In the wake of the Coronavirus, we’re adapting our lists to meet your changing needs, so you can still do it all.

CurrencyTransfer Review

Top10 StaffByTop10 StaffApr. 15, 2019

In a Nutshell

CurrencyTransfer is an online marketplace that connects users with the best rates from a network of money transfer services. Through its partners, CurrencyTransfer gets its customers competitive rates on US dollar transfers to and from 22 currencies. CurrencyTransfer is sort of like an Amazon or Uber for money transfers. It connects users to the best deals from third-party providers and handles all parts of the transactions itself.


  • Great rates on large transfers
  • USD and 22 other currencies
  • Excellent customer support


  • Not suited to small transfers
  • Fewer currencies than some other services
  • Extra documentation required for some currencies

CurrenyTransfer CurrenyTransfer Visit Site

What You Need to Know

Transfer fee
No fees; exchange rate mark-up of 0.9%-1.0%
Transfer time
1-2 days
Transfer types
Bank-to-bank transfers
Daily transfer limit
No maximum, although there is a minimum transfer of $5,000
Transfer purpose
Personal & Business
24/7 support

CurrencyTransfer Fees and Rates

CurrencyTransfer doesn’t charge any fees. The only thing the customer pays is an exchange rate mark-up (commonly referred to as the margin or spread). Because CurrencyTransfer works with multiple suppliers, the margin can vary depending on the currency pair and the time the customer orders a transfer. Generally speaking, the more money you transfer, the lower the margin. 

We checked out the US dollar rate to euros, pounds, and a handful of minor currencies such as Polish Zloty, Hungarian forint, and Israeli shekel. We found that the spread was consistently in the range of around 0.9% - 1.0%, which is very competitive compared to most money transfer services.

As an example, let’s say you’re transferring $50,000 to euros, and at the time you request your quote the USD:EUR rate is 1:0.8850. CurrencyTransfer can get you rates as high as 1:0.8770. In effect, this means your recipient would receive 400 euros less than the mid-market rate, whereas the big banks typically shave off thousands of euros.

How Does It Work?

Because CurrencyTransfer is a marketplace, there are some subtle differences between it and direct money transfer services.

Here are the steps to making the first transfer:

  • Register for an account, using your name, contact details, preferred currency pair, and the estimated volume, frequency, and purpose of your money transfers. 

  • You may receive a call from a CurrencyTransfer agent to discuss your needs. Depending on your chosen currency pair, you may also be asked to sign a couple of documents which essentially authorize CurrencyTransfer to transfer your funds using one of its third-party services. All in all, the whole process doesn’t take much longer than direct services, and you should be able to make your first transfer the same day as registering.

  • Once approved, booking a transfer is simple. Select your currency and the recipient’s currency, check that you’re happy with the rate, and click “Book.” One thing to note is that CurrencyTransfer pulls in live, real-time rates from its partners. The rates keep refreshing every 15 seconds until you click “Book.”

  • Once you click “Book,” all you need to do is transfer the funds to CurrencyTransfer, using the reference number displayed on your screen (and sent to you by email).

  • CurrencyTransfer does all the rest, without any need for you to be in touch with the third-party service conducting the exchange and transfer. You can check into your account on the CurrencyTransfer website at any time to see the status of the transfer.

How Long Does It Take?

CurrencyTransfer matches most other major money transfer services for speed. Once your funds arrive in CurrencyTransfer’s account, you get an email notifying you that your transfer is being processed and it takes up to another 24 hours for the funds to be sent to your recipient. Depending on your recipient’s country and bank, it can take an additional 1-2 business days for the funds to appear in their account.

CurrencyTransfer Top Highlights

The unique thing about CurrencyTransfer is that it’s a money transfer marketplace. With CurrencyTransfer, users see the best live rates from up to 6 money transfer providers.

Here are some of CurrencyTransfer’s other top features:

  • Rate alerts sent to you by email or phone.

  • Forward contracts for any date in the next 12 months, based on the current rate. This usually requires a 5%-10% deposit.

  • Dedicated customer service agent for any time you have an issue or just want to know the status of your transfer.

  • $10 to $20 referral bonus each time someone uses your referral code to open a new account and make a first payment with CurrencyTransfer.

  • Add and manage recipients, so you don’t have to enter their banking details more than once.

Customer Support

As you’d expect of a service that specializes in large money transfers, CurrencyTransfer offers excellent customer service. Every customer gets their own dedicated customer service agent who they can call on whenever they have an issue. Customer support is provided 24 hours a day, Monday to Friday. The one downside is the lack of a dedicated US phone number.

Phone: (+44) 20-7096-1036

Live Chat: On CurrencyTransfer website

Address: CurrencyTransfer Ltd, 7th Floor, Minster House, 272-274 Vauxhall Bridge Road,

London, SW1V 1BB, United Kingdom

CurrenyTransfer CurrenyTransfer Visit Site

Privacy and Security

CurrencyTransfer is registered in England. It only works with money transfer services that are regulated by the Financial Conduct Authority, the British equivalent to the American SEC.

Bottom Line

CurrencyTransfer offers competitive rates on US dollar transfers to 22 other currencies and the lowest rates we could find for a number of currency pairs. Although CurrencyTransfer isn’t a direct provider, the difference is barely noticeable. The onboarding process is very smooth and comes with full customer support. The whole process of transferring funds from the sender’s account, converting the funds, and getting the funds to the recipient’s account, is just as quick as with other major providers.

Top10 StaffByTop10 StaffJun. 27, 2019
Our editorial staff is comprised of writers who are knowledgeable about financial services. We specialize in simplifying the process of choosing the right money transfer service for your needs.