Currency Solutions International Money Transfer Review 2023

For many folks (particularly those in the biz world), moving money across borders has become as common as snapping a selfie. Whenever you’re confronted with a scenario where you’ve got to send a considerable amount of cash across the globe, it’s pretty typical to invest hours, perhaps even days, hunting for the most beneficial money transfer provider.

With a sea of options out there, how do you zero in on the ideal partner for your financial ventures?

The solution is exploring different options to find the right one for you, and today, we’ll explore Currency Solutions. As one of the top dogs in the international money transfer game, they’ve been doing their thing for years, earning a pretty solid rep. Starting from the UK, they’ve gradually expanded their reach worldwide, now catering to customers with even the most intricate needs.

To get the full scoop on Currency Solutions, we’ll give you a lowdown on all of their features. We’ll discuss their pros & cons, safety measures, speed, fees, rates, customer service, and what real-life customers have to say about their experience with them.

Buckle up and let’s start unraveling everything you didn’t know about Currency Solutions.

Who are Currency Solutions?

To truly understand Currency Solutions, let’s take a trip down memory lane. Founded in 2003 in the UK, this financial trailblazer has been making waves in the international money transfer scene for two decades. What began as a modest domestic undertaking has quickly sprouted into a global powerhouse – all thanks to their unwavering commitment to innovation and customer satisfaction.

As they’ve grown, Currency Solutions hasn’t lost sight of what makes them unique – their people-centric approach. Rooted in a vibrant, collaborative culture, the company nurtures a team of experts who are always ready to go the extra mile for clients. Their success in the industry is a testament to this exceptional team of specialists.

The heart of Currency Solutions beats in the bustling city of London, with offices now spanning all across Europe. This strategic positioning allows them to have their finger on the pulse of the global financial landscape at all times. That makes them a no-brainer for companies and individuals alike.

But what truly sets Currency Solutions apart is their dedication to staying ahead of the curve. While many other providers are content to play it safe, Currency Solutions continually explores new ways to streamline processes, enhance security, and optimize rates for their clients.

Their collective impact is also worth noting. By facilitating seamless international money transfers, they’re not just helping people manage their finances – they’re enabling businesses to grow and fostering stronger connections in an increasingly globalized world.

Currency Solutions Pros & Cons

	Pros	Cons
1.	Amazing customer service – Currency Solutions is known for its friendly and responsive customer service, ensuring clients feel well-supported during the transfer process.	Transfer fees for small money transfers – Currency Solutions charges a £10 fee for transfers below £3,000, which may not be cost-effective for clients with smaller transfer amounts.
2.	High Trustpilot rating – With a strong Trustpilot rating of 4.7 out of 5 stars, Currency Solutions demonstrates a high level of customer satisfaction and trust in their services.	No mobile app – Currency Solutions currently doesn’t offer a mobile app, which can limit quick access and convenience for clients who prefer managing transfers via their smartphones.
3.	No transfer fees for larger money transfers – For transactions above £3,000, Currency Solutions waives the transfer fee, making it more cost-effective for clients with large transfers.	Limited exotic currency coverage – While Currency Solutions supports 40+ global currencies, its coverage of exotic or less-traded currencies may be limited compared to some competitors.
4.	Favorable exchange rates – Currency Solutions offers competitive exchange rates with a margin of about 0.5% – 1% added to the mid-market rate, allowing clients to save on currency conversions.	No option for instant custom quotes – Currency Solutions doesn’t provide an immediate custom quote feature on their website, meaning clients need to contact them directly to get an accurate quote for their transfer.
5.	Global service coverage – With availability in over 160 countries, Currency Solutions provides a wide-reaching service for clients with international money transfer needs.	No 24/7 customer support – The provider doesn’t offer round-the-clock customer support, which can be an inconvenience for clients in different time zones or those requiring assistance outside regular business hours.
6.	Solid currency coverage – Supporting 40+ global currencies, Currency Solutions caters to a diverse range of currency requirements.
7.	Lots of experience – With years of industry experience, Currency Solutions has developed expertise in handling various international money transfer scenarios.
8.	Fast money transfers – Currency Solutions typically completes transfers within 3 hours to 2 business days, providing clients with speedy access to their funds.
9.	Quality business FX features – Currency Solutions offers valuable features for businesses, such as market orders and options contracts, helping them manage currency risks effectively.
10.	Dedicated account managers – Clients benefit from personalized support, as Currency Solutions assigns dedicated account managers to assist with their unique transfer needs and queries.

Currency Solutions Key Attributes

• Founded: 2003
• Headquarters: London, UK
• Other offices: Besides their head office in London, the company boasts an additional office in its home city and three other offices located in Amsterdam, the Netherlands, Dublin, Ireland, and Paphos, Cyprus
• Annual trading volume: Currency Solutions entered the big league in 2018 when it handled over £1 billion in international money transfer services for the first time in the company’s history. Since then, they maintain that number each consecutive year;
• Number of employees: As listed on their LinkedIn page, their team currently boasts 70 dedicated professionals;
• Trustpilot rating: The company scores a respectable 4.7 out of 5 stars on Trustpilot, demonstrating admirable customer satisfaction;
• Number of clients: As of March 2019, Currency Solutions have attracted over 150,000 customers who have registered with them. We have no data from a more recent date, but we’re confident that number has been steadily growing;
• Available countries: Currency Solutions’ reach is truly global, with money transfer services available in over 160 countries;
• Number of currencies: Currently, the company deals with over 40+ global currencies;
• Minimum transfer limit: A minimum transfer of £100 (or currency equivalent) keeps the opportunity of making small money transfers accessible for most customers;
• Maximum transfer limit: There’s no cap for transfers made over the phone. However, online transfers have a £20,000 limit for personal accounts and £50,000 for business accounts. It’s worth noting that both personal and business customers can make up to 3 international transfers per day;
• Transfer fee: A £10.00 fee applies to transfers under £3,000, while transfers above £3,000 are fee-free;
• Exchange rate markup: Currency Solutions add a margin of about 0.5% – 1% to the mid-market exchange rate;
• Sending money: Customers can fund their money transfers using their bank account or debit card (Visa or Mastercard);
• Receiving money: Funds are received directly into the recipient’s bank account. Currency Solutions doesn’t support cash pickups or any other receiving methods;
• Payments flexibility: Customers have the option to use Currency Solutions’ online platform or make money transfers by phone;
• Supported languages:  Currently, they only offer services in English;
• Regulated by: Currency Solutions operates under the watchful eye of the FCA (Financial Conduct Authority) in the UK. Their reference numbers are:
  • 602082, meaning they’re granted authorization to offer regulated products and services;
  • 512130, meaning they have permission to provide payment services, including conducting money transfer operations and issuing credit cards.
• Mobile app: Unfortunately, the company doesn’t currently offer a mobile app for easier account access and transfer handling. Many of the companies in the industry offer this feature, which puts Currency Solutions at a disadvantage at the moment;
• Awards: While there isn’t much information available about awards won by Currency Solutions, it’s worth noting that any awards or accolades received by a company like theirs can carry significant weight. Awards can help to validate a company’s commitment to excellence, showcase their industry expertise, and boost their credibility among customers and competitors. Throughout our research, we discovered that they’ve been recognized as:
  • The Best Currency Transfer Provider (Trade Finance Global Currency Awards, 2016);
  • Top-rated International Money Transfer Provider (Trustpilot, 2017 – 2020).

Currency Solutions Features

Let’s explore the different account types available with Currency Solutions and the perks that come with each. Then, we’ll follow with a rundown of the money transfer options and their respective benefits.

Account Types

Personal Accounts

Ideal for individuals, a personal account with Currency Solutions provides users with a range of services to make their international money transfers smooth and hassle-free. The benefits that come with a personal account include:

• Competitive exchange rates to help save money;
• Fee-free transfers above £3,000;
• Personal account manager for tailored guidance;
• Access to online platform and phone transfers;
• Forward contracts and market orders to lock in favorable rates;
• Regular payment plans for recurring transfers such as mortgage, bills, or pension;
• Transfers for luxury items and purchasing or selling property;
• Making medical payments.

Business Accounts

Designed exclusively for companies, business accounts with Currency Solutions help businesses manage their international payments with ease. The benefits of having a business account include:

• Expert guidance to navigate currency market volatility;
• Competitive exchange rates to protect profit margins;
• Personal account manager for bespoke advice;
• Access to online platform and phone transfers;
• Corporate FX solutions such as spot and forward contracts, market orders, and options contracts to mitigate currency risk;
• Bulk payments and mass payouts for streamlined operations.

Money Transfer Types and Benefits

• Spot Contracts:
  A spot contract allows users to make immediate international money transfers at the current exchange rate. This is ideal for urgent transfers and offers the following benefits:
  
  
  • Fast transaction processing;
  • Ideal for time-sensitive payments;
  • Simplified exchange rate decision-making.
    
    
• Forward Contracts:
  Forward contracts enable users to lock in the current exchange rate for future transfers, helping to protect against currency fluctuations. Unlike most international money transfer providers that cap the availability of a forward contract to 12 months, Currency Solutions don’t impose any time limit. The benefits of signing a forward contract include:
  
  
  • Reduced exposure to currency market volatility;
  • Protection of profit margins;
  • Enhanced financial planning and budgeting.

• Market Orders:
  With market orders, users can set a target exchange rate at which their transfer will be executed automatically. This type of transfer offers the following benefits:
  
  
  • Maximizes value by taking advantage of favorable exchange rates;
  • Provides control over exchange rate selection;
  • Saves time by automating the transfer process.

• Options Contracts:
  Options contracts provide users with the right to exchange currencies at a pre-agreed exchange rate on a future date. The benefits of using options contracts include:
  
  
  • Flexibility to capitalize on favorable exchange rate movements;
  • Protection against adverse market fluctuations;
  • Customizable to meet specific risk management needs.
    
    
• Regular Payments:
  For users with recurring transfers, Currency Solutions offers regular payment plans. The benefits of this service include:
  
  
  • Automatic scheduling of recurring transfers;
  • No need to remember payment dates;
  • Consistent exchange rates for better budgeting.

Currency Solutions International Money Transfer Costs

Understanding the costs associated with using Currency Solutions for international money transfers is what makes or breaks the deal for most customers. For that reason, we’ll break down the company’s transfer fees, exchange rates, and any additional fees you might encounter, so you can have a better idea if they’re the right fit for your particular requirements.

Transfer Fees

Currency Solutions charges a £10.00 fee for transfers below £3,000. However, if you’re transferring more than £3,000, the good news is that the transfer fee is waived. This means you can save on fees for larger transactions.

Compared to other similar money transfer providers, Currency Solutions holds a higher ground since there are many services that charge much more even for transferring large amounts of money.

Exchange Rates

When it comes to exchange rates, Currency Solutions offers competitive rates compared to many high-street banks and other money transfer providers. They apply a margin of about 0.5% – 1% to the mid-market exchange rate, ensuring you get a fair rate for your transfer.

This markup allows them to cover their operational costs and generate profits while still providing an attractive rate to their customers.

Additional Fees

While Currency Solutions doesn’t charge any hidden fees, it’s essential to be aware that intermediary banks or the recipient’s bank may apply their own fees when processing international transfers. These fees vary depending on the banks involved, and Currency Solutions has no control over them.

If you wish to understand how much your recipient will get before you initiate your transfer, you can talk to your dedicated account manager and they’ll do their best to discover if you might face any third-party fees.

How Safe is Currency Solutions?

When it comes to entrusting a company with your hard-earned money, it’s natural to be concerned about the safety measures that are provided by them. In this section, we’ll discuss the precautions Currency Solutions takes to guarantee that their customers’ funds are secure and well-protected.

Currency Solutions is regulated and authorized for work by the Financial Conduct Authority (FCA) in the UK. Their reference numbers 602082 and 512130 indicate that they have permission to offer regulated products and services, including issuing credit cards and conducting money transfer operations. This regulation ensures that Currency Solutions adheres to strict guidelines and maintains a high level of transparency in their operations.

To safeguard client funds, Currency Solutions holds customer money in segregated accounts. This means that client funds are kept separate from the company’s operational funds. That way, they make sure that customers’ money are well-protected even in the unlikely event of financial difficulties or insolvency.

Currency Solutions employ high-end security measures to protect their customers’ private and financial information. Their technology is comprised of secure servers that use advanced encryption methods to safeguard sensitive data and ensure it remains confidential and secure throughout the transfer process.

The company’s team of experts is well-versed in navigating the complexities of the global financial scene and handling sensitive international money transfers. Their experience and expertise contribute to the overall safety and reliability of the services Currency Solutions provides.

How Fast is Currency Solutions?

With online services reaching lightning-fast speeds, customers of money transfer providers expect their transactions to be completed as quickly as possible.

Currency Solutions strives to make international money transfers exceptionally speedy. We can safely say that transfers can take anywhere between 1 to 4 business days. It all depends on various factors like the destination country, currency, and local banking procedures.

In most cases though, the company is able to complete transfers in major currencies in just 3 hours to 2 business days. This is much faster than the industry average of 3-5 working days.

To speed up the process further, Currency Solutions offers expedited services for specific currencies and destination countries. Facilitating some transfers can mean faster completion, often on the same day or the next working day, depending on the cut-off times and other factors.

Currency Solutions’ team of experts works diligently to process transfers efficiently and accurately. By ensuring smooth internal processes, they can minimize delays and help customers get their money to its destination as quickly as possible.

The provider’s online platform allows customers to initiate transfers 24/7, ensuring that they can start the process whenever it’s most convenient for them. Additionally, their phone support provides personalized assistance for customers who need help or want to speed up their transfers.

If we compare Currency Solutions to other international money providers in terms of speed, we’ll notice that this company consistently delivers faster international money transfers. Their commitment to efficient processing, expedited services, and accessible customer support ensures that customers can send money across borders with speed and ease.

How to Use Currency Solutions

Using Currency Solutions to make an international money transfer is literally a breeze. Simply, follow this quick, step-by-step guide to ensure your money transfer successfully goes through.

• Step 1: Create an account
  First things first, you’ll need to set up an account with Currency Solutions. Access their website from a PC or smartphone and click on “Register”. There, choose your online account type – personal or business. Complete the registration form with your basic information and submit the required identification documents to verify your identity;
  
  
• Step 2: Obtain a quote
  Once your account is set up and approved, log in to the Currency Solutions platform or call their team to get a quote for your desired transfer. They’ll let you know what the current exchange rate is and if you’d incur any applicable fees based on the amount and destination of your transfer;
  
  
• Step 3: Book your transfer
  If you’re happy with the quote, go ahead and book your transfer. You’ll need to provide the recipient’s bank account details, including their name, account number, and bank’s SWIFT/BIC code. Confirm all the details are correct to ensure a smooth transfer;
  
  
• Step 4: Fund your transfer
  Next, you’ll need to transfer the funds to Currency Solutions. You can accomplish this by sending the amount using a bank account or linking a debit card (Visa or Mastercard). Be aware that your bank may impose limits on the amount you’re able to transfer via debit card;
  
  
• Step 5: Track your transfer
  Currency Solutions will take care of the rest. They’ll first convert your funds into the desired currency. Then, they’ll proceed to send them to the recipient’s bank account. To see at what stage your transfer is, simply log in to your account and access your dashboard. Contacting Currency Solutions customer support can also help you discover how your transfer progresses;
  
  
• Step 6: Confirmation
  Currency Solutions will send you a confirmation email once the transfer is complete, letting you know that your money is now safely in the recipient’s bank account.

That’s it! With just a few straightforward steps, you can use Currency Solutions to make international money transfers with ease and confidence. Give them a try and experience the simplicity and convenience they offer.

Currency Solutions’s Cancellation Policy

We all know that sometimes plans change, and you might need to cancel a transaction. Let’s discuss how Currency Solutions handles cancellation requests and refunds.

If you need to cancel a transfer, just give Currency Solutions a shout as soon as you can. Contact their customer support team via phone or email or call your dedicated account manager directly. Share the details of the transaction you’d like to cancel and explain the circumstances. They’ll do their best to help you out, so, the quicker you notify them, the better the chances of terminating the transfer.

Whether your transfer can be canceled or not depends on the status of the transaction. If the transfer is in its early stages or the funds haven’t reached the recipient’s bank, cancellation is usually possible. But, if they’ve already accepted your payment, it might be tricky or even impossible to get your money back.

If you manage to cancel the transfer successfully, Currency Solutions will work on refunding your money. Just remember that the refund might be subject to the current exchange rate since the initial rate was locked in when you booked the transfer. This means the refunded amount could be slightly different from the amount you originally sent due to exchange rate fluctuations.

There might be some additional charges associated with canceling a transfer too. For example, if Currency Solutions already incurred costs while executing the transaction, these costs might be deducted from the refunded amount.

Currency Solutions Customer Service

Regarding Currency Solutions’ customer service, clients generally have positive feedback about their experiences. In this section, we’ll go through the support options offered by Currency Solutions and the overall perception of their customer service.

Currency Solutions offers a variety of ways for customers to get in touch with their support team. They provide phone support, email assistance, and an online contact form on their website. This flexibility ensures that clients can reach out for help through their preferred method of communication.

Currency Solutions’ customer support is available during regular business hours. This provides clients with the opportunity to get the help they need at the moment they need it. While they don’t currently offer 24/7 support, the team’s efficiency and expertise generally make up for this limitation.

Customers often praise Currency Solutions for their personalized service. The support team is known for being responsive, friendly, and attentive to individual needs. They carefully evaluate each customer’s situation and provide tailored solutions, which is a significant factor in their high customer satisfaction ratings.

The company has received numerous positive reviews on platforms like Trustpilot, where they maintain a high rating. Many clients specifically mention the excellent customer service they’ve experienced, praising the support team for their responsiveness, professionalism, and helpfulness.

Currency Solutions Contact Information

UK and Ireland:

• Phone: +44 (0)20 7740 0000
• Office hours: Monday to Thursday from 8:30 am to 6:00 pm; Friday from 8:30 am to 5:00 pm

The Netherlands:

• Phone: +31 207 133 461
• Office hours: Monday to Friday from 8:30 am to 6:00 pm (CET)

Cyprus:

• Phone: +357 26 813 613
• Office hours: Monday to Friday from 9:00 am to 5:30 pm EEST (GMT+2h)

How Does Currency Solutions Compare With Its Competitors?

Let’s determine Currency Solutions’ standing within the industry by comparing them to some of the top competitors in the fintech world. We’ll start by highlighting their strengths and weaknesses, giving you a comprehensive understanding of their position in the market.

Currency Solutions Strengths

• Competitive exchange rates:
  Currency Solutions offers favorable exchange rates, with a margin of about 0.5% – 1% added to the mid-market rate. This edge in pricing is a significant advantage over many banks and some competitors, making them a more cost-effective choice for international money transfers;
  
  
• No transfer fees above £3,000:
  Another strong point for Currency Solutions is their fee structure. They don’t charge any transfer fees for transactions over £3,000, which is an attractive feature for clients transferring larger amounts. This can result in significant savings compared to competitors that charge a flat fee or a percentage-based fee for all transactions;
  
  
• Personalized service:
  Currency Solutions stands out for their personalized customer service, as we’ve discussed earlier. Their approach to understanding individual needs and providing tailored solutions is a significant differentiator when compared to some of the larger fintech companies that may lack the same personal touch;
  
  
• Market orders and options contracts:
  Currency Solutions offers market orders and options contracts, which can be advantageous for clients looking to secure favorable exchange rates or hedge against currency fluctuations. Not all competitors provide these advanced features, making Currency Solutions a strong contender for businesses and individuals with more complex requirements.

Currency Solutions Weaknesses

• No mobile app:
  While many competitors offer dedicated mobile apps for easy account management and transfers on the go, Currency Solutions currently doesn’t have a mobile app. This can be a drawback for clients who prefer the convenience of managing their transactions through a mobile device;
  
  
• Limited support hours:
  Currency Solutions’ customer support is available during regular business hours, which may not be ideal for clients in different time zones or those who require assistance outside of these hours. Some competitors offer 24/7 support, which can be more convenient for customers with varying schedules.

Currency Solutions vs. OFX

Feature	Currency Solutions	OFX
Feature	Currency Solutions	OFX
Founded in	2003	1998
Trading Volume	£1 billion in 2018	$140 billion
Trustpilot Rating	4.7 / 5	4.2 / 5
Suitable for	Both small and large money transfers.	Large money transfers
Transfer Fee	£10.00 fee for transfers below £3,000; £0.00 fee for transfers above £3,000.	AUD $15.00 under $10,000 (Australia); CAD $15.00 under $10,000 (Canada); HK $60.00 under $50,000 (Hong Kong); NZD $15.00 under $10,000 (New Zealand); No fee for rest of the world.
Average Exchange Rate Markup	A margin of about 0.5% – 1% added to the mid-market exchange rate.	A margin of about 0.4% – 1.9% added to the mid-market exchange rate.
Minimum Transfer Amount	£100 (or currency equivalent)	$1000 in the US; £100 in the UK; €2 in the EU; $150 in Hong Kong and Singapore; AUD $250 and its currency equivalent in the rest of the world.
Maximum Transfer Amount	No limit for transfers over phone; Online transfers: £20,000 for personal accounts; £50,000 for business accounts.	No limit
Transfer Speed	3 hours to 2 business days on average	1-4 days (the average time is 1-3 days for major currencies and might extend to 3-5 days for exotic currencies).
Dedicated Dealer	Yes	Yes
Countries Covered	Over 160 countries worldwide	190+ countries
Currencies Covered	40+ global currencies	55 global currencies
Payment Methods	Bank account and debit card (Visa or Mastercard).	Bank account
Receiving Methods	Bank account	Bank account
Cash Pick-Up Option	No	No
Instant Custom Quote	No. Quotes are available through email for registered users.	No. Quotes are available through email for registered users.
Business Features	Spot contracts, forward contracts, market orders, options contracts, risk management, regular payments, and online trading API platform.	Forward contracts, limit orders, spot transfers, recurring payments, rate alerts, and risk calculator.
Flagship Debit Card	No	No
Mobile App	No	Yes
Cancellation Policy	The company allows for transfers to be canceled and refunded if the transaction hasn’t been completed. Refunds may be subject to exchange rate changes and additional charges depending on the circumstances.	Each individual transfer’s cancellation can be discussed upon contacting an OFX representative.

Read our full OFX review.

Currency Solutions vs. TorFX

Feature	Currency Solutions	TorFX
Founded in	2003	2004
Trading Volume	£1 billion in 2018	Over £10 billion per year
Trustpilot Rating	4.7 / 5	4.9 / 5
Suitable for	Both small and large money transfers.	Both small and large money transfers.
Transfer Fee	£10.00 fee for transfers below £3,000; £0.00 fee for transfers above £3,000.	No fee
Average Exchange Rate Markup	A margin of about 0.5% – 1% added to the mid-market exchange rate.	Added to the mid-market exchange rate and varies between 1.9% for large transfers and 2.7% for small transfers.
Minimum Transfer Amount	£100 (or currency equivalent)	£100 (or currency equivalent); (£500 for recurring money transfers).
Maximum Transfer Amount	No limit for transfers over phone; Online transfers: £20,000 for personal accounts; £50,000 for business accounts.	No limit (£10,000 for recurring money transfers).
Transfer Speed	3 hours to 2 business days on average	0-2 business days on average
Dedicated Dealer	Yes	Yes
Countries Covered	Over 160 countries worldwide	Over 120 countries worldwide
Currencies Covered	40+ global currencies	More than 40 global currencies
Payment Methods	Bank account and debit card (Visa or Mastercard).	Bank account for all users; Bank account, debit/credit card, and check for UK bank holders.
Receiving Methods	Bank account	Bank account
Cash Pick-Up Option	No	No
Instant Custom Quote	No. Quotes are available through email for registered users.	No. Quotes are available through email for registered users.
Business Features	Spot contracts, forward contracts, market orders, options contracts, risk management, regular payments, and online trading API platform.	Spot contracts, forward contracts, market orders, limit orders, stop-loss orders, rate alerts, and automatic payments.
Flagship Debit Card	No	No
Mobile App	No	Yes
Cancellation Policy	The company allows for transfers to be canceled and refunded if the transaction hasn’t been completed. Refunds may be subject to exchange rate changes and additional charges depending on the circumstances.	Transfer cancellations are possible depending on the status of the transfer and the contract type. Cancellation and refund costs may incur.

Read our full TorFX review.

Currency Solutions vs. Key Currency

Feature	Currency Solutions	Key Currency
Founded in	2003	2016
Trading Volume	£1 billion in 2018	£2 billion per year
Trustpilot Rating	4.7 / 5	4.9 / 5
Suitable for	Both small and large money transfers.	Large money transfers
Transfer Fee	£10.00 fee for transfers below £3,000; £0.00 fee for transfers above £3,000.	No fee
Average Exchange Rate Markup	A margin of about 0.5% – 1% added to the mid-market exchange rate.	Margin added to the mid-market exchange rate, ranging from 0.2% for transfers above £200,000 to 1% for the smaller transfer below £5,000.
Minimum Transfer Amount	£100 (or currency equivalent)	No limit
Maximum Transfer Amount	No limit for transfers over phone; Online transfers: £20,000 for personal accounts; £50,000 for business accounts.	No limit
Transfer Speed	3 hours to 2 business days on average	1-2 business days on average
Dedicated Dealer	Yes	Yes
Countries Covered	Over 160 countries worldwide	Sending from the UK, EU, and Australia; Sending to 180+ countries.
Currencies Covered	40+ global currencies	37 global currencies
Payment Methods	Bank account and debit card (Visa or Mastercard).	Bank account
Receiving Methods	Bank account	Bank account
Cash Pick-Up Option	No	No
Instant Custom Quote	No. Quotes are available through email for registered users.	No. Quotes are available through email for registered users.
Business Features	Spot contracts, forward contracts, market orders, options contracts, risk management, regular payments, and online trading API platform.	Spot contracts, regular payments, forward contracts, limit orders, rate alerts, and market analysis.
Flagship Debit Card	No	No
Mobile App	No	No
Cancellation Policy	The company allows for transfers to be canceled and refunded if the transaction hasn’t been completed. Refunds may be subject to exchange rate changes and additional charges depending on the circumstances.	Customers must get in touch with the company to cancel transfers once they’ve been confirmed. Refunds are subject to Key Currency’s approval and granted on a case-by-case basis.

Read our full Key Currency review.

Currency Solutions Customer Reviews

When evaluating Currency Solutions based on online customer reviews, it’s clear that the overall opinion is generally positive. Many clients have shared their experiences on review platforms like Trustpilot, where the company has maintained a high rating.

Customers frequently praise Currency Solutions for their competitive exchange rates, no transfer fees for transactions over £3,000, and the personalized customer service they receive. The support team is often mentioned for their responsiveness, professionalism, and willingness to go the extra mile to ensure clients’ needs are met.

Some clients also appreciate the advanced features offered by Currency Solutions, such as market orders and options contracts, which cater to individuals and businesses with more complex requirements.

While there are occasional negative reviews or concerns raised by customers, the vast majority of feedback is positive. This indicates that Currency Solutions has been successful in delivering a reliable and efficient service, earning them the trust and loyalty of a large number of satisfied customers.

Positive Currency Solutions Customer Reviews

I requested a target exchange rate from Euro to USD whenever the market would allow me to get the exchange rate I was aiming for. Within 2 days I was called back for the confirmation of the targeted exchange rate and I proceeded to send the agreed Euro amount to Currency Solutions. The agreed amount of USD was transferred to my bank account as per initial plans with no problem whatsoever. I’m very pleased and impressed with the whole process which fits all my requirements.

– Mr. NFF

Have used Currency Solutions for 6 years since moving to France. Good personal relationship with my account manager. I transfer reasonably modest amounts three times a year, always fast, efficient online service confirming receipt and transfers. Any problems are quickly and efficiently dealt with by the team. I choose to deal personally with my account manager but online account service is also available.

– Dave Fitz

Having no idea how to handle money after my husband passed away as he always dealt with banking. Fiona at currency solutions sorted everything out for me to transfer money from the UK to Cyprus. The team is so friendly, professional and nothing is too much trouble for them. I would certainly recommend them to other people. Any problems I have, Fiona sorts it out and gives professional advice. A big thank you to one and all. Merry Christmas and may you all have a good 2021.

– Yvonne Scarborough

Every time I deal with my trader I receive a friendly and positive transaction. She has excellent knowledge of the product I need and will give an honest opinion if requested. I’m not sure how many years I have been dealing with currency solutions but it’s several. I have full faith in the people I’m dealing with. They’re professional, helpful and make me feel like I’m a valued customer, they will even call me back when on my mobile. I never feel pressured into making a decision and that with the excellent currency rate is why I keep returning to currency solutions.

– Keith Goymour

Negative Currency Solutions Customer Reviews

Not too bad – have improved. Had an issue in 2010 regarding transfer of money from UK to Cyprus whereby the amount was taken out twice resulting in a lot of frantic phone calls made by me and husband between Currency Solutions and Barclays at great expense and had to get very cross with a guy in the UK. Eventually it was sorted out by compensation of a bottle of wine and a begrudging apology!!! Seems transfers to-date have improved and the Paphos staff are very helpful.

– Heather Andrews

The exchange rate on your website is always more favorable for me than the exchange rate offered to me over the phone. At best, this is misleading. At worst, it’s unethical. After you received my dollars from America, you emailed me that assuming you had my correct British bank details you would exchange the dollars for pounds and deposit the pounds in my British bank. This is bad business practice. Your email should have at the very least confirmed my bank details and informed me that my money was on its way.

– Scott Varland

We have used Currency Solutions for a number of years, and although they can provide a good service it’s not always flawless. On the last two occasions we have used them ( to transfer funds to the UK) they have failed to transfer on the due date to our account, which has caused us problems. They appear not to have any proper complaint handling protocols or procedures. Although they belatedly provided a partial apology on the last occasion they still sought to avoid taking any responsibility for their errors or the consequences of them. A good company to use when things go right, but very poor when things go wrong.

– Andrew Pritchard

Currency Solutions Alternatives

CurrencyFair

CurrencyFair is a well-regarded player in the international money transfer industry. They have some unique features that may make them a better option when compared to Currency Solutions.

• Peer-to-peer marketplace:
  CurrencyFair features a P2P (peer-to-peer) marketplace, offering users the opportunity to exchange currencies with each other at a mutually agreed rate. This can result in more competitive exchange rates compared to traditional money transfer services;
  
  
• Mobile app:
  Unlike Currency Solutions, CurrencyFair offers a user-friendly mobile app, available on both iOS and Android devices. This allows customers to initiate and overview their transactions and accounts with ease, even when they’re not in front of their computers;
  
  
• Flat fee structure:
  CurrencyFair charges a transparent flat fee for transfers, which is often lower than the fees charged by banks and some competitors. This can make their service more cost-effective, especially for smaller transactions;
  
  
• 24/7 customer support:
  CurrencyFair provides 24/7 customer support, which is an advantage over Currency Solutions’ limited support hours. This is particularly beneficial for clients in different time zones or those who require assistance outside of regular business hours.

Currencies Direct

Currencies Direct is another prominent player that may be a more appealing option for certain customers when compared to Currency Solutions. Here are a few key differences between the two providers:

• Zero transfer fees:
  Currencies Direct offers zero transfer fees on all transactions, regardless of the amount being transferred. This can lead to cost savings, especially for clients who make smaller transfers that may not qualify for Currency Solutions’ fee waiver (which applies only to transactions over £3,000);
  
  
• Multi-currency accounts:
  Currencies Direct offers multi-currency accounts, which can simplify the process of receiving and managing funds in multiple currencies. This feature can be especially useful for businesses and individuals with global financial obligations;
  
  
• Mobile app:
  Unlike Currency Solutions, Currencies Direct provides a user-friendly mobile app for both iOS and Android devices. This feature allows customers to manage their accounts and transfers conveniently, even when on the move.

Wise

Known for a long time as TransferWise, this provider is well-known for the following features which differentiate it from Currency Solutions:

• Mid-market exchange rates:
  Wise is known for offering the mid-market exchange rate for transfers, which is often the most competitive rate available. They charge a separate transparent fee for their services, which can result in cost savings for clients, especially when compared to banks and similar competitors;
  
  
• Instant transfers:
  The company offers instant transfers for specific currency routes, providing faster transfer times than Currency Solutions’ average 2 business days. This feature can be advantageous for clients who need to make time-sensitive transactions;
  
  
• Multi-currency account:
  Wise offers a multi-currency account called the Wise Borderless account. This feature enables clients to hold and manage multiple currencies, receive payments in different currencies, and make international transfers with ease. This can be especially useful for businesses and individuals with frequent international transactions;
  
  
• Larger network of currencies:
  Wise supports transfers in over 50 currencies, providing a broader range of options than Currency Solutions’ 40 global currencies. This extensive network makes Wise more versatile for clients with diverse currency needs.

Conclusion

That’s a wrap on our deep dive into Currency Solutions.

As the world of fintech continues to disrupt the way we move money across borders, it’s essential to find a service that not only meets your needs but also keeps your hard-earned cash safe and sound.

Currency Solutions has proven itself to be a strong contender in the international money transfer arena, with its competitive fees, solid safety measures, and personalized customer service. While they might not have all the bells and whistles of some other big names, they’re a reliable choice for those seeking a more tailored experience.

Of course, it’s always wise to weigh your options before making a decision. Keep in mind that the perfect match for you might be just a few clicks away, whether it’s Currency Solutions, CurrencyFair, Currencies Direct, Wise, or any other international money transfer service.

F.A.Q.

Can I schedule recurring transfers with Currency Solutions?

Yes, you can set up regular transfers with Currency Solutions, which can be particularly helpful for clients who need to make recurring payments, such as mortgage payments, rent, or salary transfers.

How can I track my transfer with Currency Solutions?

When you initiate a transfer with Currency Solutions, you’ll receive a confirmation email with a reference number. You can use this number to track your transfer by contacting their customer service team.

Are there any discounts for frequent users of Currency Solutions?

Currency Solutions doesn’t offer explicit discounts for frequent users, but they do waive the transfer fee for transactions above £3,000, which can result in cost savings for clients who make regular or large transfers.

Does Currency Solutions offer any educational resources on currency exchange and international money transfers?

Currency Solutions provides some resources, such as blog articles and market updates, to help clients stay informed about currency exchange and the money transfer industry. However, their main focus is on providing a seamless international money transfer service.

Can I use Currency Solutions to transfer money to my own account in another country?

Yes, Currency Solutions is a suitable option for transferring funds between your own accounts in different countries, making it convenient for expats, travelers, or individuals with international financial obligations.

Can I receive international payments from clients through Currency Solutions?

Currency Solutions primarily focuses on sending money internationally. While they don’t offer a multi-currency receiving account like some other providers, you can still use their services to convert and transfer the received funds to your local account.

Are there any industries or businesses that Currency Solutions doesn’t support transfers for?

Currency Solutions adheres to strict regulatory guidelines and has a compliance process in place. As a result, they may not support transfers related to certain high-risk industries or activities. It’s best to contact their customer support team to discuss the specifics of your transfer requirements.

Does Currency Solutions offer any referral or affiliate programs?

Currency Solutions does have a referral program, where you can refer friends, family, or business associates. When your referral makes a qualifying transfer, you may receive a reward. Check out the terms and conditions of their referral program to find out all the details.