People often wonder if they should use Currencies Direct or WorldFirst. Both companies offer specialist fund transfer services, providing better exchange rates than most banks. How do they rate against each other? While WorldFirst achieves 8.8 out of 10 on Trustpilot, Currencies Direct gets 9.1 out of 10. Does this mean they are equal?
Deciding between the two companies requires that you pay attention to multiple factors. The language you use to access the website is one aspect. Currencies Direct makes its website available in English, Chinese, French, Spanish, Italian, Portuguese, Swedish, and Norwegian. WorldFirst provides dedicated websites for different markets, access to which is available in English, Chinese, Japanese, and French.
This WorldFirst vs. Currencies Direct comparison will shed light on the variations:
- Exchange Rates
- Ease of Use
- Regular Overseas Payments
Fees for International Funds Transfer Service
Both Currencies Direct and WorldFirst provide transparency with the fees they charge.
- Around 90% of the fund transfers this company processes do not attract any fees.
- If you have to pay a fee for any service, you will know in advance.
- FAQs listed on the Currencies Direct website provide more information.
- A transparent pricing band applies over prevailing market rates, and it varies depending on how much you expect to transfer in a year (details in table below)
- Transfer limits might vary depending on where you live
- Businesses and online sellers are required to pay nominal fees
- You may view the latest fee structures in the table below.
WorldFirst Money Transfer Fees Table
|Annual Transfer Amount||£0-£500k / AUD$0-$750K||£500k-£5M / AUD$750k – $7.5M</>||£5M+ / AUD$7.5M|
|Real Exchange Rate Plus Fee||0.50%||0.25%||0.15%|
Ease of Use
Completing and submitting an online application with Currencies Direct or WorldFirst takes no more than a few minutes. Both companies take adequate measures to verify your identity before activating your account. You can access websites of both companies in multiple languages.
- This company lets you initiate the account opening process over the phone.
- It accepts payments via debit cards, online/phone banking transfers, direct debits, BACS, and CHAPS.
- By integrating your World Account with Xero, you may use matching currency accounts to avoid currency conversion fees when making or receiving payments.
Regular Overseas Payments
Both companies let you set up regular transfers. WorldFirst allows you to fix rates in advance, or you can set up auto transfers at prevailing rates.
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