WorldFirst Review- Make Safe and Secure International Money Transfer 2021

5 stars based on 1698 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

    Easy to register but was left hanging…

    Review published ago

    Easy to register but was left hanging for almost a week awaiting account activation. I was put onto Antony in customer service & he had me sorted within the hour! Great service from Antony.

    by Mat Wotton

    Easy to register but was left hanging…

    Review published ago

    Easy to register but was left hanging for almost a week awaiting account activation. I was put onto Antony in customer service & he had me sorted within the hour! Great service from Antony.

    by Mat Wotton

    Excellent service

    Review published ago

    The best level of service in terms of opening a business bank account! Absolutely professional communication with George. Definitely recommend it

    by Teodora Iv

    Excellent service

    Review published ago

    The best level of service in terms of opening a business bank account! Absolutely professional communication with George. Definitely recommend it

    by Teodora Iv

    Antony very quickly and patiently…

    Review published ago

    Antony very quickly and patiently sorted my change of address and helped me complete my onboarding. Can't fault him!

    by Michael Abrahams

    Antony very quickly and patiently…

    Review published ago

    Antony very quickly and patiently sorted my change of address and helped me complete my onboarding. Can't fault him!

    by Michael Abrahams

    Anthony was really helpful in sorting…

    Review published ago

    Anthony was really helpful in sorting out our payment, he was vet helpful and kept communicating to keep us updated. Thank you

    by Sarah Ashton

    Anthony was really helpful in sorting…

    Review published ago

    Anthony was really helpful in sorting out our payment, he was vet helpful and kept communicating to keep us updated. Thank you

    by Sarah Ashton

    Excellent service

    Review published ago

    Excellent service - straightforward procedures and direct assistance from real people at the end of a phone, exactly the sort of service that high street banks no longer offer.

    by Chris Dunn

    Unstable Company

    Review published ago

    I applied to their online seller account and after requesting my all personal details and a 3-week verification process they informed me that my marketplace(App Store) is an unapproved marketplace and they can't receive funds from them. Their onboarding process is badly designed from the beginning also how can they consider App Store as an unapproved marketplace? Even their application on the App Store and their business mostly depends on the WF App on App Store.

    by Murat Turan

    Quick account opening and good service

    Review published ago

    Account opening is very easy, simple and efficient. Phone conversation and email contact with George were pleasant and useful. Would recommend to my friends.

    by Linda Lee

    The experience was terrible.

    Review published ago

    I had a business account a year ago with this company. Worldfirst blocked access to the account and I had to write emails for weeks asking them to explain why they were blocking the account. The experience was terrible.

    by John Sander

    Highly recommend

    Review published ago

    So easy to get myself set up with WorldFirst. I dealt with Ellie over email and also spoke to Ben over the phone. Both were exceptionally friendly and helpful.

    by Cecily Harpist

    Very good to deal with a competent…

    Review published ago

    Very good to deal with a competent human, amongst so many online services that use bots.

    by Colin Edwards

    This bank is a total SCAM!

    Review published ago

    This bank is a total SCAM!! We have an account there that has been frozen for no reason and without ANY notice. We have sent all the requested documents within 5 hours of account being frozen. It has been 1 week and our account is still frozen even though the sales rep tells all our documents are valid. A TOTAL SCAM. We cannot pay our invoices to our suppliers. DO NOT AND NEVER PUT YOUR MONEY THERE.

    by Louis

    Just Great. Customer since 2016!

    Review published ago

    Very simple and helpful account set up process. Product comprehensive and allows me to look polished with appropriate account in local currency that they set up for me... all in all very happy with the service and have been using them in one way or another since 2016 and happy to be doing so in 2021 too!

    by Fergus Mellon

    Quick account opening. Good rates.

    Review published ago

    Antony Sivalingam was very helpful with account opening.

    by Tomás

    Fijne club om mee samen te werken…

    Review published ago

    Fijne club om mee samen te werken wanneer je regelmatig internationale betalingen ontvangt of moet doen. Platform werkt gemakkelijk, en als je er niet uitkomt staan Aaron Oxley en Joep Backx voor je klaar om de transactie voor je in te boeken. Ik kijk uit naar de integratie van de 2 platformen die ik gebruik voor nóg meer gebruiksgemak. Ons bedrijf was eerst klant bij Ebury, maar nu naar volle tevredenheid overgestapt naar World First met meer persoonlijke benadering. Een unicum in de financiële wereld. Transactiekosten laag en overzichtelijk, geen verrassingen, kortom; geen klachten tot nu toe.

    by Johan Kersten

    Good service is the key...

    Review published ago

    I have been dealing with World First for a number of years and their service is quick, efficient and cost effective. There is a great spirit of "can do" which is very much appreciated by this SME. My last transaction was handled by Antony Sivalingam very professionally.

    by Tim Hardy

    Hele goede service we zijn er erg blij…

    Review published ago

    Hele goede service we zijn er erg blij mee. Vooral Santino Broer hebben wij veel contact mee en is altijd bereikbaar en erg service gericht.

    by Lennart Otter

    House sale in France

    Review published ago

    Phone conversations and email contact with Miranda Drake were extremely useful giving us support and managing the transfer of money from recent house sale in France to our account in the UK. Many thanks, Paul and Vicky Alvey

    by Mr Paul Alvey

    Simple yet Efficient

    Review published ago

    It was an easy system to set up. Once set up the transactions were prompt, smooth and efficient. I would defintely recommend WorldFirst services to my friends and clients.

    by Mani K Rai

    Very good service and very competitive…

    Review published ago

    Very good service and very competitive rate compared to other transfer companies i have used. very happy with the service so far but will monitor progress

    by Stephen Mc Laughlin

    Excellent as always.

    Review published ago

    I’ve used the service regularly for over 6 years now. It is always swift, efficient and painless! I'm very happy with WorldFirst's service. I would recommend 100%.

    by Helena
    show more >>

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