It is worth noting that this doesn’t mean that you will get the rates that are shown. Their website has a number of tools available to let you know what the current rate of exchange between various currencies is. The second stage is to actually book a rate of exchange for your currency. This can be even quicker if you register on the phone. ![]() ![]() They claim that for a personal account they can usually have you ready to send money abroad within an hour. You will simply have to provide some details about yourself, agree to their terms and conditions and then wait while they verify your identity. This can be done on their website or over the phone. Create an accountįirst, you need to make an account with World First. One of the biggest questions about a service like is naturally, how does it actually work? When you first send money with World First, there are basically three steps that you will have to take. As such, you should always be extra careful when sending money abroad and make sure that the recipient is someone you trust! How To Send Money With World First Once it has been transferred to an account in another country, there isn’t much that they can do. Of course, they only have control over where the money is sent to. As such, they should be safe to transfer money with. They have also done a significant number of transfers and sent very large amounts of money to many different countries since their conception. They also have a credit rating of 3A2 from a Global Credit Ratings Agency. This means that the company as a whole is authorised by groups such as the FCA (UK), FINTRAC (Canada), and FinCEN (US). Is Transferring Money With World First Safe?Īs World First has offices in so many countries it also has to follow the regulations of these countries. While there is certainly a lot of money is being put in their hands, this brings us to our second point. These stats show that they are a big a company and that they seem to be doing well for themselves. According to their website they hit the $5billion in transfers mark in 2011 and have had over 48,000 new customers this year. Since then they have expanded, opening offices throughout the world including in the US, Singapore, and Hong kong. World First is a UK based company that started in 2004. Of course, once you have signed up, you should have no problems sending money again! World First Background ![]() This means that the first time you send money you might have to wait a little longer to send it. The downside to money transfer companies, at least if you already have a bank account, is that you will need to sign up with them before you can send money. If this is not the case you can always use a service like the Western Union to send cash abroad. This means that it can be possible for you to save money when you transfer money abroad by using a money transfer service.Īs with an international bank transfer, when you use a money transfer service you (or the sender/recipient) will need to have a bank account in both the sending and the receiving country. Money transfer companies typically offer better fees (or no fees) and also often better exchange rates than banks. While one service that banks offer is the ability to transfer money between two countries, a money transfer company is different in that its sole purpose is transferring money from one country to another. World First is what is known as a money transfer company. We will take a look at the service they offer and whether or not they can live up to their promise of being able to save you money. That is a big call we will reveal here since the biggest reason most people use a service like this incuding any hidden feesĪlso since your money is quite literally on the line we wanted to understand security and service. You probably already know you can do a lot better than a bank and World First is possibly already a top contender to help you get good exchange rates and low fees.Īccording to their website, they say that they can save you money when compared to other similar services. Whether you are from another country or British - moving your money overseas if often an important part of life.
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