WorldFirst Review- Make Safe and Secure International Money Transfer 2024

4 stars based on 2238 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

    I was referred this comapny by 1st…

    Review published ago

    I was referred this company by 1st formations. I saw multiple notices that it takes 1-2 business days to verify my account. After receiving no communication 1 week later, I had to be the one to reach out. I was immediately met with a message that my verificaiton was denied...so I submitted what was requested again. 1-2 business days for review. 1 week goes by again. Again I reach out Denied again After 4 weeks of this nonsense, I accepted I was being given the run around and I am no longer pursuing banking services with this company Buyer beware...as their policy rationalizes everything....they even try to excuse themselves when they take a week to answer. The entire process was a giant waste of time.

    by Alex Martinez

    I was referred this comapny by 1st…

    Review published ago

    I was referred this company by 1st formations. I saw multiple notices that it takes 1-2 business days to verify my account. After receiving no communication 1 week later, I had to be the one to reach out. I was immediately met with a message that my verificaiton was denied...so I submitted what was requested again. 1-2 business days for review. 1 week goes by again. Again I reach out Denied again After 4 weeks of this nonsense, I accepted I was being given the run around and I am no longer pursuing banking services with this company Buyer beware...as their policy rationalizes everything....they even try to excuse themselves when they take a week to answer. The entire process was a giant waste of time.

    by Alex Martinez

    World Fist support is very bad, but that can be seen in their replies to negative reviews. Simply pass

    Review published ago

    This is my second review as I have deleted the first one due to mention of 1st formations which I used their service to incorporate the company in the UK. Once the UK company was incorporated I have used 1st formations referral link to setup my account. Fist step is very easy and I have submitted the documentation. It said 24/48 hours to check. After a day I have received an email with requests that you can see below and that is when the problems start. 1. Company bank statement (Licensed/Approved bank) 2. Utility bill (e.g. office or warehouse water bill, electricity bill or gas bill) 3. Lease contract (office or warehouse) 4. Screenshots of online store homepage and admin page, plus your website link (URL) 5. Online store sales report (all pages) 6. Tax bill Only thing that you can provide are 4. Screenshots of online store homepage - which I did. For 11 days they were not able to open a PDF file (which is not surprising as on previous review they could not even find the application). I had to call the support of 1st Formations to help me, as World Fist would not answer emails. When they were contacted by 1st Formations they called me to inform me that my website was not live because I do not have payment system? The whole point of UK company registration was to connect the Stripe with our website and have the payment system. When I explained this via phone to the WF support he said he will check and call in 24 hours max 48 hours. Obliviously they did not so I had to post this review. I honestly hope 1st Formation will find better company to work with, and all reviews about incompetent support about World First are accurate. IMPORTANT: Bad support is actually in this case GOOD SUPPORT! What if there was a problem and funds were blocked? I personally would pass on this company. Register only if you do not have second option. All the best, Asim

    by Asim D

    World Fist support is very bad, but that can be seen in their replies to negative reviews. Simply pass

    Review published ago

    This is my second review as I have deleted the first one due to mention of 1st formations which I used their service to incorporate the company in the UK. Once the UK company was incorporated I have used 1st formations referral link to setup my account. Fist step is very easy and I have submitted the documentation. It said 24/48 hours to check. After a day I have received an email with requests that you can see below and that is when the problems start. 1. Company bank statement (Licensed/Approved bank) 2. Utility bill (e.g. office or warehouse water bill, electricity bill or gas bill) 3. Lease contract (office or warehouse) 4. Screenshots of online store homepage and admin page, plus your website link (URL) 5. Online store sales report (all pages) 6. Tax bill Only thing that you can provide are 4. Screenshots of online store homepage - which I did. For 11 days they were not able to open a PDF file (which is not surprising as on previous review they could not even find the application). I had to call the support of 1st Formations to help me, as World Fist would not answer emails. When they were contacted by 1st Formations they called me to inform me that my website was not live because I do not have payment system? The whole point of UK company registration was to connect the Stripe with our website and have the payment system. When I explained this via phone to the WF support he said he will check and call in 24 hours max 48 hours. Obliviously they did not so I had to post this review. I honestly hope 1st Formation will find better company to work with, and all reviews about incompetent support about World First are accurate. IMPORTANT: Bad support is actually in this case GOOD SUPPORT! What if there was a problem and funds were blocked? I personally would pass on this company. Register only if you do not have second option. All the best, Asim

    by Asim D

    Excellent Services plus smooth…

    Review published ago

    Excellent Services plus smooth functionality. Great Experience!

    by Asholic Shop

    Excellent Services plus smooth…

    Review published ago

    Excellent Services plus smooth functionality. Great Experience!

    by Asholic Shop

    A nice eea chat

    Review published ago

    Vincenzo has always been so patient and helpful. I got what I need just in a second, which surprised me greatly. And thank you for the professional help again. Highly recommended!

    by 芳 瞿

    A nice eea chat

    Review published ago

    Vincenzo has always been so patient and helpful. I got what I need just in a second, which surprised me greatly. And thank you for the professional help again. Highly recommended!

    by 芳 瞿

    No problems using these guys

    Review published ago

    No problems using these guys, can highly recommend. Everything works as it should with my Amazon payments. Only problems are usually caused by Amazon, but support (Cobi most recently) was great and they got the problem sorted quickly. Only comment is at login they keep sending you to use Authy as a default for 2 step verification. No idea what this is and couldn't find it in the app store.

    by Dave Stubbs

    WorldFirst Overall experience.

    Review published ago

    Support team always really helpful.

    by customer

    helpful Mickey H

    Review published ago

    helpful Mickey H, thanks

    by ForTheTrend

    Layo at World First was quick to help…

    Review published ago

    Layo at World First was quick to help me and once I sent the details over he got it all set up for me very promptly. Excellent service.

    by Fran

    Very nice customer service

    Review published ago

    Very nice customer service , Great services

    by Kamel Boukhelia

    Very unreasonable company.

    Review published ago

    Very unreasonable company. I got referred to them by 1stFormation, as they had a partnership with them a couple of weeks ago. I have registered and started to fill out the application. And after 3 minutes I got rejected(which isn't even enough to check my company details). When I opened a Live chat ticket to check why am I rejected, they said they didn't know what was the reason and no one knew why am I rejected. This is such a horrible way to deal with enterprise clients. I won't suggest them anyway.

    by Yousef Ashraf Ezz

    I had some technical issues over…

    Review published ago

    I had some technical issues over Christmas with the payments. Amy was very responsive and followe up on the issue until it was resolved. Thank you Amy!

    by IAN THOMAS

    They have a great support team (Cobi)

    Review published ago

    They have a great support team (Cobi). I was on a call with him and he helped with every bit of information I didn't understand since I'm new on their platform, great generous guy and service.

    by Dusan

    Always very efficient and very helpful.

    Review published ago

    No matter who picks up the phone, all the staff at Wordfirst are excellent

    by Janet

    I received a call within 5 minutes

    Review published ago

    I received a call within 5 minutes. Mr. Codi solved my issue effectively. Nice experience.

    by Pankaj Mathur

    World First stole my money!

    Review published ago

    This is a fake "bank", they stole my money! I opened a business bank account for my company in October and sent a wire transfer to credit the account. I provided all the documents, that World First required. But they blocked the account and still haven’t returned the money. The support doesn't help at all. The amount is big, and I am going to court with this. They are thieves, avoid them!

    by Svitlana Shevchenko

    I recently had some banking isExceptional Service and Professionalism: A Review of Cobi's Support at Worldfirstsues that…

    Review published ago

    I recently had some banking issues that needed urgent attention, and I must say that Cobi from Worldfirst went above and beyond to assist me. His professionalism and efficiency were truly commendable. Cobi not only addressed my concerns promptly but also ensured that he followed through on every promise he made. What impressed me the most was Cobi's timely communication. He kept me informed at every step of the process and always got back to me exactly when he said he would. This level of reliability is rare and greatly appreciated, especially in situations where time is of the essence. Thanks to Cobi's assistance, my banking issues were resolved smoothly and efficiently. I cannot recommend him highly enough for his outstanding service. If you're looking for someone who is not only professional but also genuinely cares about helping you, Cobi from Worldfirst is the person to reach out to. Thank you once again, Cobi, for your exceptional support!

    by John Chan

    Nice Worldfirst bank thank you

    Review published ago

    Nice Worldfirst bank thank you

    by amine elalaoui

    Great service, as always!

    Review published ago

    Great service, as always!

    by Maurice Parry

    I believe World First bank has made…

    Review published ago

    I believe World First bank has made everything so easy. Moreover, Cobi has made my experience smooth and easy. A very professional yet very helpful.

    by Zeeshan Khan

    Very quick and helpful!

    Review published ago

    Very quick and helpful!

    by goodtogreatmind
    show more >>

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