Corpay - Money Transfer Costs and FXcompared’s rating

4.2/5
Outstanding
Corpay^
Rating based on expert reviews by FXcompared
Go to Corpay^
Rating based on expert reviews by FXcompared
Last updated | March 1st, 2024

About Corpay

Corpay is based in London but also has offices in several other countries around the world. It was founded in 2005 by specialists with experience in accounting, foreign exchange markets and advertising. It is regulated by the Financial Conduct Authority (FCA), maintains separate and secure accounts for customer accounts, and has an A2 credit rating with Dun & Bradstreet. Corpay does not charge a fee or commission and prides itself on the transparency of its services.

Corpay is the corporate payments division of Fleetcor, which announced it would be rebranding the entire company as Corpay in 2024. At the start of 2023, Corpay completed its acquisition of UK-based cross-border payments provider Global Reach Group. 

Corpay provides hedging tools for both individuals and business clients. Businesses can also benefit from the company’s bulk payment solutions. Individuals can use their services to send money abroad for almost any legal reason. Its online platform provides you with round-the-clock access to current rates for various currency pairs.

Corpay provides foreign exchange and international payment solutions for customers around the world. Each year, it helps a wide range of companies and individuals to quickly and safely transfer money abroad. In 2023, the corporate payments segment of Fleetcor saw a 27.5% rise in revenues to $981m.

Amount Received £ 10,000.00
£ 172.17 Average money saved. Saving vs. Banks
EUR11,739.79
USDn/a
CAD17,171.87
AUD19,284.42

Corpay^ Transfer Fees and Costs

2.5/5
Acceptable
Corpay^
Rating based on expert reviews by FXcompared
Go to Corpay^

Corpay^ Transfer Fees and Costs

Competitiveness on FXcompared for low value transfers e.g. sending GBP200
4/5
Competitiveness on FXcompared for medium value transfers e.g. sending GBP10,000
4/5
Competitiveness on FXcompared for high value transfers e.g. sending GBP250,000
2/5
Does FXcompared have direct access to the pricing
1/2
Is it possible to lock in future exchange rates
0/1

Corpay charges £10 (or the equivalent in currency used) for a fixed transfer fee. Customers referred to by MoneyTransferComparison.com are entitled to an exclusive promotion and their fees are completely cancelled.

Corpay offers one of the best exchange rate guarantee. This means that if someone finds the best rate for the same period of time, the company will match this rate with no questions asked. This is the strongest indicator of really low rates!

Customers do not pay any fixed fees, and the rates offered are among the best in the industry.

Global Reach Review

Corpay will offer you

  • Excellent exchange rates
  • Safe and secure accounts
  • Expert insights and support

Customers can open an account in minutes online, or over the phone with the support of their personal account manager.

Usability

5.0/5
Exceptional
Corpay^
Rating based on expert reviews by FXcompared
Go to Corpay^

Usability

Easy to understand website
2/2
Simple sign up process (number of steps)
2/2
Easy to setup a transfer once registered
2/2
Provider offers a service that our users often sign up to
2/2
Mobile notifications available on completed transfers
2/2

To start using the Corpay services, the client must first open an account. To open an account, you will need to provide your name, contact information and translation requirements.

After the client has provided their basic data, it is necessary to enter the data on the transfer, the amount that is sent, the currency that is transferred, and where the money will be sent.

It is also possible to make a one-time transfer or use a forward contract or limit order to obtain the desired exchange rate.

There is then the opportunity to familiarise yourself with the exchange rate and the commission that will be applied to the transaction. If the customer is satisfied with the full transaction cost, then the money will be transferred.

Mobile product

5.0/5
Exceptional
Corpay^
Rating based on expert reviews by FXcompared
Go to Corpay^

Mobile product

Easy to use mobile website
2/2
Easy to use mobile app
2/2
Can transact in the app
2/2
Range of in-app product offering
2/2
App store rating
2/2

Corpay does not have mobile applications. However, it has a convenient site that is adapted for mobile devices.

Trustworthiness & Reliability

4.5/5
Exceptional
Corpay^
Rating based on expert reviews by FXcompared
Go to Corpay^

Trustworthiness & Reliability

Fully licensed and authorised
4/4
Total amount transferred for their customers
3/3
Business revenue
3/3
Year on year growth
1/1
Number of employees
1/1
Head office location
1/1
Branded search performance
1/1
How long has the company been a partner of FXcompared
2/2
How long has the company been established?
3/3
Quality of financial backers
2/2
Private or public company
0/1

Business product offering

2.7/5
Acceptable
Corpay^
Rating based on expert reviews by FXcompared
Go to Corpay^

Business product offering

Distinct offering for business
2/4
Broader product set for business
2/3
Specialised team to support businesses
2/2
Receivables product options
0/1
Marketplace seller product offering
1/2

Corpay serves many corporate clients, from small to medium-sized businesses, to transnational corporations. Since it buys currencies at wholesale rates, Corpay can offer better exchange rates and faster transfers than banks and other institutions. Each client is assigned a special broker, who acts as a single-contact person, offering advice and developing solutions to best meet the needs of each business.

Corpay makes international payments efficient and easy, regardless of whether one-time transfers or regular transactions are made. Companies also have access to Corpay regular payment options. For companies that are vulnerable to fluctuations in the currency exchange market, Corpay offers risk and risk management tools. It offers various ways to transfer currencies, including spot exchanges, forward contracts, stop loss and limit orders.

It also helps corporate clients with forwarding contracts and hedging, which can help companies achieve long-term stability. Small and medium-sized enterprises that make regular payments to employees abroad or make multiple money transfers can benefit from massive payments through Corpay, higher bank rates and cost savings due to economies of scale.

Product Coverage & Service

4.1/5
Outstanding
Corpay^
Rating based on expert reviews by FXcompared
Go to Corpay^

Product Coverage & Service

Number of sending and receiving countries
3/4
Number of available languages
2/2
Pay in options
3/4
Pay out options
1/2
Additional services
1/2
Minimum send amount
2/2
Maximum send amount
2/2
Speed and options for speed of transfer
2/2

Corpay is a service-oriented company, and more than 90% of customers left excellent feedback online.

It has a highly personalised service and emphasises the fact that it is pleased to offer individual solutions for any request. Corpay is globally developed, offering 145 types of currencies.

It is also very international in terms of currency supply. Corpay offers some of the most impressive deals in more than 140 currencies.

The disadvantage of Corpay Partners is the lack of offices and settlements with local banks around the world. This means that translations are likely to be slower and more expensive for customers outside the UK. It should also be noted that Corpay does not accept US customers.

Customer Feedback & Satisfaction

5.0/5
Exceptional
Corpay^
Rating based on expert reviews by FXcompared
Go to Corpay^

Customer Feedback & Satisfaction

Customer help including onboarding
2/2
Ease of transfer
2/2
Exchange rates
2/2
Fees
2/2
Solving issues
2/2
Online/mobile experience
2/2
Customer service
2/2
Overall experience
2/2

Customer Help & Assistance

4.3/5
Outstanding
Corpay^
Rating based on expert reviews by FXcompared
Go to Corpay^

Customer Help & Assistance

How good is the help section on the website?
2/2
Is there live online support?
1/1
Is there email support - and to customers and non customers?
1/1
Is there phone support ?
2/2
Is the company easy to contact?
1/1
Are FAQs and support available in more than one language?
1/1
Is there an FX dealer to support customers
0/2

In addition to its headquarters in London, UK, Corpay has several offices in the US, Ireland, Spain, Italy, Sweden, Australia and Singapore. This is the only way to ensure that such a company can truly offer access to its services to customers around the world.

Also, clients can contact the Corpay hotline by phone or email.

Judging by the reviews, many Corpay customers are satisfied with the level of service of the hotline.

Pricing Transparency

4.4/5
Outstanding
Corpay^
Rating based on expert reviews by FXcompared
Go to Corpay^

Pricing Transparency

Is there an explicit exchange rate margin in the total cost of transfer?
1/2
Are the fees easy to understand?
2/2
Does the company combine fees and exchange rate or clearly broken out?
2/2
Is a real time quote available without registering?
2/2

Corpay adheres to a transparent pricing policy. If another provider of currency quotes sets the exchange rate for the client below Corpay, then Corpay will guarantee lower offers using the ‘Best Exchange Rate Guarantee’ – the customer is advised to contact Corpay by phone.

However, it should be noted that this applies only to personal transfers, not corporate transactions.

All quotes from other suppliers should be verifiable, friendly, detail all amounts associated with this, as well as any transaction-related fees that may affect the ‘effective exchange rate’ – i.e. the net amount in real terms that the customer receives. Due to the fact that the company buys currency at wholesale prices, this makes it possible to provide a ‘Best Exchange Rate Guarantee’.

Alternatives to Corpay (formerly FC Exchange)

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TorFX
Rating based on expert reviews by FXcompared
Go to TorFX
WorldFirst
Rating based on expert reviews by FXcompared
Go to WorldFirst
OFX (UK)
Rating based on expert reviews by FXcompared
Go to OFX (UK)

Compare Other Currency Rates

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Compare to quote from your bank >

Other International Money Transfer Quotes

OFX (UK)

Est. 1998

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

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Amount Received
USD $12,343.40
GBP £213.32
saved vs. banks

TorFX

Est. 2004

Excellent exchange rates | No transfer fees | Thousands of 5 star reviews 

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Amount Received
USD $12,393.22
GBP £253.32
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Currencies Direct

Est. 1996

Great exchange rates | Specialist services | No added fees, 24/7 transfers | Safe and secure

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Amount Received
USD $12,393.22
GBP £253.32
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Currency Solutions

Est. 2003

Currency exchange specialists ranking No.1 on Trustpilot for the past two years

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Amount Received
USD $12,330.95
GBP £203.32
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Smart Currency Exchange

Est. 2004
Smart is focused on helping clients to effectively and efficiently send and receive payments internationally
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USD $12,330.95
GBP £203.32
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Rates From The Average UK High Street Bank

Est. 1934

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 month. It includes all major and small banks. Lloyds, Barclays, HSBC, Santander, NatWest, RBS, Coutts, Handelsbanken, Metro bank and more - tracked every month. We obtain our rates via our IMTI platform.
 

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Amount Received
USD $12,045.47
No saving vs. banks

Moneycorp

Est. 1979

One-off payments | Regular payments | Great rates | Safeguarded customer funds

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Amount Received
USD $12,181.48
GBP £83.32
saved vs. banks

PayPal

Est. 1998

Shop with PayPal and you’ll still earn your points, airmiles and cashback. Fees are shown as part of the overall exchange rate.

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FXcompared Rating
Amount Received
USD $11,957.28
No saving vs. banks

How can I get in touch with Corpay?

Youcan get in touch with Corpay by using the telephone hotline or via email.

How do Corpay’s money transfers work?

Making an international transfer with Corpay is very simple. You must log in, fill out the details of the transaction, and make a payment. At this time, fees, exchange rates and any sending limit will be displayed.

Is there a Corpay app?

No. Corpay does not have mobile applications. However, it has a convenientsite that is adapted for mobile devices.

Is Corpay reliable?

Corpay is a legitimate money transfer service that is regulated by the FCA in London. Customer reviews show a high level of satisfaction with the reliability of the service.

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Why you can trust FXcompared's reviews

FXcompared's mission is to help you (and thousands of others each day) find the best providers for your money transfers.

We do that by providing real-time comparison of exchange rates and fees (you can use the form below to make a comparison) and by writing in-depth reviews about money transfer providers.

We have partnerships with many money transfer providers (Global Reach (formerly FC Exchange) included), which help us get access to their exchange rate and fees information (which we always check for accuracy). Those partnerships help us support our activity and offer our service for free.

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.