Global Reach Review - Money Transfer Costs and FXcompared’s rating

Global Reach (formerly FC Exchange) Transfer Fees and Costs

Global Reach 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.

Global Reach 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.

Usability

To start using the Global Reach 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

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

Trustworthiness & Reliability

Global Reach Group Limited (company number 09907831) is a holding company of Global Reach Partners Limited (company number 04344764), Global Reach Markets Limited (company number 07026070) and Foreign Currency Exchange Limited (company number 5452483). All companies are registered in England with their registered office on 2nd Floor, Woolgate Exchange, 25 Basinghall Street, London, EC2V 5HA.

Global Reach Group is a highly reliable money transfer company. In fact, it is undoubtedly one of the top 10 companies of its kind in the UK. It has been in business longer than the vast majority of other foreign exchange brokers on the market, moving large volumes abroad each year while maintaining excellent feedback in all areas.

With the acquisition of FC Exchange, the company is growing at a staggering pace and is expanding its presence in the private customer sector. It is less internationalised than some of the industry’s titans, with fewer offices abroad and fewer controlling bodies, and it is unable to attract US customers. However, it is still at the top when it comes to reliability.

Business product offering

Global Reach serves many corporate clients, from small to medium-sized businesses, to transnational corporations. Since it buys currencies at wholesale rates, Global Reach 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.

Global Reach makes international payments efficient and easy, regardless of whether one-time transfers or regular transactions are made. Companies also have access to Global Reach’s regular payment options. For companies that are vulnerable to fluctuations in the currency exchange market, Global Reach 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 Global Reach, higher bank rates and cost savings due to economies of scale.

Product Coverage & Service

Global Reach 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. Global Reach is globally developed, offering 138 types of currencies.

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

The disadvantage of Global Reach 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 Global Reach does not accept US customers.

Customer Feedback & Satisfaction

The company boasts more than 1,000 online reviews from its customers through Global Reach Partners and FC Exchange, the two companies forming the new Global Reach Group. You can find 500 Global Reach Partners reviews and 500 FC Exchange reviews on Trustpilot, over 100 Review Centre reviews, and more than two dozen reviews on Facebook. This is a very impressive amount, which indicates that it is a large and respected company. On each review platform, whether under Global Reach or FC Exchange, customer satisfaction is 95%. Consequently, less than 5% of online company reviews are complaints.
 

Customer Help & Assistance

In addition to its headquarters in London, Global Reach has several offices in the UK, Cyprus and South Africa. 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 Global Reach hotline by phone or email.

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

Pricing Transparency

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