Currency UK summary
- No fees for most transactions
- Live phone and chat support
- Fast and easy to use
- £5,000 minimum for one-time transfers
- No mobile app
No fee for most transfers
Award winning, personalized customer service with phone transfers available
Regulated and encrypted secure transfers
Online and mobile experience
CurrencyUK at a Glance
|Online and Mobile Experience|
CurrencyUK Fees and Rates
Unlike most banks, CurrencyUK does not charge a fee for most transfers. Instead, it makes its money on the margins of each currency exchange, thereby saving you money while also getting you the best rate possible.
How Does It Work?
To get started with CurrencyUK, simply adhere to the following steps.
- Create an account online.
- Secure a great rate with live exchange rates 24/7.
- Send or receive your payment via bank transfer or cheque.
- Track the status of your transfers online or over the phone.
Once you create your account, you will be assigned to a dedicated account manager, who will call to confirm your registration and serve as your primary point of contact if you need assistance in the future.
You’re then ready to either send or receive payments through CurrencyUK’s online portal or over the phone. Simply choose the currency you’d like to send, secure a rate, and provide the bank details of where you’d like the transfer to go.
You can send funds to CurrencyUK via an electronic bank transfer or cheque. It does not accept cash payments or support transfers to or from a credit card.
How Long Does It Take?
Depending on your funding method, you may be able to make a transfer the same day.
If you’re making a transfer in USD, GBP, EUR, or CAD, CurrencyUK offers same-day trades and payments.
For all other currencies, according to the CurrencyUK website, the usual turnaround time for a money transfer is within two business days.
CurrencyUK Top Highlights
In addition to fast and free transfers, CurrencyUK offers a number of stellar features. With its auto-pay feature, you can set up regular foreign currency payments to satisfy expenses such as foreign mortgage payments, pension transfers, or tuition fees.
Additionally, if you need to make a transfer in the future but are wary about what the exchange rate might be, you can fix the rate now with a forward contract, thereby locking in a rate on a future transfer for up to 12 months.
Finally, if you refer a friend to CurrencyUK, the company will send you a £50 Amazon voucher after your friend makes their first transfer.
CurrencyUK offers live phone and chat support between the hours of 8AM and 5:30PM UTC, Monday-Friday. You can also direct enquiries to its email address or contact it via a secure message on its website.
Phone: +44 (0) 20 7738 0777
Customers widely report that CurrencyUK offers fast and friendly customer service. It currently has a rating of 4.9 out of 5 stars on Trustpilot with over 1,700 reviews. Additionally, CurrencyUK won the Best Money Transfer Provider award at the 2018 British Bank Awards.
Privacy and Security
While CurrencyUK does not have a dedicated fraud team, it encourages you to reach out to its customer service team if you believe your account has been compromised or you are a victim of fraud.
CurrencyUK uses 2048-bit SSL encryption to protect your personal and financial information. Before you complete a transfer, CurrencyUK will require you to enter your PIN to ensure you authorize the transaction. It sends you email confirmations after you receive or send a payment and stores a record of the devices that have accessed your account so you can keep tabs on your transaction history.
At this time, CurrencyUK does not have a mobile app, although you can access its website through a browser on your mobile device. It provides live exchange rates 24/7 and there are no hidden fees, so you always know the exact amount of an inbound or outbound payment.
If you need to send or receive payments in a foreign currency, then CurrencyUK may be the right option for you. It does not charge a transfer fee and provides live exchange rates 24/7. You can send a same-day transfer either online or over the phone. Additionally, you can automate payments to save time or fix an exchange rate on a future transfer for up to 12 months.
While it does not have a mobile app or physical branches, CurrencyUK is a great option for businesses or individuals who want to save time and money on currency transfers.
This review was created with information from CurrencyUK’s website, reviews on comparison sites, and customer feedback.