RationalFX Review - Money Transfer Costs and FXcompared’s rating

RationalFX Transfer Fees and Costs

RationalFX charges a minimum transaction fee of only £4 for currency exchange services if the transfer amount is less than £3,000. However, this fee does not apply if the recurring payment service is used.

Comparing RationalFX prices with traditional banks, the company is doing pretty well. Banks usually charge a large transaction fee and a 5% margin of the total transfer amount. RationalFX, on the other hand, as mentioned above, charges a small fixed fee of £4. Exchange rates are also much more competitive, averaging between 1.42% of the total amount converted for small values ​​(£1,000) and 1.03% for larger values ​​(£100,000).

The exact exchange rates that will be charged will be available at the time the quote is generated.

Usability

RationalFX simplifies the process of sending money abroad. Customers can complete the money transfer service in three easy steps. This includes registering a new account or simply requesting a currency quote for money transfer services.

It is worth noting that registration or just a request for a currency quote for money transfer services takes no more than three minutes. Further, no commissions or fees are attached. The last step is the actual transfer of money.

RationalFX transfers money immediately to any bank in the world. In total, about 170 countries use international money transfer services.

Mobile product

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

Trustworthiness & Reliability

RationalFX is safe and reliable. It is registered in England and Wales and is based at Canary Wharf in London.

It is also fully authorised to offer financial services by the FCA.

This is a regulated money service business provided by HM Revenue & Customs. It complies with all aspects of the fight against money laundering and has a regulatory number of 12206957. The company has FCA permission for foreign money transfers.

It should also be noted that the company is a member of SWIFT international transfers.

All client funds are safely stored in separate accounts with Barclays Bank.

Business product offering

RationalFX has a dedicated business development team whose sole purpose is to provide business clients with timely forex and currency transfer services. They help corporate clients with a variety of services, including international payments, currency hedging, wire transfers, risk management, and FX strategy and dealing.

Wire transfers with RationalFX are fast, secure and economical. The company is a member of the SWIFT network and will wire your funds to almost any bank worldwide. RationalFX charges no transfer fees or commission. It offers a variety of products to protect the best interest of its clients. A dedicated dealer will outline your FX transfer patterns to determine whether you need products for regular international payments or one-off lump sums and tailor products to your particular needs. Businesses can choose from among spot contracts, forward contracts or limit orders.

Product Coverage & Service

RationalFX supports the exchange of 48 currencies, which allows you to serve approximately 173 countries. For the most part, the company facilitates its transfers using the SWIFT banking network, which allows you to deliver funds to all corners of the globe. The disadvantage of this network is that the recipient may charge a fee that RationalFX does not control.

The RationalFX online platform does not have a minimum or maximum translation value. This is an exciting feature for affluent and commercial customers who may have faced the limitations of other online currency transfer services in the past. Today, RationalFX has over 120,000 customers and the company continues to expand.

Customer Feedback & Satisfaction

On Trustpilot, for example, RationalFX has over 700 reviews and a four-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.

It is one of the leaders in providing brokerage services among private clients, business clients and online sellers throughout the UK.

Customer Help & Assistance

The support service provides customers with assistance from English, French and Spanish telephone operators.

Support hours are in English from 8:30am to 5:30pm GMT, in French from 9:00am to 6:00pm CET, and in Spanish from 8:30am to 5:30pm GMT.

The company is headquartered in Canary Wharf, London. There is also a Spanish office in Marbella, a French office in Lille, and a Birmingham office in the UK. Customers can use the FAQs section for more information, or simply use the feedback form to send a message. Facebook and Twitter updates are also available to customers.

Pricing Transparency

RationalFX provides a professional and efficient currency exchange service. Its online platform is easy to use and suitable for making one-time transfers for almost any amount. Although the company offers advanced services such as regular payments and forward contracts, you need to configure these features by phone.

Despite the fact that RationalFX claims to be the first technological operation, it still relies on delivery vehicles through the SWIFT network. At the same time, RationalFX provides valuable service in general. Despite the limitations of its online platform, it copes with both personal and commercial translations.