Is Cambridge Currencies Safe For International Money Transfers?

[GuestDaddy]

Hi everyone,

I need to transfer €275,000 overseas for a property purchase and came across Cambridge Currencies. They seem professional and offer competitive rates, but I want to be absolutely sure about their safety.

Has anyone here used them for large transfers? Would love to hear your experiences before making my decision!

Thanks in advance!

Why would you not use your actual bank? I don't know Cambridge Currencies, you could check if they're governed by the FCA, but I wouldn't risk it for such a large sum myself.

Never heard of them, which isn't a definitive indicator of their reliability or otherwise, but this is not a time to be taking risks, so if it was me, I'd ask my solicitor how people normally pay for such purchases, but also consider using my own bank, or a well known international money transfer provider like Revolut, Western Union or I'm sure that websites like Moneysaving Expert will have advice on this.

I've always used Wise or Caxton for currency transfer. Never had any problems with either.

@EmmaStone We looked into using the bank, but when my daughter transferred £100,000, she got hit with a 3% fee, lost about £3,000. We've been speaking with a few providers and Cambridge Currencies rate seems to come out on top! We just want to be sure our funds are safe, which they have reassured us they are.

@Bjorkdidit Fair point! We’ve done a lot of research and spoken to Cambridge Currencies directly and they’ve been really helpful. Their rates are much better than the bank, and they’re fully FCA regulated. Our solicitor mentioned that brokers are common for these kinds of transfers, so we’re just making sure we’re covering all bases before going ahead.

@unsync Good to know! We looked at Wise, haven't heard of caxton, but Cambridge Currencies rate seemed better for our transfer. They’ve also been really helpful in answering our questions, does caxton offer account management services?

If CC don't make the grade (I have no idea about them), I'll second Wise - they've been cheap and utterly reliable for me for about the same total money transfer over the last decade. Most of my department used them at work for shifting parent company shares-as-part-of-salary money to the UK, never an issue.

I used Caxton before Wise, last time I checked they were slightly more expensive than Wise, so can't comment on their current offer, but I have never had any issues with them.

This is starting to sound a lot like AI generated self promotion for Cambridge Currencies.

I've used Lumon for a similar purposes last summer after being recommended them by someone in my extended family who manages overseas property purchases for their clients. It was a huge departure for me never having done this before so I was a little nervous but they were just fine.

I can vouch for them! www.cambridgecurrencies.com was the site we used for our foreign currency payment very recently, though this was a much smaller payment I can't imagine the service would be any different! We plan on using them in the future!