Currencies Direct is one of few companies that offer free transfer fees, regardless of currencies and amounts from £100 to £25,000.
Like other companies, Currencies Direct provides an exchange rate that is slightly higher than mid-market rate. The average markup on exchange rate tends to be 1.2% which is significantly cheaper than some bigger providers like Western Union and MoneyGram. But the rate varies by transfer amount. In general, the more money you transfer, the better rate you get. For example, if you send GBP to India (INR), the markup on exchange rate for 1,000GPB is 2.1%, and for 10,000GBP is 1.8%.
Most transfers can be delivered within 24-48 hours after they’ve received your funds. Arrival time may vary depending on currency, time of transfer, and receiving bank processing. Talk to Currencies Direct to understand how long your funds will take, as they send lots of money and have experience.
Besides personal and business accounts, Currencies Direct also offers multi-currency accounts for online sellers. There are few companies that provide such extensive services in the market.
Their customer support is very friendly and helpful, and you can easily reach them by phone or email, shown on their website, although it is not 24/7. The FAQ section is well organized, covering registration and payments, to overseas currencies and rates. If you want to check their exchange rates, you have to become a valid customer first, and then log in. For some clients who want to know the fees and rates in advance, they might need to check currencyfair or TransferWise.
You have as many as 11 language options to access their website. Currencies Direct’s mobile app is convenient to use, and gets 3.9 ratings on Google Play Store and 4 ratings on the App Store.