1. TRANSFERWISE(OUR #1 RECOMMENDATION)

TransferWise is an online money transfer service that was founded in 2011. It is regulated by the Financial Conduct Authority and has earned the trust of more than three million people around the world. The company currently has over 2200 employees with 14 open offices. TransferWise supports more than 300 currency routes in the world. The company exchanges currencies in a transparent way and is said to be eight times cheaper than banks. They accept credit cards, Apple Pay and Android Pay as their payment methods on addition to specific bank transfers. They use real exchange rates such as mid-market rate, interbank rate and spot rates for their transfers.

They have a multi-currency account feature that allows their customers to hold over fifty currencies at once then convert them whenever they are ready. TransferWise has a simple design and takes the burden off customers of paying high costs just to send money across borders. The company has peer –to-peer transfers which is achieved by matching people who are transferring money to the opposite direction. This helps to cut on huge exchange rates and any foreign transactions. They later send the funds to the intended recipient. Transfer wise conducts their payments in the country’s local currency. The amount charged for money transfers is dependent on how much one is sending and the final destination. They have an online pricing tool where one can price out their transactions before making a transfer.

Pros of TransferWise services

TransferWise has a low and transparent transfer fee. The fees to be charged are made available to the customers before they perform the transfer process. TransferWise uses local accounts for sending and collection of funds. This is an advantage, as there are no intermediary bank fees. For those making payments using credit cards, a fee of a range between 0.3 to 2% is incurred based on the currency and where you are sending from. Debit card payments are free for certain currencies or a percentage of 0.15 – 2%.

TransferWise have highly competitive exchange rates in the market. It converts customers’ money using true mid-market rate. It is the fairest and the most accurate exchange rate that one can find. They also take a further step and lock the exchange rate for their clients for a given period of time so that they do not experience exchange rate fluctuations.

Their services have excellent credibility and security. TransferWise is fully licensed and authorized as an electronic money institution, meaning customers’ funds are safe with them. It is a long established company and is regulated by FCA and HMRC. They have already transferred over five billion dollars for their customers worldwide earning more people’s trust.

TransferWise guarantees safety when transacting with them. They are registered as a money transmitter and are supervised by several regulatory authorities. They offer institutional grade sercurity and take preventive measures when dealing with clients. There is a 2-step login and verification procedures. Their clients’ cash is held separately from the company’s business accounts and this assures customers that their money is not interfered with. Money reaches the recipient in the correct amount and on time.

TransferWise is convenient and has great coverage as a money transfer provider. They offer their customers a chance to send money to a lot of different countries worldwide. It has also been translated to different languages making it easier for a lot of people to use it. Customers are able to pay for their transfers by local banks, credit cards or debit cards.

Their customer support is great. They have a live chat that is available for their customers in case of any difficulties. TransferWise also offer help via email or through phone calls. This makes it easy to contact them and get guidance through the process.

Customer experience is fantastic. They have a mobile app that is easy to use. TransferWise arranges customers’ transaction online and the money is sent directly to the recipient’s bank account. Their bordeless account allows clients to hold over fifty currencies and send or spend money overseas using contactless TransferWise debit MasterCard.

Cons of TransferWise Services

TransferWise only pays by bank transfer, debit card or credit card. A person cannot pay their transfer with cash or using a cheque. This limits potential customers who may not be having bank accounts. The recipient ought to have a bank account too in order to receive the cash sent.

Their customers have to incur bank fee charges during their transactions. This may be outside the control of TransferWise but it is inconveniencing for their clients. The charges may also be slightly higher based on the amount of money and the type of bank.

Sometimes clients may experience delays in their transfers. This is often due to bank compliances. There could also be issues with verification and a customer’s account has to be suspended. This is mainly to ensure security of the funds.

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The company does not offer additional payment options apart from the bank. It also does not offer an...Continue

TransferWise have services that are convenient for businesses. Setting up a TransferWise business ac...Continue

TransferWise app is easy to use. It is accessible by both Android and IOS users, the app has easy to...Continue

TransferWise transfer funds process takes a couple of business days to reach the intended recipient....Continue

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2. XE MONEY TRANSFER

XE Money Transfer is an international money transfer Company that has existed for over twenty years. It is one of the most reputable foreign exchange businesses. It allows both individual and business transfers. The company offers international money transfers, forward contracts, market orders, mass payments and regular transfers. XE Money Transfer deals with 139 currencies and they transfer money to over 130 countries in the world. The personal customers do not pay any transfer fees though there is an application of the nominal exchange rate margin. It also provides currency hedging tools, account managers for the business clients and payments API for businesses receiving payments.

XE Money Transfer is widely trusted. Customers can easily set up an online account with them and make their currency exchange transactions. Their method of payments is through personal bank accounts, debit cards or credit cards. Services by XE Money Transfer can be accessed all day using their secure online platform. Customer assistance is also available including assistance of a personal account manager for huge transfer amounts. In case a client needs advice on a specific rate, wants to make multiple payments or has complex needs, they are always ready to assist. Regular updates on a client’s transfer are provided via SMS or email. It is highly convenient as most of their transactions are usually completed within the same working day.

Pros of XE Money Transfer services

Setting up of money transfers with the company is quick and easy. The customers are able to sign up and make a transfer both on mobile and desktop. The XE Money Transfer’s homepage is clear and very easy to understand. Money transfer can take one to two days.

It allows regular transfers and phone transfers which is convenient for their customers. Money transfers can be done from anywhere and their mobile app is available in both Android and IOS.

XE Money Transfer provides multilingual customer support. It provides local phone support to their clients. The languages available are English, French and Spanish.

XE Money Transfer is reliable and safe. It has been regulated in different countries by the FCA. It is a better way to transfer money internationally than using banks. The recipient is assured of receiving the funds.

The company’s services are affordable. It does not charge any fees for carrying out transfers. Any existing mid-market rates attract a low nominal margin fee.

Cons of XE Money Transfer services.

There is lack of transparency when it comes to their fees. Customers are only notified of the fees charged towards the final step of their transfer.

XE Money Transfer has no cash pickup locations for the recipients. They do not offer travel cards or digital wallets which may be limiting to most of people.

The company’s website is only in English language so any client who cannot read English is at a disadvantage

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TorFX offers Multi-Currency support with over sixty currencies. It allows both exotic and regular tr...Continue

There are no guaranteed exchange rates and it does not support standing orders. The advantage is tha...Continue

XE Money Transfer does not offer additional pay-in options. Customers are not able to pay for their ...Continue

3. TORFX

TorFX was founded in 2004 as a money transfer company. It provides foreign exchange and international payments for customers around the world. The company’s main goal is to connect clients with great services and competitive exchange rates. It serves both personal and business customers. It has one of the most top ranked customers support as they assign an account manager for their clients. TorFX allows bank to bank transfers and card to bank transfers. The company deals with sixty currencies across the world and has a reliable online transfer platform. Personal customers are able to access international money transfers, forward contracts, limit orders, stop loss orders, regular transfers and dedicated account managers. Their business clients are offered with similar services as personal customers on addition to multi-currency wallets.

Pros of TorFX services

A personal account manager is assigned to all their customers. The manager assists clients in all their queries and can even arrange your transfers. They assist in getting better rates than whatever is available on the website

Their services are safe and secure. The company holds an AFS license which makes it secure for your money transfers. They transfer over ten billion dollars every year.

TorFX is transparent with their services. They do not charge any fees fixed fees for their transfers. TorFX add a margin on their exchange rate and that is what they offer to their clients. There are no hidden costs by TorFX.

TorFX has flexible transfer options for their customers. They offer forward contracts, spot contracts and market orders to their clients based on their needs.

Their services are easy to use. The TorfX app is available through Apple App Store and Google Play Store for all their personal customers. The sign up process is easy and fast via phone or online registration. Transfers can be initiated and completed within a day and the verification process takes less than a day.

Cons of TorFX services

TorFX services are expensive to certain customers due to their set limits. The minimum amount to be transferred is 250 dollars which locks out individuals who send small amounts to their loved ones.

TorFX has limited transfer payment options for customers. Payment for money transfers is limited to using a bank transfer and the client’s names should be read on the account to avoid cancellation.

Their services are costly for anyone who is sending little money. Any amount less than 2000 dollars has unfavourable exchange rates. The amount is usually higher.

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The TorFX mobile app is convenient for the customers. The app enables them to track their transfers,...Continue

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3. OFX

OFX is an online money transfer provider established twenty years ago. It transfers money internationally to more than eighty countries through its mobile app and website. The company only deals with bank account transfers, this means their delivery purely lies on the standard banking hours and processing. It currently has more than two hundred employees and deals with over fifty five currencies. The features available in the OFX mobile app include; current mid-market rates and the status of transfers made by the user. OFX website does not have online live chats for clients but contains a list of helpful information.

OFX services have been regulated by FCA and several regulating bodies based on various countries. OFX offers their customers with regular transfers such as mortgage payments or tuition fees, a personal account manager who guides them through the process or currency markets as well as spot exchange transfers. Their business customers can also take advantage of their services in risk management, global payment solutions, multi-currency accounts and their business specialists who support businesses by management of foreign exchange demands.OFX Company has a fee model that is straight forward and their margin fee depends on the currency purchased though it is among the lowest available in this industry. The minimum transfer amount is 1000 dollars and their transfer period is one or two days.

Pros of OFX services

OFX has great customer services. It combines an easy to reach customer service and a totally different digital experience. Clients are able to reach a representative at an hour due to their location globally and the different time zones. Their website also offers a well organized list of information that is extremely helpful.

OFX offers the lowest costs of transfers among the many providers. There are completely no charges no matter the amount being sent by the customer. The exchange mark up rate at OFX is less than one percent. This places it above most of the international money transfer companies available globally.

The ease of use is another advantage of this company. OFX has a fast and simple online sign up process which can be done on their app or over a phone call. Identity verification process is also quick and they mostly ask for the driver’s license ID number then make a phone call.

OFX mobile app is efficient and is available in both android and IOS. The features in the App make are easy to follow and go through the transactions. It easily adds recipients and deals are locked within the mobile app. Previous as well as updated exchange rates are available in the app. This makes it possible to check on the appropriate time to send money abroad.

OFX has a global presence and supports several destination countries. It allows the transfer of over 55 currencies including a lot of exotic currencies. This also makes it easy to access customer support as their offices are located globally. OFX has seven global offices in Australia, NewZealand, Hongkong, Singapore, Canada, United States and UK.

OFX has no limits on the maximum amount of money that an individual can transfer. This makes it convenient as large amounts of cash can be sent using this money transfer provider. Considering their charges are low, it may be just the best option for your next transaction.

OFX Company has tools that help businesses to manage risks. The tools assist mitigate the risks from currency fluctuations. This helps their business customers to reduce the impact of currency changes on their business cash flow by reducing expenses.

Cons of OFX services

Transfer services with OFX take an average of two to four business days. This is because it takes one to two days for OFX to receive money from the client’s bank account and another one to two days for the delivery to the intended recipient. It does not have the best speed and may not be the best option when the funds are needed for an emergency.

OFX money transfers are only done via bank to bank accounts. This limits their customers’ transactions as they are only limited to the official bank working hours. The process also takes longer due to bank compliance. They do not have digital wallets for clients, cash pickup or international bill payments services.

The minimum transfer amount in OFX is 1000 dollars or 100 Euros. People who want to transfer money online in lesser amounts cannot be able to do so using OFX. They have to find other money transfer providers that are optimized for small fund transfers.

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OFX is easy to use and efficient. The company’s account is easy to set up online and route currenc...Continue

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4. WORLDFIRST

WorldFirst is an international money transfer company founded in 2004 and is based in London. This money transfer provider serves both individuals and businesses and allows online foreign exchange around the world. Making international payments and money transfers is easy with WorldFirst. Clients are able to choose from a variety of foreign currencies and convert it to their desirable currency. It allows the transaction of more than 180 currencies worldwide. WorldFirst has a straightforward three-step system for their money transfers. Customers only need to create accounts with the company then initiate their transfer processes and the money shall be sent to the recipient.

For those in businesses, WorldFirst specializes in business transfers, it helps companies to pay salaries to their employees easily, make any necessary payment to their suppliers as well as the handling of imports and exports. It also boasts of great exchange rates that have a smaller margin compared to banks. It even gives their customers an option to lock in an exchange rate for as long as three years before transferring and sets up any recurring payments. WorldFirst allows access of their app by smart phones and even a smart watch. Other features in this company include; exchange rate alerts, live rates and graphs and a tiered exchange rate system. It has transparent and competitive foreign exchange fees.

Pros of WorldFirst services

WorldFirst services are affordable as it offers minimal transfer fees. For all their personal transfers it is absolutely free for transactions above 10,000 dollars and the businesses pay a fee rate of between ten and thirty dollars as their transaction fees. Exchange rates are low as they are priced at 0.50% , 0.15% and 0.25% based on the amount that is transacted.

The company has flexible sending options for their customers. To be able to deal with the ever changing business dynamics, WorldFirst has worked around the exchange rate variations. It gives spot contracts for those one time transfers, recurring payment options and forward contracts so that clients are able to lock in rates for future transfers.

WorldFirst Company deals with over 180 currencies. This makes it absolutely convenient for all customers who may want to transfer money internationally. They are able to choose from a variety of currencies and get whatever currency is suitable for their intended recipient. It is also a great advantage for clients that trade with exotic currencies.

WorldFirst offers customized services for their customers. They have invested in products and extra support for market place exchange and e-commerce clients. This enables clients to get the best rates and benefit from advice for anyone who would like to trade with exchange marketplace option.

This company has one of the best customer service experiences. The customer care agents are reliable, patient and very understanding. Their help can be accessed via phone calls or live chat. They are absolutely efficient as they extensively answer questions in a multiple of areas and assist customers through the process. The customer care representatives are available during week days throughout working hours and their response is quick.

WorldFirst has a mobile app that is available in Google Play and App Store and can be downloaded freely by personal customers. The app makes money transfer easy and fast for their customers. This app can also be synchronized with an android smart watch to enable money transfers within seconds. Customers with the WorldFirst App are able to make payments, track transfers, view live rates, initiate card payments and get regular market updates.

WorldFirst contains competitive rates for large amounts of money. It offers a Price Promise so that in case their customers manage to get a more favorable rate, then the company will better it. They do this through partnerships with other money transfer providers and the banks.

Cons of WorldFirst Services

They have limited transfer payout options for their customers. Clients are only allowed to make transfers to bank accounts. This is limiting for most people. They do not offer mobile transfers, cash pick up or airtime top up. In case one wishes to use any other payout option they will have to consider a different money transfer provider.

WorldFirst money transfer services are not the best for clients who would want to transfer small amounts of money. They have a higher transfer threshold for money that can be sent. The minimum amount for personal accounts is 1000 dollars which may be high for most customers.

The transfer of money using WorldFirst is not the fastest especially when sending emergency cash. The transfer process may take up to four days and they hardly offer a tracking system to help track the progress of the transfer. This may not be the best option for instant money transfers.

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6. CURRENCYFAIR

CurrencyFair is known as one of the top most peer-to-peer money transfer providers in the industry. It is a third party money transfer that is done between their customers. Their services involve international money transfer and their ten years existence has given them a solid reputation. It was founded in 2009 and has its headquarters location in Dublin, Ireland. CurrencyFair has consistently invested in their staff and technology and this enabled to be the first global money transfer company to break the one billion dollars transfer barrier. It has also emerged as one of the cheapest money transfer providers and has a highly competitive exchange rate. However they only deal with the transfer of twenty types of currencies in over 157 countries worldwide.

CurrencyFair services allow both personal and business money transfers. The payments performed by CurrencyFair include; investments, dividends payments, insurance payouts, donations to charities, purchase of supplies and property, education fees, loans repayments, bills, salaries, remittances and even travel expenses. The company has put in place security measures to ensure that their clients’ money, information and privacy are secured. It boasts of faster transfers for any amount of cash and transparency in their fees and rates. CurrencyFair also has a mobile App which was launched in 2015 that helps in currency exchange. The company’s system is able to calculate and give customers the approximate amount their recipients will receive, the estimated delivery, the transfer fees and exchange rates making it even more convenient. CurrencyFair offers their clients exchange rate alerts, online account management, regular transfers and saving services for businesses.

Pros of CurrencyFair services

CurrencyFair has extremely low exchange rate margins making it one of the most competitive money transfer providers. Their exchange rate percentage markup is so minimal to a point of being negligible in certain transfers. Information on exchange rates is always available on their platform and their online calculator provides the current exchange rate pricing for your currency pair.

CurrencyFair sevices are affordable. They offer low transaction fees with most transactions charging as low as between 0.25 and 3% depending on the exchange currency pair available during the transfers. The average fee charged is 0.45%. The transfer of large amounts of money is still cheap, making it a better option for clients when transferring lots of money.

It has an interactive mobile app platform making the process simple and easy to use. The CurrencyFair app is an easy to use platform with clear and few steps to send money. The app is available on Android and IOS platforms for all users. CurrencyFair app has multiple functionalities that enable quick currency transfers. It displays live exchange rates, allows tracking of funds, captures and uploads photos for identification as well as helps to manage your bank accounts.

CurrencyFair performs quick transfers making it convenient in most circumstances. The time taken for the transfers is dependent on the total time spent during the ‘send in’ and ‘transfer out’. Averagely, it takes 24hours to get to the CurrencyFair system which is the ‘send in’ and another one to two business days to transfer out to the required destination. The estimated arrival time is usually communicated to avoid any inconveniences.

The company is known to be reliable and the customers’ funds are always safe. CurrencyFair has been registered and regulated by different government bodies in the countries they exist in. It ensures the protection of client funds, observes high standard for systems and procedures and has a management vetting criteria. Several security measures have also been put in place to help detect financial crimes, track deposits and transfers, verify identification and secure their clients data.

CurrencyFair account is absolutely free to sign up and available to both businesses and individuals. Businesses are able to open a CurrencyFair account in order to help them save. Individuals are assured that their money transfers are transparent and they have good security.

The company provides instant exchanges with the auto-transactions. Customers who use the exchange marketplace option are able to choose their rates based on estimations. It is completely easy and fast processing the online transfers with available phone assistance..

Cons of CurrencyFair services

CurrencyFair services are only limited to 20 currencies worldwide. This means that their consumer market is also reduced. Most of the transfers have to be done in the available currencies and not the local currencies available for the recipients’ location or destinations.

They do not offer the human support experience in case a client needs online help with the process. This makes it difficult to get the necessary assistance or answering of any queries. The live chat is manned by a CurrencyFair Bot with preprogrammed responses for the customers.

CurrencyFair is not available in most countries especially in Africa. It is also not available for US residents. This limits their market reach and only customers in the countries they are in can access their services. For international money transfers to more countries, potential clients will have to find other money transfer providers.

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The company is among money transfer providers with the highest standards of client satisfaction. How...Continue

CurrencyFair platform is simple to use when sending money abroad. Customers only need to indicate th...Continue

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Customers’account verification takes much longer time. There are a lot of documents that have to b...Continue

7. WORLDREMIT

WorldRemit is a money transfer company that deals with ninety different currencies across 150 countries worldwide. The services offered by WorldRemit are bank deposits, cash pickup, mobile money, top-ups of airtime and any international transfers. They have a diverse team with over 1000 employees in the world. The company’s online platform enables customers to access their services at their own comfort from their phones or computer. The company’s mission is to make it possible to send money online in a fast and easy way. They want their customers to use shortest time possible to perform their transfers and at an affordable rate.

Their introduction of a money transfer app has just made the process of money transfer much more convenient. It allows one to register an account with them then access their services. Customers can also verify their account making it simpler to conduct transactions. For clients who make payments using credit cards can also easily manage their cards through the WorldRemit account website. WorldRemit allows the use of WhatsApp to get notifications on their WorldRemit transaction status and this is even more convenient. Their services include getting regular updates on the exchange rates for specific currencies direct to your phone. This makes it much easier to make a decision on the appropriate time to make a money transfer when the exchange rates are favourable.

Pros of WorldRemit services

WorldRemit services are fast and efficient. The use of their online platform to transfer money is fast. It guarantees transactions within minutes. Family and friends will be able to receive the money sent instantly and without any hitches. Its simplicity allows their customer to perform transactions from their laptops and smart phones. The app is quick and money reaches the recipients within minutes.

WorldRemit Company is among the most affordable money transfers providers available. They offer zero fees for their first time customers and any preceding fees are at a low cost. They ensure that all their clients are aware of all the fees required before the transactions and their exchange rates are competitive. What is even more amazing is that you get discount offers for referring people to their service.

Services at WorldRemit are secure and safe for all their clients. Money is guaranteed to be transferred safely and on time. The company is also registered and licensed by government regulators making it trustworthy and reliable. Their industry leading technology helps in protecting clients’ money and ensuring timely arrival to recipients.

WorldRemit is easy to use as the features in its platform are seamless with simple instructions to follow. The platform is smooth without any hitches during the transaction process. It is simple and straight forward but in case there are any difficulties, the customer care team is always willing to help out 24hours daily.

The company has a variety of payment options for their customers. Their clients can make their payments using bank transfers, credit cards and even debit cards. Their numerous payment options makes it more convenient and attracts more customers to use their money transfers services.

WorldRemit has a wide presence in the market making it a reliable service provider. Its services are available in over 140 countries in the world. Customers are able to send money to their loved ones internationally and over 90 currencies are included in their exchange services.

The company has numerous delivery options for those recipients receiving the cash sent. Your family or friend can collect their money from their physical offices; they can also get them directly in their bank accounts via the bank transfers and direct deposit to their mobile wallets. WorldRemit also offers airtime top up services directly to their clients’ mobile phones.

Cons of WorldRemit Services

WorldRemit has a limit on the amount of money one can send. Their percentage fees also tend to increase significantly with the increase in money an individual is sending. There are way more affordable money transfer providers with better fee rates that you can use when sending large amounts of money compared to WorldRemit. Any amount larger than 6000 dollars cannot be sent via WorldRemit.

Their services have complex transfer fees. They charge customers in two ways; the normal transfer fee and an amount based on a margin on the exchange rate. The fee also depends on the currency been sent, country transferred to, the amount and the option chosen for delivery.

WorldRemit only works best with online services. It is not possible to work offline, so stable network and internet connectivity is necessary in order to perform transfers. There is no human help to assist in transfers and everything is done online. Phone use is often limited to troubleshooting which may delay the transfers and payment processes.

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Customers’WorldRemit accounts are usually deactivated. This happens due to failure to comply with ...Continue

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Money transfer services by WorldRemit are safe and efficient. Transferring of money is quite quick a...Continue

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WorldRemit services are the best especially if one wants to transfer smaller amounts of money at rea...Continue

8. MONEYGRAM

MoneyGram is an international money transfer company that was first founded in 1940 in the United States of America. It enables the transfer of money direct to the bank in a simple and fast way. MoneyGram services are currently available in more than 200 countries with their digital platform accessible in over 70 countries. The company’s services can be accessed by walking in physically to their offices, the MoneyGram app or online hence reaching millions of customers globally. Their innovation has put them at the forefront in adjusting and using technology to give their customers the best money transfer services.

MoneyGram services connect consumers and businesses all over the world. Their customers are able to conduct money transfers, pay their bills and perform money orders and process checks in specific markets. Businesses can use MoneyGram for payments and financial services. They help businesses to manage their inventory, prevent fraud activities, expand their portfolio and generate more income. MoneyGram features include prepaid card loads, mobile recharge options, cash payout for sending money and customized data feeds that enable customers to be aware o on time payment notifications. The company has employed more than 380,000 people as Moneygram agents around the world. MoneyGram is one of the largest wire transfers and strives to offer the best services in money transfer.

Pros of MoneyGram Services

MoneyGram trusted and long term customers receive rewards from the company. Their money transfers are discounted automatically and they also get to enjoy specific offers and benefits. This helps in maintaining their loyal customers since they receive a given percentage off the fee during transfers.

MoneyGram services are reliable and trustworthy due to their long term existence. Clients are able to access their money any time they need it since the company has several accounts worldwide. The existence of bank accounts, virtual accounts and mobile wallets within MoneyGram makes it possible to send money easily to the required recipients both locally and internationally.

This company’s services are fast and efficient with a maximum guarantee of safety. Customers are able to access the payment services for their bills within the time they prefer. Same day payment options are available for clients as well as prepaid debit card programs. Once money is transferred, the recipients get the cash immediately making it quick and convenient.

MoneyGram customer services at the physical locations are professional and polite. They are very efficient and are always willing to help to ensure success in all processes for their customers. They have a trustworthy reputation and take their time to educate their customers on precautions to take in order to prevent fraud and scammers.

This company has a mobile app that is easy to use and contains all their services. The app is efficient and transactions are quickly handled. MoneyGram website is also seamless with very clear and transparent fees and rates. Their online services allow the use of a debit card or bank transfer which makes it easy to transfer money internationally.

MoneyGram has no limit on the minimum amount of money to be transferred. This makes it possible to send little money between people and help in cases of emergencies. Their locations worldwide enable it to be even much more efficient as one is able to walk to their nearest kiosk and collect the cash.

MoneyGram services are convenient and help to connect with loved ones. They have a service where customers are able to send money to inmates in the US as long as they give their correct identification. It helps in the payment of several bills such as health care or child support making it more convenient. One is also able to top up their mobile airtime through MoneyGram, how easy is that?

Cons of MoneyGram services

MoneyGram fees can be relatively high as they charge for the money transfers. The availability of other affordable as well as efficient money transfer providers creates great competition to this company. Customers are charged about 20% of the money that they send. The fees also tend to vary widely based on the different countries one is sending to and where you are sending it from.

They have a tendency to block online customers’ accounts without any valid reason. Despite their long term existence, they have poor communication skills to their clients and hardly inform them if their accounts have been suspended or if there is any existing issue with the systems.

MoneyGram exchange rates are not competitive and can be quite low. This makes their services poor. Their exchange model is not easy to understand as they have mixed up everything making it difficult for the customers to trust them. Their exchange rates also fluctuate constantly and there is need to be very observant to avoid problems.

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MoneyGram services are available globally with numerous locations making it easy to transfer money i...Continue

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9. WESTERN UNION

Western Union is another incredibly well-known and popular money transfer system, especially in the United States. It is very similar to MoneyGram in several ways. Like MoneyGram, Western Union, too, has operations in over 200 different countries; however, they beat out MoneyGram on locations, boasting a huge 550,000 locations around the globe.

They also provide the same or next day delivery of transfers to most recipients, depending on which country someone is sending money to. However, unlike MoneyGram, Western Union charges extra for this rush delivery; it is not standard practice.

Western Union is also known for having quite expensive rates, as well. Sometimes, the transfer fees are no more than five dollars, depending on the amount of money being sent, but the inflation rate for the exchange rate can be over 6%.

The advantages of using Western Union, though, can potentially outweigh the disadvantages if you need to send money to a rather obscure country. Furthermore, because of the abundance of locations and the option to pick up money in person rather than via a bank transfer, Western Union is the only viable option for some people, even if they do balk at the lofty fees. Perhaps that’s why it has a 3.5 out of 5 stars rating.

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10. CURRENCIESDIRECT

Currencies Direct is a money transfer service company that was founded in 1996. It is a fast growing service provider that currently has more than twenty branches located all over the world. The company provides money transfer services through physical retail and online services. It is a global growth company that has made it possible to employ more than 500 workers globally.

Currencies Direct deals with the exchange of currencies and transfer of money both locally and overseas. They developed a mobile app that made money transfer much easier and faster while reaching more clients around the world. Their services were the highest rated in their industry by Dun & Bradstreet. Currencies Direct ensures that all the money they deal with from their clients are processed in a segregated account for safety.

Their services include the trading of over forty currencies which makes it diverse and a wider range of customers are able to use them. For security reasons, the company takes full responsibility of monitoring the customers’ money and segregation of funds in order to safeguard accounts. The services include both personal and business transfers. Businesses are able to use these services to manage their cash flow, prevent any risks involved with international currencies and maximize the opportunities available overseas. For the personal transfers, clients can buy currencies, make 24 hours money transfer and create rate alerts to help in the purchase of property overseas.

Pros of Currencies Direct

  1. Guarantees safety of clients’ money

Currencies Direct is one of the safest money service firms. They are a well recognized business that is registered by HM Revenue and Customs. They process their customers’ money via segregated bank accounts to ensure maximum safety. They do not allow the bank providers to monitor their clients’ funds at any point. This guarantees that the money is 100% safe.

  1. Simplicity in its usage

Currencies direct guarantees ease in its use. Clients are able to easily sign up for their services via a phone call or online through their app. Money transfers can be done at your own comfort using the Currencies Direct App or via their website. In case you need any assistance, they one can reach your area account manager via a phone call and set up the transfers.

  1. Affordability

There are no charges incurred for personal transfers through Currencies Direct. The customers are able to transfer their funds at zero cost. However, the business transfers contain a small fee that is absolutely customer-friendly. Their exchange rates vary based on the existing rates in the mid markets or banks and they continually update them on their website.

  1. Contains personal features

Currencies direct gives its individual customers access to the same account manager for any assistance so long as you continue transacting with them. This makes it easier to get help in case of any challenges and the personal account managers can even do the money transfers on your behalf. Customers also have multiple currency wallets that hold their balances.

  1. Offers solutions for the online businesses

With the rise of online businesses, Currencies direct offers great solutions to online sellers. The company has the multiple currency feature which allows the use of multiple currency accounts to perform money withdrawal in the major online market places. This includes; Amazon, eBay, Walmart, Overstock and many others.

  1. Transparency is guaranteed

Currencies Direct ensures that their services are transparent and that they are a trust worthy company. It is regulated and authorized by different bodies depending on the location and country. This helps to build trust when customers seek their services. There is an assurance of safety of their funds and transparent deals.

  1. Availability of a multilingual website

The company provides access to their website in several languages. This makes it easier for their clients to get information on the services offered and conduct money transfers without the hindrance of language barrier. The website has Korean, Spanish, Portuguese, Korean, Italian, French, Chinese and many more languages creating a diverse platform.

Cons of Currencies Direct

  1. Lack of information on exchange rates

Information on the exchange rate margin that the company charges is not available for customers. The customers are not aware of the exchange rates and this results to lack of transparency. Most clients would want to know what rates they are dealing with prior to performing a transfer.

  1. Lack of Currencies Direct App for businesses

The company does not have a mobile app for the business transfers. This makes it difficult for business customers to perform their own money transfers without visiting the company’s office physically or making a call to set up the transfers.

  1. Limited online money transfer

Currencies Direct allows only a minimum of 100 dollars and a maximum of 25000 dollars when performing money transfers online. This limits the cash transfer amounts by customers at their own comfort. Any excess amount will need them to make a phone call to their account manager.

VISIT CURRENCIESDIRECT.COM >>

Extra charges that may have been incurred due to failure in their software are not refunded even aft...Continue

Extra charges that may have been incurred due to failure in their software are not refunded even aft...Continue

The company has non working software that preys on customers especially small businesses. The system...Continue

Currencies Direct services are reliable with professional staff that is always ready to help in case...Continue

Their services are fast and efficient with the use of the mobile app. Their phone app has personal...Continue

Currencies Direct has excellent customer service with staff that is willing to help and are very pat...Continue

3.2 based on 6 reviews

6 thoughts on “CURRENCIES DIRECT

  1. Currencies Direct has excellent customer service with staff that is willing to help and are very patient.

    The account managers are understanding and guide their customers through the money transfer process via phone calls to ensure the process is successful.

    • Their services are fast and efficient with the use of the mobile app.

      Their phone app has personal features that are easy to use and maneuver. The availability of multiple languages in their website also a bonus making the transfers much easier.

      • Currencies Direct services are reliable with professional staff that is always ready to help in case of any hitches. Together with their compliance team they ensure that your money has been transferred safely while guiding you through the best options.

        • The company has non working software that preys on customers especially small businesses. The system sometimes re-sets the agreed charges and starts charging clients higher rates on the transfer of funds. This is unfair to their clients.

          • Extra charges that may have been incurred due to failure in their software are not refunded even after filing a complaint. They place the blame on the system and the clients still has to pay leading to lack of transparency.

            • Extra charges that may have been incurred due to failure in their software are not refunded even after filing a complaint. They place the blame on the system and the clients still has to pay leading to lack of transparency.

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