Exchange Rate & Fees
Fees: None at all.
Exchange Rates: 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 be contacted by the staff 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 a 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 unique local partnership which allows them to quote much better exchange rates than competitors.
Limits: The minimum transfer amount is £1,000 which makes it not accessible for those who are looking to transfer small payments or remittances. There are companies like World First that will happily take on smaller clients.
There no upper limit at all, for both phone transfers and via the online platform. Most online platforms are quite limited, allowing transfers of £10,000-£50,000 tops, but with Currency Solutions, which deals with many businesses that transact large volumes constantly, there are no limits at all.
It is reasonable to believe that the no-fee / tight margin combination will yield the best quote in the industry. The only downside is that the platform is limited and doesn’t allow smaller transfers to be made.
Exchange Rates & Fees Rating