Global Foreign Exchange Services
Frequently asked Questions
Why choose FirstForex.
We are experts in currency exchange and the transfer of funds; we offer our clients a personalised service, working with them to find the most competitive exchange rate.
How do I open an account?
Opening an account is easy:
- You can register online.
- You can download a registration form.
- You can request a call back to ask for registration form/information pack.
Is my money secure?
Yes, all funds are held in segregated client accounts with Barclays Bank plc.
Who regulates your business?
We are regulated by HM Revenue & Customs who regulate all foreign exchange money transfer businesses. FirstForex HMRC registered number 12298995
Why should I use FirstForex for my currency purchase?
We will save you money on your Foreign Exchange purchase by getting you a better rate of exchange than your local bank and the overseas currency transfer is free, however there is a £10 pound fee charged for the currency transfers on trade amounts of less than £5,000.
How do I pay for the currency I have purchased?
This can be done in three ways.
- By direct same day money transfer (CHAPS) from your bank directly to our client account at Barclays Bank PLC.
- An online or branch payment via the Banking Automatic Clearing System (BACS) which will take 3 to 4 working days
- By bank cheque or money order which will take up to 5 working days to clear after receipt
When will my currency be sent to the beneficiary account?
This will be done on the agreed date after we are in receipt of your cleared funds.
How long does it take for the currency to arrive in the beneficiary account?
The foreign currency transfer will be arranged on the agreed settlement day and sent to the beneficial account instructions given to us, by you. Your money should be with the recipient within 48 hours but sometimes this depends on which country it is being sent to.
What are the charges for the transaction?
FirstForex makes no charge for the purchase/sale of the currency or for the transfer overseas on amounts over £5000 pounds