Editorial review of World First

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

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.

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.

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.

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.

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:

WorldFirst Customer Support Contact:

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.

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:

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.