We've hand-picked the top three UK foreign exchange brokers that we believe offer the best exchange rates and excellent customer service. These brokers can compete with each other to offer you the best deal. Just fill out our quick quote form below and let our carefully chosen partners battle each other to give you the best quote. (Find Out More)
Request quotes from (tick all that apply):
If you need to send money abroad or receive currency from an overseas bank account, a dedicated foreign exchange broker can manage the entire transaction for you at a fraction of the cost of high street banks. There is no catch - these brokers offer no commission and no hidden fees on the excellent service they provide; they just offer straightforward, honest exchange rates with none of the jargon. Request a quote today using the form above and we'll get our top three brokers to battle each other to bring you the best deals so you don't have to waste time on shopping around. We are so confident that our carefully selected partners can save you money on your transfer that we challenge you to let us know if the quotes you receive can be beaten anywhere else!
Once you submit your quote request we will share it with our carefully chosen partners who will compete with each other to offer you the best quote. You will be contacted by each of the brokers specified (a maximum of three unless you specify otherwise) who will offer you a complete quote that is tailored towards your specific needs. Quote requests are completely free and you are under no obligation at all to accept any of them, although we are sure you will find them extremely competitive and unbeatable on the high street.
No, never. We will share your details only with the carefully chosen partners above (a maximum of three unless you specify otherwise). Once each of them have provided you with a quote you will not hear from them again unless you decide to go ahead with the transfer. Your details will not be used for any other purpose and will never be sold or passed to any third parties so you can be confident your details are totally safe and secure with us.
The money transfer process is extremely straightforward. After submitting your request using the form above you will be contacted by each of our money transfer partners who will offer you a quote for the transfer which will consist of the exchange rate you will receive and any other applicable fees. If you go ahead with a quote you will be given detailed instructions on how to continue but the basic process is as follows:
You will need to transfer the funds to the broker's account and provide them with the recipient bank account details. The broker will then exchange the funds into the appropriate currency and electronically transfer it over to the recipient account, usually within 24 hours.
The sender will need to transfer the funds to the broker's account using the account details provided. The broker will then exchange the funds into GBP and transfer them into the recipient account, usually within 24 hours.
Money transfers are extremely secure. All online transactions use the same high level of encryption as used by high street banks and retailers and your personal details are held securely in accordance with all applicable UK laws. All of the money transfer brokers that we work with are regulated with the Financial Conduct Authority (FCA) for your security and all brokers are registered and licenced with HMRC for the provision of foreign exchange services. In addition, all customer funds are held securely in segregated client accounts for added protection and peace of mind.
Regrettably we are not able to offer transfer services to / from all currencies for a variety of political and economical reasons. The list of exchangeable currencies is always changing, but if the currency you need isn't on our list above we suggest you try your bank to see if they can help.
No, unlike most high street banks our partners do not charge commission and there are no hidden fees. The exchange rate you are quoted is the rate you will receive, although due to the volatile nature of the currency markets any quote you are given will expire after a fixed period of time.
No, there are no limits on the amount of currency that you can send or receive. We deal with requests ranging from £1,000 to £1M+, although generally speaking the more you exchange, the better the rate you will receive.
Yes, under most circumstances you will need to provide some basic identification for most transactions and you may be required to provide additional documents (for example, source of funds) depending on the currency and amount you are transferring. Requirements vary between brokers but you will be given specific advice on exactly what is required if you accept a quote offer.
Foreign exchange brokers specialise in money transfers and are able to offer such good rates because they don't incur additional costs involved in storing, processing and posting cash. For this reason you will not be able to exchange cash using this service, however we do offer these services separately on our website: you can buy currency here or sell currency here.
Posted by Peter Rudin-Burgess on 6th January 2017
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