Currency Solutions Review: Praised by Clients

By 
Matt Di Vincere (Chief Editor)
Last Edited Sep 13, 2023

Should I use Currency Solutions?

Pros:

  • Good Reputation Over Multiple Decades
  • Personable and Friendly Staff
  • Dedicated Dealer from £5,000 Transfers
  • Expertise in Small Business Sector
  • Online Trading System
  • Continued Market Analysis
  • Variety of FX Hedging Tools Such as Forwards
  • Attentive and Responsive to Complaints

Cons:

  • Smaller and Lesser Known Than its Major Competitors
  • Not Offering Multi-Currency Accounts
  • Not Offering Money Transfer App
  • High Minimum Transfer Size
  • Lack of Client Reviews in Recent Years

Is Currency Solutions Safe to Use?

Safe, 9/10

Services Offered by Currency Solutions

  • Transfer Money Abroad to a Bank Account
  • Transfer Money Online, via Email or Via Phone
  • Receive Payments from Abroad
  • Business FX & Hedging
  • Dedicated Dealer Readily Available
  • Rate Alerts
Overall rating92.6%
  • star-100
  • star-100
  • star-100
  • star-100
  • star-50
Updated on Sep 13, 2023
Aggregated User Votes
thumbs-up2872
thumbs-down73

Current Rates?

🏆 3 Industry Awards (2017-2020)

Where is Currency Solutions?

Currency Solutions Review: Our Opinion

Currency Solutions is an experienced foreign exchange provider with one of the best client review scores in the industry. They are known to go above and beyond for both private and business clients, which is evident by their 99% positive review rate, praising the quality of service.

At Money Transfer Comparison, we have been tracking Currency Solutions for the past decade. While they may not be as innovative as many of their competitors, having introduced few new products, they remain steadfast in their commitment to traditional values. This includes providing attentive customer service and demonstrating expertise in the currency markets.

If your concern is whether Currency Solutions is safe or should you consider using it for large transfers, the answer is a resounding yes, as our Currency Solutions review has determined that the firm continues to be one of the leading currency brokers in the UK.

Is Currency Solutions Safe? Legit?

Regulated by: Financial Conduct Authority (UK)
Company Size

Currency Solutions is an established London-based Foreign Exchange firm that, unlike other companies who handle both smaller and larger payments, focuses primarily on large transfers.

The FX firm is arguably the epitome of the traditional currency broker model which emerged in the UK in the late 90’s and early 00’s. By specialising in only foreign exchange, Currency Solutions incurs significantly less overheads than multi-purpose banks and are thus able to offer foreign exchange services at a lower cost. By specialising only in FX, it also means the team is highly experienced in this field too.

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 and is only beaten by top ranked providers on Money Transfer Comparison like Currencies Direct and TorFX. Our personal impression of the company also matches that of Currency Solutions’ clients. Every enquiry we’ve had has been addressed in a professional and courteous manner within hours.

When a company has been operating for over two decades, with 135,000 personal and business clients, and there are at least 3,000 reviews online praising the quality of the service (with close to no complaints), we feel confident in saying Currency Solutions is a safe money transfer service to use for small and large sum overseas transfers.

Awards

Highest ranked international money transfer provider by review mega-site TrustPilot.

Conclusion

Previously, Currency Solutions was the highest ranked international money transfer provider by review mega-site TrustPilot.

Conclusion

Currency Solutions has successfully transitioned from a start-up to a leading independent FX and international payments company. The two co-founders Harry Enver and Robert-Lee Griffith have remained with the company since inception and are joined by other senior managers who have vast experience in foreign exchange.

With over 20 years of experience, one of the best client review scores in the industry and millions of transfers processed, we deem Currency Solutions as a safe option for your next international transfer.

90% Credibility Score.

Offices

We went to visit Currency Solutions’ London HQ in Hobbs Court, Jacob Street. The office is close to the financial district of the city and our overall impression was highly positive. Client service is conducted in a professional manner and the team seemed highly trained and efficient. It should be noted that Zoopay (zoopay.com) is part of the Currency Solutions group and is also run from Hobbs Court. This niche fintech for the travel industry provides an automated solution to take bookings in multiple currencies.

currencysolutionsoffices2-min

currencysolutionsoffices1-min



*These images are exclusive to MoneyTransferComparison.com. If you wish to incorporate them in your website you may do so with attribution to this page.


Do Clients Like Currency Solutions? Currency Solutions Reviews from Across The Web

Research

There are 3,000+ client reviews of Currency Solutions on TrustPilot, Facebook, Google Reviews and ReviewCentre.

TrustPilot has Currency Solutions rated towards the top of the money transfer category, with an excellent score of 4.7 / 5. This is only beaten by Key Currency, TorFX and MoneyTransferComparison’s no.1 ranked provider Currencies Direct. There are just under 20 complaints, dating back to 2016, meaning the firm has received roughly four complaints every year over the last five years – quite a remarkable feat given some firms can receive more complaints in a day. Importantly, all complaints have been thoroughly responded to by the company which is a positive sign. And it would appear that on a number of occasions the issue has resided with a beneficiary bank or compliance/AML procedure that Currency Solutions are required to adhere to.

93% of reviews are 5 stars and describe the perfect experience. Members of the Currency Solutions’ team are often specifically mentioned, with many customers referring to the fact they’ve had the same contact for 5+ or 10+ years. Whenever guidance is required, it seems Currency Solutions is always just one phone call away. For individuals and businesses who prefer to do business over the phone, or at least know they have a contact to speak to should something go wrong, then Currency Solutions is a great choice. A further 6% of reviewers rated the service as 4 / 5, meaning a total of 99% of clients are recommending Currency Solutions, which is simply astonishing.

The most notable concern is the scant number of reviews the firm has received in recent years. In 2023, only one review has been posted so far, putting it on track to fall short of the six reviews from 2022. This dearth of recent feedback has led to a dip in Currency Solutions’ TrustPilot score. Despite having 99% positive reviews — higher than any other company — their score has dropped from 4.9 / 5 to 4.7 / 5 due to the lack of recent reviews.

Elsewhere, on Facebook, Currency Solutions boasts a 4.9 / 5 score based on 141 reviews. On Google, the firm receives a 4.8 / 5 score based on 330 reviews. On ReviewCentre, Currency Solutions rating is 4.6 / 5 based on 64 reviews. As of 2023, there are three complaints we could identify on ReviewCentre, and 61 positive reviews.

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 have said they are extremely pleased with the outcome.

ADVANTAGES

  • Efficient service, delivering money on time
  • Long-standing customers
  • Excellent customer service, always happy to provide guidance over the phone
  • Straightforward online platform
  • Local support in Cyprus

DISADVANTAGES

  • 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
Conclusion

With over 3,000 positive reviews and under 20 complaints, it’s quite easy to reach the conclusion that Currency Solutions offers one of the best customer experiences in the industry, and deserves a near-perfect score in this category.

Our only concern is the dramatic drop off in customer reviews over the last two years. There is a huge swathe of evidence suggesting Currency Solutions has been a trusted FX provider for two decades but a lack of recent reviews is now starting to damage their TrustPilot rating. We have no reason to doubt the quality of their service but with close to 0 reviews over the last year, it makes it hard to tell one way or another if the customer experience has improved or worsened.

95% Client Feedback Score.

Currency Solutions Exchange Rate & Fees

Research

Fees: No fees for transfers above £3,000.

Exchange Rates: The exchange rate offered by Currency Solutions depends on the amount transferred and the currency involved. Similar to other brokers, there are no upfront quotes, and larger transfers can be negotiated. Users can apply freely for a quote online and receive contact from a staff member within hours. Providing your account is live and all necessary KYC checks have been passed, the exchange rate can then be agreed over the phone or you can agree to the exchange rate presented online.

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: The minimum transfer amount is £1,000 which means the service is not accessible for those looking to transfer small payments or remittances. There are remittance-oriented companies that will happily take on clients sending smaller volumes.

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.

Conclusion:

It is reasonable to believe that the no-fee (over £3,000) / tight margin combination will yield a competitive quote by industry standards. Though one should also expect to pay more for dedicated dealer guidance and the account management that Currency Solutions provide, especially compared to online-only services such as Wise. It’s possible that guidance from an account manager could actually net users a better exchange rate by timing the markets correctly, rather than simply opting for the provider with the lowest fees/tightest FX spreads.

One quite clear downside is that the platform is limited in the amount that can be sent 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.

90% Fees, Exchange Rates.

Global Reach & Service

Research:
Dedicated Dealer: Yes.
Offices: UK Cyprus Ireland Netherlands

Translations: None.

Accepts Clients: UK & Europe.

Currencies Handled: 34 appearing on the Currency Solutions website, plus the recent launch of PHP and IDR. It’s possible to enquire 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 backs this up.

Conclusion:

Currency Solutions has offices in four different countries – UK, Ireland, Cyprus and Netherlands. It’s not clear whether the firm gets its EU financial passporting rights through its presence in Ireland or Netherlands, but both countries have highly respected regulators that are up there with the FCA. By having a European presence, Currency Solutions has been able to seamlessly offer its services throughout the EU, as well as the UK, following Brexit.

Currency Solutions is the expert when it comes to service, a fact we have already established in this review. The main downside when it comes to international service is the fact there are no translations to the website. Even though Currency Solutions accept clients from most countries, we think it’s a tad UK-centric. UK residents and British expatriates, particularly those in Spain and Cyprus, are most likely to enjoy the benefits that Currency Solutions can provide.

 

94% Global Reach, Availability, Service Score

Additional Functionalities

Hedging:
  • 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.

Conclusion:

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. From a technological perspective, Currency Solutions is behind competitors like moneycorp and Wise. However, when we consider the actual forex products on offer, with even option 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.

94% Added Values Score

Currency Solutions ScoreBoard
93%
93 of 100 1 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%

Currency Solutions Review Summary

First and foremost, Currency Solutions is a safe and trusted money transfer provider that’s been operating for two decades.. Its credibility has been built through excellent service, extremely high user satisfaction, and competitive exchange rates for larger transfers. Despite a lack of recent feedback, Currency Solutions is still the only FX provider to have received 99% positive client reviews. For this reason, it’s still one of our top recommendations.

Whether you’re a corporation, small business, or individual — if you have a requirement to move a significant sum overseas — Currency Solutions can fulfil it well. We particularly recommended the service for those who prefer their dealings over the phone and want to be less reliant on an online platform. Services like this are arguably a dying breed these days but there remains a substantial number of people who prefer to speak to a real human, and companies like Currency Solutions fulfil this need excellently.

 

Subscribe
Notify of

30 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments