In order to satisfy my quest to find the ideal currency transfer company for my upcoming transfer of 100,000 USD to GBP, I tried my luck with US Forex (now branded under giant OFX) Review. US Forex Review had sustained great reviews of their services and thus, I decided to see how they handled my particular case in order to decide whether they beat out Currencies Direct or World First. Below is what I found in my attempts to sign up for their currency transfer service and to receive a quote for my prospective transfer.
Registration
The registration process started out strong with the usual required information for the industry. Here is the page that was initially needed from the prospective customer to register with US Forex’s service. The important aspect to note with US Forex is that they start the information that they request in order to determine your prospective domicile. At that point, they get into the specifics of what kind of amount and in what currency that you are considering transferring. This is how they direct you to the proper department and determine if you are a risk for potential money laundering.
Once I entered in the information that was desired, I was immediately presented with another screen that verified my social security number since I am a United States citizen. Below is the screen in which I was prompted to enter in my confidential information.
I was happy to provide US Forex / OFX with this information and it speaks very highly of the security measures associated with their site. This is important to remember in that when you are choosing a respective currency trading company that you want their site to be as secure as possible and you want them to ask you pertinent identification information. This is a positive indication that their service and company is reputable since they are following the standard protocols that the industry dictates at the current moment.
What made US Forex lose a little bit of respect with my transaction was their calling prompt that happened after the registration process. I was prompted with a screen like the first photograph below and then given a pop up window that mandated that I call their customer service to further finalize my account and pass the security screening process.
Back in the day when I first tried to sign up with the firm, I was promoted to ring them up once I have completed the process to complete the verification of my account. Luckily, those days are past us and OFX has implemented new systems in place to streamline the process and make it more efficient and friendly. This is a pet peeve for me – if you are asked to call a company to complete any process , you should just give up at that instance! So from my current whereabouts in the UK it is easy as peaches to sign up with OFX (previously USForex / UKForex) but if it is not for you – don’t bother!
The Transfer
In my first transfer, the registration stage took long but the quote was good and very much in line with what I saw from the other recommended companies I tried. Then a few months later I needed to move some money to Australia so I used the online system and received again a very decent rate in line with what other companies suggested that day. It was give or take just £10 in total fees to send about a thousands pounds to Australian for a personal payment. Would have cost me at least £40-60 with the bank, so I was happy with that.
Overall Experience
This USForex review was not the best when I just signed up to the service 1.5 years ago from the U.S. The process was to cumbersome, confusing, and I was pull out hairs until I got approved. Then I created this renewed OFX review in late 2017 and the experience was just super enjoyable, really. They have a great system, great service and great rates.
