Is Currency Solutions Right For You?
If you compare exchange rates offered by Currency Solutions with those that most banks offer, you will see why this company finds so many takers. Additionally, this fund transfer specialist does not charge fees or commissions for processing international money transfers.
You can register with this overseas money transfer company as an individual or a business. As an individual, you can use the services of this company to:
- Send money to friends and family
- Get currency requirements met when emigrating
- Make scheduled transfers
- Transfer pension payments overseas
Businesses can benefit by using:
- Spot contracts
- Forward contracts
- Other options such as forward extra, knockout, and ratio
At a Glance – Currency Solutions Ltd.
Most Currency Solutions reviews you find will have positive things to say about the company. Beyond its headquarters in London, this overseas money transfer company also has offices in Cyprus, Ireland, and the Netherlands.
When you get ready to make a transfer through Currency Solutions, you will have access to an expert currency dealer. If you wish, you can use the same dealer for subsequent trades.
Since it began operations in 2003, this company has generated profits every year. Currency Solutions has the authority to sell derivatives. As a result, it is required to hold high levels of cash within the business. This, in turn, offers a higher level of security to its customers.
The table below gives you a quick overview of Currency Solutions.
- User Rating
- Transfer Type
- Regular Payments
- Mobile App
- Min Transfer Amount
Details about Currency Solutions
Several customers have rated Currency Solutions as the best money transfer service provider they have used. However, you must determine whether this company will work well for you after taking your individual requirements into account. The subsections of the Currency Solutions money transfer review that follow shed light on some important aspects.
Currency Solutions sends payments to all countries the world over, aside from those subject to international sanctions. It lets you transfer funds in different currencies, which include:
|AED||United Arab Emirates dirham|
|CZK||Czech Republic koruna|
|GBP||Great Britain pound|
|HKD||Hong Kong dollar|
|LKR||Sri Lankan rupee|
|NZD||New Zealand dollar|
|ZAR||South African rand|
This fund transfer company does not charge currency exchange fees. You do not have to worry about any bank transfer charges, cross-border charges, or any kind of hidden fees. However, Currency Solutions earns a profit when converting one currency to another.
The turnaround time depends on multiple factors. If you want your transfer to process quickly, you should pay on the day you finalize your transfer. The processing time also depends on the payment method and the currencies involved. Bank and public holidays can have an effect on the turnaround time.
Currency Solutions provides specialist fund transfer services to individuals from different countries. You can use this company to send money to family and friends or make scheduled transfers. If you plan to move to a foreign country, Currency Solutions can help you with your forex requirements.
Businesses can benefit by using Currency Solutions in more ways than one. For its corporate clients, this overseas money transfer firm offers spot contracts, forward contracts, and other options such as forward extra, knockout, and ratio.
- Spot contract. Spot trades take place instantly, enabling you to settle your trade on the same day. This allows you to take advantage of favorable market movements at any time.
- Forward contract. A forward contract gives you the ability to buy or sell a currency at a fixed rate, and then settle the trade at a later date, which can be anywhere from three days to three years in the future. This way, you can manage your exposure to unfavorable market movements.
- Forward extra. The forward extra structured option provided by Currency Solutions offers protection against the depreciation of the GBP/USD spot rate. It also allows you to benefit from the appreciation of the GBP/USD spot rate up to a predetermined barrier level. When the barrier rate is reached, you have to complete your transaction.
- Knock-out forward. This structured option comes with an exchange rate that is better than the existing GBP/USD forward rate. While it provides protection against the depreciation of the GBP/USD rate, it may remove your ability to transact once the rate reaches the barrier level.
- Ratio forward. As with the previous alternative, a ratio forward also comes with an exchange rate that is more favorable than the existing GBP/USD forward rate. However, if the GBP/USD spot rate is higher than the strike rate at the expiration of the option, you will have to transact a ratio amount.
- Regular payments. Scheduling payments for the future is easy with Currency Solutions.
- Payment methods. You can pay for your transfer through your bank account, a debit card, or a credit card. While Currency Solutions does not charge fees for debit and credit card payments, if you pay via credit card your card provider may charge a transaction fee of 1.5 to 3 percent.
Currency Solution Money Transfer Rates
If you compare foreign exchange rates offered by Currency Solutions with banks, you will notice that using the services of this company can lead to noticeable savings. You can receive a fee quote by visiting the Currency Solutions website and providing some basic information such as the amount you wish to send, the desired currencies, your name, your email address, and your phone number. Alternatively, you can use the currency converter provided by Currency Solutions to view prevailing interbank mid-market rates.
Coupons Offered By Currency Solutions
There are no ongoing promotions offered by Currency Solutions.
Signing Up With Currency Solutions
Currency Solutions lets residents of most countries sign up as customers free of charge. If you complete and submit your online registration form during business hours, an account executive will contact you within an hour. You can also start the registration process by speaking to an account executive over the phone, who will then guide you through the process.>
The registration team might require you to submit a copy of your passport or driver’s license to verify the credentials you provide, as required by law. While the company manages to verify a majority of its customers from the UK electronically, in some cases it verifies identify and addresses manually. In such a scenario, you will have to provide additional documents such as bank statements or utility bills.
Setting Up a Transfer With Currency Solutions
Once you register with Currency Solutions, setting up a transfer is easy. The initial stage requires that you state the currency you wish to pay in, the amount you wish to send, and the currency you want the recipient to receive. Once you get an agreeable quote, you provide details of the recipient. These would include the recipient’s name, address, and bank account information.
The final step involves paying for the transfer, which you can do using any of the accepted methods. You can initiate transfers online or over the phone.
Currency Solutions lets you transfer any amount over £3000 (or its equivalent in another currency).
Additional Information about Currency Solutions
- You can use the Currency Solutions website in English only.
- The Financial Conduct Authority (FCA) and Her Majesty’s Revenue and Customs (HMRC) regulate this UK-based overseas money transfer company.
- Currency Solutions holds client money in segregated bank accounts.
- The Currency Solutions website provides tools which include an IBAN checker and a SWIFT checker.
- The Currency Solutions website relies on high level encryption to safeguard the information you provide online.
This is another area of the Currency Solutions money transfer review in which the company rates well. While you can get in touch with a company representative using the Internet, you can also speak to one over the phone during business hours. The table below provides contact information for this company in different locations.
|Address||Phone Number||Hours of Operation|
|The UK||Hobbs Court, 2 Jacob Street, London SE12BG||+44 (0)20 7740 0000||8.30am to 6pm Monday - Thursday 8.30am to 5pm Friday|
|Cyprus||Office 101, Royal Business Center, Vasileos Constantinou Ave, No 89, 8021, Paphos||+357 26 813 613||9am-6pm EEST (GMT+2h) Monday to Friday|
|Ireland||Office 6F, Unit 6, KCR Business state, Kimmage, Dublin 12||+353 1531 4811||9am to 6pm GMT Monday to Friday|
|The Netherlands||UP Building, Piet Heinkade 55, 1019 GM, Amsterdam||+312 0800 6458||10am to 6pm CET Monday to Friday|
Is Currency Solutions the best money transfer service provider for you? After you take your individuals requirements into account and then compare currency exchange rates, fees, and other aspects that matter, you should have your answer.
Currency Solutions Review Updates
Currency Solutions Review
- Account Set-up
- Transaction Fees
- Ease of Use
- Customer Service
Currency Solutions is a UK-based fund transfer specialist that has been around since 2003. The company offers international money transfer services to individuals and businesses, letting them send money in various currencies, to a number of countries the world over. Currency Solutions lets you make scheduled transfers and it also offers forward contracts. Most customers of this company have rated it well.
Currency Solutions began operations in 2003. Headquartered in London, this company has become one of UK’s leading currency exchange and funds transfer specialists. Since its inception, Currency Solutions has served more than 180,000 customers. It has processed over 325,000 trades, having transferred in excess of £6 billion.
On Trustpilot, a platform where you can find Currency Solutions reviews written by real customers, the company scores 9.4 out of 10.
Currency Solutions provides services to individuals and businesses alike. As a customer, you can benefit by getting bank-beating exchange rates, personally assigned currency experts, quick turnaround times, and reliable customer service.