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InterchangeFX Review

Ratings
Speed of Service
Reliability
Value for Money
Customer Service
Overall

Company Overview

Interchange FX is a relatively new financial services provider but has already established themselves as one of the most reliable brokers in the business. The company themselves have a very customer orientated approach, which is refreshing in a time where grabbing your money has become the priority and everything else is an afterthought. Interchange FX are based in Knightsbridge, London, just a stones throw from Harrod’s shopping center and Hyde Park.

Services

Interchange FX pride themselves on not only offering their services to businesses of all sizes but also making their product available to individuals as well. Every day people use Interchange FX to make payments on their mortgages abroad, send money to friends and family or just order their spending money for an upcoming holiday.

Customers can receive text messages direct to their mobile phones alerting them of the current exchange rate of their prefered currencies. Once said currencies hit a price that the customer finds acceptable he is able to ‘lock in’ that price and take advantage of it at a later date, ensuring you always get the best possible value. Both of these services are also available for business to business transactions.

Website and Support

Their website is relatively smooth and easy to use, although we feel it could do with a facelift. They have taken steps to improve accessibility for those that suffer from difficulties with their eyesight, which is always a positive. The information on hand appeared to be accurate and extremely comprehensive, answering most of our questions without the need for interaction with a representative.

When we did finally make the call we were greeted by a polite, friendly and helpful member of staff who remained exceptionally patience as we asked questions that we felt an average person off the street might ask. Within 10 minutes we had our answers and found ourselves negotiating with a broker, which is standard practice.

Summary

Because Interchange FX are not a high street bank and specialise in currency exchanges of varying sizes for many different reasons they are able to beat their rates by quite a margin. While most customers will find they get around 3% more money for their money than with a high street bank, it is not unheard of for people to haggle and double that margin.

Their website did its job without really leaving anyone breathless and anything that you feel isn’t explained well enough online can be broken down and explained in greater detail by their extremely capable staff. Our international transfer took a little under 48 hours to reach our foreign bank account, which is on par with the industry standard. Overall Interchange FX gave a very good account of themselves.