This Currency Solutions review will explain all about Currency Solutions exchange rates, overall offering, whether it’s best for corporate or private clients, how safe and reliable the company is, and whether you should consider it as your chosen currency provider.
Is Currency Solutions Reliable?
Currency Solutions is a rather large Foreign Exchange firm, that unlike other companies who handle both smaller and larger payments, focuses primarily on large transfers.
With 135,000 registered clients and £6Bn transferred since its establishment in 2004 Currency Solutions has remained a trusted provider for over 15 years and is especially recommended for large private transfers.
The company’s focus is on service, and the positive reviews it has received really reflect that goal. In comparison to all other companies in this domain, it has received the least amount of complaints. Our personal impression of the company also matches that of Currency Solutions’ clients., Every inquiry we’ve had has been addressed in a professional and corteous manner within hours.
Highest ranked international money transfer provider by review mega-site TrustPilot.
When a company is operating for over 15 years, with 135,000 retail and personal clients, and there are at least 2,150 reviews online praising it, with close to no complaints, you can rest assured it’s a trustworthy company.
We went to visit their London Offices at Hobbs court over at Jacob street in London (close to the financial district of the city and London Bridge). Our impression was highly positive. Everything is conducted in a professional manner and the team seems highly trained and efficient. It should be noted that they are working closely with a payment processing company named Zoopay (zoopay.com), and we believe these companies have the same ownership.
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Do Clients Like Currency Solutions? Currency Solutions Reviews from Across The Web
There are 2,150+ client reviews on TrustPilot and ReviewCentre.
TrustPilot TrustPilot has Currency Solutions rated at the very top of the money transfer category, with close to a perfect score of 4.9 / 5. There are only a handful of complaints, the two most recent actually praise the service and have obviously selected 1* by accident. All actual complaints have been thoroughly responded to by the company which is a positive sign.The vast majority of the reviews are 5 star reviews describing the perfect experience.
On ReviewCentre Currency Solutions rating is 4.5 / 5. There are three complaints we could identify, and 61 positive reviews.
In total 99% of clients are recommending Currency Solutions, which is simply astonishing.
The single complaint we received directly about the firm was successfully resolved. We were in direct contact with the company’s directors, who later met the client and has said they are extremely pleased with the outcome. Read more about our FX mediation services here.
Pros and Cons
- Slow to return funds when they haven’t been able to make payment for AML purposes
- One instance of the online platform being down
- One complaint about dishonest trader who did not honour a Forward Contract
It’s very easy to reach a conclusion in this case, since there are over 1,900 positive reviews, and 1 complaint. The conclusion is that Currency Solution offers the best service bar none, and deserve a perfect score in this category.
Currency Solutions Exchange Rate & Fees
Fees: No fees for transfers above £3,000.
The exchange rate offered by Currency Solution depends on the amount transferred and the currency involved. Similarly to other brokers, there are no upfront quotes, as they often change. Instead, you can apply freely for a quote and receive contact from a staff member within hours with an executable quote.
There are many testimonials that suggest that the quote provided by CurrencySolutions can beat other companies. It makes sense as Currency Solutions is a very specialised company, with little overheads and relatively small staff, and it is probable that very large transfers would induce very tight margins.
We also know that with certain currencies like the Brazilian Real – they have a unique local partnership which allows them to quote much better exchange rates than competitors.
Limits: Limits: The minimum transfer amount is £1,000 which makes the service not accessible for those looking to transfer small payments or remittances. There are remittance-oriented companies that will happily take on smaller clients.
There is no upper limit at all for phone transfers but online transfers are capped at £20,000 for private clients. Business clients can trade up to £50,000 online.
It is reasonable to believe that the no-fee (over £3,000) / tight margin combination will yield the best quote in the industry. The only downside is that the platform is limited and doesn’t allow larger transfers to be made. Given currency solutions focus on telephone transfers it’s possible, certainly for larger amounts, a better deal can be attained on the phone.
Global Reach & Service
Accepts Clients: Worldwide, with the exception of USA.
Currencies Handled: 34 appearing on website, plus the recent launch of PHP and IDR. It’s possible to inquire about additional currencies on the telephone.
Client Reviews: 99% of the clients who submitted their reviews online praise the level of support and service. Our first-hand experience with them back this up.
Currency Solutions is the expert when it comes to service, a fact we have already established in this review. The only downside in this category is the fact that there are not translations to the website. Even though it does accept clients from most countries, there’s a feeling it’s a tad UK-centric. Perfect for British expatriates particularly in Spain and Cyprus.
- Forward Contracts. (Not limited to 12 months)
- Participating Forwards.
- Custom Structures for Corporate clients.
- Protection Option.
- Risk Reversal.
- Contracts for precious metals.
- Corporate clients can integrate their account with Xero
- You can easily add new users to Corporate accounts and set permissions such as dual approval to make payments.
The site is mobile friendly and loads perfectly on every mobile device and tablet, but an app is not a part of their offering.
The online platform is good but has limits on the amount you are allowed to transfer and there is no currency solutions app – fortunately the website is mobile responsive. When we consider the actual forex products on offer though, with even options contracts available to corporate clients, it’s a very strong area for Currency Solutions. The firm will build custom offerings based on individual client needs.
Currency Solutions Review
- Credibility Score - 90%90%
- Client Feedback Score - 95%95%
- Fees, Exchange Rates Score - 90%90%
- Global Reach, Availability, Service Score - 94%94%
- Added Values Score - 94%94%
Our Currency Solutions review demonstrates that it is a great company to deal with. Excellent service, extremely high user satisfaction,and competitive and transparent exchange rates make Currency Solutions one of our top recommendations. Just as it’s been for the last 7 years.
Whether you are looking for a currency provider for your corporation, small business, or personal needs – if you have a significant requirement, Currency Solutions can fulfill it well.