Currencies Direct
- Company typePrivate
- Founded1996
- HeadquartersLondon, United Kingdom
- Headcount251–500
- GTM typeB2B and B2C
- OfferingServices
Currencies Direct firmographics
Firmographics- Name
- Currencies Direct
- Legal name
- Currencies Direct Limited
- Website
- https://currenciesdirect.com
- Company type
- Private
- Founded year
- 1996
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Ownership category
- akta.pro rank
Currencies Direct industry classification
Industry- Product category
- Foreign Exchange Services
- NAICS
- Securities and Commodity Contracts Intermediation and Brokerage (5231)
- akta.pro primary industry
- Multi-Currency Accounts, Wallets & FX Management (Consumer/SME) (FSAGAKAF)
- akta.pro secondary industries
- Cross-Border Card-Based Transfers & Multi-Currency Cards (FSAGAKAE), Cross-Border & FX Payments Platforms (BPAMAFAK)
Keywords
Where Currencies Direct is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices8 records
Markets served
Currencies Direct business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others
Revenue model
- Foreign Exchange Margin: Currencies Direct buys currency in bulk at wholesale (interbank) rates and adds a variable margin before selling to customers. The margin is their primary return. Larger transfers receive better rates as the company can take a smaller margin. No transfer fees for most transfers, though fees may apply for Batchpay service.
- Partner Referrals: Partners earn commissions for referring customers who complete qualifying transfers of £5,000 or equivalent. Commission credited to both referrer and referred accounts.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Personal transfers with competitive FX rates and no transfer fees |
| Transaction based/ take rate | Pay-as-you-go | Business FX and international payments with dedicated account management |
| Other | Pay-as-you-go | Referral program: £/$50-100 credit for both referrer and referred friend |
Go-to-market motion3 records
Distribution channels6 records
Marketing channels5 records
Currencies Direct product offering
Product offeringCore offering
Currencies Direct is a commercial foreign exchange specialist that buys currency in bulk at wholesale interbank rates and resells it to customers at a margin. It facilitates international money transfers to 120+ countries in 40+ currencies through online, mobile, phone, retail branch, and partner channels, supported by dedicated account managers, multi-currency accounts, forward contracts, and risk management tools. It serves both individuals (property purchases abroad, FIRPTA withholding recovery, pensions, education fees) and businesses (international payroll, supplier payments, batch payments, API-automated treasury workflows).
Product overview
Currencies Direct offers a unified platform for international money transfers and FX services across personal and business segments. The core offering consists of Large Transfers (for significant one-time transfers with dedicated account management) and Everyday/Regular Transfers (for recurring payment needs), supported by an Online Account and Mobile App for 24/7 self-service access. Specialized services include FIRPTA assistance for US property sales, property purchase support, and a Multi-Currency Card for spending abroad. For business clients, the platform extends to Business FX Solutions with Multi-Currency Accounts, Batchpay for mass payments, and a suite of risk management tools including Forward Contracts, Market Orders, and Currency Hedging. The Partner Portal provides API access (25+ endpoints) for partners to integrate services. Rate alert and target/fixed rate services are available across both personal and business tiers.
Differentiator
Problem solved
Functional benefit
Products and services
- Personal International Money Transfers FX transfers for individuals.
- Business FX Solutions Business FX and international payments.
- FIRPTA Withholding Recovery FIRPTA withholding tax reclaim.
- Buying Property Abroad FX support for overseas property buyers.
- Multi-Currency Card Multi-currency Mastercard debit card.
- Online Account Platform Online FX transfer platform.
- Mobile App Mobile FX transfer app.
- Partner Portal and API Suite Partner referral platform and API suite.
- Refer a Friend Program Referral rewards program.
Quantifiable outcome
- 500,000+ customers served since 1996
- +2 more outcomes
Companies that use Currencies Direct
Customer profileNamed customers2 records
Segments4 records
Ideal customer profiles3 records
Currencies Direct technology and API
TechnologyTechnology focussed No
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
Feature8 records
Currencies Direct partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered minor.
- Transact Payments Malta LimitedminorMastercard issuer for EEA residents; duly authorised and regulated by Malta Financial Services Authority as a Financial Institution
- Transact Payments LimitedminorMastercard issuer for UK residents; authorised and regulated by Gibraltar Financial Services Commission
- PwCminorAppointed as auditors of the Currencies Direct group in 2012
Scale indicators10 records
Recent moves15 records
Expansion highlights5 records
Currencies Direct competitors and assessment
Company assessmentBroad incumbents
- MoneyGram: Broad incumbent in cross-border money transfers and bill payment with extensive global agent network. Competes in remittance corridors overlapping with Currencies Direct but at much larger scale and with different distribution model.
- Western Union: Broad incumbent in cross-border money transfers with global agent network and MTO licenses. Overlaps with Currencies Direct on consumer remittance and international transfers, but Western Union's scale and cash-pickup model are fundamentally different.
Direct peers
- OFX: Direct peer in international money transfers and FX for both consumers and businesses. OFX offers comparable products—forward contracts, limit orders, multi-currency accounts—and competes head-to-head in personal and SME segments, particularly in Australia, UK, and North America.
- TorFX: Direct peer in personal and business international money transfers, providing dedicated account managers alongside digital self-serve. Closely comparable in business model, customer segments (property, emigration, business), and high-touch service positioning.
- CurrencyFair: Direct peer in peer-to-peer and direct FX transfers with multi-currency accounts, serving both individuals and businesses with international payments. Comparable product set with focus on SME and consumer cross-border transfers.
- Wise: Direct peer in international money transfers and multi-currency accounts for consumers and businesses. Both compete on cross-border FX with multi-currency wallets, though Wise has built a far larger digital-native scale and price-leadership position.
Emerging players
- Revolut: Emerging player with significant overlap in multi-currency accounts, international transfers, and multi-currency cards. Not focused exclusively on FX but increasingly competing in the same consumer/SME cross-border payments space with a digital-first model.
- World First (Ant Group): Emerging player in cross-border payments with strong B2B/SME focus. Now owned by Ant Group, World First provides multi-currency accounts and FX for online sellers and importers—overlapping with Currencies Direct's business customer segment.
- WorldRemit: Emerging player in digital cross-border money transfers and mobile remittances. Overlaps with Currencies Direct in consumer international transfers but focuses more on mobile wallet and emerging-market corridors.
- Remitly: Emerging player in digital remittances with a focus on immigrant corridors. Overlaps with Currencies Direct on consumer international money transfers, particularly in US outbound corridors, but is more remittance-centric and digital-only.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Currencies Direct social profiles
Digital presenceCurrencies Direct compliance and trust
Trust signalCompliance8 records
Currencies Direct financial estimates
Financial estimateRevenue estimate
Valuation estimate
Currencies Direct leadership team
Management profileNumber of profiles
Profiles5 records
Currencies Direct subsidiaries and ownership
Company hierarchySubsidiaries4 records
Currencies Direct funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Currencies Direct M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Currencies Direct
What does Currencies Direct do?
Currencies Direct is a commercial foreign exchange specialist that buys currency in bulk at wholesale interbank rates and resells it to customers at a margin. It facilitates international money transfers to 120+ countries in 40+ currencies through online, mobile, phone, retail branch, and partner channels, supported by dedicated account managers, multi-currency accounts, forward contracts, and risk management tools. It serves both individuals (property purchases abroad, FIRPTA withholding recovery, pensions, education fees) and businesses (international payroll, supplier payments, batch payments, API-automated treasury workflows).
Is Currencies Direct a public or private company?
Currencies Direct is a private company. It is classified as private equity controlled and is currently operating.
When was Currencies Direct founded?
Currencies Direct was founded in 1996. It employs 251 to 500 people.
Where is Currencies Direct based?
Currencies Direct is headquartered in London, United Kingdom, in the Europe region.
How does Currencies Direct make money?
Two revenue lines are on record. Foreign Exchange Margin is the primary driver. The others are partner Referrals.
Who are Currencies Direct's main competitors?
Broad incumbents on record are MoneyGram and Western Union. Direct peers are OFX, TorFX, CurrencyFair and Wise. Emerging players are Revolut, World First (Ant Group), WorldRemit and Remitly.
Does Currencies Direct have an API?
Yes. Over 25 APIs available for partners, including automated quotes, lead referrals, making payments, and commission reporting. Partners can integrate services directly into their platforms to earn commission on referrals or improve customer experience by integrating real-time FX. Developer documentation is at developer.currenciesdirect.com/api/build/#why-use-the-api.
What industry is Currencies Direct in?
Currencies Direct's product category is Foreign Exchange Services. Its primary akta.pro industry code is FSAGAKAF, Multi-Currency Accounts, Wallets & FX Management (Consumer/SME), with a secondary code of FSAGAKAE, Cross-Border Card-Based Transfers & Multi-Currency Cards. Its NAICS code is 5231.