Many individuals have found themselves in situations where they want to exchange money as they have traveled to another country, or they want to send some money abroad to their loved ones abroad.
The one option they have is to make a wire transfer or a bank transfer that is quite lengthy, and it costs much depending on the amount of money you are going to send to the other party.
The exchange rates keep on fluctuating all through the day and that makes it very hard to get a fair price for your transfers made from the bank since they will always want to make a good killing off of your troubles.
That is why UK Forex came along to give a fair playing ground for any person out there who wanted to make an international money transfer.
They have no transfer charges and they also do their transfers in a short amount of time, or they do their best to ensure that their transfers get to the recipient as fast as possible.
About UK Forex
UK Forex is a registered company in the United Kingdom, and they are registered in England and Wales, and their reference number is 04631395 since they are offering related financial services in the United Kingdom they are regulated by the Financial Conduct Authority under the reference number FRN: 521566.
Since they are dealing mainly in money transfer service the anti-money laundering laws are highly effective in their case.
They have the Money Laundering Regulation Number which is issued by the HM Revenue and Customs (HMRC). The license number given by the above-mentioned body is 12219180.
UK Forex Review
UK Forex is part of the larger OzForex Group, and it is just a subsidiary of the main branch which wholly owns it.
The OzForex Group was established in 1998, and it has continually grown to become the largest online international money transfer service provider in the world.
UK Forex is one of the later branches to be opened in London, United Kingdom in 2005; other branches include the Sydney office, Toronto office, San Francisco office, Hong Kong office, and the Auckland office.
To run such a successful organization, it is important to have partners who will offer you the best pricing for your money transfer services.
This is the main reason why they have partnered with Barclays, UBS, and Bank of New York.
These partners facilitate the quick and timely transfers that UK Forex has come to be known for in the years they have been serving the masses.
OzForex has been hard at work over the years improving their money transfer technology and thus they have become the go-to company for money transfer technology.
That is why money transfer companies like Travelex, MoneyGram, ING Direct, and Macquarie International Money Transfers utilize their technology which has been providing flawless services for quite a while now.
They are offering their services 24 hours a day, so there is no time one can fail to send money or receive money.
They have been able to make over 581,000 money transfers in a year, and that is the average number meaning some years this number is surpassed.
They have over 50 different currencies in which the clients can transact with; they were able to make AUS$13.6 billion in transfers in the previous year this has given them a big push towards achieving their goal as the best online money transfer company.
Their website has become a hive of activities, and they receive an average of 65,000 visits a day.
UK Forex: How to Send Money Personally?
UK Forex has ensured the online money transfer is easy to perform since they understand how strenuous the process is at the banks.
The following is a step by step process of sending money online using UK Forex.
First, if you do not have an account, you register for one, and it is free.
If you have an account, you can go straight to the next step, and that is to log in to your account and get the live exchange rate as it is on the market.
This ensures that you will not get an exchange rate that has been altered like the one offered by the banks with extra charges included to it.
After you have checked and decided on the exchange rate and selected the price you want to have your transaction be filled at you will now enter the recipient’s bank account number and get another live exchange rate.
After you have done this, you can enter the recipient’s bank account details, and this will be directed towards booking your money transfer.
The last step is to send the funds to UK Forex and wait for them to deliver your funds.
With all the information you need this process will not take you more than five minutes to complete compared to the long periods of time one uses while doing the same process at a bank.
UK Forex does not charge you any fees for the transfer whereas the bank charges anywhere between $15-$30.
UK Forex: Review of Their Advantages
UK Forex will always be your best bet when making transfers because they do not charge you a dime for it.
After offering you the service for free, they also ensure the time taken for the recipient to receive the money has been totally reduced, all this is done without you having to inquire if the recipient has gotten the transfer because they inform you immediately the funds are deposited into the client’s account.
They offer better rates than banks, and that is why they are even a better choice compared to the banks any day.
They are further regulated by the Financial Conduct Authority, and that makes them one of the most reliable institutions in the United Kingdom for online money transfers. In addition to this, they have different kinds of transfers that one can select from so it is better to utilize their services if you have different kinds of transfers you want to make.