GlobeFirst is one of the largest and most reliable foreign exchange trading companies. An easy registration process (ten minutes), personal account manager and excellent rates (from 0.10% to 0.30% surcharge) are characteristic of the organization, which thus beats the rates and services of any other similar company.
GlobeFirst Price Store (September 2020 Spread)
In 2019 GlobeFirst started a new cost structure, in which they use the interbank exchange rate with a fixed low exchange rate . That makes GlobeFirst the cheapest way to transfer foreign currency. This also applies to all company sizes, from ZAP employees to large corporations.
|Currency pair||Interbank exchange rate *||WorldFirst's minimum rate **||WorldFirst's maximum rate ***|
|USD to USD||1.17613||1.17730||1.17965|
|USD to USD||0.85071||0.85156||0.85326|
|USD to GBP||0.91561||0.91652||0.91835|
|GBP to USD||1.09217||1.09326||1.09544|
|USD to AUD||1.62705||1.62867||1.63193|
|AUD to USD||0.61461||0.61522||0.61645|
|USD to HKD||9.11554||9.12465||9.14288|
|USD to UAE Dirham||4,31940||4,32371||4,33235|
|USD to SGD||1.60145||1.60305||1.60625|
* WorldFirst's minimum rate is a 0.10% spread for companies with a transaction amount greater than $ 5,000,000 per year.
** WorldFirst's minimum share price spread is a 0.30% spread for companies transferring less than $ 500,000 per year. For companies with an annual transaction amount between $ 500,000 and $ 5,000,000, a spread of 0.20% is used.
**** The interbank rate is a snapshot of September 22, 2020. We rely on external software to retrieve currency rates. As a result, we cannot guarantee the accuracy of the figures. We therefore always recommend that you request the current rates from GlobeFirst before executing an international transfer.
Check the current rates at GlobeFirst here.
How does GlobeFirst work?
Are you planning to make an international transaction? GlobeFirst is reliable, guarantees fast transactions and - not unimportantly - is cheap.
Such an international transaction starts with closing an account. This can be done by telephone, but also online. An application takes on average between ten and sixty minutes, depending on the type of customer. For example, the process takes longer in the case of online merchants: users with personal goals are usually up and running in ten minutes.
Once closed, choose one of the available ways to make the transaction and accept a specific exchange rate. This rate is held for 3 days, so you have enough time to transfer the money to GlobeFirst. Once GlobeFirst has received this payment, they will send the amount to the recipient. In the chosen currency, of course.
How do you make a transfer?
The Currency Shop explains in the video below (in 2 minutes) how you can easily make a transfer via GlobeFirst.
GlobeFirst currency exchange rate store and costs
You pay no costs in advance when you use GlobeFirst for international transactions. That's because GlobeFirst uses a so-called interbank rate . The interbank rate is the rate that banks and other large financial institutions use to trade with each other.
For example, it is used to buy and store currency before reselling it to the customer. Unlike with traditional banks, GlobeFirst passes on these savings to customers, who therefore save money. The phenomenon is also called a spread .
There are currently comparable services that also pass this interbank rate on to customers, but they then add a so-called markup to the rate used, so that customers still pay a fee. GlobeFirst does not do that either.
It is possible that the corresponding bank charges certain costs. These costs are also called correspondent costs and are added to the overall picture via the SWIFT network. GlobeFirst can pay these costs for you if possible.
Speed of transfers
Once you've agreed to a transfer, you send the money to GlobeFirst. GlobeFirst must then receive and settle it before it can be sent to the receiving party.
The speed of such transfers depends, to some extent, on how long it takes for your own bank to send the money to GlobeFirst. Are you in a hurry? Then it pays to make an urgent transfer from your current bank to GlobeFirst. These transactions usually take the least time and are credited to GlobeFirst's account relatively quickly. BACS transfers usually take the longest.
1 to 4 days
GlobeFirst usually processes the amount on the same business day that the money is received . It must be USD (EUR) or American dollars (USD).
The recipient in question can then have their money within one working day.
With other currencies, the transaction usually takes about one to four business days in total.
Is GlobeFirst safe and reliable?
GlobeFirst is part of World First Limited, a company registered in the United Kingdom. The organization is the market leader in currency exchange and international payments to both private and business customers. World First Limited was founded in 2004 and has grown quite rapidly since then. It now has offices on four continents and employs more than 600 employees.
In that regard, we can also say yes to the question of whether GlobeFirst is safe and reliable. They are among the best international money companies and the millions of customers who use GlobeFirst on an annual basis are largely satisfied.
It also helps to know that GlobeFirst never speculates on the currency market. Is a customer entering into a transaction with GlobeFirst? Then it always concerns a suitable cover agreement. Also good to know: the main transaction banks for World First are Barclays and Citibank, both of which are one of the most recognized and secure banks in the world.
Finally, GlobeFirst has won several awards for its safety and reliability. The company has won a UK Customer Experience Award and a UK National Business Award in the past. In addition, World First Limited was named the winner of the Queen's Awards for International Trade in 2016 - quite a prestigious award in the United Kingdom.open an account Open an account