WorldFirst Review- Make Safe and Secure International Money Transfer 2021

5 stars based on 1932 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, 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. You 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

    Alternatives to World First

    World First User Reviews and Ratings

    reviews powered by trustpilot

    Straight forward and quick process.

    Review published ago

    Straight forward and quick process.

    by Peter Sclater

    Straight forward and quick process.

    Review published ago

    Straight forward and quick process.

    by Peter Sclater

    Professional service

    Review published ago

    Professional service, selling EUR quickly returned my funds within a couple of hours. Will definitely use again.

    by Nicola H

    Professional service

    Review published ago

    Professional service, selling EUR quickly returned my funds within a couple of hours. Will definitely use again.

    by Nicola H

    Great service!

    Review published ago

    We've dealt with WorldFirst for some years now. Always great service and good rates! =)

    by MN

    Great service!

    Review published ago

    We've dealt with WorldFirst for some years now. Always great service and good rates! =)

    by MN

    Satisfied client

    Review published ago

    I have used this company for last five years for transferring money to Spain. I found them to be extremely easy to deal with, a very good and prompt service. A

    by Ebrahim ABBASSIAN

    Satisfied client

    Review published ago

    I have used this company for last five years for transferring money to Spain. I found them to be extremely easy to deal with, a very good and prompt service. A

    by Ebrahim ABBASSIAN

    You closed my account when I still needed to use it

    Review published ago

    The service you offered me was good - simple to use and flexible - but you closed my account after a year when I still needed to use it because of lack of activity. I was clear when I opened the account what I needed it for and that there would be minimal transactions. My work was delayed because of the global pandemic and I would have liked some flexibility from you which you did not offer

    by Nicky Stevenson

    not recommended if you do not use every month..

    Review published ago

    Annoyed at the fact that my account was closed because of "inactivity" - my business runs in lump sums every few months, apparently because I wasn't using the account on a monthly basis they immediately closed my account without even discussing it with me. It really frustrated me as I have to get a new account elsewhere and forward the new details to all my clients, which took weeks. thanks for that.. would not recommend for businesses that have infrequent payments. I've moved on to Wise, very happy with them so far.

    by Abs

    Had successfully used World First to…

    Review published ago

    Had successfully used World First to pay sub-contractors abroad. This was the first time I had issued an invoice to an international client via world first. It worked very well and saved me a substantial sum in avoiding the punitive exchange rates of my bank.

    by DW

    User-friendly

    Review published ago

    Quick, easy, secure. Clear, user-friendly online portal. Great telephone support when needed.

    by Nick Evans-Pughe

    All in all good

    Review published ago

    All in all good - But they take both commissions (0.5%) and fees - you can do one but not both in my book.

    by ahsmi

    Always use them to transfer into…

    Review published ago

    Always use them to transfer into currency and pay invoices there quick efficient and easy to use

    by customer

    Really useful webinar to get us started…

    Review published ago

    Really useful webinar to get us started on our ecommerce journey and great to know that we will have ongoing support should we need it.

    by HW

    The Good Guys

    Review published ago

    I had to spend quite some time working through some exotic currency payments and Jack was extremely helpful and resourceful and willing to go that extra mile. In fact, I have generally found all the World First employees I deal with to be very helpful.

    by Charles

    Transferred 18500£

    Review published ago

    Transferred 18500£. On 16.7.21 now 22.7.21. They still have not made payment as requested the rate might be slightly better but not worth it don’t now even know where my money is as they won’t even respond you have been warned keep will away use xe or fx.

    by Mick Obrien

    Smooth setup

    Review published ago

    The support is top notch, they lead you all the way through setting up the account. Opening the account is quick and easy.

    by Nina Vidmar

    Excellent customer service and helpful…

    Review published ago

    Excellent customer service and helpful webinar to get you started

    by Simon Winskill

    Ian was very helpful to set up the…

    Review published ago

    Ian was very helpful to set up the account. Fast and easy to communicate!

    by Heejeong Jeong

    Easy & fast to open new account.

    Review published ago

    Easy & fast to open new account.

    by Jason Tan

    Bedankt voor je snelle en attente…

    Review published ago

    Bedankt voor je snelle en attente service

    by 陈佳

    snel, persoonlijk en professioneel

    Review published ago

    Ondanks dat we een klein bedrijf zijn worden we snel, persoonlijk en heel professioneel geholpen. Ik zeg: een goede keuze!

    by Frank Sies Africa Wildlife Saf

    The good old days

    Review published ago

    Have been a client for many years. Without notice received email telling me my account was being closed. I shouldn't be surprised as standards of service have steadily worsened over the past year or so. Apparently they are closing all private client accounts in their pursuit of ignoring everything except turning a profit.

    by essjay dee
    show more >>

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