UPDATE: In 2021, AFEX was acquired by Corpay (formerly FLEETCOR), and has since been renamed Corpay Cross-Border Solutions. Head to our company reviews section to find out more about Corpay.
AFEX, which stands for Associated Foreign Exchange, is a leading private, non-bank provider of international money transfer and risk management solutions. They provide foreign exchange products for businesses and individuals and have several offices around the world, from North America, to Asia, the Middle East, and Europe. AFEX is registered with FinCEN and the FCA and regulated by the IRS.
AFEX’s foreign exchange experts help a variety of commercial clients minimise the risks involved in currency transfers. They currently have more than 24,000 active business clients, including financial and educational institutions, import and export companies, small businesses, and large, multinational corporations.
AFEX helps small to medium-sized businesses with risk management solutions, insulating businesses from fluctuations in the currency markets with forward contracts, which lock in favorable exchange rates for purchases to be made in the future, and rate orders, which allow businesses to choose a target rate at which to buy or sell. They also help small to medium-sized businesses with FX payments in the form of spot transactions, which businesses use to buy or sell currency immediately, and with online FX payments through AFEXDirect.
For large, multi-national corporations, AFEX offers corporate and treasury solutions taking a customized approach to risk management. Similar to their offerings for small to medium-sized businesses, AFEX helps large corporations with risk management in the form of forward contracts and rate orders. For global payments, corporate clients have access to AFEXDirect, their online platform for managing global payments, and receive assistance with spot transactions when transfers need to happen immediately.
Founded in 1979, AFEX was a pioneer in the international money transfer space and has been growing continuously ever since. Recognized as the world’s fastest growing top tier provider of international money transfers and risk management solutions, the company has expanded its reach worldwide and anticipates further growth in the years to come as they open new offices in Europe and Asia.
OFX (previously UKForex in the UK), provides secure and speedy international money transfers to over 300,000 people in 55 currencies at better-than-bank rates
Great exchange rates | Specialist services | No added fees, 24/7 transfers | Safe and secure
Excellent exchange rates | No transfer fees | Thousands of 5 star reviews
Great rates | One-off payments | Regular transfers | E-Money Institution | No fees for FXcompared customers
One-off payments | Regular payments | Great rates | Safeguarded customer funds
Currency exchange specialists ranking No.1 on Trustpilot for the past two years
Banks are the most expensive way to do an international money transfer, the quotes from the providers above show you the typical savings that can be made. All providers on FXcompared.com are regulated in the UK by the FCA, in the USA by FinCEN, In Canada SSC and Australia, ASIC.
We check all rates regularly and this quote is an actual quote of the average from UK banks for this past month. It includes all major and some smaller banks. Bank of Scotland, Barclays, Co-operative Bank, HSBC UK, Halifax, Lloyds Bank, Monzo, NatWest, Nationwide, Santander GB, Starling Bank- tracked every month. For more information on how the price comparisons are calculated, see our IMTI page.
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FXcompared.com is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended. FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.
