Review of Currencies Direct

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by Nisha Ja


Good to know is probably best classified as a “broker”, as opposed to a purely website or app-based money transfer service like PayPal. Brokers offer the best experience for customers wanting to transfer large amounts of money overseas as they typically have lower commission rates for large amounts (much lower than banks or PayPal, see comparison table below) and they will help customers through the process over the phone.

Currencies Direct is highly regarded in the realm of international money transfers and foreign exchange services, with a strong reputation for reliability, competitive exchange rates, and exceptional customer service. Like all the biggest international money transfer companies it is based in London, UK, and was established in 1996. It has since grown into a trusted platform, offering a wide range of services designed to make currency exchange and international payments more efficient and cost-effective.

If you’re considering using Currencies Direct for transferring a large amount of money overseas, you’re looking at a service well-regarded for its reliability, competitive exchange rates, and exceptional customer support. Currencies Direct has established itself as a trusted platform for those looking to transfer large amounts of money as part of emigrating. It is cheap for high value transfers, even cheaper than new challenger banks and online-only services like Wise and Revolut; in fact we use it as our go-to international money transfer provider and recommend it throughout this site.

Key Benefits for Personal Customers:

  • High Customer Satisfaction: With a Trustpilot score of 4.9/5 from nearly 10,000 reviews, Currencies Direct is celebrated for its user-friendly account setup, transparent fee structure, excellent exchange rates, fast and reliable payment delivery, and attentive customer service​​.
  • No Transfer Fees: One of the most appealing aspects of Currencies Direct for personal transactions is the absence of transfer fees, allowing you to move large sums of money abroad without worrying about excessive costs. Their revenue comes from a small markup on the exchange rate, but it remains competitive, ensuring you get a good deal on your transfer​​.
  • Efficient Transfer Process: For large transfers, Currencies Direct provides a seamless experience, with most transactions completed within 24 to 48 hours. For amounts over £50,000, you can access personalized service during office hours, ensuring your large transactions are handled with extra care and attention​​.
  • Competitive Exchange Rates: Currencies Direct supports 60 currencies, offering competitive exchange rates that can result in significant savings, especially on large transfers. They also offer various transfer options, including spot and forward contracts, allowing you to lock in favorable rates​​.


  • Service Features: While Currencies Direct offers a comprehensive suite of services, it’s worth noting there are some restrictions, such as limitations for U.S. customers due to state regulations. However, these are unlikely to affect the majority of international transfers​​.
  • Exchange Rate Margins: Although there are no fees for personal transactions, Currencies Direct applies a margin to the mid-market rate. This margin is competitive and decreases for larger amounts, meaning the more you transfer, the better rate you can secure​​.

Additional Features for Large Transfers:

  • Personal Account Management: For large transactions, you can benefit from the expertise of a personal account manager who will guide you through the process, offer advice on the best time to transfer, and help you navigate the complexities of international currency exchange​​.
  • Advanced Money Transfer Products: If you’re transferring a large sum, you might want to consider products like forward contracts, which allow you to fix the current exchange rate for a future date, protecting you against unfavorable shifts in the market​​.

Customer Support and Ease of Use:

Signing up is straightforward, and customers can manage transfers online, via the Currencies Direct app, or over the phone. The platform’s ease of use is frequently commended in reviews on TrustPilot and similar sites, along with the availability of customer support through various channels​​.

Trust and Transparency:

Currencies Direct is regulated by the Financial Conduct Authority (FCA) in the UK, FinCEN in the USA, and equivalent bodies in other regions, ensuring a high level of trust and compliance with financial regulations​​.

Price comparison:


% Added to the “true” (mid-market) exchange rate

Fees on top of the padded exchange rate

Time for transfer

Typical US Bank



2 business days





Currencies Direct



1 business day

In summary, Currencies Direct’s commitment to transparency, competitive rates, and personalized service makes it an excellent choice for anyone looking to transfer a significant sum of money abroad. Whether you’re buying property overseas, investing, or simply moving funds, Currencies Direct offers a secure, efficient, and cost-effective solution.