Currencies Direct

Currencies Direct Review by Rating: 4 out of 5

Currencies Direct Review

Currencies Direct has been voted 4/5 or 86% out of 571 recommendations. CurrencyComparison.co.uk has researched their Foreign Exchange Business and we can also give them a thumbs up for Foreign Exchange Currency Transfers.

Currencies Direct

Who are Currencies Direct

Currencies Direct Ltd is a UK-based foreign exchange company founded in London by Mayank Patel OBE and Peter Ellis in 1996. Currencies Direct has offices in the UK, the USA, China, Spain, France, Portugal, India, South Africa, and the UAE.. It also has operations in the Republic of Ireland, Scandinavia, and Malta, employing more than 300 people in offices around the world. In August 2015 Currencies Direct was acquired for more than £200 million by Corsair Capital and Palamon Capital. Currencies Direct offers foreign exchange services, forward contracts, risk solutions, affiliate partnerships and online services. Currencies Direct specialises in services for clients purchasing property abroad, emigrating or studying overseas. Business client services include assisting with importing and exporting, selling online or making other large and/or regular foreign exchange transfers.

Services Offered

Currencies Direct is not the industry leader one expects when considering they’ve served over 150,000 clients since 1996 and handled over £2 billion. Expanding globally is a great model for increasing profit, to be sure, but in order to compete with an innovative industry, Currencies Direct has to keep up with the younger companies who are still fired up about providing the best rates and service. Why doesn’t Currencies Direct have an app or seem to connect to its personal customer’s stories the way other large UK foreign exchange companies do? More importantly why can’t they work harder to provide a great rate? It’s passé to say ‘we can do better than banks’ and silly to simply do a titch better for personnel transfer. Bigger volume doesn’t equate to a better rate, proves Currencies Direct

Currencies Direct Currencies Direct / Money transfer made simple.

Why should I use Currencies Direct?

9.1 rating On TRUSTPILOT for Currencies Direct, with 1,108 reviews which are predominantly positive. Three complaints regarded poor exchange rate. One transfer of £120,000 found that his bank would have actually saved him money, proof that he was given a very poor rate of exchange. Another frustrated client waited over 3 weeks for funds to reach her beneficiary’s account- a stressful experience for a personal client or any business. Currencies Direct, the client fumed, wasn’t taking responsibility for the delay. Currencies Direct responded that they were ‘chasing up the responsible bank on a regular( not daily?) basis in order to resolve issue.

ReviewCentre gives Currencies Direct 3.7 out of 5 stars with complaints about very poor exchange rates. On a £1,000 transfer a client noted that she wasted time setting up the account and waiting for the money only to find that she’d only saved £10 over her bank charges and noted the process wasn’t worth the additional time it took. Another also found his service much slower than his bank’s with a meagre saving to show for the hassle. A business client was upset when he used Currencies Direct twice and, after having initiated his transfer with no compliance questions, he was asked to give many compliance necessary documents. Had he been directed to do so at the start, he’d have been able to organize this, but he experienced a frenzy of calls during business seeking data after he thought he’d completed the process. His customer service experience cost him 4 hours of business time.

Money transfer made simple

4 out of 5 stars. Good eTailer support, however Currencies Direct is not even trying to convince the client they offer the best spot rates. This older model of a foreign exchange firm is ready for a tune-up in these customer-centric times of ours!

Business Information

Registered office address: One Canada Square, Canary Wharf, London E14 5AA

Incorporated on: 16 March 2017

Telephone: +44 (0) 20 7847 9400

Email: customer.s@currenciesdirect.com