Venstar Exchange Review - Money Transfer Costs and FXcompared’s rating

2.9/5
Acceptable
Venstar
Rating based on expert reviews by FXcompared
Go to Venstar
Rating based on expert reviews by FXcompared
Last updated | June 16th, 2020

Venstar Exchange was founded in 1990 in Los Angeles and has become one of the leading money transfer companies in the US market. It continues to focus on providing customers with fully customisable and personalised services for international money transfers.

Working closely with leading banks and financial institutions around the world, Venstar Exchange provides secure online money transfer services and personalised risk management solutions for private and corporate clients. Venstar Exchange offers its clients personal consulting services, advanced technology and competitive exchange rates. Venstar Exchange is registered with FinCEN and maintains separate customer accounts.

Venstar Transfer Fees and Costs

2.2/5
Fair
Venstar
Rating based on expert reviews by FXcompared
Go to Venstar

Venstar Transfer Fees and Costs

Competitiveness on FXcompared for low value transfers e.g. sending GBP200
Venstar Exchange is not the cheapest option for low cost translations
2/5
Competitiveness on FXcompared for medium value transfers e.g. sending GBP10,000
Venstar Exchange has a competitive price for mid-sized deals.
3/5
Competitiveness on FXcompared for high value transfers e.g. sending GBP250,000
Venstar Exchange is able to provide a competitive price for large transactions.
1/5
Does FXcompared have direct access to the pricing
FXcompared receives prices directly from Venstar Exchange.
1/2
Is it possible to lock in future exchange rates
The client may buy or sell currency at a fixed rate on a specific future date.
1/1

Venstar Exchange states that since it deals with a large volume of transactions, it remains closely tied to average market rates. It publishes these rates online, but these are not necessarily the rates that the client will receive for their transfer.

To find out the tariff for a specific transfer, the client will first need to enter the transaction data. Venstar Exchange typically sends a transfer rate by email within 10 minutes.

Venstar Exchange adheres to a simple payment structure. The client does not pay a transfer fee for transfers over $5,000. Venstar Exchange may accept scheduled transfers of less than $5,000, but a fee of $15 must be paid.

In addition, since the company only works with bank transfers, the client should be prepared for any fees that the bank charges for such transfers — usually from $10 to $30. The beneficiary’s bank may also charge a fee for receiving a transfer.

Minimum transfer amounts depend on the type of transfer. However, for one-time transfers, the client will need to send at least $5,000 — a high minimum for most daily transfers.

If a client sets up regular transfers using Venstar Exchange, it will be possible to transfer less than $5,000 each time. However, just like when viewing the exact exchange rate, the client will first need to enter their transaction data to find out how much they can send below $5,000.

Venstar Exchange handles all major currency pairs in both directions, in addition to select small and exotic currencies. To find out if Venstar Exchange supports the selected currency, it is recommended that the client contacts an exchange account specialist.

Venstar Exchange offers a number of tools to help the client send money abroad:

Spot orders — these are the typical remittances at today’s exchange rates, which are usually accepted within two business days.

Forward contracts — with a 10% deposit, a client can buy or sell currency at a fixed rate on a specific date in the future. Closed forward contracts require the client to specify a specific date for their transfer, while open forward contracts allow them to select a range of days.

Venstar Exchange Review

Venstar Exchange will offer you:

  • No maximum limit
  • The ability for clients to talk with a consultant on any issue
  • Competitive exchange rates

Usability

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

Usability

Easy to understand website
Venstar Exchange site is comprehensive and easy to navigate.
1/2
Simple sign up process (number of steps)
Simple process, just create an account, enter your transfer details and make a payment
1/2
Easy to setup a transfer once registered
Convenient and simple process for setting up a transfer.
2/2
Provider offers a service that our users often sign up to
Popular among users of Fxcompared
1/2
Mobile notifications available on completed transfers
You will only receive a notification receipt via email once your transaction is complete
0/2

Venstar Exchange is easy to use — in order to use its services, the client needs to perform the following steps:

  • Go to the Venstar Exchange website.
  • Click on the type of transaction that the client wants to perform from the various types presented on the main page.
  • At the next stage, the client will be redirected to a new page where the online form will be displayed.
  • After filling out the form, the support service will provide a form to fill in by email to the specified identifier.
  • Next, the client needs to fill out the form that was sent to the email address and provide an identity card.

The customer will be able to complete the transfer by booking it through their Venstar Exchange account specialist.

Venstar Exchange claims to confirm new accounts within eight hours.

Mobile product

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

Mobile product

Easy to use mobile website
Clear and responsive website for mobile use.
1/2
Easy to use mobile app
Not available.
1/2
Can transact in the app
Venstar Exchange has no application
2/2
Range of in-app product offering
There is no application, but there is a website.
2/2
App store rating
Not available
1/2

The company does not have a mobile application, so transactions can only be made through the website. Despite this, the Venstar Exchange website is adaptive for mobile devices and easy to use.

Trustworthiness & Reliability

1.8/5
Fair
Venstar
Rating based on expert reviews by FXcompared
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Trustworthiness & Reliability

Fully licensed and authorised
Licensed by FinCEN USA.
2/4
Total amount transferred for their customers
0/3
Business revenue
Business revenue is estimated at $11.1m.
0/3
Year on year growth
7-9%
0/1
Number of employees
51
0/1
Head office location
Los Angeles, USA.
1/1
Branded search performance
Good brand search performance.
0/1
How long has the company been a partner of FXcompared
2/2
How long has the company been established?
1990
2/3
Quality of financial backers
1/2
Private or public company
Private
0/1

Venstar Exchange is a legitimate company that adheres to the anti-money laundering policies of FinCEN. Its online network is protected by several layers of hardware and software firewalls provided by industry-leading providers. A high level of encryption protects all sensitive data between the client’s computer and the Venstar Exchange network.

Business product offering

2.5/5
Acceptable
Venstar
Rating based on expert reviews by FXcompared
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Business product offering

Distinct offering for business
There is a distinct money transfer offering for businesses.
2/4
Broader product set for business
Businesses can access additional products and offers.
2/3
Specialised team to support businesses
Yes, there is specialised support for business customers.
2/2
Receivables product options
Not available.
0/1
Marketplace seller product offering
Not available.
0/2

Venstar Exchange offers solutions for a variety of enterprises with currency needs, including import and export companies, real estate companies, international business and non-governmental organisations. Venstar Exchange offers individual international currency transactions for companies at extremely competitive exchange rates, without additional fees and charges, helping the client to simplify the process at every step of the way. Venstar Exchange also offers payment solutions worldwide for international businesses, which can be tailored to a specific industry, helping corporate clients manage risks and navigate currency fluctuations.

In addition to market forecasting and advisory services, Venstar Exchange offers spot transactions, forward transactions and order fulfilment for corporate clients. For companies that are interested in white brand or trademark agreements, Venstar Exchange has an affiliate and referral programme that enables them to register their customers and deal directly with Venstar Exchange for all of their transactions. This does not require additional set-up costs for the company and allows the corporate client to transfer responsibility for all transactions to Venstar Exchange.

Product Coverage & Service

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

Product Coverage & Service

Number of sending and receiving countries
Venstar Exchange is active in more than 50 countries.
2/4
Number of available languages
The site is available in English.
1/2
Pay in options
Through a bank account, debit and credit cards, as well as online payment methods.
2/4
Pay out options
To bank accounts or box offices.
1/2
Additional services
N/A
1/2
Minimum send amount
The minimum transfer limit is comparatively high at $5,000.
2/2
Maximum send amount
Maximum transfer amount varies by country.
2/2
Speed and options for speed of transfer
One working day is typical.
1/2

Money can be sent from the US, the UK, Europe, Canada, Australia, Switzerland and New Zealand to more than 50 countries.

The company offers more than 130 currencies by bank transfer, order fare in cash, selective transfer, direct transfer and bank transfer.

Customer Feedback & Satisfaction

3.8/5
Very Good
Venstar
Rating based on expert reviews by FXcompared
Go to Venstar

Customer Feedback & Satisfaction

Customer help including onboarding
Accounts are easy to set up.
1/2
Ease of transfer
The service is generally easy and straightforward to use.
2/2
Exchange rates
Customers are generally satisfied with exchange rates.
1/2
Fees
Reasonable rates are available.
2/2
Solving issues
The team is helpful and will quickly resolve any issues.
2/2
Online/mobile experience
Website have full functionality and easy to use.
1/2
Customer service
Most reviews praise customer service.
1/2
Overall experience
Company overall rated positively in reviews.
2/2

Venstar Exchange has been accredited by the Better Business Bureau since 2006, receiving an A+ rating.

It is curious that no reviews can be found on the Better Business Bureau or Trustpilot. Few online customer reviews praise Venstar’s exchange rates, turnover and customer service.

Customer Help & Assistance

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

Customer Help & Assistance

How good is the help section on the website?
The help section is comprehensive and well organised.
1/2
Is there live online support?
N/A
0/1
Is there email support - and to customers and non customers?
Email support is available.
1/1
Is there phone support ?
Yes, phone support is offered both within and beyond the USA.
1/2
Is the company easy to contact?
Yes, email via website or app.
1/1
Are FAQs and support available in more than one language?
FAQs are available in English.
1/1
Is there an FX dealer to support customers
2/2

The company provides its services to customers from 9am to 6pm Eastern Standard Time. The client can contact Venstar Exchange at the following numbers:

  • Venstar Exchange is free in the US and Canada: 1-877-372-1971
  • Venstar Exchange outside the US and Canada: 1-310-882-5558
  • Venstar Exchange Fax: 1-310-882-5585
  • Venstar Exchange Email ID: info@venstar-exchange.com

Pricing Transparency

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

Pricing Transparency

Is there an explicit exchange rate margin in the total cost of transfer?
Included as part of the cost.
1/2
Are the fees easy to understand?
Rates vary, but are easy to understand.
2/2
Does the company combine fees and exchange rate or clearly broken out?
Fees are separated from exchange rates.
2/2
Is a real time quote available without registering?
You must register to receive prices in real time.
0/2

Venstar Exchange does not charge any hidden fees. Recipients will receive the same amount that’s indicated on the transaction page.

The company provides the sender with a receipt for payment by email, which will provide detailed information on currency conversion. In addition, the customer service will inform the customer about the received, converted and transferred funds to the recipient’s account.

Alternatives to Venstar

TorFX
Rating based on expert reviews by FXcompared
Go to TorFX
WorldFirst
Rating based on expert reviews by FXcompared
Go to WorldFirst
Currencies Direct
Rating based on expert reviews by FXcompared
Go to Currencies Direct

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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Amount Received
USD $12,889.23
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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USD $12,889.23
GBP £253.32
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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 $12,837.41
GBP £213.32
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Moneycorp

Est. 1979

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

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Amount Received
USD $12,736.37
GBP £135.32
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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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USD $12,837.41
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WorldFirst

Est. 2004

Transparency and security | Great customer feedback rating from Feefo

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USD $12,889.23
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RationalFX

Est. 2005
Established in 2005, RationalFX helps individuals and businesses achieve significant savings on international payments
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Amount Received
USD $12,843.89
GBP £218.32
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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 $12,759.69
GBP £153.32
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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 $12,849.07
GBP £222.32
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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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Amount Received
USD $12,843.89
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.
 

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Amount Received
USD $12,527.56
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 $12,466.30
No saving vs. banks

What is Venstar Exchange?

Venstar Exchange is an American company providing professional foreign exchange services to business and private clients.

Is it safe to use Venstar Exchange?

Venstar Exchange is registered and regulated by FinCEN and maintains separate client accounts.

How do Venstar Exchange transactions work?

The service begins with a quick and clear registration process.

Once the registration has been approved, the client will be assigned a special exchange specialist, who can be contacted by phone or email at any time to discuss their needs or complete the transaction.

The client will receive a detailed transaction confirmation email immediately after the completion of each transaction. As soon as the client’s funds are received to pay for the transaction, the correct amount in foreign currency will be immediately transferred to the target account that was requested.

How is money sent using Venstar Exchange?

Venstar Exchange does not charge any costs, commissions or fees of any kind for transactions. Additional beneficiary payments from one transaction will be charged in the amount of US$15 per payment.

Venstar Exchange does not control the bank charges that a customer’s bank may charge them for initiating and/or receiving a bank transfer. Usually, bank fees for sending by bank transfer range from $10 to $30.

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 (Venstar 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.