CURRENCIES DIRECT
Currencies Direct (Foreign Exchange)
        
Currencies Direct is one of Europe's largest foreign exchange specialists. When you make private international payments you can benefit from their expertise in seeking the best possible rate, whether you are sending or receiving foreign currency. Currencies Direct help to protect you from exchange rate fluctuations and save you time and money on international payments. Whether you need to make a one-off payment immediately or require regular transfers to a bank abroad, they have the service available to meet your needs.
Credit Rating: D&B Level 1 rating
Location: UK, Spain, Canada, South Africa, Australia, India
Languages:
Advantages:
1. Free to open an account which can be ready to trade within hours
2. Guarantee the rate you receive is within 0.2%-1% of the live interbank spot rate.
3. Can generate a cost saving of between 0.5% to 4% when compared to a high street bank.
4. Currencies Direct charges no commission and no transaction costs
5. All client funds are secure as they are held in segregated client accounts by banking partner HSBC
Disadvantages:
1. You will undergo an ID check as part of the account opening process which for non-UK residents will require additional identification documents to be submitted.
Services:
1. Regular Payments.
2. Forward Contacts.
3. Spot Contracts.
4. Stop Loss Orders.
5. Limit Orders.

Established: 1996 FINTRAC M08690900
Spread/Margin: 0.2-1% based on volume
Costs/Fees: $0 above $5,000
Rate Improved With Volume: Yes
Transfer Methods: UK Bank to Foreign Bank or vice versa
Transfer Speed: Upon receipt of cleared funds US & Western Europe usually occur the same day. Rest of the world 24 hours
Transfer Minimum: $1,000
Trust Accounts: HSBC Trust Accounts

Online Trading Platform: No
Currency Converter: Click Here >>

Forwards:
Forward contracts are utilised by both private and corporate clients to effectively budget for their international payments. A forward contract enables the client to buy currency now at an agreed rate that can be drawn down at any point within the following 24 months. This is a perfect way for an overseas property buyer or private/corporate client who has a series of payments to make to budget for their purchase. The advanteages it offers are well illustrated by looking at what has happened to the GBP:EURO rates over the past 6 months.
Regular Payments:
The Regular Payments Plan is an excellent product designed for those private and corporate clients who have regular payments to make overseas.
 
For example overseas property mortgage payments, overseas school fees etc. The client can choose from a monthly or quarterly payment plan.
 
The minimum thresholds required to benefit from free transactions are: Monthly payment plan – Min $150 / month Quarterly payment plan – Min $400/month
 
The client can choose to have the money sent on either the 1st or 15th of the required month. The client can either fix the sending or receiving amount i.e. send $200 or beneficiary receives €200
Security Statement:
Specialist foreign exchange providers emerged approximately 12 years ago, lead by Currencies Direct. Over 800 foreign exchange providers now exist in an industry responsible for sending billions of pounds worth of currency on behalf of thousands of clients. At the heart of it all is the ability of these companies to provide private clients with better currency exchange rates than they would be able to achieve via their bank.
Terms and Conditions:
See website for details.

Number Of Currencies: 38
Currencies Available:
1. United Arab Emirates, Dirhams AED AED
2. Australia, Dollars AUD AUD
3. Bulgarian Lev BGL BGL
4. Canada, Dollars CAD CAD
5. Switzerland, Francs CHF CHF
6. Czech Republic, Koruny CZK CZK
7. Denmark, Kroner DKK DKK
8. Euro Member Countries, Euro EUR EUR
9. United Kingdom, Pounds GBP GBP
10. Hong Kong, Dollars HKD HKD
11. Hungary, Forint HUF HUF
12. Indonesian rupiah IDR IDR
13. Israel, New Shekels ILS ILS
14. India, Rupees INR INR
15. Japan, Yen JPY JPY
16. Kuwaiti dinar KWD KWD
17. Morocco, Dirhams MAD MAD 
18. Mauritius, Rupees MUR MUR
19. Norway, Krone NOK NOK
20. New Zealand, Dollars NZD NZD
21. Oman, Rials OMR OMR
22. Pakistan, Rupees PLZ PLZ
23. Qatar, Rials QAR QAR
24. Romanian lei RON RON
25. Saudi Arabia, Riyals SAR SAR
26. Sweden, Kronor SEK SEK
27. Singapore, Dollars SGD SGD
28. Slovakia, Koruny SKK SKK
29. Thailand, Baht THB THB
30. Tunisia, Dinars TND TND
31. United States of America, Dollars USD USD
32. South Africa, Rand ZAR ZAR
        
REVIEWS
Currencies Direct (Which Way To Pay - 9/4/2010)
Currencies Direct is ranked 4 out of 5. Based on 1 review.

4 Star Rating

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Currencies Direct
Currencies Direct