We've recently updated our terms & conditions. Please click here to download.

Criminal Finances Act Statement

On 30 September 2017 the United Kingdom government brought into force the Corporate Criminal Offence (CCO) as part of the Criminal Finances Act 2017. The CCO subjects companies to criminal liability if they fail to prevent those who act for them, or on their behalf, from criminally faciliating tax evasion. Importantly for WorldFirst, this liability extends to any activity conducted on behalf of our clients.

The legislation has an extra-territorial effect meaning that it applies globally in cases where any underlying tax is owed to HM Revenue and Customs (HMRC). It is also applicable to instances where non-UK taxes are owed by a company incorporated in the UK, has a place of business in the UK or has had any aspect of the offence occur in the UK. As a UK regulated financial institution, WorldFirst Group is fully in scope for the CCO.


WorldFirst maintains a zero tolerance to all forms of tax evasion, whether under UK law or under the law of any foreign country. It is our policy to conduct all of our business dealings, both those directly related to WorldFirst itself and those of our clients, in an honest and highly ethical manner.

WorldFirst maintains a zero tolerance to all forms of tax evasion, whether under UK law or under the law of any foreign country. It is our policy to conduct all of our business dealings, both those directly related to WorldFirst itself and those of our clients, in an honest and highly ethical manner.

As such, any employee, contractor, associate or representative of WorldFirst must not undertake any transactions which:

  1. Cause WorldFirst to commit a tax evasion offence; or,

  2. faciliate a tax evasion offence by any third-party that is not an associate of the company, including its clients


WorldFirst is committed to the following principles with regards to the risk of tax evasion by its clients:

  • WorldFirst’s relationship with its clients are built on honesty, integrity, mutual trust and a commitment to professionalism.

  • WorldFirst clients expect the company to give the best possible advice and work in their best possible interest.

  • WorldFirst firmly believes that any action which would breach tax laws or the Criminal Finances Act is not in the best interest of its clients.

  • Neither the company nor any person associated with the business will give advice to a client that would result in a breach of the Criminal Finances Act, either for WorldFirst or its client.

  • Neither the company nor any person associated with the business will give advice to a client that would result in a breach of the Criminal Finances Act, either for WorldFirst or its client.

  • WorldFirst will not support or work with clients who seek to criminally evade taxes, wherever in the world the tax is owed.

World First Pty Ltd is a designated remittance provider with the Australian Transaction Reports and Analysis Centre (AUSTRAC), remittance sector registration number: IND100192523-001. Regulated by the Australian Securities and Investments Commission (ASIC), Australian Financial Services Licence (AFSL) number 331945. Australian Company Number (ACN) 132 368 971. Member of the Australian Financial Complaints Authority, membership number 13405.

If you’re considering making a foreign exchange transaction, or you’re a new or existing customer looking for more information, it’s important your read our PDS available online.

*0.50% or less applies to 25 of our major and most popular currencies.

Price match applies if it doesn't result in a loss for us, we'll match it.

Many banks and payment providers frequently claim to offer “fair” and “transparent” pricing, yet the reality is something very different. Our new pricing model aims to provide both new and existing customers with fair, simple and transparent pricing, using 3 clear FX margin bands margins (0.5%, 0.25% and 0.15%) with no hidden fees. With transparent pricing our customers and potential customers can clearly compare WorldFirst to our competitors.

How do we collect this data?

WorldFirst obtain price comparisons from other international payment providers’ websites, at specific dates and time using a third-party supplier. The comparison table shows the spread applied by the competition to transfer amounts of AUD 1,000, 10,000 and 50,000 into EUR, USD and GBP.

1. The spread

The spread is the percentage difference between the exchange rate we buy our currency at and the rate at which we sell it to our customers. We at WorldFirst take a smaller spread than most banks and other currency companies, and pass this benefit on to our clients, making all our transfers simpler and more transparent.

2. The cost of international payments

For each pricing band we look at the FX spread applied. This is what we use to compare against our fixed bands of (0.50%, 0.25% and 0.15%).

When researching and making comparisons it is important to know if any additional transaction charges will be applied such as payment fees or account management fees. For most customers WorldFirst does not apply additional fees to make payments or to maintain an account with us. If any fees are applicable these will be made clear to you in advance.

3. How do we work out a comparison up to 8 times cheaper than the banks

When we collect data from providers, we do it using different “amounts” such as $1,000, $10,000 and $50,000 where possible. For our data we have focused on the top currency pairs in Australia: GBP to USD/EUR/AUD.

Because the WorldFirst fixed pricing tiers are based on annual volumes transacted by our customers, we have averaged out the spreads applied by competitors to transactions of differing amounts in those tiers to calculate an average spread. We take our spreads and divide by the average spreads of the big 4 banks. This is important, because providers tend to offer better exchange rates and smaller transfer fees when a customer is moving larger sums of money.

What all this means for you

Other money-transfer providers may have variable spreads across different currencies, whilst WorldFirst now has fixed spreads, agreed ahead of time, making it easier to compare.