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QUICK SUMMARY
Currencies Direct is a commercial foreign exchange company that sells and purchases more than 40 currencies, making transferring payments easier, quicker, and more reliable.
Currencies Direct—An Overview
Currencies Direct is a commercial foreign exchange company that sells and purchases more than 40 currencies, making transferring payments easier, quicker, and more reliable.
Who are they?
Founded in 1996 by Mayank Patel, Currencies Direct claims to be the first-ever business in Europe that would transfer money.
By whom are they regulated?
Palamon Capital Partners now owns the foreign exchange company; they acquired the company in August 2015 for just £200 M. The Blackstone Tactical Opportunities fund it for its successful operations in multiple locations.
From where do they operate?
Currencies Direct’s headquarters in London deals in more than forty currencies and transfers funds to more than 140 countries.
The funds of both personal and corporate clients at Currencies Direct are never processed without a segregated bank account. This segregated bank account ensures that a customer’s personal and banking credentials are kept confidential in any case. In 2020, the money transfer provider made 550,000 payments trading £7.5bn in currency.
The money transfer provider has more than twenty branches in London, France, Spain, South Africa, Portugal, the USA, and India.
Which currencies do they allow?
The Currencies Direct products consist of routine transfers, spot contracts, forward contracts, rate watches, limit orders, stop loss orders, and various payments. It also gives overseas transfer of funds for emigration, property, regular payment, travel money, online money transfer, provides payments for international art and antique, corporate, business account, currency options, and risk assessment tools.
Currencies Direct not only transfers the money for its clients but also has a huge retail presence, internet service, phone service, and mobile app service. This huge presence of Currencies Direct has attracted over 325,000 individuals, and businesses, irrespective of their kind and size, have cut off time, effort, and money.
How does Currencies Direct work?
Currencies Direct is for modern clients who cannot afford to waste time transferring funds overseas. The foreign exchange company helps the client’s transfer funds online or through the company’s app. The transfer of funds takes place within just ten (10) minutes.
Rating:
Currencies Direct is unique from others on the market because the FCA directs the money transfer company as an Electronic Money Institution. Moreover, Currencies Direct reached level one credit with Dun & Bradstreet. It is a huge accomplishment for any British money transfer company. This rating also shows its credibility among the audiences.
Fees and rates:
The good part is that Currencies Direct has great rates, zero transfer fees, no hidden charges, and 24/7 customer support services, whether a client transfers the funds online, over the phone, or by using the app. The transfer of funds is easier and more secure with Currencies Direct.
Other key points:
- Transfer the funds more quickly and securely
- Purchase currency in advance
- Make rate alerts
- Check live rates of more than 40 currencies on the go
How can a business use Currencies Direct?
The businesses can open local collection accounts on the go and forecast risks with Risk Management Tools while operating internationally in different currencies.
