Midpoint Reviews 264

Better than any bank or other financial intermediary for foreign exchange. Will definitely recommend and use again

Easy, clear, valuable. Delay maybe improved but good enough

Title says of all.

I understand there is no much FX trading over the week-end, but I placed my order on a Saturday morning, I received an email saying I should know the price of the transaction shortly (max 24h), and I finally got an email on Monday morning. During that time I was really wondering what was going on. I wanted to cancel my order and could not...
But I have to say once the transaction was done, the rest worked pretty well.

I've used Mid Point on a number of occasions and have saved a lot of money. The whole process is simple and fast. I will continue to use the service and highly recommend them.

Excellent service, I am very pleased.

I did one transfer and it all went through as agreed. Got a good rate, easy to use, would definately use again.

The rate confirmation wasn't very transparent given the timing from when my funds were sent and the time when the rate was confirmed.
It would be better to fund the account with flexibility to lock in the rate when market movements become favourable as opposed to hoping the rate is good two days after sending funds.

Efficient service and great customer support, highly recommended!

This is the 3rd time I have used Midpoint and so far everything has been handled both very professionally and speedily. I am not used to dealing with the professional banking sector, and the Customer Services Manager Raquel Rial has been very supportive and helpful to help me organise my business.

First time user. Slightly sceptical so a modest try. Worked smoothly. Will use again. Note to myself: need to check receipt with the receiving bank -- they won't tell you unless asked.

I really like the Midpoint concept. I think the offering would benefit from executing transactions outside the 8-6 GMT working hours. I had a frustrating experience where I requested a trade while a rate was good, only to learn that it wouldn't be matched until 12 hours later. As the FX market doesn't close midweek, I found the time lag frustrating and it ended up costing me as the rate moved against me in this time. If changing small amounts of money this is not be a big deal, but with larger amounts it is. Once I realised there would be a lag I tried communicating with the online chat, which again is not manned out of the 8-6 GMT working day. Midpoint did offer me a reduced comission rate as goodwill which was welcome when I raised.
Overall, a great offering, I will use again, but it definitely has scope for improvement in offering. A pop up screen before placing an order outside working orders advising of the time lag before matching would be a simple solution which they should implement ASAP.

Well, Midpoint is doing what it says in the tin. Rate is know approximately before, confirmed within minutes of placing order, confirmation of receiving funds quick. It is very good.

My transaction did have a hiccup that was my fault. The Midpoint Team helped me rectify it and complete my payment. Thanks Raquel!

I'm really happy with the Midpoint platform for transferring funds to our international subsidaries. We save '000s of dollars on each FX transaction. The platform is easy to use with great support, and with notifications to keep you apprised of the status of funds.

I am buying a place in Spain which requires a lot of Euros! Midpoint provided the best rate I could find and saved me loads of money. Would recommend without hesitation.

Rate and fees stated up-front, which beat all forex services available to me. My only reservation is the amount of time funds are held before executing the final transfer (having met the imposed 48 hour limit for me to send the funds).

Following referral from my brother-in-law I used midpoint to pay a letting agent in advance for a ski chalet rental. Needed to convert payment from GBP bank account to Euros bank account in France. It was quick to set up the Midpoint account. The requirement to provide ID credentials as part of account set-up added to the sense of security, which was reassuring. In making the first transaction I wasn't quite clear how to split the IBAN code into the required component parts so started an online chat and received immediate help from Midpoint's COO, who walked me virtually through the process. Once the initial order for the Euros had been placed the rest of the process was work-flowed over email and the agency received the funds after 3 working days, which was more than adequate for my needs. My only suggestion would be to make the receiving bank details page a bit more intuitive / prescriptive so that it's clear where the receiving account details, sort code and what format to use for 'Bank Name'. This should reduce the demands on the COO to step newbies through the process every time, impressive though it was to receive his attention over chat. I will definitely be using the service again for currency exchange transactions and would recommend it to anyone as a much better vfm proposition that using your UK bank with the transaction fees and poor exchange rates that latter often entails.

not happy with compliance team