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Frequently asked questions

There are no fees to open or hold an account with WorldFirst. For personal transfers, there are no fees for all transfers. However, we require a $1,000 transfer minimum or $10,000 minimum for some exotic currencies (see “How much can I transact with WorldFirst?”). For business customers, we agree a fee structure that reflects how much business we do together. And, for online sellers there are no fees for transferring funds back to domestic accounts.

Sometimes the banks in the middle and at the end will take a charge for wire transfers, so it seems that not all the money has been sent but we try our best to make sure all your money gets to where it needs to by covering correspondent and receiving charges where we can.

If you want to open an account for personal use you can do it over the phone or online. Over the phone shouldn't take longer than 10 minutes. It's super-fast to open an account online too - we can usually get you up and running within an hour (we'll need to verify your identity). Business clients and online sellers can open an account online and our team will get you sorted out as fast as they can.

For most currencies, you can transact any amount over our $1,000 transfer minimum. There is a $10,000 transfer minimum for the following exotic currencies:

  • Barbados Dollar
  • Botswana Pula
  • Bulgarian Lev
  • East Caribbean Dollar
  • Egyptian Pound
  • Fijian Dollar
  • Indian Rupee
  • Jamaican Dollar
  • Jordanian Dinar
  • Kenyan Shilling
  • Kuwaiti Dinar
  • Malaysian Ringgit
  • Mauritian Rupee
  • Moroccan Dirham
  • Nepalese Rupee
  • Pakistani Rupee
  • Philippine Peso
  • Romanian Leu
  • Russian Ruble
  • Sri Lankan Rupee
  • Taiwan Dollar
  • Trinidad & Tobago Dollar
  • Turkish New Lira
  • Ugandan Shilling

At WorldFirst we can help make international payments from one bank account to another. We can't help you out with your vacation money or cash.

Ensuring the safety and security of your money is central to our business. World First USA, Inc. is registered in the USA (Delaware State Division of Corporations file number: 4971976) and is registered as a Money Services Business in the United States with FinCEN and is registered as a non-depository financial institution with the Nationwide Multistate Licensing System (NMLS#1018479). World First USA, Inc. is able to offer a full service in some States, however in other regions our service is limited. View our State Authorization list. World First USA, Inc. is registered in Canada with the Financial Transactions and Reports Analysis Centre of Canada registration number M11393445. We are required to hold sufficient capital to protect our business and further safeguard our customers. We maintain high levels of capital. If you'd like a bank reference for us please give us a call, we'd be happy to oblige. Find out more about where the companies under the WorldFirst Group are registered and regulated. You'll find full information on our security page.

We always try to quote you a better rate than your bank and if you're quoted a better rate, we'll match it – we've even got a promise. Savings are usually from 0.25% up to 4% of the amount being transferred. We try to cover third party fees where we can (i.e. the fees from the banks who handle the transfer along the way).

The rate you usually see on online currency converters is the Interbank Rate. This is the rate that banks and large financial institutions use to trade with each other. It is not the same as the rate they offer you. They quote you a different rate and that's where they make their money. This is known as the spread, or the margin. We make our money by taking a smaller margin and passing that saving on to you.

Yes, you can lock in a rate now for a date up to 3 years in the future. This is often called a forward contract. You might need to pay an initial deposit and then the balance will be due at the end of the contract. If the rates move against you may need to top up the deposit. Your account manager will explain and discuss this with you before you book your forward. This can be ideal if you want to know exactly how much you'll get when you come to make your transfer.

When you book a transaction with WorldFirst you enter into a contract to purchase that currency. WorldFirst enter into an identical transaction with our bank in order to guarantee you the quoted rate. If you no longer wish to go ahead, we will need to sell back the currency that we have purchased for you. Depending on market movements there may be a loss involved which would be passed onto the client as a fee. Please call the dealing team if you have any further queries about this.

Firstly you can set up a rate alert online by clicking https://trading.worldfirst.com/rate/alerts/edit and entering the currency pair, amount and target rate. You can then select how you would like to be alerted when your desired rate is available, either by phone or email.

No, you must speak to your account manager to discuss setting up a firm/market order.

If your details have changed please email updates@worldfirst.com with your account number and your new information. Just so you know, if you've moved you may need to provide proof of your new address.

If you're unhappy with any aspect of your transaction with us, please contact your relationship manager. Your complaint will always be investigated and you'll receive a formal response. We appreciate all feedback, both positive and negative, as it helps us tailor our services to your requirements. See more information on our Complaints Procedure.

This depends on a couple of things, including the currency you're sending or buying, the bank used and the size of the transaction. If it's sterling, US dollars or euros then we'll usually make a same-day payment when we receive your cleared funds. The payment will arrive fully cleared with your bank the same day though they may not credit your account until the next business day. With other currencies, we send your payment out on the date agreed but you'll need to allow one to four days for your funds to reach the recipient. The length of time depends on the currency. For example for Swedish kroner, it will be 1 day; for East Caribbean Dollars it could be 4 days. Transfers to Australia and New Zealand will usually clear within 24 hours. If you're sending USD to another country (not the US) then you should allow up to 4 days for it to clear. If you need funds to arrive by a particular date please call us for accurate information for the country you are sending funds to. In rare circumstances delays may occur. WorldFirst will do everything reasonably possible to ensure that funds arrive on time but is not liable for delays caused by intermediary or receiving banks.

Yes we can receive funds from an account in a different name to yours, but due to Anti Money Laundering regulations we will need to verify the source. Please contact us for more details.

We are a member of SWIFT network (Society for Worldwide Interbank Financial Telecommunication) - the main system used throughout the financial world to make payments securely with speed, certainty and confidence. Once we've received your cleared funds we pay the account(s) on the agreed date. We'll send you confirmation in a PDF to let you know everything has gone through. Please note that the funds will arrive in the beneficiary's account from WorldFirst, rather than your name. There will be a reference which starts with WFPAY followed by a sequence of numbers.

For all payment / beneficiaries, we require the full account name and the following information depending on the destination of funds;

  • Europe - IBAN and SWIFT
  • Canada - account number, SWIFT and Transit code
  • Australia - account number, SWIFT or BSB code
  • New Zealand - account number, 6 digit bank code and SWIFT
  • USA - account number, ABA routing number or SWIFT
  • UK - account number and sort code or SWIFT and IBAN
  • India - account number, SWIFT and IFSC number, reason for transfer
  • China (USD) - account number, SWIFT
  • China (CNH) – account number, CNAPS code, SWIFT and purpose of payment
  • Mexico - account number, (Clabe no). and SWIFT
Please call us for information on other countries.

Once you've booked your transfer, we’ll let you know our client bank account details and also tell you when you need to send the money to us by.

When you book your trade, you will be given a 'funds in' date based on the method you chose for sending funds to us. You need to make sure that your funds are with us and cleared by that date.

For personal transfers: If you’re sending from your domestic US account to your overseas account we are able to receive funds via ACH Direct Debit. There’s an initial transaction limit of $25,000, and $50,000 for transfers thereafter. For all other personal transfers we ask you to send us your money by domestic wire transfer. For business transfers you can send us your money by domestic wire transfer or ACH direct debit. Please speak to your account manager who will help get ACH Direct Debit set up for you.

We can only send payments once your funds are with us and have cleared.

You can send funds to WorldFirst at any time as long as they are cleared by the date of the outgoing payment on your transfer confirmation. If your funds aren't yet with us, your payment won't leave.

We'll make the payment to your beneficiary on the date we agree when you book your transfer. Your beneficiary might not be able to access the money right away as their bank might take some time to clear the funds for them. Please note that the funds will arrive in the beneficiary's account from WorldFirst, rather than your name. There will be a reference which starts with WFPAY followed by a sequence of numbers.

As we are making the payment on your behalf, the funds will arrive in your beneficiary's account from WorldFirst and not in your name. There will also be a reference which starts with WFPAY and followed by a sequence of numbers. Make sure to let your recipient know just in case they're expecting to see the money arrive in your name.

This doesn't often happen, but if your funds don't arrive within the expected timescale, then let us know as soon as possible so that we can set up an investigation with our bank. We will continue to liaise with our bank until the issue has been resolved and the beneficiary has received the funds. We’ll keep you informed every step of the way. Don't forget: the payment will show as coming from WorldFirst, and not your name - so keep an eye out for WorldFirst on your statement. The payment will have a reference that starts with WFPAY followed by a sequence of numbers.

To see a rate, go to 'Book a Trade'. Select the currency you wish to buy and follow the steps. You will be shown a live rate. You can choose to book the trade and add payment details or you can cancel.

No - get in touch with your account manager and they will have a look at it for you.

This is only possible for Corporate and Private accounts. Ecom clients cannot book forwards online. Simply book your trade in the usual way but change the date on the calendar to the date you need in the future. If you haven't booked a forward contract previously it is advisable to speak to your account manager first.

A beneficiary is the person or organization you wish to pay.

Your payment will leave WorldFirst on the day stated on your trade confirmation, once your payment has been received by us and has cleared.

Use the 'Payments From Trade' option in the menu on the left-hand side of the screen when logged into WorldFirst Online. It will show you the trades you've previously booked and you will be able to choose which beneficiaries to send them to.

Yes. If you have already booked your trade, use the 'Payments From Trade' option in the menu on the left-hand side of the screen when logged into WorldFirst Online. This will allow you to add as many beneficiaries as necessary to your trade. If you haven't booked your trade, use the 'Book a Trade' option. This will allow you to add multiple payments and book a larger trade to cover all of them.

Use the 'Payments From Trade' option in the menu on the left-hand side of the screen when logged into WorldFirst Online. This will display your trades with remaining balances. You will be able to add a payment and then select which trades you want to use to fund it.

First of all, try choosing a different way of sending funds to WorldFirst. If you send funds to us by wire transfer rather than direct debit, you should be given an earlier payment date. Remember that there are some currencies that we can't buy for the same day or the day after. If you are still unsure, please get in touch with your account manager.

Our client relations team will contact your directly by phone within 1 working day after you register online. They will assist you in completing your registration.

It’s free to open an account and we don’t charge fees for receiving money or charge any ongoing account holding costs.

: You're given online access to your accounts, so you can log in and view current balances and credits for your European, UK, AUD and NZD account at any time. If you have Canadian accounts you will receive a balance notification email every Monday.

You can log into your online account and transfer your balance(s) at any time of the day. You can also request to have your balances transferred automatically as we receive funds from the marketplace. For all other currencies, please login to your online account or speak to your account manager. Please make sure you have added details of the beneficiary account on WorldFirst Online before you make a transfer. You can see how to enter these details in the answer to the question "How do I enter my bank details for my home account?" below.

Log in to your online account and click on 'create a new beneficiary'. These details will come through to us to verify. Please note that we cannot pay to third parties - the account must be in your name or your company name. Please make sure that the account is denominated in a different currency to the one you hold in your WorldFirst account. If you are unsure on any of your bank details please check them with your bank.

Yes. You can view all incoming and outgoing funds for your European ,UK, AUD and NZD accounts by clicking on the 'Your statement(s)' tab on the online system.

Yes. You can view all incoming and outgoing funds for your European ,UK, AUD and NZD accounts by clicking on the 'Your statement(s)' tab on the online system.

E-commerce marketplace sites that have been approved by WorldFirst. Please contact the team if you would like to know if a website that you would like to sell on is supported. If it's possible, the member of the team will tell you immediately.

No, the account is only used for the purpose of receiving funds in from the e-commerce site that you are selling on.

We can open receiving accounts in the UK, USA, Europe, Canada, Australia, New Zealand, China and Japan. These accounts can only be used to receive funds from marketplaces in those countries.

WorldFirst do not provide you with a credit card or an address. Please speak to your marketplace representative when you upload the account details we give you. They will be able to help you or direct you.