Since its inception in 1996, Currencies Direct has established itself as a leader in the international money transfer industry. With nearly three decades of experience, the company has grown to serve over 500,000 customers globally and facilitated more than £10bn in transactions last year alone.
In this review, we’ll examine Currencies Direct’s offerings, from its features and fees to customer feedback and security measures. Whether sending money abroad for personal reasons or handling international business transactions, we’ll help you determine if Currencies Direct is the right choice for your needs.
- Should You Use Currencies Direct?
- Currencies Direct At A Glance
- Currencies Direct Pros & Cons
- Who Is Currencies Direct Best For?
- Currencies Direct Key Features
- No Transfer Fees
- Competitive Exchange Rates
- Currency Tools
- Multi-Currency Accounts
- Fast, Secure & Convenient Transfers
- How Much Does Currencies Direct Cost?
- What’s The Transfer Process Like?
- 1. Signing Up and Setting Up Your Account
- 2. Managing Your Account
- 3. Initiating a Transfer
- 4. Transfer Processing and Speed
- Customer Support and User Experience
- Currencies Direct Customer Reviews
- Is Currencies Direct Safe To Use?
- Currencies Direct Recent Updates & Recognitions
- Disclaimer
Should You Use Currencies Direct?
If you’re sending larger amounts abroad—whether for buying property, managing a business, or supporting family—I think Currencies Direct is a strong option worth considering. It’s well-established, FCA-authorised, and has a solid track record for safety and service. The fact that they don’t charge transfer fees and offer personal account managers for high-value transfers makes them especially appealing for more complex or repeat transfers.
What stood out to me most is the quality of their customer support. Thousands of users—myself included—have praised how hands-on and knowledgeable their team is. If you want human support rather than just a self-serve platform, that could be a big plus.
That said, it’s not perfect. You can’t send to a cash pickup location, which may rule it out if your recipient doesn’t have a bank account. A few users have also found the website tricky to navigate and have had delays linked to compliance checks, especially on larger first-time transfers. I’d prefer a slightly slicker app and clearer comms at times – but once you’re set up, it runs smoothly.
Overall, I think Currencies Direct is best for those prioritising safety, support, and value over speed or ultra-modern tech. It’s especially suited to personal or business users making larger or regular transfers who want expert help along the way.
Currencies Direct At A Glance
| Feature | Details |
|---|---|
| Trustpilot Rating | ⭐ 4.9 / 5 (16,963+ reviews) – praised for excellent customer service |
| App Ratings | Apple: 4.8 / 5 (3,600+ reviews) · Google Play: 4.7 / 5 (50,000+ reviews) |
| Transfer Fees | £0 – No transfer fees on personal or business transactions |
| Exchange Rates | Competitive rates offered · Live rates visible in app/online |
| Minimum Transfer | £100 for personal users · £1,000+ for business accounts |
| Currencies Supported | 40+ currencies, including EUR, USD, AUD, ZAR, CAD, AED |
| Transfer Types | Spot transfers, rate alerts, forward contracts, limit orders |
| Transfer Speed | Typically 1–2 working days (can vary by currency/country) |
| Account Options | Personal and business accounts available |
| Customer Support | UK-based · Phone, email, live chat · Named account manager for large transfers |
| Regulation & Security | FCA-authorised · Segregated client accounts · Data encryption |
| Cash Pickup Available? | ❌ No cash pickup – bank-to-bank only |
| Mobile App | iOS & Android · Send money, manage account, track rates |
| Business Features | Multi-user access, batch payments, and FX risk management |
| Website/App Usability | Generally smooth, but some users report needing help with setup/navigation |
Currencies Direct Pros & Cons
| ✅ Pros | ❌ Cons |
|---|---|
| Supports 40+ currencies to 120+ countries | No cash pickup service |
| Multi-currency accounts | Only offers bank transfers |
| No transfer fees and competitive exchange rates with smaller markups | Limited coverage for exotic currencies |
| Dedicated account managers | Maximum online transfer limit of £500,000 |
| Offers spot transfers, forward contracts and limit orders | Can’t use hedging tools and bulk payments online |
| Able to create recurring payments | No weekend transfers |
| Most transfers arrive within 24 to 48 hours. | |
| No maximum transfer limit. |
Who Is Currencies Direct Best For?
Suitable For
- UK businesses with regular international payments: The zero transfer fees and competitive exchange rates make it ideal for companies needing efficient, cost-effective cross-border payments.
- E-commerce businesses: Multi-currency accounts are a game-changer for businesses selling internationally. They allow you to avoid conversion fees and hold different currencies.
- Businesses managing high-value transfers: With dedicated account managers and bespoke pricing, it’s perfect for larger or more frequent transfers.
- Anyone needing flexibility with currency tools: Forward contracts and rate alerts allow you to lock in favourable rates or monitor them.
Not Suitable For
- Businesses needing cash pickup services: Currencies Direct doesn’t offer cash collection options, so it’s not the right choice if that’s crucial.
- Companies dealing in exotic currencies: Limited coverage of less common currencies might be a deal-breaker for businesses in niche markets.
- Those needing weekend transfers: With no weekend service, businesses in a rush to make weekend payments may face delays.
- Smaller businesses with very low-value transfers: If you’re dealing with very small amounts, the lack of automatic transfers for bulk payments could be an issue.
Currencies Direct Key Features
Sending money internationally should be easy, affordable, and stress-free—whether managing personal finances or running a business with global transactions. Currencies Direct offers a smarter way to move money across borders, with fee-free transfers, competitive exchange rates, and expert support.
No Transfer Fees
Banks love to charge fees—sometimes £10, £20, or more per transfer. Currencies Direct cuts out those costs, so whether you’re sending money to family, paying international suppliers, or handling overseas payroll, you keep more of your money.
Competitive Exchange Rates
Exchange rates can make or break a transfer. For personal users sending money abroad—maybe for a holiday home, tuition fees, or family support—even a small difference in the rate can mean hundreds of pounds saved.
Similarly, exchange rate fluctuations can impact profit margins for businesses dealing with overseas suppliers or international customers. Currencies Direct typically offers more competitive rates than high-street banks, helping businesses lower costs and protect revenue.
Currency Tools
Exchange rates fluctuate constantly, but Currencies Direct gives you control:
- Rate Alerts—Get notified when your desired rate is available. This is perfect for anyone waiting for the right moment to send a personal transfer.
- Forward Contracts – Lock in today’s rate for up to a year—ideal if you’re buying property abroad or a business managing future expenses.
- Limit Orders—Set a target rate, and your transfer will process automatically when the market hits it. You won’t need to watch the charts all day.
Multi-Currency Accounts
Holding multiple currencies can be a game-changer for personal users who regularly send money abroad, avoiding constant conversions.
Multi-currency accounts make life easier for businesses selling internationally—especially e-commerce sellers. Instead of opening bank accounts in multiple countries, you can hold and exchange currencies within one platform and avoid unnecessary conversion fees.
Fast, Secure & Convenient Transfers
Whether you’re sending a small one-off payment or handling high-value transactions, transfers are fast and straightforward.
- Online & Mobile App Transfers – Send money 24/7 from anywhere.
- Phone Support from Currency Experts – Need help with a large transfer? A dedicated expert is just a call away.
- Local Support in Key Markets – With offices across Europe, the US, and beyond, help is available when needed.
For businesses managing bulk payments—like payroll or supplier invoices—Currencies Direct simplifies the process with batch transfers, ensuring accurate andtimely payments.
How Much Does Currencies Direct Cost?
Currencies Direct offers a clear and straightforward pricing structure designed to make international money transfers as cost-effective as possible. Here’s a breakdown of the costs you can expect:
- No Transfer Fees: There are no fees for sending money internationally, so you won’t have to worry about hidden costs eating into your transfer amount. This is a significant advantage for businesses sending regular payments.
- Competitive Exchange Rates: Currencies Direct offers exchange rates with smaller markups, ensuring you get a better deal on your transfer. These rates are updated regularly, so you always get a fair deal.
- Bespoke Pricing for Business Transfers: For businesses making high-value or frequent transfers, Currencies Direct provides bespoke pricing options tailored to your needs. This can be particularly beneficial for managing large-scale international payments.
- Receiving Bank Fees: While Currencies Direct does not charge any fees, it’s important to note that receiving banks may apply their own charges for incoming transfers. These are outside of Currencies Direct’s control.
| Service | Cost | Details |
|---|---|---|
| Transfer Fees | £0 | No fees for sending money internationally. |
| Exchange Rates | Competitive | Rates with small markups for better value. |
| Bespoke Business Pricing | Varies | Tailored pricing for high-value or frequent transfers. |
| Receiving Bank Fees | Varies | Possible fees from the recipient’s bank. |
What’s The Transfer Process Like?
Using Currencies Direct for international money transfers is straightforward and user-friendly. It is designed for both individuals and businesses. Here’s what you can expect from the process.
1. Signing Up and Setting Up Your Account
Signing up with Currencies Direct is quick and easy. You’ll need to provide some basic personal information, like your name, address, and contact details, along with proof of identity for security and regulatory compliance.
The process is a bit more detailed for businesses. You’ll need to provide business registration details and documents verifying your company’s financial standing. Once you’ve set up your account, you’ll get access to the platform and can manage your transfers immediately.
2. Managing Your Account
Once you’re registered, managing your account is simple. The platform gives you full control over your transfers. You can set up multi-currency accounts to hold different currencies, which is especially handy for international businesses. You’ll also have access to the rate alert feature, which notifies you when your desired exchange rate is available.
I think the ability to hold multiple currencies is a massive advantage, particularly for e-commerce businesses. It saves time and money by avoiding constant conversions and allows for seamless international transactions.
3. Initiating a Transfer
To initiate a transfer, simply log into your account and choose the amount you want to send, as well as the currency and country of the recipient. You can also select specific transfer options like forward contracts, which let you lock in today’s exchange rate for future transfers. This can be great for businesses planning to make international payments or purchases in the near future.
The process is just as easy for individuals, whether you’re sending money to family or paying for a holiday home abroad. Simply choose the recipient’s details, and you’re good to go.
4. Transfer Processing and Speed
Once you’ve confirmed the details, your transfer will be processed. Currencies Direct ensures that most transfers arrive within 24 to 48 hours, making it quick and reliable. You’ll receive regular updates on the progress of your transfer, so you’re always in the loop.
One of the standout features is the transfer speed. This quick turnaround time is a real plus for business payments or personal transfers, especially when dealing with urgent payments.
Customer Support and User Experience
Currencies Direct offers a range of support options to make sure you can always get the help you need.
Support Channels
- Phone: Dedicated helplines for both personal and business accounts.
- Email: For inquiries and follow-ups.
- Live Chat: Real-time responses during operating hours.
- Help Centre: Extensive FAQs and resources for quick self-service.
I find the availability of multiple communication channels reassuring. Whether I’m dealing with a simple question or need a more complex solution, knowing I can choose my preferred method of contact is a huge plus.
Dedicated Business Support
For businesses, Currencies Direct goes the extra mile by offering dedicated account managers. This is particularly useful if you’re making regular or high-value international transfers. Having a point of contact who understands your business needs can help streamline processes and provide tailored advice.
Personal clients can still expect excellent service, but the added benefit of a dedicated account manager is a standout feature for companies. From my perspective, this tailored service is a game-changer when managing international payments as a business.
Support Hours & Proactive Communication
Currencies Direct offers support during regular business hours (typically Monday through Friday), and its helpline is open to assist with urgent matters. While the business hours are standard, the speed and quality of service you receive make up for them. I think this level of service is sufficient, especially with the live chat feature available during operating hours.
What sets Currencies Direct apart is its proactive approach to communication. You’ll receive regular updates about your transfers, ensuring you’re always in the loop. Whether it’s a delay or confirmation that a transfer has been completed, this transparency makes a huge difference, especially when managing important financial transactions.
Currencies Direct Customer Reviews
Currencies Direct has built a strong reputation with most customers, especially in terms of customer service. On Trustpilot, it scores 4.9 out of 5 from more than 16,000 reviews, and a lot of that praise goes to the staff. People consistently mention how helpful, patient, and knowledgeable the support team is. I’ve seen plenty of comments about advisors taking the time to walk customers through unfamiliar processes, which I think really matters, especially if you’re making large or complex transfers.
On mobile, the experience is also generally very positive. The app has a 4.8 rating on the Apple App Store and 4.7 on Google Play. Most users say it’s quick and simple to use, particularly for sending money abroad or making payments while travelling. I think the recent design improvements have made a difference, though a few people noted small annoyances,l ike limited currency support or occasional card issues. Still, most would happily recommend it.
That said, not all reviews are glowing. A small but vocal group of users raised concerns around compliance delays, blocked accounts, and difficulties getting hold of support when things go wrong. Some also mentioned uncompetitive rates and a lack of flexibility in managing their money. I’ve seen that the biggest frustrations come when transactions are flagged for checks, and the follow-up support doesn’t quite deliver.
In my view, if you value strong, human support and a simple mobile experience, Currencies Direct does a solid job. But it’s worth going in with clear expectations around verification checks and timelines, especially if your transfer is time-sensitive.
Is Currencies Direct Safe To Use?
Currencies Direct takes security seriously, implementing multiple layers of protection to ensure your money and data are safe.
- Regulation: Currencies Direct is fully regulated by the UK Financial Conduct Authority (FCA) and licensed in several key markets, including Europe, the US, Canada, South Africa, and India. This ensures that it complies with strict financial standards and regulations.
- Segregated Client Accounts: Customer funds are kept separate from the company’s money, providing extra protection in financial issues.
- End-to-End Encryption: All personal and payment data is encrypted, making it highly secure when transferring money or accessing your account.
- Two-Factor Authentication (2FA): An added layer of security for logging in and making payments, ensuring only authorised users can access accounts.
- Fraud Prevention Systems: Advanced monitoring systems detect suspicious activity and prevent fraudulent transactions.
- Secure Banking Networks: Payments are processed through secure, trusted banking networks, further minimising any risks.
Currencies Direct Recent Updates & Recognitions
Currencies Direct has been making waves in the international money transfer space, winning awards and recognition for its innovative services.
Currencies Direct’s multi-currency debit card has been shortlisted for the ‘Best Customer Service’ category at The Card & Payments Awards 2025, highlighting the company’s commitment to making international spending more convenient for customers.
Other recent awards include being named the Best Business FX Provider 2023 at the Business Moneyfacts Awards and Money Transfer Provider of the Year 2023 at the MoneyAge Awards—an achievement that marks the fifth time it’s won this prestigious title.
Disclaimer
The content in this article is intended for general informational purposes and should not be considered as financial advice. While we strive for accuracy, the information may not account for your specific needs or reflect the most recent updates in financial services.
Before making any financial decisions, including selecting a money transfer service, we recommend consulting a qualified financial adviser who can offer advice tailored to your personal situation. The services discussed may not be suitable for all individuals, so it’s important to carefully review factors such as fees, exchange rates, and relevant regulations before proceeding.
The use of this information is at your own risk, and we accept no responsibility for decisions made based on the article’s content. Always check with the service provider directly to confirm their terms and conditions.
FAQs
Yes, your money is safe with Currencies Direct. The company is fully regulated by the UK’s Financial Conduct Authority (FCA), ensuring that customer funds are held in segregated accounts separate from business funds. This means that your money remains protected even in the unlikely event of financial trouble. Its fraud prevention measures, encryption technology, and secure payment systems add extra layers of protection, giving you peace of mind when sending money abroad.
Currencies Direct does not charge transfer fees for sending money internationally, which sets it apart from many banks and competitors. Instead, the company makes money through the exchange rate margin—a small markup added to the mid-market rate. However, it’s worth checking if your recipient’s bank applies any charges on incoming payments.
Currencies Direct transfers typically take one to two working days, though the exact timing depends on the currency, destination, and payment method. Major currencies like EUR, GBP, and USD tend to move faster, while more exotic currencies or bank processing delays might slow things down.
Currencies Direct doesn’t have a daily transfer limit, but the maximum you can send online in a single transfer is £500,000. You can contact your dedicated account manager or visit a branch for larger transfers.
Currencies Direct supports over 40 global currencies, including the major ones, such as GBP, EUR, USD, AUD, and CAD, as well as many less common ones.
CStart by signing up for a free account online or via their app. Once registered, you can get a personalised exchange rate and set up your transfer. After funding the payment via bank transfer, Currencies Direct converts the money at the agreed rate and sends it to the recipient. Business customers can also access tailored currency solutions, like risk management tools and bulk payments.