Currency Solutions Review - Money Transfer Costs and FXcompared’s rating

3.7/5
Very Good
Currency Solutions
Rating based on expert reviews by FXcompared
Go to Currency Solutions
Rating based on expert reviews by FXcompared
Last updated | June 16th, 2020

About Currency Solutions

Currency Solutions, founded in 2003, is one of the most respected providers of services in the field of international money transfers.

Currency Solutions Limited is fully licensed and regulated to provide financial products and services by the Financial Conduct Authority (FCA). The company is registered with the tax and customs authorities and complies with anti-money laundering rules. This award-winning forex broker serves thousands of clients throughout the UK.

The company is guaranteed to be safe and secure, with fully segregated accounts for customers and business holdings in accordance with the strict legal framework established by the FCA. It also facilitates fast international money transfers at a low price.

The company focuses on customer service as the main principle of its strategy. Customers can enjoy online currency transfers 24/7 at the touch of a button. 

Currency Solutions Transfer Fees and Costs

2.8/5
Acceptable
Currency Solutions
Rating based on expert reviews by FXcompared
Go to Currency Solutions

Currency Solutions Transfer Fees and Costs

Competitiveness on FXcompared for low value transfers e.g. sending GBP200
Currency Solutions charges a £10 fee for all low value transfers
2/5
Competitiveness on FXcompared for medium value transfers e.g. sending GBP10,000
Traders can get good value on mid value transactions
3/5
Competitiveness on FXcompared for high value transfers e.g. sending GBP250,000
Currency Solutions does not offer high value transfers for online accounts
3/5
Does FXcompared have direct access to the pricing
There is no direct access available on the Currency Solution website
1/2
Is it possible to lock in future exchange rates
Only for business customers
1/1

Currency Solutions does not charge a fee for transfers. Since it focuses solely on forex, it can make a profit by offsetting the market exchange rate for a nominal margin. This margin is much less than that used by banks.

Customer reviews of Currency Solutions that comment on its commission and exchange rates are almost all favourable. In fact, it is difficult to find a negative review of the company’s ability to provide profitable exchange rates for the transactions of its customers.

Currency Solutions does not charge a transaction fee, and many reviewers praised the savings they received from lower total transaction costs. Many comments related to the company’s ability to find excellent exchange rates and to charge a lower fee for the same service than the bank. The ability to use advanced hedging strategies or purchase futures contracts to capture profitable exchange rates for future use has also been mentioned in several reviews.

Currency Solutions Review

Currency Solutions will offer you

  • Fantastic customer service
  • Safe, secure transfers
  • A variety of payment methods

Usability

3.5/5
Very Good
Currency Solutions
Rating based on expert reviews by FXcompared
Go to Currency Solutions

Usability

Easy to understand website
The website can be quite hard to navigate
2/2
Simple sign up process (number of steps)
Click the sign up button, choose business or personal, enter your details and fund your account
2/2
Easy to setup a transfer once registered
The process is very simple
2/2
Provider offers a service that our users often sign up to
Currency Solutions has a lot of positive reviews
1/2
Mobile notifications available on completed transfers
Not mobile specific ones, email only
0/2

With Currency Solutions, the customer can easily purchase currency with the click of a button. To get started, you need to click ‘Get Quote’.

It’s free to send money in the currency that the client wants. You must fill in the following information for the transfer:

  • The estimated amount of transfer

  • Your email

  • Your name

  • Your phone number

Personal registration requires the client to enter biographical information to process the request. 

For some businesses, it will be necessary to enter company data, including the country of registration, name and company number. You then need to enter personal data, as well as information about the place of residence, contact details, security information and how you found out about the services provided by Currency Solutions.

Currency Solutions provides free transfers for transactions over £3,000. There are no hidden fees, and customers are assured of the best prices. For personal translations, the customer must undergo basic registration and provide biographical data.

This is an important part of the process because it blocks personal information to ensure that only the client can access their account and process international money transfers. 

Businesses will need additional information to get started. There are safety checks and validations to meet FCA regulatory requirements.

Mobile product

3.0/5
Very Good
Currency Solutions
Rating based on expert reviews by FXcompared
Go to Currency Solutions

Mobile product

Easy to use mobile website
The mobile site is well optimised and simple to use
2/2
Easy to use mobile app
No app available
2/2
Can transact in the app
There is no app
0/2
Range of in-app product offering
No app available to traders
1/2
App store rating
No rating
1/2

Currency Solutions does not have any applications on mobile devices. However, it has a convenient and fully responsive website for mobile devices and using the site via a mobile phone is practical and convenient.

Trustworthiness & Reliability

3.9/5
Very Good
Currency Solutions
Rating based on expert reviews by FXcompared
Go to Currency Solutions

Trustworthiness & Reliability

Fully licensed and authorised
Currency Solutions is licenced and regulated by the FCA
4/4
Total amount transferred for their customers
More than £1bn since 2018
2/3
Business revenue
More than £3m in assets, but revenue is not available
2/3
Year on year growth
Half a million in yearly transfers and 99% retention rate
0/1
Number of employees
Between 50 and 200
1/1
Head office location
London, England
1/1
Branded search performance
All of the top search results point customers to the Currency Solutions website
1/1
How long has the company been a partner of FXcompared
Currency Solutions has been a partner for more than two years
2/2
How long has the company been established?
It was established in 2003
3/3
Quality of financial backers
Currency Solutions has no financial backers at the moment
1/2
Private or public company
Currency Solutions is a private company
0/1

Currency Solutions has an excellent reputation for its commitment to superb service and zero fees. At Trustpilot, it has a high customer rating.

There were also no scandals or disputes to spoil its reputation. However, there is very limited information available on Currency Solutions beyond the company’s own site and customer reviews.

Business product offering

3.3/5
Very Good
Currency Solutions
Rating based on expert reviews by FXcompared
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Business product offering

Distinct offering for business
Currency Solutions offers a specific business account
3/4
Broader product set for business
There are extra features for businesses
2/3
Specialised team to support businesses
There is a team in place for businesses
2/2
Receivables product options
Not available
1/1
Marketplace seller product offering
Not available
0/2

Currency Solutions’ products and services for business customers are specifically designed to help companies optimise their foreign transfer and payment processes, as well as helping them manage their activities in the foreign exchange markets. Currency Solutions’ risk management experts and market understanding give companies the tools they need to help them navigate the sometimes volatile movements in the forex markets. Business clients can choose one of the transfer strategies, including spot, forward and limit options, to fix the best exchange rates for their transactions and choose the time when their money will be sent.

Currency Solutions also offers businesses automated payment plans, which help companies better manage their employees’ payroll, service payments, retirement payments, vendor payments, or any other standing payments. Companies can choose and fix the exchange rate, which is the most profitable, and Currency Solutions’ systems will ensure timely payment at the rate set by the company.

Product Coverage & Service

4.0/5
Outstanding
Currency Solutions
Rating based on expert reviews by FXcompared
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Product Coverage & Service

Number of sending and receiving countries
There are more than 30 countries available for both sending and receiving
4/4
Number of available languages
Only English
1/2
Pay in options
Debit and credit cards and bank transfers
2/4
Pay out options
Debit and credit cards and bank transfers
1/2
Additional services
Currently none available
2/2
Minimum send amount
No minimum amount
2/2
Maximum send amount
£20,000 in a single transfer, £50,000 for business accounts
2/2
Speed and options for speed of transfer
Between one and three working days
2/2

Currency Solutions has over 145,000 customers worldwide. It accepts customers from all countries except the US. However, it only has support offices in the UK and Cyprus. There are no translations available on the website, indicating its UK-oriented approach.

Despite the fact that almost all the reviews from Currency Solutions were positive, the company’s customer support service was invariably mentioned as one of the best. Currency Solutions positions itself as a dedicated money transfer company that prides itself on a high level of customer support, which was confirmed by its extremely positive customer reviews. The company has always had favourable feedback for its knowledgeable, experienced and helpful support staff, who can be contacted by telephone or through the website. Several commentators noted that the ability to directly contact a specialist made them feel more confident when sending an order to transfer money.

Customer Feedback & Satisfaction

4.7/5
Exceptional
Currency Solutions
Rating based on expert reviews by FXcompared
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Customer Feedback & Satisfaction

Customer help including onboarding
The Currency Solutions platform is simple to get started
2/2
Ease of transfer
Transfers are simple to set up
2/2
Exchange rates
Currency Solutions endeavours to provide the best exchange rate possible
1/2
Fees
Fees are relatively fair
2/2
Solving issues
Currency Solutions works fast to resolve any problems
2/2
Online/mobile experience
The website is fast and very simple to navigate
2/2
Customer service
The customer service regularly gets good reviews from customers
2/2
Overall experience
Currency Solutions is given high ratings in all areas in almost all online reviews
2/2

On Trustpilot, for example, Currency Solutions has over 1,500 reviews and an incredible five-star rating.

This indicates the quality and professionalism of the broker and the availability of its FX services. Customers regularly talk about the quality of service, availability and effectiveness of these currency transfers.

This FX broker was featured in the Financial Times, in the Telegraph, and on the BBC. It boasts a high rating among private clients, business customers and online sellers throughout the UK.

Customer Help & Assistance

4.5/5
Exceptional
Currency Solutions
Rating based on expert reviews by FXcompared
Go to Currency Solutions

Customer Help & Assistance

How good is the help section on the website?
The help section is in depth and very simple to navigate
2/2
Is there live online support?
There is a live chat function available on the Currency Solutions website, for customers and non-customers
1/1
Is there email support - and to customers and non customers?
Email support is available to customers
1/1
Is there phone support ?
Phone support is available to both customers and non-customers
1/2
Is the company easy to contact?
Getting in touch with Currency Solutions is very simple for both customers and non-customers
1/1
Are FAQs and support available in more than one language?
No, the help section and live support is only available in English
1/1
Is there an FX dealer to support customers
There is and customers can choose to use the same dealer when carrying out transactions
2/2

To contact customer support, simply click on the ‘Contacts’ tab on the Currency Solutions page.

You will be redirected to the online contact form, where you can send a message to the support representatives. Offices are located in several countries and cities around the world – for example, you can contact the Dublin office, the Amsterdam office, the Paphos office and the British office (head office and corporate office) in London.

The phone number for customers in the UK is +44 203 993 1103. Support representatives are always professional, polite and efficient. You can consult the frequently asked questions section to get answers to standard questions, to expedite the solution of your customer service requests.

Pricing Transparency

3.1/5
Very Good
Currency Solutions
Rating based on expert reviews by FXcompared
Go to Currency Solutions

Pricing Transparency

Is there an explicit exchange rate margin in the total cost of transfer?
There is not
1/2
Are the fees easy to understand?
They are not fully available on the Currency Solutions website
2/2
Does the company combine fees and exchange rate or clearly broken out?
They do, but there is no information about how much that is
2/2
Is a real time quote available without registering?
Yes, potential customers can get a quote from Currency Solutions through their website
0/2

Customer reviews suggest that Currency Solutions openly displays information about transaction costs.

However, tariffs and exchange rates vary depending on the country from which you send. Currency Solutions discloses all fees in advance and fixes your exchange rate at the time of the transfer.

Alternatives to Currency Solutions

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TorFX
Rating based on expert reviews by FXcompared
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WorldFirst
Rating based on expert reviews by FXcompared
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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

TorFX

Est. 2004

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

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FXcompared Rating
Amount Received
USD $12,543.47
GBP £253.32
saved vs. banks

Moneycorp

Est. 1979

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

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Amount Received
USD $12,394.71
GBP £135.32
saved vs. banks

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 $12,463.00
GBP £189.49
saved vs. banks

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 $12,543.47
GBP £253.32
saved vs. banks

Global Reach (formerly FC Exchange)

Est. 2005

Great rates | One-off payments | Regular transfers | E-Money Institution | No fees for FXcompared customers

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Amount Received
USD $12,493.04
GBP £213.32
saved vs. banks

Western Union Business Solutions

Est. 2009

The Personal Payments team at Western Union Business Solutions look after the overseas currency requirements for private individuals.

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Amount Received
USD $12,417.40
GBP £153.32
saved vs. banks

RationalFX

Est. 2005
Established in 2005, RationalFX helps individuals and businesses achieve significant savings on international payments
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Amount Received
USD $12,499.34
GBP £218.32
saved vs. banks

WorldFirst

Est. 2004

Transparency and security | Great customer feedback rating from Feefo

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Amount Received
USD $12,541.48
GBP £251.74
saved vs. banks

Smart Currency Exchange

Est. 2004
Smart is focused on helping clients to effectively and efficiently send and receive payments internationally
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Amount Received
USD $12,499.34
GBP £218.32
saved vs. banks

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.
 

More InfoLess Info
Amount Received
USD $12,191.50
No saving 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.

More InfoLess Info
FXcompared Rating
Amount Received
USD $12,131.83
No saving vs. banks

How can I get in touch with Currency Solutions?

Currency Solutions has a telephone hotline. The client can also access support by email at any time after logging into their account.

How do Currency Solutions’ money transfers work?

Making an international transfer with Currency Solutions is simple. The client needs to log in, fill in the details of their transaction and make a payment. At this time, fees, exchange rates and any sending limit will be displayed.

Is there a Currency Solutions app?

No. The company does not have software for a mobile device, but there is a responsive website for mobile devices.

Is Currency Solutions reliable?

Currency Solutions is a reliable and legal money transfer service. It is authorised and regulated by the FCA in London. Customer reviews show a high level of satisfaction with the reliability of the service.

Why you can trust FXcompared's reviews

FXcompared's goal is to help you find the best money transfer provider for your needs. 

We have been comparing money transfer companies longer than anyone else (over 10 years) and work with the leading money transfer providers across the globe.

We have deep knowledge of the money transfer sector including our own data and intelligence arm allowing us to provide the level of in-depth reviews and analysis we have offered here.

We have had a relationship with Currency Solutions for a number of years which allows us to access their exchange rate and fees information and we have many checks in place to ensure this is accurate. Partnerships with providers like Currency Solutions help us provide our site and services free of charge to our users.

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.