CurrencyTransfer vs Moneycorp: Fees & Reviews Compared

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

Below we compare them on their fees and reviews.

Fees

	CurrencyTransfer	Moneycorp
Homepage
Transfer Fee	No fee	No fee for online transfers £15 for transfers over the phone.
Average Exchange Rate Markup	0.007	1% – 2%
Minimum Transfer Amount	£5,000 (or currency equivalent)	50
Maximum Transfer Amount	No limit	£100,000 (or currency equivalent) for online transfers. No limit for transfers over the phone.

Reviews

	CurrencyTransfer	Moneycorp
Trustpilot Rating	4.8	4.3
Number of Trustpilot Reviews	900	6,300
iOS App Rating	N/A	2.1
Number of iOS App Reviews	N/A	120
Android App Rating	N/A	N/A
Number of Android App Reviews	N/A	N/A

Features

	CurrencyTransfer	Moneycorp
App Transfers	No	Yes
Online Transfers	Yes	Yes
Phone Transfers	No	Yes
In-person Transfers	No	No
Available Countries	170	190
Number of Currencies	28	35
Payment Methods	Bank account	Bank account Debit card Check
Receiving Methods	Bank account	Bank account
Cash Pickup Option	No	No
Payments Flexibility	Web platform	Web platform Mobile app Phone
Supported Languages	English	English, Portuguese, French, Romanian, and Spanish
Transfer Speed	1-4 days	1-2 days
Dedicated Dealer	Yes	Yes
Instant Custom Quote	Yes	No
Business Features	Spot contracts Forwards contracts Market orders Batch payments FX derivatives Rate alerts API integration	Spot contracts Forwards contracts Market orders Limit orders Stop-loss orders Recurring transfers Vanilla options Zero-cost options Rate alerts
Debit Card	None	None
Cancellation Policy	Booked currencies can be bought back from the selling provider with the costs falling on the customer	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

	CurrencyTransfer	Moneycorp
Year Founded	2015	1979
Headquarters	London, UK	London, UK
Other Office Locations	Tel Aviv (Israel)	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	$500 million	£38 billion
Number of Employees	23	900
Number of Clients	20000	N/A
Regulatory Institutions	FCA and HRMC in the UK	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	Top 9 Startups (Swift Innotribe Startup Challenge, 2014) Presented at FinovateEurope – a FinTech-based conference (2014)	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)

CurrencyTransfer Pros & Cons

CurrencyTransfer Pros

• Real-time personalized quotations
• Excellent client support
• Strong rating on Trustpilot
• Zero fees on transfers
• Attractive foreign exchange rates
• Worldwide service availability
• Wide range of options for businesses
• Speedy transfer of funds
• Notifications for exchange rate fluctuations

CurrencyTransfer Cons

• Not suitable for small money transfers
• High minimum transfer limit
• No multi-language support
• Limited payment options
• No mobile app
• Limited currency coverage
• No local coverage

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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