Transfer Money
with Currencies Direct

Our detailed review of Currencies Direct — a money transfer company offering a great exchange rates for large sums and for business.

Currencies Direct Review 2020

Are you unsure of making a international money transfer with Currencies Direct ? We have all your answers in the one easy to read article.

In this Currencies Direct review we will explain:

Currencies Direct is good for

  • Competitive rates for large money transfers
  • No fixed fees or commissions
  • Local branches in 23 countries
  • Wide range of business services

Currencies Direct rating: 4.5 / 5.0

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Money transfers can be made in these currencies:

Europe and UK
  • British Pound
  • Euro
  • Danish Krone
  • Norwegian Krone
  • Swedish Krona
  • Swiss Franc
  • Turkish Lira
  • United Dollars
  • Canada Dollars
Middle East
  • Israeli Shekel
  • United Arab Emirates Dirham
  • Hong Kong Dollars
  • Japanese Yen
  • Singapore Dollars
  • Thailand Baht
  • Australia Dollars
  • New Zealand Dollars
  • Egyptian Pound
  • South African Rand

Who is Currencies Direct?

Who is Currencies Direct?

Currencies Direct is a business that helps you to send money overseas. Known as a foreign exchange or currency exchange provider, you can transfer money between more than 120 countries around the world.

Currencies Direct was established in 1996, by Mayank Patel and Peter Ellis and today has over 500 employees around the world. It has offices in the United Kingdom, Canada, Portugal, India, South Africa, Spain, and the United States.


Currencies Direct has won several awards including the MoneyAge ‘Money transfer provider of the year’ award in 2016 and 2018. Currencies Direct was the first money transfer provider in Europe.

You can send money through their website and online platform, or through a mobile app. One of the things we like about them is the customer service, and it’s often mentioned in online reviews. Just give Currencies Direct a call and you’ll get the information you need.

Currencies Direct also has more than 23 local offices around the world, where you can talk to someone in person. You can stay updated on your transfer with email and SMS alerts.

Pros and cons of using Currencies Direct

For most of your international money transfers, Currencies Direct is a good choice.
Let’s break it down and explain what Currency Direct is great at and where they have a few issues.

  • Fast and great customer service with a dedicated account manager.
  • No charges or hidden fees for most transactions.
  • Rate alerts can be sent to your email and SMS.
  • Local expert advice, help is offered on local regulations in 23 countries.
  • Access to the multi-currency account for online sellers.
  • Wide range of services for risk management for business.
  • Forward contracts and limit orders available for individuals and business.
  • No Cancellation Policy: All exchanges are contractual and final.
  • Time of exchange varies by location and settlement process.
  • No cash pick up available in local branches.
  • Not available in all US states.
  • Expertise in overseas property.
  • Exchange rates lower on smaller money transfer amounts.

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Is Currencies Direct easy to use on your mobile?

Currencies Direct does provide a mobile app, but unfortunately the reviews aren’t great. Although some people praised the app for being fast and easy to use, many reviewers did complain that the latest updates to the app were causing considerable problems. Of course, it’s very likely that Currencies Direct will fix this, but you should definitely be aware. If you download the app, do test it out before you rely on it. The app scored 3.8 out of 5 on the App Store (Apple) and 4.1 out of 5 on Google Play (Android).

The app lets you make money transfers, buy currency you can use later, check out real exchange rates, set rate alerts, track your transfers, and manage the people you’re sending money to.

When should I use them to transfer money?

How fast is Currencies Direct?

They are pretty darned quick, and Currencies Direct says the recipient will normally have their funds within 2-3 working days of you paying for the transfer.

In some cases, they may even get the money on the same day.

Of course, it does depend on the currencies you’re exchanging, where you’re sending the money, and a few other factors. You’ll also need to build in some time for the recipient's bank to credit the money to their account.

How much does it cost to send money with Currencies Direct?

Currencies Direct Review - What are the costs?

Currencies Direct doesn’t charge a fee for 90% of the transfers they do. That’s not the same as saying they do transfers for free though (which is what they claim on their website)!

Instead, Currencies Direct, like many other money transfer providers, makes money by giving you a slightly worse exchange rate than the mid market rate, and pocketing the difference. This is completely normal for currency exchange businesses.

The actual exchange rate you get does depend on how much you transfer. Typically, you can expect to pay around one percent of the amount you’re sending, so if you’re transferring $1,000, expect to pay around $10.

How do I send money with Currencies Direct?

Excellent news here, as signing up for a Currencies Direct account, then using it to make a transfer is dead simple.

  1. Choose how you want to open your account. You can do it through their website, give them a call, or even visit a Currencies Direct shop.
  2. When you want to send money, you can do that online, through the app or by telephone.
  3. You’ll need to provide details of who you want to send the money to, including their name, address and international banking details.

How much can I transfer with Currencies Direct?

You can transfer up to £25,000 online or through the Currencies Direct mobile app. If you need to send more than that, give Currencies Direct a call and you can get some very helpful customer support.

The details you’ll need when you’re sending money

Currencies Direct does need some details if you want to create an account and send money:

  • Whether your account is for personal or business use
  • Your name and contact details
  • Verification documents to prove your identit

When you want to send money, they’ll also need more details, including:

  • The amount of money you’re sending
  • The countries you’re sending money from and to
  • The currencies that you’re sending money between
  • The name and address of the person you are sending money
  • Bank account details of the person you are sending money

The bank account details you’ll need vary between countries, but typically you’ll need to provide the sort code or routing number and the account number. In some cases, you’ll need to provide a SWIFT code or IBAN (International Bank Account Number.)

Currencies Direct Review - What details do I need to make a money transfer?

Ways to Pay Currencies Direct

Most money transfer providers only let you pay by bank transfer. Not so with Currencies Direct. You can pay by sending them money from your bank, but you can also pay with a debit card if you prefer. You’ll pay once you’ve agreed an exchange rate, and Currencies Direct waits for your funds to clear before converting the money and sending it to the recipient.

Ways to Pay

Currencies Direct only lets you send money to someone else’s bank account. They can’t receive it as cash or have it delivered to their home.

Customer reviews and support details

Trustpilot customer reviews about Currencies Direct

Customers love Currencies Direct, with 93 percent of customer reviews on Trustpilot describing them as “Excellent” or “Great.” This translates into an average score of 4.8 out of 5.

Here’s what some of the reviews say.

“When I first contacted Currencies Direct I had no idea I was going to receive such excellent service. Right from the start Damien Harrison led me through every step of the way with my currency transfer.He made it an easy and understandable process and I shall certainly be using this company again.”

“Very easy to use Currencies Direct. They have been very helpful with any questions that we've had.“

“I had Grace helping me through my money exchange! She was amazing!! She was very patient, knew all the answers to my questions, she explained everything that was happening and how it works and she even gave me a call the next day to let me know my money had got to where it needed to be!”


There were some issues, with complaints about exchange rates, funding and speed of transfer, but only 4 percent of reviews were negative.

Currencies Direct Support

Currencies Direct Review - Can they be trusted?

Is Currencies Direct legitimate and safe?

Absolutely. Currencies Direct is fully regulated in the UK by the Financial Conduct Authority (FCA), which means they have to meet strong rules and regulations. It has served over 300,000 customers and transfers more than £7 billion a year.

Currencies Direct has the highest credit rating with Dun & Bradstreet and one of the highest overall review scores on Trustpilot, earning 4.8 out of 5.

Currencies Direct for Business

Currencies Direct are highly geared to cater for your business international needs. Business offerings include:

  • If you’re an online seller, you can get a multi-currency account that lets you receive funds in GBP, EUR, USD, and JPY from the USA, UK, France, Germany, Spain, Italy, and Japan
  • Currencies Direct supports the following online marketplaces: Amazon, Allegro, Bol, Cdiscount, eBay, Darty, Depop, Fnac, Frugo, Game, Groupon, Jet, Lazada, Newegg, Overstock, Paypal, Pixmania, Play, Priceminister, Rakuten, Shopify, Spartoo, Target, ToysRUs, Trademe, Walmart, Wayfair, and Wish
  • International payments to employees, suppliers, partners, and others around the world
  • Increase efficiency and reduce cost of international batch or multiple payments
  • You can get live, interbank rates on the website or in the app
  • If you want to lock in an exchange rate, you can use forward contracts
  • If you want to exchange money when the rate gets better, you can use limit orders
Currencies Direct for Business

If you want to use one of these financial services, just give Currencies Direct a call, and customer service will talk you through what you need to do.

Ready to go?

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Seyma Mektepli
Seyma is an experienced content writer and editor-in-chief at Exiap, delivering informative articles on personal finance, and money transfers.
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Last updated
March 1st, 2022