Key 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
- User RatingTrustPilot or Feefo User Ratings
- Transfer Type
- Coupon
- Fee
- Speed
- Regular Payments
- Mobile App
- Min Transfer Amount
Currencies Direct
- 9.1/10
- Online
PhoneOne 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… - NO FEEThey 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
WorldFirst
- 9.2/10
- Online
PhoneOne off transfers Regular transfers Forward contracts Currency options - 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
OFX
- 9.1/10
- Online
PhoneOne off transfers Regular transfers - Two Transfers Fee Free
First 2 Transactions Free - 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
Global Reach Group
- 7.6/10
- Online
Phone Assistance
Best Rate Guarantee AppliesGlobal Reach have a Best Rate Guaratee policy. Click the Visit Website button below for more details.- > $20When 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
WorldFirst
UK-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 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
UK-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 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
Headquartered 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 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
UK-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
Headquartered 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
UK-based Azimo has been around since 2012 and it has an international office in Poland. This Key Currency alternative serves individuals and businesses. Recipients may collect transferred funds from physical locations.
Pros
- Serves individuals and businesses
- 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
- Pay for your transfer in different ways, credit cards included
Cons
- 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
This 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
Headquartered 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.
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?
Raymond Charles Ogilvie says
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
iCompareFX says
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