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Home » Money Transfer Reviews » The Essential FC Exchange Review for Overseas Money Transfer Services

The Essential FC Exchange Review for Overseas Money Transfer Services

September 2, 2019 By iCompareFX 2 Comments

Global Reach Group is the new name of FC Exchange. New name. Same great service! Read the new and improved Global Reach Review !

Is Using FC Exchange Worth Your While?

FC Exchange fund transfer review for sending money internationally by icomparefxYou can register as a personal user from most countries in the world, and FC Exchange lets you pay for your transfer in a range of currencies. The company also provides international money remittance services to businesses and online sellers. Using the services of this company to transfer money abroad can work in your favor under various scenarios:

  • You wish to send money to a friend or family member who resides overseas
  • You want to buy a home in another country
  • You have sold property and want to transfer proceeds from the sale overseas
  • You are emigrating to a foreign country or are retiring overseas
  • You are travelling overseas to study

At a Glance – FC Exchange International Money Remittance Services

With offices in the UK, South Africa, and Cyprus, FC Exchange offers services to residents of most countries the world over. FC exchange rates are among the most competitive you will find. You do not have to worry about hidden currency exchange fees when you deal with this company.

The company accepts payments in different ways, which can vary depending on the country of your residence. You find out available options at the time of booking a trade. The company does not accept payments via cash or checks. To get a quick overview of this company, refer to the table below.

Transparent spacing image size 100x150
  •    User Rating 
    TrustPilot or Feefo User Ratings
  •    Transfer Type
  •    Coupon

  •    Fee
  •    Speed
  •    Regular Payments
  •    Mobile App
  •    Min Transfer Amount

Global Reach Group

Global-Reach-Group-Logo-150x100px-Optimized
  • 7.6/10
  • Online
    Phone Assistance

  • Best Rate Guarantee Applies
    Global Reach have a Best Rate Guaratee policy. Click the Visit Website button below for more details.
  • Visit Website
  • > $20
    When you book a transfer through Global Reach, you get to know exactly how much you will need to pay as fees in advance. Depending on the amount you transfer, the company might charge a standard telegraphic transfer fee that does not exceed £20.
  • 1 - 2 Days
  • £1,000
Visit Website

Details About FC Exchange

This FC exchange review provides intricate details, so you know what you are up against well in advance. The most important aspects are addressed here:

Supported CurrenciesFeesSpeedProductsFeatures
CurrencyCode
British PoundGBP
EuroEUR
US DollarUSD
Argentine Peso (Non Deliverable Forward)ARS
Australian DollarAUD
Bahamian DollarBSD
Bahraini DinarBHD
Barbados DollarBBD
Belize DollarBZD
Botswana PulaBWP
Brazilian Real (Non Deliverable Forward)BRL
Bulgarian LevBGN
Canadian DollarCAD
Cayman Island DollarKYD
Chilean Peso (Non Deliverable Forward)CLP
China Yuan RenminbiCNY
Colombian Peso (Non Deliverable Forward)COP
Croatian KunaHRK
Czech Republic KorunaCZK
Danish KronerDKK
East Caribbean DollarXCD
Fijian DollarFJD
Ghanaian CediGHS
Hong Kong DollarHKD
Hungarian ForintHUF
Iceland KronaISK
Indian RupeeINR
Indonesian Rupiah (Non Deliverable Forward)IDR
Israel ShekelILS
Jamaican DollarJMD
Japanese YenJPY
Jordanian DinarJOD
Kazakhstan Tenge (Non Deliverable Forward)KZT
Kenyan ShillingKES
Korean Won (Non Deliverable Forward)KRW
Kuwaiti DinarKWD
Lesotho LotiLSL
Malawi KwachaMWK
Malaysian Ringgit (Non Deliverable Forward)MYR
Mauritius RupeeMUR
Mexican PesoMXN
Netherland Antillean GuilderANG
New Zealand DollarNZD
Nigerian NairaNGN
Norwegian KroneNOK
Omani RialOMR
Pakistan RupeePKR
Peruvian Nuevo Sol (Non Deliverable Forward)PEN
Philippine Peso (Non Deliverable Forward)PHP
Polish ZlotyPLN
Qatari RialQAR
Romanian LeuRON
Russian RubleRUB
Saudi RiyalSAR
Serbia DinarRSD
Singapore DollarSGD
South African RandZAR
Sri Lankan RupeeLKR
Swaziland LilangeniSZL
Swedish KronaSEK
Swiss FrancCHF
Taiwanese Dollar (Non Deliverable Forward)TWD
Thai BahtTHB
Trinidad and Tobago DollarTTD
Tunisian DinarTND
Turkish LiraTRY
Uganda ShillingUGX
United Arab Emirates DirhamAED
Uruguayan PesoUYU
Vietnamese Dong (Non Deliverable Forward)VND
Zambian KwachaZMW
Show more
Show less

* This list is subject to change without prior notice.

FC Exchange gives you a clear indication of the currency exchange fees it charges well in advance, so there are no surprises down the road. When compared to the big banks, using the services of this company can lead to noticeable savings in fees. The fees you have to pay can depend on factors such as the destination country and the mode of payment.

In some instances, FC Exchange is unable to override charges by intermediaries. Read the contract for details. FC Exchange cannot always calculate such charges in advance.

  • If you make your payment in GBP or EUR and the recipient’s account is in the European Economic Area (EEA), the transfer should process by the following business day.
  • If you pay in a currency other than GBP or EUR and the recipient’s account is in the EEA, the processing time should be no more than four business days.
  • In the event you make a payment in a currency other than GBP or EUR and the recipient’s account is outside the EEA, FC Exchange tries to process the transfer as quickly as possible.
  • Factors over which FC Exchange has no control can have an effect on the processing time.

Personal Transfers

Once you register as a personal customer, a dedicated currency expert assists you with picking a forex solution compatible with your needs. Your options include one-off payments, forward contracts, market orders, and regular payments.

Business Transfers

FC Exchange provides different money remittance services for businesses, which include industry specific solutions. This foreign exchange broker provides businesses involved in cross-border trade some of the best rates for currency exchange. You can choose from spot contracts, forward contracts, market orders, regular payments, and mass payments.

Online Sellers

When you take your business to the global audience through eCommerce platforms such as eBay and Amazon, you can end up losing a significant percentage of your profits in currency exchange fees. FC Exchange solutions for online sellers can help minimize these. Registering for an account is easy – you complete a simple online application. Then, FC Exchange sets up different currency accounts, linked to a primary account. Once you update your online marketplaces with your new account details, you can manage your balances through the FX Exchange website.

Note: FC Exchange no longer offer Online Seller services. WorldFirst.com and OFX.com Money Transfer Services offer Online Seller service should you need them.

  • One-off payments – If you need to make a one-off payment in a hurry, FC Exchange can help you get the best possible exchange rate at the time.
  • Regular payments – The regular payment facility that FC Exchange provides simplifies the process of making payments on a regular basis – be it weekly, monthly, or annually. A minimum transfer limit of £500, or its equivalent in another currency, applies.
  • Forward contracts – A forward contract gives you the ability to fix an exchange rate in advance, eliminating worry about exchange rate fluctuations. FC Exchange lets you fix a rate for up to two years. A minimum transfer limit of £10,000 applies.
  • Market orders – You can choose from limit orders and stop loss orders, or rely on a combination. With a limit order, FC Exchange will execute your trade once the exchange rate reaches a predetermined level. A stop loss order can protect you from adverse market conditions. In this case, you set a rate that is lower than the existing market rate, which is to function as a safety net. If there is adverse movement in the market, FC Exchange executes your trade before the drop dips below the predetermined level.
  • Currency market updates – You can sign up for free daily or weekly rate alerts to take the hassle out of monitoring fluctuations in desired currency pairs. The FX Exchange website gives you access to live inter-bank rates, currency charts, and a variety of industry-related news.

FC Exchange – Click here for a Free Quote!

FC Exchange – Best Rates for Currency Exchange

This foreign exchange broker provides highly competitive rates across different currency pairs. Once you select a currency and the amount you want to transfer, an FC Exchange currency expert works in selecting the right solution for you. You can visit the FC Exchange website to view existing inter-bank rates at any time. You find out actual FC Exchange rates immediately before you finalize your transfers.

FC Exchange rates remain close to inter-bank rates at all times, which is why the company offers the best exchange rate guarantee. If your currency transfer comparison results in a provider quoting a better rate that FC Exchange, the company guarantees to beat that rate, provided it is not an off-market quote.

FC Exchange Coupons

There are no ongoing promotions or coupons offered by FC Exchange at this time.

Signing Up With FC Exchange

Registering for a personal account requires that you submit an online application, which should take around five minutes. Depending on how quickly FC Exchange verifies your details, you can begin trading on the day you submit your application. You have to provide different kinds of information to complete the application, which includes:

  • Your complete name, phone number, and email address
  • Your date of birth, place of birth, nationality, and residential address
  • The reason for currency transfer, source of funds, currency you have, currency you want, approximate amount needed, frequency of transfers, who you will make transfers to, and any other requirements

Transferring Funds Through FC Exchange

The total value of the trades you enter through FC Exchange Online at any one time cannot exceed £10,000, unless you have prior consent from the company. You can initiate your transfer online or over the phone. The company, at its discretion, may accept orders via fax or email.

You can make a personal transfer in different ways, which include one-off payments, regular payments, forward contracts, and market orders. The available modes of payment depend on the country of your residence.

Additional Information About FC Exchange

SecurityCustomer Service
  • FC Exchange is authorized to operate as an Electronic Money Institution by the UK Financial Conduct Authority (FCA).
  • FC Exchange is authorized by the Financial Services Board (FSB) in South Africa to operate as a Category 1 Financial Service Provider.
  • It holds client money in segregated bank accounts.
  • It has 1A2 Credit Rating from Dun & Bradstreet.
  • Grant Thornton UK LLP, one of the leading tax and advisory firms in the world, has functioned as the auditor of this company for over a decade.

This section of the FC exchange review rates the company well. A recent happy FC Exchange customer referred by iCompareFX had this to say about FCExchange.com currency rates and customer service:

Thanks Ben for all your effort on our behalf, you made the whole process smooth and the contact was reassuring in these times of potential scams. The amount of money may not of been a lot in the scheme of things but it was all we have. If we have the option we will use your service again it saved us over AUD $20,000.00 compared to the Bank. PB & TB

You can get in touch with a company representative in different ways, which include over the phone, via online chat, and through email. The table below provides contact details according to specific locations.

RegionPhone NumberEmail AddressHours of Operation
The UK44 (0)20 7989 0000 - 44 (0)1872 309895info@fcexchange.comMon to Thu 7.30am to 7pm - Fri 07.30am to 6pm
Cyprus357 2693 3164cyprus@fcexchange.comMon to Thu 9.30am to 9pm - Fri 07.30am to 8pm
South Africa27 (0)21 100 3410southafrica@fcexchange.comMon to Thu 8.30am to 8pm - Fri 08.30am to 7pm
Go to top

Learn More

A currency transfer comparison gives you easy means to pick a service provider based on your individual requirements. While FC Exchange deserves your attention, comparing it with other players in the field is always recommended.

  • Compare FC Exchange Vs. TransferWise
  • Compare FC Exchange with CurrencyFair
  • Compare FC Exchange and OFX
  • FC Exchange not available in your region? Take a look at FC Exchange competitors.

FX Exchange Review Updates

  • 4th April 2017: FC Exchange no longer offering Online Seller features and has been removed from this comparison.
  • 8th June 2017: Added recent positive FC Exchange customer feedback quote.
  • 2nd March 2019: Rewording updates and added a few links.
  • 15th August 2019: Global Reach Group is the new name for FC Exchange. Comparison tables are updated and a pop up to direct visitors to Global Reach Group review article added.
Show more
Show less
FC Exchange Reviews
  • Account Setup
  • Transaction Fees
  • Ease of Use
  • Security
  • Customer Service
4.5

Summary

FC Exchange has evolved over time, using technology to provide its customers with quick and reliable ways to transfer money abroad. The company provides some of the best rates for currency exchange, and using its services can lead to savings in fees as well. You can register with this company from most countries in the world. It supports a range of currencies, so there is a good chance you will not have to look elsewhere. Wondering if you should use this company for your next FX money transfer?

Headquartered in London, FC Exchange began operations over a decade ago. Now, it has satellite offices in Hertfordshire, Cornwall, Cyprus, and South Africa. While this foreign exchange broker provides great rates for currency exchange, it also backs its offerings with high levels of customer satisfaction.

From inception, this company has operated successfully without incurring any debt. It continues to build long-term relationships with clients based on individual needs. It provides services to individuals and businesses alike, and even operates a dedicated website for online sellers in China. Clients of this foreign exchange broker use its services for one-off purchases and for long-term solutions.

FC Exchange has served over 25,000 clients and processed approximately £5 billion in transactions. Every year, it enables thousands of clients to transfer money abroad in a quick and safe manner. When you deal with this company, you have a single point of contact.

Like other prominent FX money transfer companies, FC Exchange offers bank-beating rates. The company’s best rate guarantee shows how confident it is in the rates it offers. The currency exchange fees this company charges can lead to further savings.

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Filed Under: Money Transfer Reviews Tagged With: FC Exchange, Global Money Transfer, Review Money Transfer

Comments

  1. Juan Carlos Cepeda says

    September 28, 2018 at 9:34 pm

    I am looking the copareFX for FC Exchange.
    Please tell me what does mean “Non Deliverable Forward”. I am looking to do a transfer from Chile to USA.
    Thank you

    Reply
    • iCompareFX says

      October 8, 2018 at 4:59 am

      Hi Juan,

      Non Deliverable Forwards(NDFs) are a type of forward contract that some companies use to hedge their foreign exchange risk. They are called ‘Non Deliverable’ because the notional amount never changes hands. Forward Contracts are used to lock in an exchange rate for the future.

      If you’re looking for a personal transfer from Chile to the USA, then you probably won’t require NDFs. A standard Forward Contract might be useful to someone who was looking to transfer funds at some time in the future.

      Best regards,
      The iCompareFX Team

      Reply

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