CurrencyFair Review

Compare
CurrencyFair is an online peer-to-peer currency exchange and money remittance service

CurrencyFair Review

CurrencyFair is an online peer-to-peer money transfer company based in Ireland, with additional offices in Australia and the UK. The company was founded in 2009 and began offering international money transfer services to customers in 2010. CurrencyFair offers customers the ability to send money and receive money via transfers or international payments in 17 different currencies, with the ability to send money in an additional three currencies.

 

Fee: ? EUR3 per transfer
Bank Partner: ? Bank of America
Speed: ? 1-3 days
Country Notes CurrencyFair currently offers 20 currencies
Local settlement: ? UK
Transfer methods ? Phone and online transfer services
Regulated By: ? CBI, ASIC
General Notes Regulated with Central Bank of Ireland (CBI) and the Australia Securities and Exchange Commission

The pros and cons of using CurrencyFair

pros

Easy to set up an account

Android and iOS apps

Regular payments ideal for pensions or mortgages

Personal and business accounts

Auto-transaction capability

Match to trade at your preferred rate

CurrencyFair takes on the trade if there’s no customer

Priority transfers service (attracts higher fees) to complete exchanges faster

cons

No forward contracts to the US

Exchanges subject to live market rate

Can only add money to your account via bank transfer

CurrencyFair

CurrencyFair Products for Individuals

CurrencyFair screenshot money transferCurrencyFair offers currency transfer services to retirees, students, overseas workers, and anyone else who needs to send money and wants to secure a good currency exchange rate at lower prices than what is typically charged at a bank. Customers can send and receive money in 17 currencies and send money in an additional three currencies for almost any type of foreign currency transaction, from funding foreign brokerage accounts to purchasing real estate overseas, accepting foreign currency payments, sending or receiving remittances, or paying for an education.

 

How to set up a CurrencyFair Account

How To Exchange with CurrencyFair

CurrencyFair Products for Businesses

CurrencyFair also offers money transfer services for businesses and corporate customers. Services include the ability to pay foreign invoices, remit profits to company headquarters, hold funds in a number of foreign currencies, and to make corporate foreign exchange transactions and foreign currency investments in a number of global locations. CurrencyFair offers businesses these services at much lower fees than what is traditionally charged at banks, and all transactions are safe and regulated by financial authorities in the countries in which they are transacted.

About CurrencyFair

Founded in 2009, CurrencyFair Limited is an online peer-to-peer money transfer company headquartered in Ireland with employees in Australia and the United Kingdom. The company offers competitive exchange rates for sending and receiving money transfers and international payment services in 17 currencies, with the ability to send money in an additional three currencies. The company is regulated by the Central Bank of Ireland as an Authorized Payment Institution under the European Communities (Payment Services) Regulations 2009. The CurrencyFair Australia Pty Ltd office is regulated by the Australian Securities and Investments Commission (ASIC). As of October 2014, the company had processed over €1.2 billion in transfers for its customers.

CurrencyFair was one of four companies named “Best of Show” at the inaugural FinovateAsia conference in Singapore in November of 2012, and won the IIA Dot IE Net Visionary Awards for Most Insightful and Intriguing Internet Innovation.

Amount Received £ 10,000.00
£ 0.00 Avg. Saving vs. Banks ?
EURn/a
USDn/a
CADn/a
AUDn/a

Compare Other Currency Rates

Need payment solutions for your business?
Click here to use our business tool

Other International Money Transfer Quotes

Global Reach (formerly FC Exchange)

Great rates | One-off payments | Regular transfers | E-Money Institution | No fees for FXcompared customers

More Info Less Info

Great rates | One-off payments | Regular transfers | E-Money Institution | No fees for FXcompared customers

Amount Received
USD $12,937.34
GBP £218.84
saved vs. banks

Moneycorp

?
Est. 1979

One-off payments | Regular payments | Great rates | Safeguarded customer funds

More Info Less Info

One-off payments | Regular payments | Great rates | Safeguarded customer funds

Amount Received
USD $12,924.28
GBP £208.84
saved vs. banks
Bank Beating Rates

TorFX

?
Est. 2004

Bank-beating FX rates | Safe and secure | Free transfers for FXcompared customers

More Info Less Info

Bank-beating FX rates | Safe and secure | Free transfers for FXcompared customers

Amount Received
USD $12,950.39
GBP £228.84
saved vs. banks
Bank Beating Rates

Currencies Direct

Call us0203 018 1318

Bank-beating FX rates | Safe and secure | Free transfers for FXcompared customers

More Info Less Info

Bank-beating FX rates | Safe and secure | Free transfers for FXcompared customers

Amount Received
USD $12,911.23
GBP £198.84
saved vs. banks

OFX (prev. UKForex)

OFX (previously UKForex in the UK), provides secure and speedy international money transfers to over 300,000 people in 55 currencies at better-than-bank rates

More Info Less Info

OFX (previously UKForex in the UK), provides secure and speedy international money transfers to over 300,000 people in 55 currencies at better-than-bank rates

Amount Received
USD $12,937.34
GBP £218.84
saved vs. banks

WorldFirst

?
Est. 2004

Transparency and security | Great customer feedback rating from Feefo

More Info Less Info

Transparency and security | Great customer feedback rating from Feefo

Amount Received
USD $12,947.13
GBP £226.34
saved vs. banks

RationalFX

?
Est. 2005
Established in 2005, RationalFX helps individuals and businesses achieve significant savings on international payments
More Info Less Info
Established in 2005, RationalFX helps individuals and businesses achieve significant savings on international payments
Amount Received
USD $12,943.86
GBP £223.84
saved vs. banks

Western Union Business Solutions

The Personal Payments team at Western Union Business Solutions look after the overseas currency requirements for private individuals.
More Info Less Info
The Personal Payments team at Western Union Business Solutions look after the overseas currency requirements for private individuals.
Amount Received
USD $12,859.01
GBP £158.84
saved vs. banks

Currency Solutions

Currency exchange specialists ranking No.1 on Trustpilot for the past two years
More Info Less Info
Currency exchange specialists ranking No.1 on Trustpilot for the past two years
Amount Received
USD $12,949.09
GBP £227.84
saved vs. banks

Smart Currency Exchange

Smart is focused on helping clients to effectively and efficiently send and receive payments internationally
More Info Less Info
Smart is focused on helping clients to effectively and efficiently send and receive payments internationally
Amount Received
USD $12,943.86
GBP £223.84
saved vs. banks

Rates From The Average UK High Street Bank

Banks are the most expensive way to do an international money transfer, the quotes from the providers above show you the typical savings that can be made. All providers on FXcompared.com are regulated in the UK  by the FCA, in the USA by FinCEN, In Canada SSC and Australia, ASIC.

We check all rates regularly and this quote is an actual quote of the average from UK banks for this month. It includes all major and small banks. Lloyds, Barclays, HSBC, Santander, NatWest, RBS, Coutts, Handelsbanken, Metro bank and more - tracked every month. We obtain our rates via our IMTI platform.
 

More Info Less Info

Banks are the most expensive way to do an international money transfer, the quotes from the providers above show you the typical savings that can be made. All providers on FXcompared.com are regulated in the UK  by the FCA, in the USA by FinCEN, In Canada SSC and Australia, ASIC.

We check all rates regularly and this quote is an actual quote of the average from UK banks for this month. It includes all major and small banks. Lloyds, Barclays, HSBC, Santander, NatWest, RBS, Coutts, Handelsbanken, Metro bank and more - tracked every month. We obtain our rates via our IMTI platform.
 

Amount Received
USD $12,625.07
No saving vs. banks

PayPal

?
Est. 1998

Shop with PayPal and you’ll still earn your points, airmiles and cashback. Fees are shown as part of the overall exchange rate.

More Info Less Info

Shop with PayPal and you’ll still earn your points, airmiles and cashback. Fees are shown as part of the overall exchange rate.

Amount Received
USD $12,532.64
No saving vs. banks

Other Services

Popular Money Transfer Routes

FXcompared.com is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended.  FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.