Tell us about your transfer We'll tell you who's offering the best rate today...

Currencies Direct Review

Ratings
Speed of Service
Reliability
Value for Money
Customer Service
Overall

Basic Information

Founded in 1996, Currencies Direct is one of the fastest growing foreign exchange companies in the UK. They operate on 5 continents and have over 220,000 clients around the world. They cater to consumer needs, although they do work with some businesses. No matter what your specific need is when it comes to exchanging currency, you can be sure that Currencies Direct is the best place to use.

Spreads/Commissions/Fees

Currencies Direct works on a no commission structure, so you can be sure that the cost of your transaction will be as low as possible. Currencies Direct deals with large volumes of currency, so they can get the lowest rates from the banks as possible. Most other brokers can’t do this. If you get a quote from Currencies Direct and compare it to what some of the other brokers are offering, you will wonder why anyone uses anybody but Currencies Direct.

Customer Service

Getting a customer service rep from Currencies Direct on the phone is an incredibly easy task. We all have gone through the experience of trying to get someone on the phone from one of the other major foreign exchange brokers, only to be put on hold for 20 minutes. When we do get an answer, it is sub par and doesn’t really solve the problem we had in the first place. This is not an issue with Currencies Direct!

Ease Of Use

Currencies Direct is very easy to use. Since they have such a high quality customer support team, anytime you run into an issue you can just make a quick phone call and have it resolved in no time. The actual currency exchange process they use is actually designed in a way to be used by people who have almost no experience in exchanging money, so almost everyone will be able to use the service with ease. The online platform that Currencies Direct uses is also very simple to use and comes with lots of instructions and support. There really isn’t anything difficult about using Currencies Direct.

New Opportunities

In 2006, Mayank began stepping away from the day-to-day running of the organization. The parent company, Azibo took over the reins and sought new business to acquire. Currencies Direct took over a majority Stake in Universal VAT Systems and started an online payment system known as I-PAYFX. To garner more customers, the company started the website, FX4Charity. Using this partner organization, Currencies Direct donated funds to charities for every FX payment that was completed.

Today, Currencies Direct operates offices in Portugal, the United Kingdom, South Africa, Spain, Canada and the United States. Users can take advantage of services like Risk Solutions, forward contracts, online payments and telegraphic transfer. Many of the consumers who use Currencies Direct are expats who live abroad and are buying a foreign home or are individual investors seeking easy access to the marketplace. Individuals use the company to pay for their overseas education, emigration, imports and regular payment transfers. Visitors to the United Kingdom can use Currencies Direct to receive their VAT refund within its Universal VAT Services subsidiary company.

Using Currencies Direct

As one of the top ranked foreign exchange companies in the United Kingdom, Currencies Direct works to combine foreign exchange and payments into one simple online process. Due to this intense dedication to their business, Currencies Direct was short-listed for the 2006 Business of the Year award and the 2007 Service Business of the Year award.

Consumers report that the company offers friendly and effective customer service. Their exchange rates are always lower than that offered at traditional banks and are normally quite favorable when compared to other foreign exchange companies. Currencies Direct provides clients with same day delivery service for their funds and accessible account managers. Overall, the company justifies its numerous awards with an open customer service policy and favorable exchange rates.

Final Verdict

Currencies Direct really is one of the top currency exchange solutions around. Not only do they provide phone exchanges, but you can send money using their online platform and even have it put on a prepaid currency card. They are very easy to deal with and offer some of the most competitive rates in the business. You really can’t go wrong with Currencies Direct!

How Do I Get Started Using Currencies Direct?

Opening an account with Currencies Direct is a very simple process. Just head over to their website, fill in the simple form, and wait for your application to be approved – that’s all there is to it. There are no fees for signing up and the whole process takes only a few minutes. When your account is approved, you will have access to iPayFX and can begin sending international money transfers whenever you feel like it. It’s worth opening an account at Currencies Direct just to see what it’s all about!