May 2024

Excellent and efficient service always.

Margaret Neal

Very competitive and online dealing…

24th May 2024

Very competitive and online dealing is very simple

RobertBessell

Very helpful. Good telephone…

24th May 2024

Very helpful. Good telephone support

Valerie Barker

Very easy to use their…

24th May 2024

Very easy to use their App and transfers very promt

PATRICIA CHRISTOU

Very efficient

24th May 2024

Very efficient

Val Hodgson

I put in sterling and…

24th May 2024

I put in sterling and swap to Euros which I find easy when vacationing.

Mark Long

Except company, already told two…

24th May 2024

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

AustinCaulfield

Good exchange rate,fast transfer,great customer…

24th May 2024

Good exchange rate,fast transfer,great customer service

Joanna Zgorzynska-Scott

Good services easy to understand…

24th May 2024

Good services easy to understand for a novice

John Chapple

x

24th May 2024

x

Robert Deriawish

Incredible experience and service.

24th May 2024

Incredible experience and service.

Kenneth Hugh Butler

Great rates. Easy website. First…

24th May 2024

Great rates. Easy website. First class customer service.

Patricia Mary Gabbitas

Transparent and reasonable exchange rates

24th May 2024

Transparent and reasonable exchange rates

Michael John durrant

Ease of use , very…

24th May 2024

Ease of use , very competitive rates, quick response, very good customer support

Karl Freund

Could not fault them in…

24th May 2024

Could not fault them in any way

John McKinlay

Consistently good service

24th May 2024

Consistently good service

Ryan King

Excellent help to set my…

24th May 2024

Excellent help to set my account up and sorting out the transfer of money from Aus to UK which I found overwhelming before

Terrie Lobina

Always been very informative throughout…

24th May 2024

Always been very informative throughout the time we have been using them

Gail wase

Excellent

24th May 2024

Excellent

Alan Parker

Excellent service

24th May 2024

Excellent service

John R Fennell

Brilliant service , great…

24th May 2024

Brilliant service , great staff and very efficient

Richard Grills

Currencies Direct have handled my…

24th May 2024

Currencies Direct have handled my infrequent money transfers efficiently over many years

Dennis Michael Noonan

Found them very helpful and…

24th May 2024

Found them very helpful and advice in my dealings with them

Linda Precious

Excellent service. Very professional…

24th May 2024

Excellent service. Very professional team

Elnasri ahmed

Easy to deal with

24th May 2024

Easy to deal with

STEWART CRAGG

They are an excellent company…

24th May 2024

They are an excellent company to transfer money

Hilary Jane Darke

From day 1 these people…

24th May 2024

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

Edward

good but do not have…

23rd May 2024

good but do not have instant (SEPA) facility

Ray Yates

Good for transferring significant amounts

23rd May 2024

Good for transferring significant amounts

John Allington

fine

22nd May 2024

fine

John Bradney

haven’t used them this year

22nd May 2024

haven’t used them this year

Simon Gatti

3/5

27th February 2023

Pros:

Works well for basic currencies (euros, dollars etc)

Cons:

Do more currencies eg Mozambique

GMG Awards Voter: [118254652740]

3/5

27th February 2023

Pros:

london based

Cons:

make it easier to talk to people

GMG Awards Voter: [118254093981]

5/5

26th February 2023

Pros:

Ravt

GMG Awards Voter: [118253458307]

4/5

24th February 2023

Pros:

Ease of use

Cons:

No opinion

GMG Awards Voter: [118252366191]

4/5

24th February 2023

Pros:

quick, easy to use

Cons:

better rates for medium sized transfers

GMG Awards Voter: [118252250556]

3/5

24th February 2023

Pros:

I have no thoughts about them

Cons:

No thoughts

GMG Awards Voter: [118252226149]

4/5

24th February 2023

Pros:

Ease of use.

Cons:

no

GMG Awards Voter: [118252215293]

5/5

24th February 2023

Pros:

Ease of use

Cons:

N/a

GMG Awards Voter: [118251971088]

4/5

24th February 2023
GMG Awards Voter: [118251942262]

3/5

24th February 2023
GMG Awards Voter: [118251916679]

5/5

24th February 2023

Pros:

No charges

GMG Awards Voter: [118251913390]

4/5

24th February 2023

Pros:

International

Cons:

More flexible

GMG Awards Voter: [118251909945]

2/5

24th February 2023

Pros:

Nothing

Cons:

DonÔÇÖt know

GMG Awards Voter: [118251871536]

4/5

22nd February 2023

Pros:

Save

Cons:

Ok

GMG Awards Voter: [118250541334]

5/5

22nd February 2023

Pros:

Helpfulness and no harrasement

GMG Awards Voter: [118249881274]

5/5

22nd February 2023
GMG Awards Voter: [118249767711]

5/5

18th February 2023
GMG Awards Voter: [118247313173]

5/5

16th February 2023
GMG Awards Voter: [118245487158]

4/5

15th February 2023

Pros:

Low fees

Cons:

Clearer instructions

GMG Awards Voter: [118245241418]

4/5

15th February 2023

Pros:

Easy to deal with

Cons:

Reduce margins

GMG Awards Voter: [118244940548]

4/5

15th February 2023

Pros:

Good rates

Cons:

Faster response

GMG Awards Voter: [118244915978]

5/5

15th February 2023
GMG Awards Voter: [118244880834]

3/5

15th February 2023

Cons:

Charge lower fees and give better forex rates

GMG Awards Voter: [118244815075]

5/5

15th February 2023

Pros:

quick

Cons:

not much

GMG Awards Voter: [118244624454]

4/5

15th February 2023

Pros:

Cons:

GMG Awards Voter: [118244601382]

3/5

15th February 2023

Pros:

None

GMG Awards Voter: [118244547117]

4/5

15th February 2023

Pros:

cheap

Cons:

cheap

GMG Awards Voter: [118244456203]

3/5

14th February 2023

Pros:

Na

Cons:

Ma

GMG Awards Voter: [118244219427]

4/5

14th February 2023

Pros:

Fairly easy for business.

Cons:

Nothing identified.

GMG Awards Voter: [118243742209]

5/5

13th February 2023

Pros:

Simplicity and low fee structure

Cons:

Speedier transfers

GMG Awards Voter: [118242693879]

3/5

11th February 2023
GMG Awards Voter: [118241786208]

5/5

10th February 2023

Pros:

Good

Cons:

Na

GMG Awards Voter: [118241310177]

4/5

9th February 2023

Pros:

Send money abroad

GMG Awards Voter: [118240370208]

5/5

28th January 2023

Pros:

Expert advice and service

Cons:

None

GMG Awards Voter: [118230821597]

5/5

27th January 2023
GMG Awards Voter: [118230321504]

5/5

27th January 2023

Pros:

the staff

Cons:

offer more currencies

GMG Awards Voter: [118230306970]

5/5

27th January 2023

Pros:

always professional

Cons:

dont know

GMG Awards Voter: [118230016314]

5/5

27th January 2023

Pros:

Service

Cons:

Nothing

GMG Awards Voter: [118229877885]

5/5

27th January 2023

Pros:

Friendly, helpful, caring

GMG Awards Voter: [118229662067]

5/5

27th January 2023

Pros:

Great customer service

Cons:

Do more

GMG Awards Voter: [118229462243]

5/5

26th January 2023

Pros:

Always helpful

GMG Awards Voter: [118229447214]

5/5

26th January 2023

Pros:

The accuracy and personal attention of the employees.

Cons:

Nothing that I feel

GMG Awards Voter: [118229436921]

5/5

26th January 2023

Pros:

Best rate

Cons:

Gives best rate for some currency pairs, can extend to more pairs

GMG Awards Voter: [118229397832]

5/5

26th January 2023

Pros:

Personal touch and can talk to a real person

GMG Awards Voter: [118229292826]

5/5

26th January 2023

Pros:

You can always reach them, they always sort your issue

Cons:

all good

GMG Awards Voter: [118229219541]

5/5

26th January 2023

Pros:

Staff and rates

GMG Awards Voter: [118229023876]

5/5

26th January 2023

Pros:

Customer support and immediate response for query

Cons:

All multiple currencies

GMG Awards Voter: [118228932948]

5/5

26th January 2023

Pros:

Customer Service

Cons:

They already do everything perfectly

GMG Awards Voter: [118228803366]

5/5

26th January 2023
GMG Awards Voter: [118228770804]

5/5

26th January 2023

Pros:

Their professionalism and customer service

GMG Awards Voter: [118228770418]

5/5

26th January 2023

Pros:

Offices locally and very good app, no transfer charges and no commission charges very transparent service

Cons:

Nothing

GMG Awards Voter: [118228715698]

5/5

25th January 2023

Pros:

Ease of use and information.

Cons:

Nothing

GMG Awards Voter: [118228316477]

5/5

25th January 2023
GMG Awards Voter: [118228263602]

5/5

25th January 2023

Pros:

excellent customer service

Cons:

nothing

GMG Awards Voter: [118228253693]

5/5

25th January 2023
GMG Awards Voter: [118228247386]

5/5

25th January 2023

Pros:

The best Fx Provider

Cons:

Nothing

GMG Awards Voter: [118228177232]

5/5

25th January 2023
GMG Awards Voter: [118228157446]

5/5

25th January 2023

Pros:

Fantastic client service

Cons:

Keep your good service going

GMG Awards Voter: [118228111137]

5/5

25th January 2023

Pros:

Quick and good service

Cons:

All first class0

GMG Awards Voter: [118228061278]

5/5

25th January 2023

Pros:

Excellent to deal

Cons:

Nothing really, keep up the good work.

GMG Awards Voter: [118228052724]

5/5

25th January 2023

Pros:

Very good rates and very Knowledgeble and helpful staff

Cons:

Nothing

GMG Awards Voter: [118228026320]

5/5

25th January 2023

Pros:

You can pop in to see someone in the office

Cons:

Open on Saturday morning

GMG Awards Voter: [118227995245]

5/5

16th January 2023

Pros:

Prompt

Cons:

Quick response

GMG Awards Voter: [118220452379]

4/5

9th March 2022
GMG Awards Voter: [13384568649]

5/5

1st March 2022

Pros:

keeping you informed about the state of all transactions automatic or direct transfer

Cons:

keep improving a already good website

GMG Awards Voter: [13365061868]

Leave a review

  • Tell us what you think of this company and help others make more informed financial decisions.

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
Good Money Guide Recommended 2024

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
  • Pricing
    (4.5)
  • Market Access
    (4.5)
  • Online Platform
    (3)
  • Customer Service
    (4.5)
  • Research & Analysis
    (4)
Overall
4.1

What 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.

YouTube video

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 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.

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.

Scroll to Top

Before you go!

Find Your Perfect Account In Under 1 Minute

Tell us what is most important to you and we'll match you with expert and user reviews of top rated financial service providers.

Match Me