The Currency Club

The Currency Club: online currency exchange with transparency

The Currency Club is a British currency exchange platform that operates online and allows you to buy and sell cash in different currencies, as well as make international transfers. Its proposition focuses on offering access to the live interbank exchange rate at the time of the transaction, with the aim that the user can compare and know the real cost of the operation.

Buying cash for travel

The currency buying service allows you to purchase foreign currencies for travel. Among the available currencies are the Australian dollar, the euro, the Turkish lira, the UAE dirham and the US dollar, among others. The company indicates that spreads over the interbank rate can be as low as 1.15% for the euro, 1.16% for the US dollar and 2.67% for the Australian dollar. Orders are placed online and the cash is delivered to your home.

Selling leftover currency

In addition to buying, The Currency Club offers a buy back service so that customers can sell the currency they have left over from their trips. The same currencies mentioned above are available for sale, and the company states that its buy back rates are cheaper than those of other providers. The process is also managed online.

Sending money abroad

The platform allows international transfers for individuals and businesses. For transfers from the United Kingdom, destinations such as Australia, Canada, Turkey, the United Arab Emirates and the United States are advertised. The company applies decreasing spreads based on the annual volume transferred: from 0.4% for amounts between 0 and 500,000 GBP/EUR, 0.35% for amounts between 500,000 and 5 million, and 0.34% for more than 5 million. Two types of transfer are offered: a standard one from the bank account and an advanced one from a GBP account outside the United Kingdom, with a stated fee of 369.39 GBP in the example shown.

Services for businesses

For the corporate sphere, The Currency Club provides foreign exchange (FX) risk management services through its international payments team, as well as wholesale currency supply through white label platforms. The company also mentions tools such as exchange rate alerts and market orders, and offers guides on SWIFT/BIC codes and on how to send money abroad cheaply.

Delivery of cash in pounds

An additional service is the home delivery of cash in pounds sterling (GBP Cash), which allows customers to order cash in their own currency and receive it securely at home, without needing to go to a branch. The company highlights that this method offers control over spending and avoids bank queues.

Rate comparison and focus on transparency

The website includes tools to compare the exchange rates offered by The Currency Club with those of the interbank market and with those of airports and high street providers. The company maintains that many banks and bureaux de change hide margins in the exchange rate and that its proposition consists of showing the live interbank rate before making any transaction, with no hidden fees. Likewise, comparisons of potential savings for different currencies are presented and it is indicated that the rates shown are only available for online payments, as branch rates may differ.

Recognition and presence

The site displays a Trustpilot seal as a "Top Rated Company" and mentions having been ranked first out of 96 on Review Centre. The company also publishes a notice about possible delays in shipments due to Royal Mail strikes, recommending that customers place their orders in advance.