This review aims to describe the quality of service that Exchange4free money transfer provides with its benefits and drawbacks. We focus on getting significant information that can help you determine whether it’s suitable for your money transfer needs. We also designed a complete list of money transfer service companies that you can check on our provider reviews section.

Company Information

Exchange4free was established in 2004 in the UK. The company supported thousands of clients transferring over five billion dollars internationally. This money transfer service provider aids in helping both individuals and businesses. They have helped people in avoiding expensive bank fees and rates. 

Moreover, Exchange4Free handled more than $5 billion in foreign transfers and lets you to transfer money in over 60 currencies. However, if you reside in the US, you are cannot send money using this provider but can only receive them. Customers across the globe have been utilising Exchange4Free beyond a decade, performing billions of dollars in global money transfers and money exchanges. With this course, it appears that your money with Exchange4free is in good hands. Besides, various reviews sites on the web about Exchange4Free receives amazing positive reviews on average, with the largest customers receiving their money in a few days or less.

Exchange Rates and Fees

One of the common conspicuous guarantees that they offer is that the money exchange rate that you obtain is better from what you can get from all bank transfers. The specific amount that Exchange4Free applies is based on the interbank price which is considerably higher to what largest banks allow to their customers.

 They likewise have their own ‘best price guarantee,’ promising that they will beat any quotes that you can get from another provider. What this means is that if you get multiple quotes from different companies you can go to Exchange4Free and they will guarantee to match or beat that quote.

 Besides, getting a price quote from Exchange4Free is quick and easy, you can either do it on their website using the ‘request a quote’ feature or on the phone with an agent. Their experienced FX dealers can give you detailed quotes about the current FX situation and the precise rate that you will get.

Moreover, as its name implies, Exchange4free does not charge any fees when you send an international money transfer. This means there are no fees regardless of how much you transfer, and you would not incur any hidden charges

Instead of imposing transfer fees, Exchange4free makes a profit on the margin it adds on top of the interbank exchange rate at which it buys a currency.

Pros and Cons Of Using Exchange4free 

Pros

  • No transaction fees
  • No fees for receiving currency
  • Quick transfers with popular currencies
  • You do not need to pay any fees, commissions or hidden charges.
  • You can send money to more than 100 countries.
  • Your recipient can access the funds through bank transfer, cash pickup, mobile money or top up your airtime

Cons

  • Collection in foreign countries might have delays or maybe slow
  • Exchange4free does not offer limit orders if you’re sending international transfers
  • Some of the exotic currencies are not available
  • US residents can’t open an account with Exchange4free currently, but they can receive money to their bank account from another country.

Other Functionalities Supported With Exchange4free

Exchange4free offer services that help you initiate online payment solutions so you can get or receive payments from your customers around the world.

Business Forex

Exchange4free offers competitive exchange rates with no international SWIFT fees when transferring internationally for your business.

Technology Solutions

Exchange4free’s suite of forex technology systems includes money transfer platforms, global payout services as well as payment gateways.

Mobile Money Transfers

Exchange4free caters to forex processing solutions for mobile network operators across the globe.

Registration and Transfer Process

To send money internationally, you need to register for an account to initiate a money transfer. You will not incur fees when initiating international transfers that will not take a few minutes. However, you’ll have to submit a proof of ID. This can include a copy of your passport and a proof of address as compliance with the global anti-money laundering and terrorism financing regulations.

After you register to create an account, you can follow the steps below to start initiating your transfer:

  1. Book a rate. Simply log-in into your Exchange4free account and enter the information that is required to process your transaction. You can call a forex dealer and request a quote as well.
  2. Fund your transfer. You can deposit the funds that you ish to send through an electronic funds transfer, or using your debit or credit card.
  3. Complete the transfer. Once you fund your transfer, the money will be deposited in your recipient’s bank account. Your recipient can also get in from a cash pickup point or directly deposit it into your recipient’s mobile wallet.

Besides, when you need assistance with your account, the Exchange4free’s online help centre contains questions and answers where you can get additional information that can help you with your money transfer needs. Their customer support is also accessible via the phone, through email or live chat.

Frequently Asked Questions

Can I deposit money into my Exchange4free account?

You can put money or transfer funds into your account via electronic funds transfer, debit card or credit card.

How can I track the progress of my international transfers?

You can check the progress of your transfer by visiting the Track my transfer page on the Exchange4free website. They will also send you an email or an SMS alerts to keep you posted with the progress of your transfer.

How long can my recipient get the funds?

The money you transfer will normally appear in your recipient’s account within one to three business days. Additionally, cash collection transfers are regularly processed in just  24 hours.

How will my recipient collect the funds?

There are three ways on how your recipient can collect funds with Exchange4free

  • Direct bank deposit into your recipient’s bank account
  • The funds can also be transferred directly into your recipient’s mobile wallet
  • Your recipient can also utilise cash pickup at more than 250,000 locations across the globe.