FrontierPay (previously known as The FX Firm) or WorldFirst – does one of these overseas fund transfer companies deserve your attention more than the other? Answering this question requires that you address several intricacies after taking your individual requirements into account.
To find out what customers of this company have to say about their services, consider taking the WorldFirst vs. FrontierPay comparison to Trustpilot, a platform where thousands of users rate online businesses. While WorldFirst averages at 8.5 out of 10, FrontierPay rates slightly better, at 9.6 out of 10. However, this is not to suggest you should choose FrontierPay without paying attention to other aspects.
Whether you choose WorldFirst or FrontierPay, you will be better off than using the services of most banks. To help you pick between the two, this comparison is divided into these categories:
- Exchange Rates
- Ease of Use
- Regular Overseas Payments
International Money Remittance Fees
Using WorldFirst or FrontierPay can lead to further savings compared to banks if you consider the fees you end up paying.
- Frontierpay charges no fees for transfers up to a predetermined limit.
- A transparent pricing band (as shown in the table below) applies over existing mid-market/interbank rates, which depends on your expected annual transfer amount.
- Your country of residence might affect sending limits.
- Nominal fees apply for businesses and online sellers.
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
This FrontierPay vs. WorldFirst comparison favors the latter if you want website access in a foreign language. To register with either company, you have to submit an online application. Once the verification of your details is complete, you can begin transferring funds.
- FrontierPay gives its customers the ability to initiate transfers online or over the phone.
- All registered users with FrontierPay get access to personal dealers, who they can contact at any time.
- While FrontierPay does not provide apps for mobile devices yet, its website scales to the screen size of your mobile device automatically.
- Access to FrontierPay website is limited to English.
- You can apply for a WorldFirst account online or over the phone.
- Modes of payment include online and phone banking transfers, debit cards, direct debits, CHAPS, and BACS.
- You may connect your World Account multi-currency accounts with Xero – when you use matching currency accounts to reconcile payments, you avoid currency conversion fees.
- The company provides apps for iOS and Android.
- Depending on the WorldFirst website you use, you can get access in English, French, Chinese, and Japanese.
Regular Overseas Payments
You can use the services of Frontierpay or WorldFirst to set up scheduled transfers according to your needs.
- Get more insights from FrontierPay Review.