Currencies Direct

Currencies Direct
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Currencies Direct is a leading international payments and foreign exchange company providing simple and cost effective ways to move your money, whilst beating the high street Banks on rates and service.

Fluctuations in foreign exchange rates and the complexity of making an international payment can have a bad effect when you are purchasing or selling your dream home, investing or making regular transfers abroad.


- Authorised and Regulated by the FSA and HM Revenue & Customs
- In 2010/2011 Currencies Direct Limited transacted over $2.5 Billion in foreign exchange
- Currencies Direct was the first independent foreign exchange company outside of the banking world.
- Currencies Direct is one of the largest independent private and commercial foreign exchange providers with offices in 5 continents
- Easy and secure payment process 
- Segregated client accounts held with HSBC

Besides saving you money, Currencies Direct focuses and work every day on ensuring that your experience with the company makes you come back.

You will always speak directly with one of the foreign exchange specialists providing you with a straight forward, jargon free service.

Currencies Direct

Margin   0.7%
Margin explanation   Currencies Direct rate of exchange, which is commonly two to three per cent better than the rate high street banks offer is based on an average of 1% on top of the Interbnak rate.
Financial service authority Regulated  YES
HM revenue & Customs Regulated  YES
Fee  £0 for all trades in excess of £5,000; £0 for transfers through the Overseas Regular transfer Plan; £10 for anything under £5,0000
Minimum transaction   £150
Trust account   HSBC and Barclays
Transfer options Bank to Bank transfers, cash and Pre-paid Euro cards. Online ordering system
Currencies Over 60 currencies
More: Improved FX Rate with Larger Volume; Online Registration and online international payments

Forward contracts

Buy now, pay later. These allow you to secure a rate for up to 18 months in advance to protect yourself against any movements in the market. A small deposit holds the rate until the balance becomes due when the currency contract matures. This option not only protects against possible drops in the exchange rate but also gives you the security of the currency you need at a guaranteed cost, regardless of fluctuations in the market.

Open forward contract

This is similar to a forward contract, but allows you the flexibility to transfer some or all of your funds prior to the maturity date. If you have to make staged payments for your property or simply require more flexibility than a fixed forward contract allows, this could be ideal for you. Your foreign exchange trader will explain and tailor an open forward contract to your specific requirements. This product is popular with clients who have payments due on set dates in the future, for example, completion on a property.

Limit Orders

Allow you to place an order in the market for a desired exchange rate. This has the advantage of protecting you against negative exchange movements whilst still allowing you to gain from a positive movement. Your request is entered into the system and an automatic currency purchase is triggered once the market hits your specified rate. Using the options above clients can save thousands of pounds on their currency transfers what better way to kick start your life abroad?

Regular international payments

Once you have become the owner of your dream property, it is highly likely that you will need to send regular monthly payments from home whether for mortgage payments, maintenance expenditure or transferring pensions or salary. Using a reputable foreign exchange company can make this process hassle free and they are likely to offer you better terms than your high street bank. By setting up regular monthly direct debit payments you can benefit from extremely competitive rates without the monthly worry.

- Free transfers
Most banks typically charge between £10 and £40 on every monthly transfer.

- No hidden cost in the exchange rate!
On small amounts a bank will normally use a tourist rate, this is quite similar to the rate you would receive when purchasing your travel money at a bureau de change. Currencies Direct offer commercial rates on all regular transfers, giving you more and costing you less.

- No commission
There is also no commission charge when making regular transfers abroad through Currencies Direct, regardless of the amount.

- Low minimum amount
The minimum amounts can be as low as £150 for monthly transfers and £400 for quarterly transfers.

- Peace of mind
Once you have set up your Overseas Regular Transfer Plan you can sit back and relax safe in the knowledge that each month your money will automatically be taken by Direct Debit and transferred to your chosen account - so you won’t have to lift a finger.

Foreign Currency Account opening procedures for Non-UK Nationals and Overseas Clients

Opening an account takes just a few minutes of your time and there is no obligation to use the service of Currencies Direct afterwards. Once your account is open you are in a position to obtain rates and save money on your international payments.

In accordance with Money Laundering Regulations Currencies Direct are required by HM Customs and Excise to carry out identity checks before registering a new client. Currencies Direct is committed to making compliance with these regulations as easy as possible for our clients by carrying out electronic verification checks (UK residents only).

If you are not a UK resident you will need to provide us with original certified photocopies of your passport or driving licence and a recent utility bill or bank statement.

Security of Client Funds

All clients funds are held in HSBC secure client accounts.

Under the Money Laundering Regulations 2003, commercial foreign exchange companies are treated as "Money Service Businesses" which are covered by regulations administered by HM Customs & Excise. Activities falling within the scope of the Money Service Business include the operations of bureau de change, transmission of money by any means and the cashing of third party cheques. Currencies Direct hold a certificate of registration for Money Laundering Regulation (MLR). Registration number: 12132225.

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1 GBP = 1.221 EUR
2.513 AUD - Australian Dollar
2.361 CAD - Canadian Dollar
2.539 CHF - Swiss Franc
12.456 HKD - Hong Kong Dollar
2.694 SGD - Singapore Dollar
1.601 USD - U.S. Dollar
9.835 ZAR - South African Rand

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