WorldFirst Review- Make Safe and Secure International Money Transfer 2019

5 stars based on 429 reviews

World First Review by Exchange Rate IQ

Overall rating
8.5 /10

Are you thinking of transferring funds internationally? Here at Exchange Rate IQ, we provide you the detailed and unbiased review of the “best money transfer companies” which are provided by performing complete research on customer satisfaction, safety, etc. So, today we bought you the review of WorldFirst which offer best exchange rates when compared to banks in more than 50 currencies over 80 countries.

WorldFirst is a known and well-established money remittance company. It serves to the individuals, businesses and also provides online e-commerce exchange services. The company manages to offer better exchange rates when compared to banks mainly because of the volumes it. Some of the benefits of using WorldFirst are:

  • Transparent Fee Structure
  • Easy-To-Use Website
  • Competitive Exchange Rates

Review of World First :

Founded in the year 2004, WorldFirst is a UK-based company provides money transfer services to individuals as well as businesses. The company has its headquarters in London, UK. One can transfer the funds from Australia, Canada, France, New Zealand, Spain, USA, UK and Europe to over 80 countries in more than 50 currencies. Till date, the company has served more than 111,000 customers and traded above £60 billion.

One can transfer the funds through a bank account, debit or credit card using the company’s mobile apps on Android, iPhone or Android Watch. The minimum amount of transfer must be £250 (or the equivalent in any local currency) online or £1,000 over the phone. The company also offers cash pickup through agents, so one can use the services when the recipient is in need of urgent money.

The company is also offering spot contracts, forward contracts, live exchange rate transfers, and rate alert services which help the customers to get the benefit of the best rates. The company aims to provide quick turnaround times as well as a high level of customer services to the users across the world. One can call customer support during the working hours or can request a call.

The company is highly secured and regulated by various authorities in different countries. So, one can use the services of WorldFirst without worries.

Pricing : How much does World First cost?

7 /10

WorldFirst Transfer Fee

The company has a variable fee depending on the mode and currency you are transferring. Still, its standard fee ranges in between $0 to $10.

  • WorldFirst charges a straight fee of USD $10 for the transfers of $10,000 or less.
  • It does <>not charge any fee for the transfers above $10,000.
  • The company has variable pricing for the business transfers lies in between $0 to $10, and this depends on how much you transact with them.

Sending money to an agent location is much cheaper than sending it to the bank account regardless of payment method.

WorldFirst Exchange Rates

The company’s exchange rates are 1% lower than the mid-market prices and interbank rates. This shows that a person has to pay the fee of $10 for transferring every $1,000.

WorldFirst also promises to provide the best prices and if you find any better rates with the other provider, get a quote for the same amount and currency pair, and submit your quote to World First within three hours of receiving it from the other provider. They will provide the best rates as long as they are not into the loss.

So, for its pricing and exchange rate, our experts rate it 7 out of 10.

Transparency: Does World First have any hidden fees?

8 /10

WorldFirst Hidden Fee

The company has no hidden fees; it will show all the details of fee and exchange rates on the transaction page. However, there are many banks, which charge the fees for transferring the funds, so you must first check from your bank.

WorldFirst Tracking

The company provides all the details of the transaction on the dashboard. So, for tracking your transfers, you need to log in and know where your money has reached.

The company has no hidden fees and also providing tracking details on the dashboard. Though, it is not providing any transaction number, so that one can directly check the details of the transaction without logging. Therefore, we rate it 8 out of 10.

Transfer Speed: How long does it take to send money through World First?

7/10

The money transfer speed of WorldFirst depends on various factors, including the mode of payment, the currency you are buying or selling, amount as well as your bank. Generally, the company transfers GBP and EUR on the same business day as soon as it receives the amount and the payment also get to the recipient’s bank on the same day. However, it depends on the bank if it releases the funds or not.

In other currencies, it may take 1 to 4 business days. This time essentially depends on the currency you are transferring. For example:

  • Swedish kroner take up to One day
  • East Caribbean dollar takes Up to four days
  • Australian and New Zealand dollars transacted in 24 hours

The company tries to transfer the funds timely, but it also depends on the intermediaries and receiving bank policies. Therefore, we rate it 7 out of 10 for its speed because many of its competitors are also offering instant transfers.

Coverage: How many Countries & Currencies does World First support?

7/10

The company offers transfers in more than 50 currencies from Australia, Canada, France, New Zealand, Spain, UK and Europe. The currencies you can send through WorldFirst money transfer are:

AED NOK USD CAD QAR ZAR
KWD EUR DKK HUF CNY GBP
SGD ZAR JPY ILS BHD CHF
BGN AUD PHP RUB PLN THB

Besides the money transfer service, the company provides several other services to individuals and businesses which make transfers easier. These are:

  • Spot Contracts: Rates offered if you need to transfer straightforward.
  • Forward Contracts: Lock an exchange rate now, but transfer the funds later in the future.
  • Live Exchange Rate: Company provides continually updated interbank exchange rates between currency pairs.
  • Currency Converter Calculation: WorldFirst offers online currency conversion calculations based on the interbank rate.
  • Rate Alerts: One can sign up for rate alerts from the WorldFirst.

The company recently stopped providing its services in the USA, effective from Jan 30, 2019 (after 5 p.m.) and therefore one cannot transact with WorldFirst from 4:00 pm February 20th, 2019. So, one can send money to the USA but not from the country. Besides this, there are many countries which it needs to get cover in Asia and Africa to be a top money remittance company. So, if you want to use the services of the WorldFirst login here.

So, on its coverage basis, Exchange Rate IQ’s experts provide 7 out of 10 scores to the company.

World First Transfer Process

Step-By-Step Guide to Transfer Funds with WorldFirst

  1. Go to the WorldFirst website.

  2. Select the account you want to set up, i.e., Business, Marketplace Seller or Personal.

  3. Click on “Sign up for Fee”.

  4. Toy will be redirected to a new page.

  5. Here enter all the personal details, phone number, etc.

  6. Select the country where you want to send the funds.

  7. Provide the image of your passport or fill the passport details asked by the company.

  8. Select any two security questions to answer and answer them.

  9. Enter the amount and details of the recipient.

  10. Re-check the details and send the fund.

User experience of World First

7.5/10

WorldFirst provides very high-quality services, but they do not have the lowest fee. The company is good, trustworthy and reliable. One can save up to 0.25% to 4% on the exchange rates when compared to banks. But there are some positive and negative aspects of the company, which are based on customers’ reviews, these are:

Positive:

  • Efficient and helpful customer care services.
  • Rapid transfers.
  • Provides a weekly update of market exchange rates.

Negative:

  • Less number of currencies available.
  • Does not accept electronic documentation for proof.
  • High amount of minimum transfers.
  • WorldFirst Customer Support Contact:

    COUNTRY ADDRESS EMAIL PHONE
    Australia Level 5 261 George Street Sydney NSW 2000 mailto:[email protected] 1800 835 506
    UK Millbank Tower 21-24 Millbank London SW1P 4QP [email protected] 44 20 3468 6953
    USA 251 18th Street South Suite 550 Arlington VA. 22202 [email protected] 844 571 2682
    USA 211 E. 7th Street Suite 700 Austin TX. 78701 [email protected] 844 571 2682
    Hong Kong Room 3003 -3008 30F Ace Tower Windsor House 311 Gloucester Road Causeway Bay Hong Kong [email protected] 852 3959 4810
    Singapore 99A Amoy Street Singapore 069919 [email protected] 65 6805 4380

    You can call the company in its working hours, or you can request a call from WorldFirst here.

    World First Promo Code:

    The company offers various discounts through promo codes which are shared to users by SMS, emails or mobile notifications.

    World First Refer a Friend

    If you refer a friend the services of WorldFirst through the unique link provided by the company, then your account will be get credited with 50 GBP or similar amount in other currencies. (T&C apply)

    WorldFirst Money Transfer Apps

    The company has been offering its apps, which you can use to make fast and easy transfers, anytime, anywhere. Download the apps here:

    1. WorldFirst Android App
    2. WorldFirst iOS App

    The company has combined fast, efficient technology and created dedicated systems to lower the cost of international money transfers. The company is growing with a rate of 40% per year to become of the top FinTech companies in the world. The company has offices in Sydney, Hong Kong, Singapore, Washington, and the Netherlands. So, on overall user experience, we rate it 7.5 out of 10.

    Security : Is World First Safe?

    10/10

    One of the major factors you should consider before using the services of currency exchange provider is how safe and protected they are? So, you must be happy to know that the company is trustworthy and offers high security.

    • The company is regulated by the Financial Ombudsman Service (FOS) in the UK.
    • The <>Australian Securities and Investments Commission regulates WorldFirst in Australia.
    • It has rated “3A2” from Dun and Bradstreet Credit Agency, which means the company has a low risk business and has large reserves of capital.
    • It is also separately registered in Canada with the Financial Transactions Reports Analysis Centre of Canada (FINTRAC).
    • Hong Kong Customs and Excise Department also regulates the company.

    The platform uses sophisticated security to protect the personal and financial details of the users, and therefore, we rate it 10 out of 10 in security.

    World First FAQ's

    What is the minimum and maximum transfer limit of WorldFirst?

    The company offers both personal and business transfers which have similar transfer limits. These are: WorldFirst Minimum Limit: USD $1,000 or similar amount in other currencies WorldFirst Maximum Limit: USD $10,000 or similar amount in other currencies
    Discuss this question

    Can I send money through cash pick-up services from WorldFirst?

    No. WorldFirst does not offer its cash pick-up services, so users can only send the money from bank account or make the wire transfers.
    Discuss this question

    Do WorldFirst offers instant money transfers?

    No. WorldFirst does not offer instant money transfer. It will take approximately 1 to 4 working days to reach the funds to the recipient.
    Discuss this question

    World First User Reviews and Ratings

    reviews powered by trustpilot

    Brilliant Service

    Review published ago

    Brilliant Service. I found the service very good. Staff were helpful as i knew nothing about international transfers. When i came to move funds the on line procedure was easy to follow. Would definitely use them again.

    by Customer

    Brilliant Service

    Review published ago

    Brilliant Service. I found the service very good. Staff were helpful as i knew nothing about international transfers. When i came to move funds the on line procedure was easy to follow. Would definitely use them again.

    by Customer

    Easy interface

    Review published ago

    Easy interface, good personal support and service!

    by Sjoerd Eisma

    Easy interface

    Review published ago

    Easy interface, good personal support and service!

    by Sjoerd Eisma

    Client Relations need to sharpen their Pencils

    Review published ago

    Biggest problem I had was getting my account opened. I did all that was necessary, uploaded required documents and everything went into limbo. Had to pester client relations to get the ball rolling. Not a way to get happy clients with this couldn’t- care -less attitude. However, once approved my first transfer went through smoothly. Don’t advise initiating a transfer on a Friday, though.

    by Rosemary

    Client Relations need to sharpen their Pencils

    Review published ago

    Biggest problem I had was getting my account opened. I did all that was necessary, uploaded required documents and everything went into limbo. Had to pester client relations to get the ball rolling. Not a way to get happy clients with this couldn’t- care -less attitude. However, once approved my first transfer went through smoothly. Don’t advise initiating a transfer on a Friday, though.

    by Rosemary

    Very very bad experience. Stay away if you don't want to lose your money

    Review published ago

    We have a virtual account at Worldfirst, which turns out to be the very worst experience ever. Client made payment into our account we got charged twice for FX when asked we were told we made FX twice from USD - EUR then EUR - USD after which they blocked access to our account and online access suspended with no explanation. We requested the money be sent back but they've refused and nobody seems to care about it. and Frank even said if we want a quick response we should write an offical complain and escalate the case which we did but was told would take them 15 working days to get a response, well we never did. They will he ruin your business as they try doing because of USD 880. We will be contacting the regulatory authorities because it's purely robbing people's money if you don't want to provide your services anymore why not send the funds back to sender and close account if you want? I don't get that. Stay away if you don't want to lose your money because no one will give any explaination at the end of the day.

    by IBEATIFY

    Very very bad experience. Stay away if you don't want to lose your money

    Review published ago

    We have a virtual account at Worldfirst, which turns out to be the very worst experience ever. Client made payment into our account we got charged twice for FX when asked we were told we made FX twice from USD - EUR then EUR - USD after which they blocked access to our account and online access suspended with no explanation. We requested the money be sent back but they've refused and nobody seems to care about it. and Frank even said if we want a quick response we should write an offical complain and escalate the case which we did but was told would take them 15 working days to get a response, well we never did. They will he ruin your business as they try doing because of USD 880. We will be contacting the regulatory authorities because it's purely robbing people's money if you don't want to provide your services anymore why not send the funds back to sender and close account if you want? I don't get that. Stay away if you don't want to lose your money because no one will give any explaination at the end of the day.

    by IBEATIFY

    Very good service and simple

    Review published ago

    I had opened an account many months ago but not needed to use it until now. Good Fx rate, easy to use and easy to make payments. Very good and will use again. It would be useful to know the break points for the different Fx rates rather than have to keep entering different amounts (i.e. Up to £1000 = Euro Fx at x, £1000 - £5000 at x, etc)

    by Lee Fineman

    Has a £1000 minimum transfer which is…

    Review published ago

    Has a £1000 minimum transfer which is not obvious. So no good for normal monthly sums of money transfers. As I have not used service for a while my account was canceled without asking me first. Allows user to accept trade when the bank will not allow that transfer method. Means you have to phone up to cancel that trade and make another trade for the exact same amount and start again. Every other aspect of WF seems to be excellent.

    by Mr Robert Ford

    Personal transfer

    Review published ago

    I did a 300 transfer to my son. It took 3 days for wf to communicate that this was improper.

    by Torstein Krogh

    My dealings with WorldFirst

    Review published ago

    My dealings with WorldFirst both online and over the phone were simple and stress free. Any queries I had over the correct way to fill in their forms were speedily dealt with over the phone. Although I spoke to different advisors they seemed well informed and I didn’t have to repeat myself at every phone call! Thank you for the excellent service.

    by Denis B.

    On-line Transactions are made so easy…

    Review published ago

    On-line Transactions are made so easy with World First and should you ever need to actually speak to someone, the staff are top shelf 👍

    by Christine

    I used world transfer three times and…

    Review published ago

    I used world transfer three times and each time the service was great. Josh was a great help each time. He was helpful and patient with me, I will definitely recommend and use world transfer again.

    by Mrs Stella

    Excellent service with good advice on…

    Review published ago

    Excellent service with good advice on the potential drop of GBP to AUD. Transfer of funds from U.K. was seamless, would highly recommend World First.

    by Heather Jackson

    Easy and fast to set up

    Review published ago

    Easy and fast to set up. Money left my account in pounds and was in the company I was paying account in usd in the same day as setting up my account and with minimal fees or fuss. Will definitly continue to use for my foreign currency transactions. Saved me £400 in bank fees.

    by Ali

    Straightforward to set up and excellent…

    Review published ago

    Straightforward to set up and excellent rates with no hidden charges.

    by Paul Humphreys

    Another bad experience with WorldFirst

    Review published ago

    Another bad review for WorldFirst due to their unprofessional behavior: I had a bad experience with WorldFirst last January when they charged me an unfavorable (non market) rate for a large transfer. I was a regular customer and assumed that they would make a best effort to get the market rate (minus their commission), but they took advantage of this trust and charged the worst rate they thought they could get away with. When I left a negative review on Trustpilot WorlFirst contacted me with a generic message saying they would look into my complaint. I provided my account details but received no further response. Now, one year later, they have asked Trustpilot to remove my original review as they dispute that I was a genuine customer! I have sent Trustpilot my account details and trade confirmations. WorldFirst get yet another poor review for their trouble. Why would you trust your money with a company that treats its customers in this way? Original review: Customers exploited and no value put on long term client relationships. I was charged the worst permittable rate on my foreign exchange limit order, rather than the prevailing market rate, which was significantly better by the time the trade was executed. This is not the standard industry practice (all other forex providers that I have used execute trades at the market rate, minus their commission/ spread). This is disingenuous behavior to say the least. When I complained I was rebuffed by my World First relationship manager (managers receive a commission based on the profit that they earn from making the trade). I declined to take it up with the World First compliance department, opting to take my business elsewhere rather than waste time trying to recoup a loss of around GBP100. There are plenty of other forex providers who offer similar/better rates, but who put their client relationships ahead of short term profits. You have been warned

    by Customer

    Brilliant service as always.

    Review published ago

    Brilliant service as always. The transfer proceeded immediately and the money arrived in our account the next day.

    by Bob James

    Thank you,

    Review published ago

    Thank you, a great service with personal support!

    by Florin St

    Great Service.

    Review published ago

    Both Frank and Charlotte where great help in getting the service up and running. All documents where checked and verified very quickly. Very fast and good communications at all stages.

    by L Judge

    Great rate and service, once again

    Review published ago

    As always, great service — my FX conversion was done same day (both accounts in the U.K.) — and the rate was far better than other alternatives. I’ve been using World First for a few years to conver currency to send home, and have never been disappointed. Highly recommended.

    by MDA22

    Xavier

    Review published ago

    Xavier, has been excellent in all our dealings. He is very detailed in his advice, actions requests expeditiously and is always ready to follow up on any query. I couldn't recommend him more highly.

    by David Gloucester

    Excellent

    Review published ago

    Great help during account verification. Thank you very much.

    by Dawid
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