Currency Solutions is a top International money transfer firm based in the UK. Its services are tailored specifically to individuals sending large transfers locally and abroad. In terms of what is offered, Currency Solutions is the top-rated firm, with almost 100% client satisfaction, and close to no complaints.
Currency Solutions was started in 2003 by 3 friends, who recognised the scarcity of options for Forex transfers. Banks and travel bureaus were unnecessarily charging high fees and offering unfavourable exchange rates. There was ample opportunity to offer a specialised, affordable service, while still making profits.
Currency Solutions charges no fees on transfers. Since they focus solely on Forex, they can make their profits by offsetting the market exchange rate by a nominal margin. This margin is far less than that used by the banks.
Their service specifically caters to clients sending high amounts. Their minimum sending limit is £3 000. They have features which cater to clients who need to transfer money on a regular basis. Forward contracts allow you to fix a current exchange rate for up to 12 months in the future. This is highly useful for individuals and businesses who work or operate internationally, and do not want fluctuating exchange rates to deter them from meeting targets.
Currency Solutions is now 12 years old, and has over 145 000 customers. They’ve executed almost 250 000 trades, sending just under £6 billion.
The management team
Currency Solutions’ management team consists of the 3 founders/owners of the company.
Dr Tien Tran serves as IT Director. He holds a BEng in Aerospace Systems, a PhD in Artificial Intelligence and was a Consultant for the Ministry of Defence and a Researcher for the University of Southampton, prior to starting Currency Solutions. His role is in the strategic enhancement and innovation of company infrastructure and technology.
Harry Enver is currently Managing Director. He holds a BA Honours in Accounting, and was previously employed at Simpson Wreford & Co. His role includes managing the Currency Solutions Group of Companies, and handling financial matters.
Robert-Lee Griffith is currently Sales Director. He holds a BA in Business, Sport and Leisure Education. His role includes acquiring and developing new business streams.
Size and reach
Currency Solutions has over 145 000 customers around the world. They accept clients from all locations excluding the US. However, they maintain offices only in the UK and Cyprus. Their website has no translations available, indicative of their UK-centric approach.
Financial reports for Currency Solutions are difficult to locate. Company Check indicates that in 2014, Currency Solutions’ net worth equalled £2.3 million, up from just £1 million in 2013. Their total assets amounted to £8.5 million, with liabilities at £7.6 million.
Public stock performance
Currency Solutions is not a publicly listed company.
Currency Solutions is authorised and regulated by the FCA and HMRC.
Currency Solutions has a high reputation, due to their commitment to great service and zero fees. On TrustPilot, they have a client rating of 9.9/10, the highest of any money transfer company. There have also been no scandals or controversies to mar their good name. However, there is very limited information available on Currency Solutions, outside of their own website and customer reviews. This may lead skeptics to choose a better known firm, despite receiving inferior service and higher fees.
There are two negative reviews about the company up to date below. One has been resolved to the full satisfaction of the client, and the other one was left unattended here on the site with no further information provided by the client.
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