The TransferWise app design and user experience of their technology is great with simple, intuitive processes.
Registration - Fast and easy account creation
ID verification - Instant in some countries
Transfer speed - It can be instantaneous in some countries. Fast payments to TransferWise comes at an additional cost.
Minimum transfer amount - $1
Mobile app - Simple and easy to use. Probably the best designed app of the international money transfer companies.
Payment options - TransferWise has the broadest range of payment options. Local bank transfer, debit / credit card and country specific solutions such as POLi.
What Currencies Direct does well
Signing up - Sign up using the Currencies Direct website or app. Alternatively, register over the phone.
- Bank transfers
- GBP and EUR debit card payments from the UK and European Union
- Direct debits from the UK and European Union
- Check payments from the US
- Wire transfers from the US
- ACH payments from the US
Phone transfers - You can set up phone transfers by speaking with your dedicated currency specialist.
Multilingual website - Use the Currencies Direct website in a number of languages.
Where Currencies Direct could improve
Transfer speed - Most transfers take 1 - 2 businesses days. Transfers in exotic currencies can take more time.
Transfer limits - You need to transfer at least £100/$100. The maximum limit for online transfers is £25,000.
Account verification - According to compliance requirements, you need to provide copies of your bank statement and passport.
Currencies Direct app - Available for Android and Apple - only for personal customers. Some customer reviews complain about its functionality on Google Play Store as well as Apple App Store.
TransferWise scores better in the Ease of Use category.