Currencies Direct Review: Is it legit, safe and trustworthy for UAE citizens and residents?
Currencies Direct is one organization that is growing increasingly popular
for customers who desire to transfer money to a foreign country. Our review of
this money transfer service is very in-depth, and they includes information
about the services offered by the company, what sets the company apart from
others in its industry, such as TorFX and XE, as well as the positives and
negatives of the service and what other customers have to say about it. At the
conclusion of this review, you will have all of the knowledge you require to
decide whether or not the international money transfer service offered by
Currencies Direct is the right one for you.
Visit Currencies Direct Website.
When Currencies Direct first opened its doors in 1996, one of its primary goals was to revolutionize the way that international money transfers were handled. Numerous people have the opportunity to rapidly send money to a different nation, and they have their choice of four languages in which to do so: English, French, Norwegian, and Swedish.
The organization has locations all over the world, from Spain to Mumbai, and each of these locations is able to assist you in transferring money from one nation to another. Because we have more than 500 people working for us, there is always someone accessible to assist you, no matter what time of day it is. You are able to transfer money as an individual, a corporation, or an internet merchant by only registering yourself in a straightforward manner online.
Tweets by currenciesd When you utilize the firm's website, app, or call them to make a claim over the phone, the money transfer company gives you access to a number of different alternatives from which you can select.
The maximum amount that an individual can convert from one currency to another is $25,000. Additionally, the app gives you the ability to view current rates, buy money that you can spend at a later time, and set alarms.
The goal of Currencies Direct is to simplify the process of transferring money internationally as much as is humanly practicable. A forward contract is the first available choice for customers to choose. You are the one who determines the exchange rate and makes the payment for the transfer; you will then get the precise fee at some point in the future. You have the ability to buy these contracts up to a whole year in advance.
The following order is a limit order. You may go with this option if you want things to have well delineated borders. You won't be able to make a transfer of funds until the currency exchange rate reaches a certain minimum level.
You may also restrict the amount of money you transfer by setting a threshold with a stop-loss order. This threshold determines the minimum amount of currency exchange that is allowed. If this is the case, currency exchange will take place if and only if the economy satisfies the required minimum threshold for currency exchange.
You are able to mix any and all order types while working with Currencies Direct if you so want. You are able to protect yourself against adverse rate changes while profiting from favorable exchange rates when you use a combination. Additionally, you can:
Make frequent transfers
You can get some spending money through the company's affiliate WeSwap.
Make the most of the free materials that are offered on the website of Currencies Direct.
When utilizing Currencies Direct, commercial enterprises are eligible for benefits that are not available to individuals. Companies that need to make recurrent payments to employees and suppliers located all over the world have access to a number of payment options, the most important of which are multiple and batch payments.
When it comes to managing their foreign collections and payments, online retailers may make use of features that automatically converts currencies. You'll also have the ability to take care of outgoing payments when you manage your business account with Currencies Direct. You are able to keep accounts in a number of different countries and may even plan conversions if you find that you need to.
When it comes to the management of potential risks associated with money transfers, one of the customer care teams is available to assist. One of their agents will deal with both large and small firms in the same manner.
The agreement between Currencies Direct and Barclays Bank aims to make money transfers as simple as possible. Because of this relationship, competitive exchange rates are available.
If you are a loyal customer of a bank that offers a superior interest rate, you are free to continue utilizing the service that you have been using. However, if the bank that you use has a larger fee, working with the third-party cash moving provider may also be beneficial to you.
Keep in mind that services might change from nation to nation; for example, the types of cash transfers that are permitted in Spain can differ from those that are permitted in India.
Consider utilizing Currencies Direct if you want to make transactions internationally but don't want to be constrained by a specific deadline. Your ability to store your e-cash in the account for an indefinitely long period of time is made possible by the fact that the firm is an EMI. You are not restricted in any way in how you may put that money to use.
Currencies Direct might be the answer for you if you're seeking for an international home that gives you the freedom to take things slowly. While banks typically impose a time limit on how quickly you must use the cash that you've deposited to their institution, Currencies Direct does not charge any further fees for monies that are simply held in your account.
The movement of monetary value from one nation to another is the area of expertise offered by Currencies Direct. You are able to exchange money with the organization at a rate that is more advantageous than the price of most currencies on the market. You may give or receive money at any time of day or night, regardless of whether you do it in person or online.
Seven locations may be found across the world, including: UK
Australia, New Zealand
The majority of offices operate on a local timetable that is tailored to the community that they serve. For instance, the office in the United States is open from nine in the morning until five in the afternoon, according to Eastern Standard Time, but the building in India is open from ten in the morning until midnight, according to Indian Standard Time.
You may determine the location of the Currencies Direct office closest to you by visiting the company website.
Currencies Direct provides its customers with a website and an app that they may use if they need to send money internationally outside of the normal business hours of their local office.
The company includes a section on their website devoted to frequently asked questions for customers who have an urgent need for cash. On this page, you will discover the answers to all of the most often asked questions, which will allow you to simplify the process of transferring.
You have the ability to transfer up to $25,000 worth of whatever cash you want whenever you want using either the mobile app or the internet.
You may monitor the people who have been given transfers and check on the availability of shifts through a component of the website that is available online.
If you visit their website, you will be able to obtain a free estimate. The following pieces of information are required by the team:
Personal or commercial transfer
How much money will you be transferring?
The currencies that are being transferred by you
After that, you are prompted to provide information such as your name, email address, and telephone number. You may expect a response from the staff at Currencies Direct as soon as they are able.
Fill out the form with your details to obtain a free estimate before beginning the process of filing a claim with the firm. The estimate will take around fifteen minutes of your time, and the staff will modify the material so that it meets your requirements.
Currencies Direct provides its customers with transfer services in addition to a news portal that provides up-to-date information on currencies from around the world.
In this section, in addition to other important currency news, you'll discover articles that discuss the potential effects that Brexit might have on you, regardless of whether or not you currently live in the United Kingdom.
The organization provides guides to a range of nations, ranging from Portugal to the United States, for those who are interested in purchasing real estate in those countries. This organization will put you in touch with real estate agents, provide you with helpful hints and suggestions, and evaluate the cost of real estate in other countries.
The only third-party money transfer provider with a substantial retail presence, choices to do the transaction over the phone or online, as well as a mobile application is called Currencies Direct.
The firm was granted permission to operate as an electronic money institution by the Financial Conduct Authority (FCA). The reference number for the firm that facilitates third-party money moving is 900669, which indicates that you may check in to examine rules pertaining to Currencies Direct.
The designation of Currencies Direct as an EMI makes it possible for the company to issue electronic money. The term "eCash" refers to monies that are kept on a digital device such as a mobile phone, personal computer, or tablet computer. EMIs are authorized to offer additional services such as IBAN accounts, payment cards, and electronic wallets. When it comes to moving your money, you have a few different alternatives.
Due to the fact that Currencies Direct is an Electronic Money Institution, you are able to retain the monies from your online transactions in the account for as long as you require them to be there. You will need to go through an EMI process if you need to make monthly payments in a foreign country. You will not be restricted in any way in how you are allowed to use the money that is currently in your account.
Currencies Direct was given a credit rating of level 1 by Dun & Bradstreet, a business that specializes in the study of commercial data. The highest possible rating that a company may get is level one. Because of this score, you can be certain that moving your money via the organization will involve the least amount of danger that is even remotely feasible.
Transferring funds internationally has also been made possible through Currencies Direct, and this service is open to both private individuals and commercial enterprises. You open a separate bank account just for the purpose of moving money so that it does not interact with the rest of your finances in any way.
Because these accounts are kept separate, Currencies Direct will not be able to access your money in the event that the company has financial difficulties. Because the organization supports more than 40 different currencies, you have a number of different alternatives available to you when making transfers.
Currencies Direct evaluations are those that originate from actual clients who have made use of the services provided in their day-to-day lives. Either these customers are first-time customers or they have been loyal to the company in the past.
A variety of reviews about the firm can be found on Trustpilot, which is a website with a high level of credibility that enables people to work together on audits. Currencies Direct routinely polls its consumers for feedback on its program, inquiring about the degree to which they were pleased or dissatisfied by their interactions with the company. The testers that were selected come from a wide range of nations.
There were over four thousand evaluations on the website, and 86 percent of them rated the services provided by the organization as outstanding, with none of them mentioning any issues. Customers never fail to mention the member of staff who aided them. The ease with which the organization carried out the procedure was another point of praise from the customers. The workers took the time to walk individuals through the procedures of the transfer, ensuring that there was no needless misunderstanding. This was cited in several of the evaluations.
Despite the fact that the vast majority of the articles were favorable, there were a few evaluations that were unfavorable. Customers who had a negative experience frequently mentioned personnel who were useless and spoke little English. There were a few reviews that indicated that the currency rates provided by Currencies Direct were inaccurate. Having said that, the firm does read the bulk of the reviews that are critical of them and reacts to them with assurances that they will improve.
You may get in touch with the friendly customer support team at any time if you run into any problems transferring money or validating the exchange rates. You may get in touch with the firm by sending an email, calling them, or visiting their office in person.
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The following is a list of the most beneficial aspects of the organization that transfers money:
Excellent bargains Whether you are sending a very modest amount of money or a substantial quantity of money across international borders, you will have a dedicated account manager handling your transaction.
Through the use of the mobile app, you have the ability to send up to 25,000 regardless of the time of day.
You are able to obtain local expertise thanks to the fact that we have teams located in a variety of nations.
Your purchase of a home in a different nation will be easier with the assistance of the organization.
There are no additional costs, and the firm will provide you advance notice of any fees that may be incurred.
You may log into your account using a personal computer, a mobile device, or a tablet.
The organization provides a variety of services for the transfer of money.
When you make a claim, you are entitled to a free estimate.
The web platform has a wide range of features and is simple to use.
Currencies Direct is a company that strives to make the process of transferring money as easy as possible; yet, the service is not completely reliable. Let's talk about the ways in which the organization can get better.
There are no choices available locally for beneficiaries to take up their cash payments in any form.
Through the smartphone app, you may only send a maximum of $25,000.
You may discover what individuals have to say about specific consumer experiences by going to Trustpilot, which is an online review site. Currencies Direct has a loyal following of active reviewers and keeps regular contact with existing clients in order to further develop their business.
You should utilize Currencies Direct if you want high-grade quality customer support, transfers without fees, as well as live rate changes and notifications.
In the course of our research and evaluations of Currencies Direct, we discovered that the service is beneficial to both people and companies. Numerous customers have benefited from its ability to purchase real estate in another country, acquire currency in advance, generate rate alerts, and monitor current rates while on the move.
The team at Currencies Direct is also available to provide their services to businesses. The firm collaborates with you to meet the requirements of your organization, whether those requirements include local collection accounts, batch payments, risk management tools, or greater control over your account.
When you need to transfer money internationally and want to collaborate with a team of experts, visit Currencies Direct right now.
Reviewed by Arpita Singh
Arpita Singh is the main writer at ForexBroker.ae. As a senior investment professional with 10+ years of experience working at top-tier Private Equity and Sovereign Wealth Fund; she is also responsible for fact-checking concepts, reviews, and related details about brokers and exchanges listed on this website. Full Bio.