Who May Benefit By Using Global Reach?
You may register with Global Reach from most countries the world over, unless the country you live in is affected by international sanctions. Once you register, you may use the company’s services to transfer money in over 140 currencies.
Global Reach provides hedging tools for individual and business customers alike. Businesses may also benefit by using the company’s mass payments solutions. Individuals may use its services to send money overseas for practically any legitimate reason. Its online platform gives you round-the-clock access to live rates for various currency pairs.
The company follows a transparent pricing policy and offers a best rate guarantee.
- User Rating
- Transfer Type
- Regular Payments
- Mobile App
- Min Transfer Amount
At a Glance – Global Reach Money Transfer Services
Global Reach is headquartered in the UK and has been around since 2002. It acquired FC Exchange, a UK-based overseas money transfer company, in 2018. You get access to live quotes from the moment you sign up as a customer. All customers also get access to personal currency specialists. By offering personalised service, the company aims to provide tailor-made forex solutions to its customers. It relies on different types of technologies to make for a safe and efficient money transfer process.
Continue reading this Global Reach review to get more valuable insight about this company.
Details About Global Reach
Not all Global Reach money transfer reviews delve into the intricacies about how this company operates and its offerings. Fortunately, this one addresses every aspect that requires your attention. For instance, what good would come of your efforts if you find out much later that the company does not provide services in your country of residence?
Global Reach Currency Exchange Fees
When you book a transfer through Global Reach, you get to know exactly how much you will need to pay as fees in advance. Neither private clients nor corporate clients pay any ongoing account maintenance fees. Depending on the amount you transfer, the company might charge a standard telegraphic minimum transfer fee that does not exceed £20.
Supported Currencies and Countries
Global Reach lets its customers transfer funds in more than 140 currencies. It lets you sign up and send money or receive international payment from many countries around the world. When you begin the online account opening process, you get to select your country of residence from a drop-down menu. If you select a country in which Global Reach does not provide its services, you get a notification immediately. What helps is that this is the first question you need to answer when completing the online form. Some of the countries on its restricted list include:
- North Korea
- South Sudan
Turnaround times depend on the currencies involved as well as banking holidays. While some currencies may arrive on the same day, it might take one to two days as well. Depending on the currency you wish to trade and its cut off time, you may request for same day payments.
As a personal client, you get access to a currency specialist who helps you select a forex solution that suits you best. You get to choose from spot contracts, forward contracts, and stop-loss/limit orders.
Heading alternatives for business clients come in the form of spot transactions, forward contracts, and market orders. The company’s institutional team specializes in tailoring products for clients across various asset classes such as real estate, infrastructure, private debt, and private equity.
Businesses may use the company’s proprietary treasury management platform as well as its integrated API solutions. The Global Reach Multipay system offers multiple solutions for making mass payments. You may also look forward to automatic hedging of micro exposure.
- Spot transfers. If you wish to carry out a transfer as soon as possible, a spot transfer is the way to go.
- Forward contracts. Not many Global Reach reviews highlight the fact that the company lets you use its forward contracts to lock in exchange rates for up to two years. This gives you the ability to protect yourself from any negative currency rate movements.
- Stop-loss/limit orders. A stop-loss order gives you the ability to set a maximum budget rate, and Global Reach executes the trade automatically once the rate reaches that level. With a limit order, you get to target better than existing rates, and the company executes your trade once the rate reaches the desired level.
- Currency market updates. You may sign up for free weekly market updates. The online knowledge centre provides currency forecasts, guides, as well as economic updates. You also get to view live FX rates of various currency pairs online.
- Option products. The company provides an array of Option products through Global Reach Markets, its completely regulated subsidiary.
Global Reach Currency Exchange Rates
Global Reach charges a nominal spread over existing interbank rates. It is confident of offering highly competitive foreign exchange rates, which is why it has a Best Exchange Rate Guarantee in place.
Global Reach Currency Exchange Rates
As of now, there are on ongoing coupons or offers provided by Global Reach.
Signing Up With Global Reach
Opening an account with Global Reach is fairly simple. Both, individuals and businesses, may register online. To sign up as an individual, the information you need to provide includes:
- The country of your residence
- Your nationality
- Your complete name
- Your job title
- Your date of birth
- Your email address
- Your mailing address
- Your phone number
- The reason for opening an account
- The amount you plan to transfer in the following 12 months
- The currencies you have and need
- The destination country
How Do You Set Up a Transfer With Global Reach?
Transferring money is relatively quick and easy. You may carry out your first transfer once the account verification process is complete. To send money online in the first instance, you need to login to the Global Reach website. Then:
- Select the currency you wish to pay in and the currency you want the recipient to receive
- Enter the transfer amount
- Determine if you find the exchange rate acceptable and book your trade
- Provide the recipient’s bank account details
- After booking the trade, you get a confirmation email with the company’s bank account details
- Pay for the transfer
- Once the company receives your payment, it processes the transfer
Additional Information About Global Reach
- Global Reach is registered with the UK Financial Conduct Authority (FCA)
- Global Reach Group Limited company number 09907831 is the holding company of Global Reach Partners Limited company number 04344764
- It is supervised by Her Majesty’s Revenue and Customs (HMRC)
- It holds client funds in segregated bank accounts
You may find answers to most commonly asked questions about Global Reach online. If you need to contact a company representative, you may do so over the phone, via email, or through social media platforms such as Twitter and Facebook. Contact details for Global Reach are listed in the corresponding table.
|Address||Phone Number||Email Address||Hours of Operation|
|The UK||2nd Floor, Woolgate Exchange, 25 Basinghall Street, London, EC2V 5HA||Freephone: 0808 1596 205 Tel: +44 (0)20 3465 8200||hello@ globalreachgroup.com||Mon to Thu, 7am to 6pm Fri, 7am to 5pm|
|Gateway Business Centre, Wilson Way, Redruth, Cornwall TR15 3RQ||Tel: +357 2693 3164||personal@ globalreachgroup.com||Mon to Thu, 7:30am to 7pm Fri 7:30am to 6pm|
|Cyprus||Afentico Anna Office 303, Cr. Tapeleniou & Korytsas Street, Paphos 8010||+357 2693 3164||personal@ globalreachgroup||Mon to Thu, 9:30am to 9pm Fri, 7:30am to 8pm|
|South Africa||The Watershed 17 Dock Road, The V&A Waterfront, Cape Town 8002||+27 (0)21 100 3410||southafrica @globalreachgroup.com||Mon to Thu, 8:30am to 8pm Fri 8:30am to 7pm|
|The Netherlands||Strawinskylaan 4117 Amsterdam, AM 1077 ZX||+31 202 993 963||netherlands@ globalreachgroup.com||Mon to Thu, 8:30am to 6pm|
Most Global Reach money transfer reviews written by the company’s previous customers are largely favorable. On Feefo, an online review-based platform, the company gets an average score of 9.4 out of 10.
Is There an Alternative to Global Reach?
Now that you have reached the end of this Global Reach review, you should be able to decide if you might benefit by using its international money transfer services. If you are unsure about whether this is the best money transfer service provider for you, consider comparing it with some of the other top players from this field.
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Headquartered in the United Kingdom, Global Reach, sometimes known as Global Reach Partners, also has offices in a few other countries. This overseas money transfer company serves individuals and businesses alike. It accepts customers from most countries in the world and supports more than 140 currencies making it an attractive proposition to send money abroad. It aims to provide cost-effective transfers by following a transparent fee structure and offering a best exchange rate guarantee. Individuals and businesses get to protect themselves against negative movements in exchange rates through different hedging tools.
Global Reach is a UK-based overseas money transfer company that began operations in 2002. Now, the company also has offices in the Netherlands, South Africa, and Cyprus. In 2016, the company received backing of Inflexion Private Equity, a leading UK-based private equity firm. In the same year, it acquired FC Exchange, a company that specialized in carrying out cross-border fund transfers for individuals and businesses.
Global Reach provides services for individuals and businesses alike. Its customers may trade in more than 140 currencies. In 2018, it transacted the equivalent of £4.8 billion in foreign currency. The company is registered with and supervised by relevant regulatory bodies in the UK.
In 2018, it received the Best Forex Payment Technology Solution Award at the UK Forex Awards.
Is Global Reach the best international money transfer provider for you? The answer to this requires that you take your individual requirements into account, while addressing a few important aspects.