Currencies Direct Review

ByMichael GrawDec. 31, 2020

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In a Nutshell

Currencies Direct is a London-based money transfer service that caters to individuals and businesses. The platform offers transfers in 40 different currencies and 200 countries around the world. Currencies Direct charges zero fees for most transfers, but the exchange rate you receive is typically 0.25-1.5% below the going market rate. If you want to lock in a better rate, the platform offers helpful tools like exchange rate alerts.


  • No transfer fees
  • Exchange rate alerts
  • Supports international business payments


  • Transfer minimum of $100
  • No option for cash pickup

What You Need to Know

Transfer fee $0
Transfer time Same day to two business days
Transfer types Online bank transfer
Daily transfer limit $25,000 for personal transfers
24/7 support No

Currencies Direct Fees & Rates

Currencies Direct doesn’t charge any transfer fees. Instead, the platform makes money by offering you a lower exchange rate than the current market rate. Currencies Direct is transparent about this, displaying both the mid-market rate and the exchange rate you’ll receive.

How much Currencies Direct charges through this difference depends on what countries you are transferring between and how much money you’re sending. For sending money from the US to the UK, the exchange rate difference is typically between 0.25% and 0.5%. However, if you’re sending money to Africa, the rate difference that Currencies Direct is charging can be as high as 1.5%. 

One thing to keep in mind is that Currencies Direct requires a minimum transfer of at least $100.

How Does It Work?

Transferring money around the world is easy with Currencies Direct. On the platform’s website, just enter what countries you want to send money to and from and how much you want to transfer. You can then get a free quote with Currencies Direct’s exchange rate by entering your name, phone number, and email. 

If you’re happy with the quote, you can send money online through the Currencies Direct app (for iOS and Android) or over the phone. All transfers must be made to a recipient’s bank account, although you can pay for your transfer directly from your bank account or with a debit card. 

How Long Does It Take?

Transfers with Currencies Direct are typically completed within the same business day, although some transfers can take up to two days. You can monitor your transfer’s progress at any time on the platform’s website or through the mobile app.

Currencies Direct Top Highlights 

Currencies Direct has a few features that help it shine for transferring money around the world:

Global Breadth

Currencies Direct supports transfers between more than 200 countries around the world. It also supports more than 40 different currencies, including most currencies used in Europe and Southeast Asia.

Limit Orders

Currencies Direct support limit orders, which allow you to make a transfer only if the exchange rate hits a predefined level. This is a good option if you don’t need to transfer money immediately and wait until you can get a better exchange rate. Currencies Direct can either initiate your transfer as soon as the desired rate is reached or send you an alert.

Multi-currency Accounts

For businesses that send and receive money in multiple currencies, Currencies Direct offers multi-currency accounts. These accounts enable you to hold money in dollars, pounds, and euros all at the same time and instantly interconvert between them at Currencies Direct’s going exchange rate at any time. 

Simultaneous Payments

Another nice feature for businesses is that Currencies Direct enables you to set up multiple simultaneous payments in various currencies. This is extremely helpful if you want to pay overseas employees at the same time. Individuals can also take advantage of this feature to send money to friends and family scattered around the world.

Customer Support

Currencies Direct offers US support from 9 am to 5 pm Eastern, Monday to Friday, by phone and email. Although these support hours are somewhat limited, Currencies Direct has more than 20 branches around the world. So if you need help outside of regular business hours, you can contact the company by contacting an international branch.

Privacy and Security

Currencies Direct is regulated by the Financial Conduct Authority, which is the UK equivalent of the Financial Industry Regulatory Authority in the US. 

The company keeps all customer funds completely segregated from its own funds, an important firewall that ensures your money is going to its intended destination. 

The company also subscribes to voluntary regulations like the Non-investment Products Code and is highly rated by the UK credit agency Dun & Bradstreet.

Bottom Line

Currencies Direct is a high-quality money transfer service that offers zero transfer fees and competitive exchange rates. The service enables you to send money as fast as the same day to over 200 countries around the world. However, you must send at least $100 and transfers have to be sent to a bank account rather than to a cash pickup location.

Initiating a transfer is simple through Currency Direct’s web interface or mobile app. You can easily enter limit orders if the current exchange rate isn’t as favorable as you’d like. Businesses can also benefit from Currency Direct, since the platform offers tools like multi-currency accounts and simultaneous payments around the globe.

Currencies Direct customer testimonials

ExcellentReviews 5,483
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  • author
    Alan Brown
    20 hours ago
    Great Service and Support

    Was initially recommended Currencies Direct by a friend and I have now used them on several occasions. The support and service received from Germaine Boselli (my account manager) has been excellent. The entire process is so simple and efficient. Would not hesitate to recommend them to anyone looking for currency transfer services.


  • author
    Jason Beesley
    a day ago
    Fantastic and super-efficient service

    Fantastic and super-efficient service. Kept up to speed every step of the way, and Germaine was brilliant. Thanks for your help


  • author
    Jose Joao Silva Pereira
    a day ago

    Jose joao silva pereira


  • author
    Margaret O'Connor
    a day ago
    Daisy was fantastic and explained…

    Daisy was fantastic and explained everything clearly and handled our transfers really efficiently and to our advantage.


  • author
    Lisa Burns
    2 days ago
    Quick and safe transfer!

    Daisy was super helpful when she phoned to explain how to transfer pounds to NZ dollars. She answered all of my questions clearly! She is fantastic!


Currencies Direct