CovercyReviews of covercy.com

Response from CovercyJul 27, 2016

Hi Idan, Credit cards and paypal are good solutions for same currency transactions and for e-commerce type transactions. In larger sums of money these two options are not favorable as they charge between 2%-4% on currency exchange and paypal also has a withdrawal fee on top of that. Our service significantly lowers your overall costs as the exchange rate alone stands between 0.5%-1% depends on the currencies you are interested in. Wire transfers are a much cheaper solution for large cross border cross currency commercial transactions. Thank you for your feedback and hope to see you using our product again.

Response from CovercyJul 26, 2016

Hi Alon, Thank you for using our service. According to our records it seems that you have saved a few hundreds of US Dollars on your 50K transaction compared to the bank. The comparison to your other transaction with your bank is not relevant as it was not done at the same time and thus the fluctuations in the market could effect the result. We would gladly follow up on this with you if you would like. With regard to the face to face identification process, it is a regulatory requirement in the state of Israel for the sum you have submitted and due to the fact your transaction initiated from there and we must follow these rules accordingly. Our compliance and support departments alert the individuals and businesses that indeed pass the threshold. This information is public and can be found on the website of the Ministry of Finance. We would be delighted to assist you further if you would choose to.