Currencies Direct was established in 1996. Since then the company has grown into international payment institution with 20 branches opened all over the world.
The headquarter is in the UK, while other offices are in Canada, India, Portugal, South Africa, Spain and the USA. It holds relevant regulatory licenses in several jurisdictions. In the UK Currencies Direct is authorized by the Financial Conduct Authority as an Electronic Money Institution under the Electronic Money Regulations 2011.
In the USA it has been regulated by the Financial Conduct Authority (FCA) since 2009. Currencies Direct is registered as a Money Services Business at federal level with the Financial Crimes Enforcement Network (“FinCEN”), a bureau of the U.S. Department of Treasury. In addition, Currencies Direct Inc. is licensed as a Money Transmitter in the relevant state regulatory agency in the US.
It is also regulated in South Africa, Canada, and Spain.
In 2020 Currencies Direct won the Money Age ‘Money Transfer Provider of the Year’ award. It has a high rating of 4.8 (Excellent) in Trustpilot.
Currencies Direct serves private and corporate clients and primarily it offers international money transfers.
Why clients highly value Currencies Direct?
- Remote account opening;
- International transfer with different methods, like bank transfers, direct debits and cheques;
- Forward contracts, order limits and spot contracts available;
- Rate alerts;
- 40 currencies for outgoing payments;
- Free account opening;
- Excellent customer support.
Main Features
| Transfer Fees | 0% |
| Exchange Rates | Mid-market rates |
| Incoming Payments | in GBP, EUR, USD, JPY only |
| Outgoing Payments | in over 40 currencies |
| Account Types | PersonalBusiness |
| Supported Countries | 188 |
| International transfers | SWIFT, IBAN, SEPA |
| Website | https://www.currenciesdirect.com/en |
Opening an account
It takes up to 5 business days to open an account in Currencies Direct. Customer verification requires all clients to submit personal and/or corporate documents. Enhanced due diligence is made for high risk clients.
Once your account is approved, a personal manager will be assigned to your account. Currencies Direct is especially favored for a professional customer support via email, phone, live chat and social media platforms.
Personal Account
Since money transfer is the main feature of Currencies Direct, personal accounts can be opened to access 24/7 online platform and make international transfers. Customers can enquiry for best deals on higher amounts over the phone.
Business Account
A business account gives access to different incoming and outgoing payment options. Incoming payments are limited to 4 currencies, while outgoing payments can be made in over 40 currencies.
Currencies Direct provides tailored-made solutions for online sellers, including Amazon sellers.
Currencies Direct supports small and medium sized business by providing market analysis, business insights, case studies, whitepapers, webinars, etc.
Managing an account
Currencies Direct is proud of its multi-functional online platform that customers use to manage their accounts. Among the features are live exchange rates, an option to set rate alerts, updates on transfer status.
In addition, customers can opt to use transfer options that would help to secure funds against currency volatility, such as:
- Spot contracts: spot contracts are used for instant transfers and the exchange rate is held during the transfer
- Forward contracts: these contracts are used in order to fix a particular rate for up to one year. Forward contracts are needed to avoid currency volatilities
- Limit Orders: you can set a limit, below which a transaction will not be initiated. It helps to avoid unfavorable rates
Customers can also set recurring payments if you need to send money to a particular recipient on a regular basis.
Security
Currencies Direct is regulated by the Financial Conduct Authority as an Electronic Money Institution under the Electronic Money Regulations 2011 in the UK. It holds a relevant license. It is also regulated in other jurisdictions where it operates, including South Africa, Canada, Spain, USA. It is classified as a low risk company in accordance with the reputable ranking of Dun & Bradstreet Corporation. In accordance with the Financial Conduct Authority regulations, customers’ funds are secured separately from Currencies Direct own business accounts. All funds are held in segregated accounts, so that money will be safe in case of any financial problem with Currencies Direct.
Currencies Direct implements TLS encryption for data protection and password security regulation.
Open your account with Currencies Direct here!
