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Home » Money Transfer Competitors » Why Favor One Key Currency Competitor Over the Others?

Why Favor One Key Currency Competitor Over the Others?

November 23, 2019 By iCompareFX 2 Comments

Compare Key Currency Money Transfer with CompetitorKey Currency is a UK-based overseas fund transfer specialist that began operations in 2016. This company serves individuals and businesses alike, offering competitive exchange rates while charging no hidden fees. The competition in this field, though, is tough, and there are scores of other fund transfer companies that offer similar services. If you are looking for a Key Currency alternative, know that you are not alone.

When looking for an alternative to Key Currency, remember that people who transfer funds across borders tend to have different requirements. As a result, the same company might not work equally well for everyone. For instance, while a particular company may offer highly competitive exchange rates and offer fee-free transfers, it might not accept payments via credit cards.

The table below serves as a starting point in your search for the right Key Currency competitor:

  • See which company offers your desired payment method
  • Look for minimum transfer amounts
  • Compare fees and processing times
  • Make a shortlist

Key Currency Competitor Comparison Table

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

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

Currencies Direct

Currencies Direct Logo 100x150
  • 9.1/10
  • Online
    Phone
    One off transfers Regular transfers Forward Contracts Limit orders Stop loss orders
  • NO FEES
    Currencies Direct regularly offer great rewards for new clients.

    Check back again soon for their latest offers…
  • Visit Website
  • NO FEE
    They charge no fees on 90% of transactions. If fees apply you are informed upfront.
  • 1 - 3 Days
  • Their website is responsive so it auto-scales to your screen size.
  • £1 / $1 / €1
Visit Website

WorldFirst

World First Currency Transfer Logo 2019 100x150
  • 9.2/10
  • Online
    Phone
    One off transfers Regular transfers Forward contracts Currency options
  • Visit Website
  • Real Exchange Rate Used
    0.15% - 0.5%
    Fee is added to the real Exchange rate for transparent pricing.

    Fee on top of inter-bank rate is based on total transfers for the year.

    0.5% < £500k
    0.25% < £5m
    0.15% > £5m
  • 1 - 3 Days
  • Their website is responsive so it auto-scales to your screen size.
  • £1000 / €1000 / AUD$2000
Visit Website

OFX

OFX Orange logo text small 100x150
  • 9.1/10
  • Online
    Phone
    One off transfers Regular transfers
  • Two Transfers Fee Free
    First 2 Transactions Free
  • Redeem Coupon
  • USD$0
    £0
    CAD$15
    AUD$15
    €10
  • 1 - 3 Days
  • Their website is also responsive so it auto-scales to your screen size.
  • $250 / £100 / €250
Visit Website

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

WorldFirst

World First – Competitor of Key Currency Money TransferUK-based WorldFirst also has offices in the Netherlands, Japan, Hong Kong, and Singapore. This alternative to Key Currency began operations in 2004. The company serves individuals, businesses, and online sellers. It operates dedicated multilingual websites for different countries.

Pros

  • Register as an individual, a business, or an online seller
  • Headquartered in the UK, offices also in the Netherlands, Japan, Hong Kong, and Singapore
  • Dedicated multilingual websites for the UK, France, the Netherlands, Australia, Japan, Hong Kong, and Singapore
  • Pay a nominal and transparent margin over existing interbank/real exchange rates
  • Provides forward contracts and scheduled transfers
  • Get free bank account details in different currencies through the World Account, and save in fees when reconciling payments using matching currency accounts
  • Integrating the World Account with Xero is easy
  • Initiate your transfer online or over the phone

Cons

  • WorldFirst does not process transfers from the U.S.
  • Need to account for minimum transfer limits
  • No cash pickup centers

Global Reach Group

Global Reach Group - A Key Currency CompetitorGlobal Reach Group has its headquarters in the UK and offices also in South Africa, the Netherlands, and Cyprus. This alternative to Key Currency has been around since 2002. You may register with Global Reach Group as an individual or a business. Access to its website comes only in English.

Pros

  • Serves individuals and businesses
  • Headquarters in the UK, offices also in South Africa, the Netherlands, and Cyprus
  • All customers get access to currency specialists
  • Choose from forward contracts, limit orders, and stop loss orders
  • Allows scheduling of transfers

Cons

  • No cash pickup centers
  • No multilingual website

Currencies Direct

Currencies Direct – Competitor of Key Currency Money TransferUK-based Currencies Direct also has offices in the U.S., Spain, Portugal, France, India, and South Africa. This Key Currency competitor began operations in 1996. It serves individuals, businesses, and online sellers. Website access comes in different languages.

Pros

  • Register as an individual, a business, or an online seller
  • Accepts customers from most countries
  • Headquartered in the UK, offices also in the U.S., Spain, Portugal, France, India, and South Africa
  • Multilingual website
  • Offers forward contracts, market orders, and scheduled transfers
  • Provides travel money solutions in the UK

Cons

  • Does not provide services in all American states
  • No cash pickup centers

OFX

OFX – Competitor of Key Currency Money TransferOFX is an Australia-based company with offices also in New Zealand, the UK, the U.S., Canada, and Hong Kong. This Key Currency alternative began operations in 1998, as an information-only website. The company serves individuals, businesses, and online sellers. You may use its website only in English.

Pros

  • Sign up as an individual, a business, or an online seller
  • Headquarters in Australia, offices also in New Zealand, the UK, the U.S., Canada, and Hong Kong
  • Operates dedicated websites for Australia, the UK, the U.S., and Canada
  • Offers local phone support in some countries
  • Fee-free transfers if you send more than preset thresholds
  • Provides forward contracts, market orders, and scheduled transfers
  • Initiate your transfer online or over the phone

Cons

  • Allows trading of some currencies only over the phone
  • Website access limits to English
  • No cash pickup centers

TorFX

TorFX – Competitor of Key Currency Money TransferHeadquartered in the UK, TorFX has an international office in Australia. It began operations in 2005 and launched a dedicated website for Australia in 2013. This Key Currency alternative serves individuals and businesses. You may use both its websites only in English.

Pros

  • Serves individuals and businesses
  • Personal transfers come with no fees
  • Offers forward contracts, limit orders, stop loss orders, and scheduled transfers
  • Provides travel money solutions in the UK

Cons

  • Physical presence outside of the UK limits to Australia
  • No cash pickup centers

CurrencyFair

CurrencyFair – Competitor of Key Currency Money TransferCurrencyFair has its headquarters in Ireland, with offices also in the UK and Australia. This alternative to Key Currency has been around since 2009. The company lets you register as an individual or a business. It operates a multilingual website. Using the CurrencyFair Exchange platform, you get to bid for preferred rates.

Pros

  • Sign up as an individual or a business
  • Headquarters in Ireland, offices also in the UK and Australia
  • Website access in different languages
  • Transfer as little as €8
  • Stand to get desired rates through the Exchange platform
  • Lets you schedule transfers

Cons

  • Does not provide services in all American states
  • Does not offer forward contracts or market orders
  • You will pay 0.35% of the transferred amount plus €3 as fees
  • No cash pickup centers

TransferWise

TransferWise – Competitor of Key Currency Money TransferUK-based TransferWise also has offices in the U.S., Estonia, Ukraine, Hungary, Australia, Hong Kong, and Singapore. This alternative to Key Currency began operations in 2011. You may sign up as an individual, a business, or an online seller. The TransferWise Borderless Account lets you hold funds in multiple currencies.

Pros

  • Register as an individual, a business, or an online seller
  • Simplify signing up by using your Facebook or Google account
  • Headquartered in the UK, offices also in the U.S., Estonia, Ukraine, Hungary, Australia, Hong Kong, and Singapore
  • Operates dedicated multilingual websites for the UK, the U.S., Canada, Italy, Germany, Switzerland, France, Brazil, Australia, New Zealand, Japan, and Singapore
  • Offers local phone support in some countries
  • Accepts credit card payments from residents of some countries
  • Hold funds in up to 27 currencies using the Borderless Account

Cons

  • Does not provide forward contracts, market orders, or scheduled transfers
  • Its peer-to-peer network does not support all countries
  • Transfer fee depends on the currencies involved, the amount being transferred, and the mode of payment
  • No cash pickup centers

WorldRemit

WorldRemit – Competitor of Key Currency Money TransferHeadquartered in the UK, WorldRemit also has offices in the U.S., Canada, Japan, Australia, and New Zealand. This Key Currency competitor lets recipients collect transferred funds from physical locations. You may register with this company only as an individual. It operates a multilingual website.

Pros

  • Headquarters in the UK, offices also in the U.S., Canada, Japan, Australia, and New Zealand
  • Offers local phone support in some countries
  • Transfer as little as £1
  • Pay for your transfer using a credit card
  • Website access in different languages
  • Transfer funds to bank accounts or cash pickup centers
  • Top off mobile wallets and airtime

Cons

  • Serves only individuals
  • Where you live and the desired transfer method may affect sending limits
  • The currencies involved, the mode of payment, and the transfer method affect the cost of a transfer

Azimo

Azimo – Competitor of Key Currency Money TransferUK-based Azimo has been around since 2012 and it has an international office in Poland. This Key Currency alternative does not serve businesses. Recipients may collect transferred funds from physical locations.

Pros

  • Multilingual website access and email support
  • Transfer funds to bank accounts or cash pickup centers
  • Get transferred funds delivered home in some places
  • Top off mobile wallets and airtime

Cons

  • Serves only individuals
  • Only residents of Europe may register as customers
  • Accepts payments only in European currencies
  • Physical presence outside of the UK limits to Poland
  • Does not provide forward contracts, market orders, or scheduled transfers
  • Where you live, the destination country, the payment method, and the transfer method affect the fees you need to pay

Frontierpay

FrontierPay – Competitor of Key Currency Money TransferThis UK-based Key Currency competitor has been around since 2009, and it was recently acquired by Ebury Partners. You may register with Frontierpay as an individual or a business. It gives all customers access to personal dealers.

Pros

  • Serves individuals and businesses
  • Gives all customers access to personal dealers
  • Personal transfers come with no fees
  • Provides forward contracts, market orders, and scheduled transfers
  • Initiate your transfer online or over the phone
  • Over-the-phone support through UK- and Singapore-based phone numbers

Cons

  • Only international office in Singapore
  • Website access only in English
  • Need to transfer at least £500
  • No cash pickup centers

XE

XE – Competitor of Key Currency Money TransferHeadquartered in Canada, XE also has offices in the U.S. and the UK. This Key Currency alternative began operations in 1993. XE (formerly HiFX) serves individuals and businesses. The company provides fee-free personal transfers.

Pros

  • Sign up as an individual or a business
  • Canada-based, offices also in the U.S. and the UK
  • Multilingual websites for the UK, the U.S., Canada, Australia, and New Zealand
  • Personal transfers come with no fees
  • Lets you choose from spot transfers and limit orders
  • Provides website access and customer support in different languages

Cons

  • No cash pickup centers
  • Cannot schedule transfers

Banks

Finding a bank that is better than Key Currency for overseas fund transfers is not easy because most banks falter on two important factors – cost and speed. If you are looking for a quick and cost-effective way to send money overseas, turning to a specialist fund transfer company is in your best interest.

Go to top

Learn More

  • Does HiFX have adequate competition or is it all the same with a different name?
  • Should one consider FC Exchange or are there better alternatives?
  • Does TransferWise live up to their hype?

Key Currency Competitors Updates

  • 6th January 2018: Updated new logo for WorldFirst, Removal of fees and CurrencyFair’s fee free transfer change.
  • 2nd October 2018: Updated with new WorldRemit logo.
  • 4th December 2018: HiFX and XE are one brand.
  • 15th February 2019: An android app is now available for TorFX UK.
  • 3rd March 2019: Updated the article to reflect about a cease of WorldFirst’s support for USA business and personal customers on 20th November.
  • 14th March 2019: XE’s pros and cons section are updated.
  • 8th August 2019: Updated XE logo.
  • 12th August 2019: New logo update on WorldFirst.
  • 9th September 2019: Updated with visitor region specific competitor options.
  • 18th August 2019: Removed FC Exchange as this is the old name for Global Reach Group after a brand merger.
  • 1st October 2019: Money transfer provider logo updates.
  • 9th November 2019: Frontierpay was acquired by Ebury Partners.
  • 23rd November 2019: Update about Xero integration with the World Account
Show more
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Filed Under: Money Transfer Competitors Tagged With: Compare Money Transfer, Global Money Transfer

Comments

  1. Raymond Charles Ogilvie says

    April 25, 2018 at 10:01 pm

    Good Evening,
    I have registered with Key Currency,as I need to send a 50k plus payment to Spain.
    My question is : Are Key Currency fully registered to the FCA?
    Also am I covered under the FSCS with Key Currency?
    I just want reassurance before I send the funds .
    Any information would be much appreciated.
    Best Regards
    Raymond

    Reply
    • iCompareFX says

      April 25, 2018 at 11:07 pm

      Hi Raymond,

      Thanks for your comment. Indeed Key Currency is registered with the Financial Conduct Authority (FCA). Financial Services Register No. 753989.

      The question of cover under Financial Services Compensation Scheme in the UK is a really good question. Although FSCS is funded by levies on FCA registered bodies, it may be the case that only bank deposits are covered. Key Currency segregates client funds in their bank accounts. While your funds are within their bank account, it may be the case that it is covered under FSCS. This may not be the case while your funds are in transit to your destination Euro account.

      I would encourage you to verify FSCS cover with your account manager within Key Currency Money Transfer.

      +44 (0)1872 487 500
      support@keycurrency.co.uk

      Best regards,
      The iCompareFX Team

      Reply

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