Currencies Direct vs Moneycorp: Fees & Reviews Compared

Both Currencies Direct and Moneycorp are popular international money transfer services. But which one is better?

Below we compare them on their fees and reviews.

Fees

	Currencies Direct	Moneycorp
Homepage
Transfer Fee	No fee	No fee for online transfers £15 for transfers over the phone.
Average Exchange Rate Markup	0.4% to 1.4%	1% – 2%
Minimum Transfer Amount	$1	50
Maximum Transfer Amount	£25,000 through the mobile app £300,000 by placing a special request	£100,000 (or currency equivalent) for online transfers. No limit for transfers over the phone.

Reviews

	Currencies Direct	Moneycorp
Trustpilot Rating	4.9	4.3
Number of Trustpilot Reviews	9,400	6,300
iOS App Rating	3.5	2.1
Number of iOS App Reviews	100	120
Android App Rating	3.5	N/A
Number of Android App Reviews	500	N/A

Features

	Currencies Direct	Moneycorp
App Transfers	Yes	Yes
Online Transfers	Yes	Yes
Phone Transfers	Yes	Yes
In-person Transfers	Yes	No
Available Countries	200	190
Number of Currencies	70	35
Payment Methods	Bank account Debit card Credit card Check	Bank account Debit card Check
Receiving Methods	Bank account	Bank account
Cash Pickup Option	No	No
Payments Flexibility	Web platform Mobile app Phone In person	Web platform Mobile app Phone
Supported Languages	English, French, Spanish, Portuguese, Italian, Norwegian, Swedish, German, Chinese, and Korean	English, Portuguese, French, Romanian, and Spanish
Transfer Speed	1-2 hours within Europe 1-2 days for overseas transfers	1-2 days
Dedicated Dealer	Yes	Yes
Instant Custom Quote	N/A	No
Business Features	Spot contracts Forwards contracts Limit orders Stop-loss orders Recurring transfers Digital multi-currency wallet Rate alerts API portal	Spot contracts Forwards contracts Market orders Limit orders Stop-loss orders Recurring transfers Vanilla options Zero-cost options Rate alerts
Debit Card	Currencies Direct multi-currency debit card	None
Cancellation Policy	N/A	Each individual transfer’s cancellation can be discussed upon contacting a Moneycorp representative. Generally, most transfers that haven’t been completed can be canceled and refunded.
Suitability	Large money transfers	Small and large money transfers

Company Comparison

	Currencies Direct	Moneycorp
Year Founded	1996	1979
Headquarters	London, UK	London, UK
Other Office Locations	Orlando (USA), Saint John (Canada), Mumbai (India), Albufeira (Portugal), 3 locations in South Africa, and 19 locations in Spain	Dublin (Ireland), Toronto (Canada), Gibraltar, Madrid, Costa Blanca, and Costa Del Sol (Spain), Bucharest (Romania), Dubai (UAE), Washington DC, Orlando, and Providence (USA), Hong Kong, and São Paulo (Brazil)
Annual Trading Volume	£9.5 billion	£38 billion
Number of Employees	550	900
Number of Clients	430000	N/A
Regulatory Institutions	FinCEN in the USA FINTRAC in Canada FCA in the UK Bank of Spain in Spain and the EU ACPR in France FSB in South Africa	FinCEN and the Federal Reserve Bank of New York in the USA FINTRAC in Canada FCA and the HMRC in the UK Dubai Financial Services Authority in UAE Central Bank of Brazil in Brazil Central Bank of Ireland in Ireland CED in Hong Kong GFSC in Gibraltar
Awards	Credit Rating of Level 1 (Dun & Bradstreet Corporation, 2010) National Business Awards Finalist (National Business Awards, 2016) Most Positive Client Reviews (Money Transfer Comparison, 2017) Consumer Champion of the Year (Money Age Magazine, 2017) Money Transfer Provider of the Year (Money Age Magazine, 2016, 2017,2018, 2019, 2020, and 2021) Best Rated Money Transfer (Money Transfer Comparison, 2019, 2020, 2021)	Travel Money Provider of the Year (Moneyfacts Consumer Awards, 2015,2016) Top Track 250 (The Sunday Times, 2017) Gold Trusted Service Award (Feefo, 2018, 2019) Best Money Transfer Service Provider (The World Banking Awards, 2019) Platinum Trusted Service Award for consistently delivering excellence (Feefo, 2020) Money Transfer Provider of the Year (MoneyAge Awards, 2019, shortlisted in 2020) Best Cross-Border Payments Service (Payment Awards, shortlisted in 2020) Best Cross-Border Payments Infrastructure (Payment Awards, shortlisted in 2020) Foreign Exchange Services finalist (The Private Equity Service Provider Awards, 2020)

Currencies Direct Pros & Cons

Currencies Direct Pros

• 4.9 out of 5 on Trustpilot based on over 8,000 reviews
• No transfer fees
• Free Amazon gift card for new paying customers
• Multiple payment options
• Amazing customer service
• Favourable exchange rates
• Extensive knowledge base
• Highly convenient
• Range of flexible solutions for everyone
• Global service coverage
• Solid currency coverage
• Local coverage
• Decades of experience
• Fast money transfers
• Exchange rate alerts option

Currencies Direct Cons

• Not focused on small money transfers
• Limited deposit options
• Limited smaller currency coverage
• No option for instant custom quotes
• Lack of cancellation policy
• Not available in some US states
• Mobile app has transfer limits

Moneycorp Pros & Cons

Moneycorp Pros

• Exceptional customer support
• Respectable Trustpilot rating
• Zero fees for transfers conducted online
• Unlimited transfer amounts for phone transactions
• Operational in more than 190 nations worldwide
• Impressive range of supported currencies
• In-depth local expertise
• Decades of industry experience
• Speedy money transfers
• Broad array of features for businesses
• Multilingual services
• Robust regulatory compliance

Moneycorp Cons

• Limited funding methods
• Lack of support for less-common currencies
• No option for instant personalized quotes

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