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Foreign Currency Direct Review

Speed of Service
Value for Money
Customer Service

Company Overview

Foreign Currency Direct was founded in 2000 and has since then gone on to become the 9th largest currency exchange broker in the UK, with a turnover of more than one billion pounds in 2011. They deal only with currency exchange, allowing them to provide a better service and drastically improved rates when compared to the average high street bank in the UK.

Spreads, Commission and Fees

On all transactions under £50,000 there is an administration fee of £15, any transfers over that are free of charge. Because Foreign Currency Direct only work with currency exchange their rates are extremely competitive and if you are not happy with them you have the ability to negotiate with the dealer you are working with.

Customer Service

Foreign Currency Direct are a truly customer oriented brokerage, offering some features that are quite literally unparalleled within the industry. One such feature of their service would be the fact that you will always deal with the same member of staff when you call or email them. This makes their service a little bit more personal and because Foreign Currency Direct staff are paid on a commission basis they have a personal incentive to make your experience as painless as possible, while offering you the best available rates will also encourage your repeat custom.

Ease of Use

Dealing with Foreign Currency Direct is as easy as 1, 2, 3. Make your initial contact via telephone or email, negotiate the price of your currency with your new personal dealer and finally confirm the transaction. It truly is that simple! We found that our transaction was completed in its entirety within 36 hours of us making the phone call, which is almost unheard of. Most international transfers alone take 2 business days, which is testament to the quality and efficiency of Foreign Currency Direct.

Final Verdict

If we had to use one word to describe these guys in one word it would probably be “stunning”. The rates we were offered were slightly better than the market average at the time, while the quality of service was exceptional. The only question we really have is “why are they only the 9th biggest in the UK”? If they can maintain this standard for the long term then they will surely be #1 very soon.