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We Swap Currency Exchange Services Review? Hence, WeSwap money transfers are the first of its kind peer-to-peer platform for currency exchange. So, the British based company, which has been on the market since 2014. majorly targets travellers. Also, WeSwap foreign exchange money transfers work by pairing those heading to two opposite direction then swapping their currency directly at a higher rate than banks and existing currency market.

About WeSwap Limited?
The idea behind WeSwap Ltd came from its founder, Jared Jesner back in 2011. He wanted to overcome a system where you had to buy’ money during currency exchange by creating a platform for direct currency swap. This would be more convenient since it kicks out the middle man out of the equation making the exchange rates better for his targeted customers. To complete his equation, sought out the use of a pre-paid card as a delivery mechanism.

In addition, During the launch, the service could only support 6 of the world’s currencies but up to early this year. Also, it has grown to 18 and still counting with over 280 000 registered users. With their centre of attention being customers’ satisfaction during currency exchange. The platform has moved over £30 million. So, Jared Jesner took a bold risk of venturing into this market mainly targeting at travellers who want to go abroad.

WeSwap Currency services?

• US Dollar (USD)
• British Pound (GBP)
• Euros (EUR)
• Danish Kroner (DKK)
• Swedish Kroner (SEK)
• Norwegian Kroner (NOK)

WeSwap Foreign Exchange Money Transfers

So, The invention behind WeSwap Ltd was to make travellers access to exchange rate at a cheap, transparent and a fair rate. This is still the main service offered by them with the some of the currencies they deal in include.

Why open an account?
Opening an account with WeSwap money transfers is a great investment for anyone planning to travel out of the country for a business trip. Also, vacation or holiday.

• So, They offer the best exchange rate available in the market
• Their account is easy to Set
• They make a quick delivery of the WeSwap money transfers card to their customers
• WeSwap services is at the convenience of your fingertip through their mobile app

How to open an account with WeSwap? Opening an account with WeSwap is as easy as 123.
• First, you will need to go to their official website, WeSwaps.com, and create an account. During this proses, you will also need to key in your destination which helps determine the currency you need.

• A pre-paid MasterCard mailed to you in less than 7 days linked to your account
• Load your currency that you want to be swapped via a bank transfer to your WeSwap account
• WeSwap matches other travellers with you heading in opposite direction
• Once a perfect match found, the currency of your account then swapped with your new currency
• Your pre-paid card ready for use when abroad

In addition, Customers interested in opening an account can complete an application by visiting the website. So there no obligation to transfer funds when an account opened. Also, Customers advised retaining a copy of the terms and conditions for their records.

WeSwap Currency Exchange Services

Advantages of We Swap?
With the number of users growing in its platform every year. Hence, WeSwap money transfers boots moving over £75 million in its platform. So, This has increased the revenue by 160%. Some of their advantages include

  1. Cuts out the middle man - WeSwap exchange services ensures that the middleman is cut out of the currency exchange hence the customer will get the best rate on the market.
  2. Low transaction fees - WeSwap charges customers a low 1% as their transaction fee.
  3. Easy to set up account - Setting up an account with WeSwap is quick and easy
  4. Quick delivery - The Pre-paid card delivered to your doorstep in less than 7 days after setting up an account
  5. Smooth transaction - The process of swapping currencies is smooth and fast
  6. Free withdrawal - WeSwap offers its customers up to two-daily withdrawals at the ATM which are free.
  7. Good exchange rates at the Market. In addition, It offers a competitive exchange rate for those looking for foreign currencies.

Disadvantages of WeSwap?

  1. Unstable exchange rate - So, Due to the fluctuating currency market and the inflation rate in different countries, the exchange rate may not be constant.
  2. Low maximum load - With WeSwap money transfer services, Most noteworthy, a maximum of £3000 can be loaded every single time. Consequently, This is a huge challenge to those who want to do the bulk transaction.
  3. Limited online purchase - There limited use of the WeSwap card when it comes to online purchase since many stores don’t accept payment from it.
  4. Lacks contactless feature - The prepaid card lacks contactless feature hence making transactions somehow slow.

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