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

4.2/5
Outstanding
Global Reach (formerly FC Exchange)
Rating based on expert reviews by FXcompared
Go to Global Reach (formerly FC Exchange)
Rating based on expert reviews by FXcompared
Last updated | June 16th, 2020

About Global Reach

Global Reach 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. Global Reach does not charge a fee or commission and prides itself on the transparency of its services.

Global Reach 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.

Global Reach (formerly FC Exchange for its consumer business) 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. To date, Global Reach has transferred over £2.5bn to its customers.

Global Reach (formerly FC Exchange) Transfer Fees and Costs

3.1/5
Very Good
Global Reach (formerly FC Exchange)
Rating based on expert reviews by FXcompared
Go to Global Reach (formerly FC Exchange)

Global Reach (formerly FC Exchange) 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

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.

Global Reach Review

Global Reach 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
Global Reach (formerly FC Exchange)
Rating based on expert reviews by FXcompared
Go to Global Reach (formerly FC Exchange)

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 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

5.0/5
Exceptional
Global Reach (formerly FC Exchange)
Rating based on expert reviews by FXcompared
Go to Global Reach (formerly FC Exchange)

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

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

Trustworthiness & Reliability

4.8/5
Exceptional
Global Reach (formerly FC Exchange)
Rating based on expert reviews by FXcompared
Go to Global Reach (formerly FC Exchange)

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

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

2.9/5
Acceptable
Global Reach (formerly FC Exchange)
Rating based on expert reviews by FXcompared
Go to Global Reach (formerly FC Exchange)

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

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

4.0/5
Outstanding
Global Reach (formerly FC Exchange)
Rating based on expert reviews by FXcompared
Go to Global Reach (formerly FC Exchange)

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

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

5.0/5
Exceptional
Global Reach (formerly FC Exchange)
Rating based on expert reviews by FXcompared
Go to Global Reach (formerly FC Exchange)

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

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

4.0/5
Outstanding
Global Reach (formerly FC Exchange)
Rating based on expert reviews by FXcompared
Go to Global Reach (formerly FC Exchange)

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, 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

4.4/5
Outstanding
Global Reach (formerly FC Exchange)
Rating based on expert reviews by FXcompared
Go to Global Reach (formerly FC Exchange)

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

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’.

Alternatives to Global Reach (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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Other International Money Transfer Quotes

Moneycorp

Est. 1979

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

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Amount Received
USD $12,901.55
GBP £135.32
saved vs. banks

TorFX

Est. 2004

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

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FXcompared Rating
Amount Received
USD $13,056.39
GBP £253.32
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 $13,056.39
GBP £253.32
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 $12,604.00
No saving vs. banks

WorldFirst

Est. 2004

Transparency and security | Great customer feedback rating from Feefo

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Amount Received
USD $12,499.69
No saving 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 $12,925.17
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 $13,010.46
GBP £218.32
saved vs. banks

Currency Solutions

Est. 2003

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

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Amount Received
USD $13,015.71
GBP £222.32
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 $13,010.46
GBP £218.32
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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.
 

More InfoLess Info
Amount Received
USD $12,690.03
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.

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FXcompared Rating
Amount Received
USD $12,091.41
No saving vs. banks

How can I get in touch with Global Reach?

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

How do Global Reach’s money transfers work?

Makingan international transfer with Global Reach 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 Global Reach app?

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

Is Global Reach reliable?

GlobalReach is a legitimate money transfer service that is regulated by the FCA inLondon. Customer reviews show a high level of satisfaction with the reliabilityof 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.