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Halo (previously known as Corpay, Global Reach and FC Exchange) provides international money transfer services for individuals and businesses from most countries. All customers get access to dedicated account managers. Find out if Halo is the right money transfer company for you by going through this in-depth Halo review.
Personal and business international money transfers
Transfers over £3,000 are fee-free
Regular transfers
Risk management tools
Dedicated account managers
Payment options
Bank account transfers
Payout options
Bank accounts
Transfer options
Online
Over the phone
Regular transfers
Available
Send money from
Supports payments in more than 60 currencies.
Send money to
Supports transfers in more than 140 currencies.
Reliable customer service
Phone: +44 20 4527 1783
www.halofinancial.com
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Halo provides money transfer services for personal customers from different parts of the world.
International money transfers - Get existing Halo exchange rates when you carry out Spot transfers.
Dedicated account managers - Speak with a dedicated currency dealer when you want to transfer funds or if you need expert forex-related advice.
Forward contracts - Lock existing Halo exchange rates for up to two years.
Stop loss and limit orders - Set maximum budget rates through stop loss orders. Use limit orders to target better than existing rates.
Regular transfers - Set up regular transfers according to your specific requirements.
The reason behind Halo's average score in this section is that it does not provide cash pick up, digital wallets, and travel cards.
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Depending on the country in which your business is registered, you may sign up for a Halo business account.
International money transfers - Carry out Spot transfers that use existing Halo exchange rates.
Dedicated account managers - Benefit through bespoke strategies created by your account manager to meet your specific requirements.
Forward contracts - Use forward contracts to lock existing rates for transfers you wish to carry out in the future.
Stop loss and limit orders - Use stop loss orders to minimize your forex risk by setting lowest acceptable exchange rates. Target better than existing rates by using limit orders.
Options - Use option products provided by Halo Markets to further complement your hedging strategies.
Digital wallets - Buy currencies you wish to transfer later, and hold them as balances in a digital wallet.
Offering travel cards, online seller solutions, accounting integration, and multi-currency accounts would improve the Halo score for its business services.
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You might have to pay a Standard Telegraphic Transfer (TT) fee. It limits to a maximum of £20 for personal and business customers. However, there are no transfer fees if you send more than £3,000.
Halo applies markups/margins on existing mid-market/interbank exchange rates. The margin can vary significantly based on your trading volume, the frequency of transfers, and the currencies involved.
You might incur intermediary bank fees if you are sending your payment to Halo from outside of the UK.
The non-transparent exchange rate margins that Halo applies cause its score in this section to remain just above average.
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ID verification - Tends to take place within two hours. Verifiable UK residents can expect straight through onboarding in minutes.
Phone transfers - Carry out over the phone transfers by speaking with your account manager.
Signing up - Signing up with Halo could be made easier.
Payment methods - Halo currently accepts payments only via bank account transfers.
Speed - Transfers to some currencies process on the same day but most transfers take 1 - 2 business days.
Minimum fee-free transfer limit - You need to transfer more than £3,000 or its equivalent in another currency to qualify for fee-free transfers.
App for mobile devices - Halo has not launched apps for Android and Apple yet.
Halo can improve its score in this section by offering apps for mobile devices, lowering the fee-free limit, simplifying the registration process, adding more payment methods and offering quick turnaround times for all transfers.
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Supported currencies - Halo gives its customers access to more than 140 currencies.
Supported countries - You can register with Halo from most countries. Exceptions include Afghanistan, Cuba, Iran, Iraq, Libya, North Korea, Somalia, South Sudan, Syria and Zimbabwe.
Customer support - Provides customer service over the phone through its global offices, and also via email.
Local settlement accounts - With its only local settlement account in the UK, international customers might have to pay intermediary bank fees when making payments.
More languages - Access to the Halo website is only in English.
Halo can better its score in this section by making its website multilingual and by increasing its local settlement accounts.
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Regulated - Halo is authorised by the UK Financial Conduct Authority (FCA).
Exchange rate transparency - Customers don't find out how much margin Halo applies on exchange rates unless they do their own research.
Trustpilot - Halo rates as Great on Trustpilot, getting 8 out of 10, with around 650 reviews. However, there aren't many recent Halo reviews on this platform. On Feefo, Halo scores 9.6 out of 10. However, some reviews highlight concerns surrounding poor customer support, not getting the right trading advice and non-transparency in exchange rates.
Making its exchange rates completely transparent as well as addressing customer concerns quickly and effectively would help increase Halo's score in this section.
Halo is a specialized international money transfer company offering services to individuals and businesses. Halo provides online money transfer and currency exchange experts to transfer money internationally. Businesses can take advantage of Halo’s currency risk management solutions.
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Halo (previously known as Corpay, Global Reach and FC Exchange) is a UK-based international money transfer company. It provides services for individual and business customers. Depending on how much money you wish to send, you might qualify for fee-free transfers. Halo has offices in several countries.
