Currency Solutions 2018-01-21T02:37:49+00:00

Currency Solutions

currency-solutions-review

Currency Solutions, a London based foreign exchange company, started its operations in 2003. With offices in Cyprus, Dublin and Amsterdam they have expanded their services since their inception. The company has over 140,000 clients and transacts with almost all the currencies. They accept payment through bank transfer, debit card or credit card. However, there is an additional transaction fee of about 1.5-3% if paid by credit card. No cash deposits are accepted. Most of their transfers are delivered on the same day but the duration depends on the currency and the payment method.

Currency Solutions caters to both individual clients and business clients. They are also authorized by the Financial Conduct Authority (FCA) to sell foreign exchange derivatives. The transaction process is fairly simple; once you register a dedicated currency specialists would guide you over the phone and answer all your queries to get you started. They are highly recommended for their customer service, as they have an average rating of 9.6/10 by over 1,700 clients on Trustpilot. Transact with them for a hassle free of money transfer experience. You can transfer a minimum of £100 and maximum of £5,000 via their website and orders above £5,000 need to be placed via their dedicated currency specialists over the phone.

Visit Currency Solutions
www.currencysolutions.co.uk
Founded: 2003
Headquarters: London, UK
Offices: UK, Cyprus
Regulated by: FCA
Trading channels: website, telephone

reviews on TRUSTPILOT

5-trustpilot

9.6/10 Excellent

Currency Solutions Key Features

Pay-in Options bank transfer, debit card, credit card
Recipient’s Options bank account only
Min Transfer Amount £50
Max Transfer Amount £300,000 via bank transfer
Speed most transfers are completed in 1-4 days
Transfer Fees no fees on all transfers
Exchange Rate HiFX claims a bank-beating exchange rate
Currencies Available 142 currencies

Currency Solutions Review

Transfer Fees

HiFX claims they charge no transfer fees on all transfers.

However, you still have to be aware some other fees which HiFX are not liable for when sending money to them.  HiFX encourages you to pay by bank transfer or debit card. But before you start to fund HiFX, you need to check with your sending bank and the receiving bank, as they may charge some fees. Credit card transactions will cost you an additional fee of 1.6% of total amount.

Exchange Rate

HiFX offers bank beating exchange rate which is very competitive. This rate varies by type of currency. Therefore, the markup from NZD to USD, for instance, is 1% more than mid-market rate. The average markup on exchange rate tends to be 1.5%.

Speed

HiFX advises you 1-4 working days for the money to be delivered to recipient’s account. The method you use to pay HiFX will affect the whole processing time. Funding via credit or debit card results your money to reach HiFX immediately. Bank transfer usually takes up to 3 days for them to receive your money.

User Experience

HiFX’s customer service is 24/7 either by phone or email. Customers can complete their transfers on website or over phone. However, lack of mobile app makes HiFX far behind most competitors.

It is also un-convenient for clients when it comes to comparing transfer costs. You’re allowed to check exchange rate only after you logged into their website. That means you have to sign up for a free account first before you can compare and transfer. From our experience, it only takes a couple of minutes to finish register. But you’ll need to upload the following documents to be approved,

1 x Proof of Identity: passport, national ID card, or driver license.

1 x Proof of Address: recent utility bill or bank statement.

Visit Currency Solutions

Currency Solutions Pros and Cons

  • zero transfer fees on all transfers

  • 142 currencies and 170+ countries available

  • small limitation of £50 minimum transfer amount

  • 24/7 friendly UK based telephone support

  • website only, without mobile app

  • only registered clients are able to compare exchange rate

  • money account only for recipient, without cash pick-up

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