WorldFirst

WorldFirst Information

WorldFirst, established in 2004, is an Australia-based, ASIC-regulated financial services organization that specializes in global business payments and currency conversion. Its key features include multi-currency accounts, foreign exchange solutions, and virtual debit cards, all with no continuing maintenance fees, making it suitable for e-commerce businesses and SMEs.

Pros and Cons

Is WorldFirst Legit?

WorldFirst is a regulated financial institution. The Australian Securities and Investments Commission (ASIC) has approved World First Pty Ltd as a Market Maker. This licence is active and valid.

Furthermore, the UK Financial Conduct Authority (FCA) granted it a payment services licence. However, its current FCA status is “Exceeded”, implying that the license may no longer be active or in compliance.

Products and Services

WorldFirst is clearly positioned as a B2B (business-to-business) solution, with a focus on cross-border payments, foreign exchange services, and account management for worldwide trade.

WorldFirst Fees

WorldFirst's rates are often lower than industry standards, particularly for organizations that handle cross-border payments and FX. The majority of essential services are free, and where costs do apply (for example, currency exchange), they are clearly capped or maintained to a minimal percentage.