CurrencyFair Review

CurrencyFair Review Summary

CurrencyFair is a global online platform that provides cross-border payment and foreign exchange services, catering to the needs of individuals and small businesses. It is an efficient solution for those seeking to send money abroad, offering a variety of payment methods and a free version for personal use. The service simplifies international transfers by allowing users to specify the amount and calculate the fees upfront. With a diverse user base spanning the globe, CurrencyFair has facilitated international money movement since its inception in Ireland. Over the past decade, CurrencyFair has successfully attracted over 150,000 customers and offers transactions in 20 different currencies across established international payment corridors. The company's mission is to revolutionize financial services by providing innovative and inclusive financial solutions, with a commitment to enabling faster and more cost-effective foreign exchange for its customers.

CurrencyFair review
CurrencyFair Features

CurrencyFair Year Established

2009

CurrencyFair International Clients

CurrencyFair accepts international clients.

CurrencyFair Age requirement

18 years

CurrencyFair Currencies Offered

17 online

CurrencyFair Minimum Transfer

£5.00 (or equivalent)

CurrencyFair Transfer Fees

0.45%

CurrencyFair Office Locations

Headquarters in US, with subsidiary offices and certified agents literally across the globe.

CurrencyFair Employees

99

CurrencyFair Turnover

64,000,000 USD

CurrencyFair Regulation

The Central Bank of Ireland

CurrencyFair Fees

CurrencyFair transfer fees are 0.45%.

Fees with CurrencyFair may vary per transfer, depending on method of sending, currencies and amount. Based on World Bank statistics, the fixed fee can be as high as 19 Pounds for 120 Pound transfer to Ethiopia (source).

Additionally to the fixed fees taken by CurrencyFair, the World Bank Statistics reveal that an additional markup of between 1 and 4 per cent is incurred.

CurrencyFair Client Rating

CurrencyFair has a rating of 4.

Number of CurrencyFair customers

150,000

CurrencyFair Website

https://moneyaccounts.com/vs/torfx-vs-rabobank/

CurrencyFair Supported Languages

English, French, German

Month Savings
January $100
February $80

CurrencyFair Review

CurrencyFair review
Pros and Cons of Transferring Money with CurrencyFair

Most of the time money transfers with CurrencyFair will be smooth. Each money transfer service have their own benefits and isses, so always weigh the pros and cons of sending money with CurrencyFair money prior to submitting an application to CurrencyFair.

Can you easily afford the CurrencyFair fees, are the exchange rate costs reasonable with CurrencyFair?

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CurrencyFair Advantages

  • CurrencyFair has been in business over 4 years
  • CurrencyFair has a good rating.
  • CurrencyFair is availble in many international countries.
  • CurrencyFair offers a wide range of money transfer currency options.
  • CurrencyFair offers phone support.
  • CurrencyFair offers email support.
  • CurrencyFair offers an Apple iOS mobile application.
  • CurrencyFair offers an Android Google Play Store mobile app.

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CurrencyFair Disadvantages

  • CurrencyFair does not offer PayPal as a payment method
  • CurrencyFair does not offer Neteller as a payment method
  • CurrencyFair does not offer Skrill as a payment method
  • CurrencyFair does not offer a mobile wallet.
  • CurrencyFair does not offer Home delivery for money transfers.
  • CurrencyFair does not offer Cash pickups for money transfers.
  • CurrencyFair does not offer Money orders.
  • CurrencyFair does not offer Livechat support.

What Is CurrencyFair?

CurrencyFair is a financial service company, that offers its clients money transfer services.

CurrencyFair was founded in 2009 by Paul Byrne and has offices in Dublin, Ireland.

CurrencyFair provides money transfer services to its 150,000 customers who are from all over the world including US, UK, Eurozone, Canada, Australia, New Zealand, South Africa, and others.

The Dublin, Ireland CurrencyFair business was founded in 2009 to deliver money orders locally and internationally.

Do CurrencyFair Offer Money Transfer?

Money transfer businesses, or other financial corporations use EFT (electronic funds transfer) to send money across distances, large or small. That is to say that it is not actual money being sent, it is rather data that represents the amount being sent that the recipient can withdraw whenever they wish.

Is CurrencyFair Trusted And Established?

CurrencyFair is among the most recognized and reputable money transfer platforms. It has an exceptional track record and offers reasonable rates.

CurrencyFair was established in 2009 in Dublin, Ireland, and has been in operation for around 15 years CurrencyFair have a head office in Dublin, Ireland.

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How much does it cost to send a CurrencyFair Transfer?

CurrencyFair money transfer exchange rates are quite minimal compared to banks and other money transfer providers. A minimal percentage is charged on top of the exchange rate as standard practice. CurrencyFair only charges 0.45%, when compared to other money transfer service providers.

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How much can I send with CurrencyFair?

The maximum transfer amount with CurrencyFair is up to £10,000,000.00 (or equivalent) (or its currency equivalent) online.

While CurrencyFair charges a small percent of transfer fees, the brand offers reasonable exchange rates.

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CurrencyFair Money Transfer Terms and Conditions

When transferring money with CurrencyFair, it is crucial to keep tabs on the following:

  1. CurrencyFair Speediness. Often the need to money transfer may be urgent and time critical.
  2. CurrencyFair Reliability and reputation. The safety of money and personal information can be a concern for those wanting to use international money transfer services to send money.
  3. CurrencyFair Transaction charges. Transaction charges are important as the majority of customers wish to send money overseas without having to worry about paying excessive charges.
  4. CurrencyFair Ease of use, and convenience. Your money transfer platform should be flexible and offer a good range of options and features, making it more convenient for customers to send money overseas.
  5. CurrencyFair Customer service. Because one can often run into problems when transferring money. A money transfer platform with excellent customer service could solve a lot of problems. CurrencyFair customer service should respond to your queries quickly and work with you to resolve any issues that you have.

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How CurrencyFair Compares To Other Money Transfer Companies

NameCurrencyFairXE Money TransferWise Multi-Currency Account
Usedby150,00028000000011000000
Transfer Time2-5 business days1-4 business days1-2 business days
Min Transfer£5.00 (or equivalent)US$1.001 USD
Max Transfer£10,000,000.00 (or equivalent)US$500,000.00 (or equivalent)1000000 USD/transaction/day (personal), 3000000 USD/transaction/day (business)
Payment MethodsBank transfer, debit cardBank transfer, credit card, debit cardBank transfer, debit card, credit card, SOFORT transfer
iOS Appyesyesyes
Android Appyesyesyes

CurrencyFair review
CurrencyFair Risk Warning

Any taxes or charges are payable in the destination country. costs may exist that are not paid through CurrencyFair or imposed by CurrencyFair. Your CurrencyFair money transfer transaction may be cancelled if it is demmed to be connected with prohibited activities including all applicable laws regarding anti money laundering or counter terrorism financing laws. or the transaction is actioned through unauthorised use of your CurrencyFair account.

CurrencyFair review
CurrencyFair Fees & Exchange Rates

Several money transfer platforms like CurrencyFair charge money for every money transfer a customer makes through their platforms. Other than that, every time an individual exchanges money from one particular currency to another, the money transfer operator in this case CurrencyFair may charge for a currency exchange.

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CurrencyFair Transfer Fees

A transfer fee is the sum of money that a money transfer operator like CurrencyFair charges a customer for transferring money to a recipient. The amount charged depends on the operator charging it.

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CurrencyFair Exchange Rate Margins

Exchange rate margins are how CurrencyFair, banks and other financial corporations make profit off their services instead of charging customers with commission fees.

When a bank or a money transfer service like CurrencyFair quotes an exchange rate to a customer, they usually take the interbank rate and add an amount known as a margin rate. Check with CurrencyFair to see what their exchange rate margin is.

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CurrencyFair Methods to Transfer Funds

A CurrencyFair fund transfer is when someone sends money from their account to another person's account. Money can be transferred using different methods, e.g. online, via the phone, or a mobile app.

The methods to transfer funds are:

  • Manual EFT
  • Automatic EFT
  • Bill payment
  • Correction

CurrencyFair enables users to transfer money using bank transfer, via none.

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CurrencyFair Currencies Supported

Money transfer operators that offer more currency options are beneficial because they make for reduced conversion fees. This way customers do not have to pay exorbitant conversion fees when transferring money.

CurrencyFair offers every available world currency to its customers. We list the major CurrencyFair supported currencies below.

CurrencyFair Money Transfer Currencies
NameCurrencies
AED, EUR, PLN, AUD, GBP, SEK, CAD, HKD, SGD, CHF, HUF, USD, CZK, NOK, ZAR, DKK, NZD
AED, BDT, BHD, BTN, HKD, IDR, ILS, INR, JOD, JPY, KWD, LKR, MYR, NPR, OMR, PHP, PKR, QAR, RUB, SGD, THB, TRY, TWD, VND, BAM, BGN, CHF, CZK, DKK, EUR, GBP, HRK, HUF, NOK, PLN, RON, RSD, SEK, BBD, CAD, CRC, DOP, GTQ, HNL, JMD, MXN, TTD, USD, XCD, AUD, FJD, NZD, TOP, WST, ETB, GHS, GMD, GNF, KES, MAD, MUR, MZN, RWF, SLL, TND, TZS, UGX, ZAR, ARS, BOB, CLP, COP, GYD, PEN, PYG, UYU
AED, ARS, AUD, BDT, BGN, BWP, CAD, CHF, CLP, CNY, CRC, CZK, DKK, EGP, EUR, GBP, GEL, GHS, HKD, HRK, HUF, IDR, ILS, INR, JPY, KES, KRW, LKR, MAD, MXN, MYR, NGN, NOK, NPR, NZD, PEN, PHP, PKR, PLN, RON, RUB, SEK, SGD, THB, TRY, TZS, UAH, UGX, USD, UYU, VND, XOF, ZAR, ZMW
ALL, ARS, EUR, BSD, BDT, XOF, BOB, BRL, BGN, BIF, USD, XAF, CLP, CNY, COP, KMF, CRC, HRK, CZK, DOP, EGP, ETB, FJD, GMD, GHS, GTQ, GNF, GYD, HNL, HUF, INR, IDR, JMD, JPY, JOD, KES, MGA, MWK, MYR, MXN, MAD, NPR, NGN, PKR, PYG, PEN, PHP, PLN, RON, RUB, RWF, SLL, ZAR, KRW, LKR, TSZ, THB, TND, TRY, UGX, UYU, VND, ZMW
AED, AUD, BGN, BRL, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HRK, HUF, IDR, INR, JPY, MYR, NOK, NZD, PLN, RON, TRY, SEK, SGD, USD, ARS, BDT, BWP, CLP, CNY, COP, CRC, EGP, GEL, GHS, ILS, KES, KRW, LKR, MAD, MXN, NGN, NPR, PHP, PKR, RUB, THB, UAH, UGX, UYU, VND, XOF, ZAR, ZMW
AED, ARS, AUD, BDT, BGN, BRL, BWP, CAD, CHF, CLP, CNY, COP, CRC, CZK, DKK, EGP, EUR, FJD, GBP, GEL, GHS, HKD, HRK, HUF, IDR, ILS, INR, JPY, KES, KRW, LKR, MAD, MXN, MYR, NGN, NOK, NPR, NZD, PHP, PKR, PLN, RON, RUB, SEK, SGD, THB, TRY, TZS, UAH, UGX, UYU, VND, XOF, ZAR, ZMW
AUS, SGD, HKD, INR, MYR, EUR, GBP, USD, CAD, JPY, NZD
USD, AUD, CHF, EUR, HKD, JPY, BBD, BMD, BSD, DKK, GYD, INR, JMD, KYD, MXN, NOK, NZD, SAR, SEK, SGD, TTD, ZAR, GBP
AUD, BGN, CAD, HRK, CZK, DKK, EUR, HKD, HUF, INR, ILS, JPY, JOD, MYR, MAD, NZD, NOK, OMR, PLN, GBP, QAR, RON, SAR, RSD, SGD, ZAR, KRW, SEK, CHF, THB, TRY, AED, USD
AED, AUD, BND, CAD, CHF, CZK, DKK, EUR, FJD, HKD, HUF, IDR, ILS, INR, IRR, JPY, KRW, KWD, LKR, MAD, MXN, MYR, NGN, NZD, OMR, PEN, PGK, PHP, PKR, PLN, SAR, SCR, SDG, SEK, SGD, THB, TOP, TRY, TWD, USD, VND, VUV, WST, XOF, XPF, ZAR
EUR, GBP, USD, CAD

CurrencyFair review
CurrencyFair Transfer Options

CurrencyFair offers the following transfer options:

CurrencyFair Money Transfer Options Compared
NameTransfer Options
Bank deposit, mobile wallet deposit
Bank deposit
Bank deposit, mobile wallet deposit
Bank deposit, cash pick-up, home delivery, mobile wallet deposit.
Bank deposit, mobile wallet deposit
Bank deposit, mobile wallet deposit
Bank deposit, cash pick-up (Philippines)
bank deposit, cheque, wire transfer, debit card, credit card
Bank deposit, cash pick-up, VISA & MasterCard, ATMs, mobile wallet deposit (depending on country)
Bank deposit
Bank deposit, cash pick-up , door-to-door delivery

Single Payments

’Single payments’ is a term used to recognize a one-time money amount from an allowance. For a single payment, the user may use a single credit card (or debit card) and have a single invoice.

Regular Payments

A regular payment is a highly economical and easy way to transfer money with CurrencyFair. It is best suited for customers who have to transfer regular smaller amounts (usually three, four, or smaller five-digit amounts).

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Who CurrencyFair Services Are Available To

CurrencyFair offers services for sixty different currencies across more than one-seventy countries.

The more global a money transfer operator becomes, the more reliable it is for people across the globe.

CurrencyFair Country Restrictions

CurrencyFair does not operate in the following countries :

  • Afghanistan
  • Aland Islands
  • American Samoa
  • Angola
  • Anguilla
  • Antarctica
  • Antigua and Barbuda
  • Barbados
  • Belize
  • Benin
  • Bhutan
  • Bonaire (including Sint Eustatius and Saba)
  • Bouvet Island
  • British Indian Ocean Territory
  • Burkina Faso
  • Burundi
  • Cape Verde
  • Central African Republic
  • Chad
  • Cocos (Keeling) Islands
  • Comoros
  • Congo
  • Democratic Republic of
  • Congo
  • Republic of
  • Cook Islands
  • Crimea
  • Cuba
  • Curacao
  • Djibouti
  • Equatorial Guinea
  • Eritrea
  • Faroe Islands
  • Fiji
  • French Guyana
  • French Polynesia
  • French Southern Territories
  • Gabon
  • Gambia
  • Greenland
  • Grenada
  • Guadeloupe
  • Guinea
  • Guinea-Bissau
  • Guyana
  • Haiti
  • Heard Island and Mcdonald Islands
  • Holy See (Vatican City State)
  • Iran
  • Iraq
  • Ivory Coast (Cote d'Ivoire)
  • Japan
  • Kiribati
  • Kosovo
  • Kyrgyzstan
  • Lao People’s Democratic Republic
  • Lebanon
  • Liberia
  • Libya
  • Macao
  • Mali
  • Marshall Islands
  • Martinique
  • Mauritania
  • Mayotte
  • Micronesia
  • Federated States of
  • Montserrat
  • Myanmar
  • Namibia
  • Nauru
  • New Caledonia
  • Niger
  • Niue
  • Norfolk Island
  • North Korea
  • Northern Mariana Islands
  • Palau
  • Palestinian Territory
  • Papua New Guinea
  • Reunion
  • Pitcairn
  • Rwanda
  • Saint Barthelemy
  • Saint Helena
  • Saint Kitts and Nevis
  • Saint Lucia
  • Saint Martin
  • Saint Pierre and Miquelon
  • Saint Vincent and the Grenadines
  • Sao Tome e Principe
  • Seychelles
  • Sierra Leone
  • Sint Maarten
  • Solomon Islands
  • Somalia
  • South Georgia and the South Sandwich Islands
  • Sudan (North and South)
  • Suriname
  • Svalbard and Jan Mayen
  • Syria
  • Tajikistan
  • Timor-Leste
  • Togo
  • Tokelau
  • Tonga
  • Turkey
  • Turkmenistan
  • Turks and Caicos Islands
  • Tuvalu
  • Vanuatu
  • Venezuela
  • Wallis and Futuna
  • Western Sahara
  • Western Samoa
  • Yemen
  • Zimbabwe
  • Crimea
  • Cuba
  • Iran
  • Libya
  • North Korea
  • South Sudan
  • Sudan
  • Syria

Certain countries are restricted because CurrencyFair is not allowed to legally operate in those regions or it is not economically viable for CurrencyFair to provide money services in these regions.

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CurrencyFair International Money Transfers

An International Transfer is when someone sends money from their account in one country to a bank account in another country.

Setting up your CurrencyFair money transfer is quick and simple with the modern CurrencyFair online platform.

Transferring money internationally used to be a tedious process 10 years ago but advances in software and the internet have made transferring money allot easier.

These days, you can send a money transfer with ease on the CurrencyFair website.

The CurrencyFair website includes useful and easy-to-access option for those who wish to track their money and monitor when it can be received, providing a safe and accessible option if you'd like to keep an eye on your transfer.

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CurrencyFair Minimum Money Transfer

Several money transfer companies do not have a minimum money transfer amount. Making it easy for their users to send small amounts of money. CurrencyFair has a minimum transfer amount of £5.00 (or equivalent).

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CurrencyFair Maximum Money Transfer

Money transfer companies often do not have maximum transfer limits. For example, CurrencyFair does not have a maximum transfer limit when the user is paying through phone. There is however, a £10,000,000.00 (or equivalent) limit per transaction for online transfers.

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CurrencyFair Money Transfer Fees and Charges

These are the fees charged by CurrencyFair and other money transfer companies (or other financial corporations) for transferring money. Several companies however, do not charge their users for transferring money. The only charges there are to pay are currency conversion charges.

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How Long Does It Take to Get a CurrencyFair Money Transfer

CurrencyFair money transfers do not usually take very long. It normally takes less than 24 hours for a money transfer to complete between two accounts with the same financial corporation. While in the case of money transfers with money transfer services like CurrencyFair, it can take a little as a few minutes. If the money is being sent overseas, it can take up to five days for the recipient to receive the money from CurrencyFair.

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CurrencyFair PLC Status

If a company has the acronym PLC at the end of its name, it means that the business offers its shares to the public and is traded on a public stock exchange. This alone makes the company more reputable. CurrencyFair is not a publically listed company. CurrencyFair is a privately owned company.

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CurrencyFair Money Orders

The charges for issuing money orders with CurrencyFair are 0.45%.

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CurrencyFair Mobile Top Up

CurrencyFair offers mobile top ups.CurrencyFair mobile top ups are where a user can add credit to a recipient’s mobile phone number. The recipients number has to be local. These are normally processed within minutes, if not seconds.

CurrencyFair COVID-19 Help

Some money transfer companies offer COVID-19 financial assistance. This may be in many forms including payment holidays, reduced interest rates and more options to pay. Check with CurrencyFair directly to see what they are able to offer if you are adversely affected by COVID-19.

Who are CurrencyFair Money Transfers Best For

There may be many reasons you are looking to action a money transfer with CurrencyFair. These reasons can include debt consolidation, medical bills, student debt, collection agency debt, wedding costs, holidays, home repairs and repaying friends and family.

CurrencyFair money transfers are best for people looking for looking for a reliable fast money transfer service.

CurrencyFair Guide for Fast Money Transfer Approval

For CurrencyFair to be able to process your money transfer application as quickly as possible make sure you have everything CurrencyFair need. If you and CurrencyFair need to go back and forth it may delay the CurrencyFair application process. Make sure every piece of information you give CurrencyFair is accurate.

Please note that you must have at least a minimum of one active bank account for CurrencyFair to process your money transfer.

CurrencyFair Application Time

Application time refers to the amount of time you have to wait for your CurrencyFair registration to be approved. This should not take long, especially if you have nothing which should come up as red flag on the CurrencyFair system.

CurrencyFair Approval Time

It is the time it takes for CurrencyFair money transfer operator to approve the money transfer being made. Depending on the situation this can take up to five days.

CurrencyFair Funding Time

It is the amount of time it takes for the recipient to receive the money transfer. Once your CurrencyFair money transfer has been approved the money should be in your account within four working days.

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Things to Check Before a CurrencyFair Money Transfer

Why more features are useful for modern life’s and why new challenger banks are starting to beat traditional banks.

Here are a number of important things to consider before considering CurrencyFair money transfer:

  1. Reliability and safety
  2. Making preparations before the transaction
  3. Convenience
  4. Transfer and conversion rates
  5. The quality of the customer service offered

CurrencyFair review
CurrencyFair Customer Support

CurrencyFair support should be there to help customers with their issues which includes answering their queries, guiding them through and difficult processes and issues when transferring money. CurrencyFair customer support should troubleshoot any issues with you until you get to a resolution that you are happy with.

When getting a CurrencyFair money transfer you will want to speak to a CurrencyFair representative in a language that you are comfortable with. All your Money Transfer queries and issues should be resolved quickly.

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Does CurrencyFair Offer Live Chat?

Customers can reach out to CurrencyFair through live chat to resolve CurrencyFair money transfer account issues or difficulties with their CurrencyFair account that they can't solve. Live chat, or live support is a real-time live chat feature used by customer support representitives allowing customers to instant message to and receive guidance from a trained agent regarding a your money transfer related query.

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How does CurrencyFair Compare with Other Money Transfer Companies?

When deciding upon a money transfer company like CurrencyFair you will want to know how CurrencyFair compares with other leading online money transfer companies. See how CurrencyFair compares below.

  1. Visit CurrencyFair alternative XE Money Transfer

    Used By: 280000000
    Currencies Available: 76
    Transfer Fees: none
    Payment Methods: Bank transfer, credit card, debit card
    iOS App : yes, Android App : yes

    LiveChat:
    Min Transfer: US$1.00
    Max Transfer: US$500,000.00 (or equivalent)
    Year Founded: 1993

  2. Visit CurrencyFair alternative Wise Multi-Currency Account

    Used By: 11000000
    Currencies Available: 54
    Transfer Fees: 0.5%-1%
    Payment Methods: Bank transfer, debit card, credit card, SOFORT transfer
    iOS App : yes, Android App : yes

    LiveChat:
    Min Transfer: 1 USD
    Max Transfer: 1000000 USD/transaction/day (personal), 3000000 USD/transaction/day (business)
    Year Founded: 2011

  3. Visit CurrencyFair alternative Remitly

    Used By: 3000000
    Currencies Available: 63
    Transfer Fees: 0-3.99$
    Payment Methods: Bank transfer, credit/debit card
    iOS App : yes, Android App : yes

    LiveChat:
    Min Transfer: US$1.00
    Max Transfer: US$20,000.00
    Year Founded: 2011

  4. Visit CurrencyFair alternative Wise

    Used By: 11000000
    Currencies Available: 54
    Transfer Fees: 0.5%-1%
    Payment Methods: Bank transfer, debit card, credit card, SOFORT transfer
    iOS App : yes, Android App : yes

    LiveChat:
    Min Transfer: US$1.00
    Max Transfer: US$1,000,000 (varies based on currency)
    Year Founded: 2011

  5. Visit CurrencyFair alternative Wise Business

    Used By: 11000000
    Currencies Available: 55
    Transfer Fees: 0.5%-1%
    Payment Methods: Bank transfer, debit card, credit card, SOFORT transfer
    iOS App : yes, Android App : yes

    LiveChat:
    Min Transfer: 1 USD
    Max Transfer: 1000000 USD/transaction/day (personal), 3000000 USD/transaction/day (business)
    Year Founded: 2011

  6. Visit CurrencyFair alternative InstaReM

    Used By: 130000000
    Currencies Available: 11
    Transfer Fees: 0%-1%
    Payment Methods: bank transfer, POLi payment (Australia), debit card (EU residents), ACH Pull (US residents), FPX (Malaysian residents)
    iOS App : yes, Android App : yes

    LiveChat: yes
    Min Transfer: $1 (minimum sending amounts could differ based on certain currency pairs)
    Max Transfer: No limit (different countries have regulatory limits on outward and inward flow of remittances originating from or to the country)
    Year Founded: 2014

  7. Visit CurrencyFair alternative Scotiabank

    Used By: 25,000,000
    Currencies Available: 23
    Transfer Fees: none
    Payment Methods: Bank transfer, debit card, credit card, apple pay, google pay, Scotiabank Saddletone gift cards
    iOS App : yes, Android App : yes

    LiveChat: yes
    Min Transfer: none
    Max Transfer: 10000 USD
    Year Founded: 1832

  8. Visit CurrencyFair alternative Skrill

    Used By: 120,000
    Currencies Available: 33
    Transfer Fees: none
    Payment Methods: Cash, bank transfer, debit card, credit card, e-wallet, cryptocurrency (depending on country)
    iOS App : yes, Android App : yes

    LiveChat: yes
    Min Transfer: US$1.00 (varies based on certain currencies)
    Max Transfer: US$2,500.00 / day (weekly and monthly limites also apply)
    Year Founded: 2001

  9. Visit CurrencyFair alternative MoneyGram US

    Used By: 150000000
    Currencies Available: 46
    Transfer Fees: 0-1.99$
    Payment Methods: pay by card or directly from your bank account
    iOS App : yes, Android App : yes

    LiveChat:
    Min Transfer: none
    Max Transfer: 3000 USD
    Year Founded: 1940

  10. Visit CurrencyFair alternative Xoom

    Used By: 250000000
    Currencies Available: 4
    Transfer Fees: 0$-40$
    Payment Methods: Bank transfer, debit/credit card, PayPal balance
    iOS App : yes, Android App : yes

    LiveChat: yes
    Min Transfer: US$10.00
    Max Transfer: 2999 USD/day, 6000 USD/month, 9999 USD/3 months
    Year Founded: 2001

CurrencyFair review
CurrencyFair Website and Mobile Apps

CurrencyFair has a website available online but it may be useful to manage your CurrencyFair account from your mobile device like your tablet or phone.

CurrencyFair offers an Android mobile application on the Google Play store.

CurrencyFair offers an Apple IOS mobile application for iPhones and iPads allowing CurrencyFair to users to check their CurrencyFair accounts on their iOS mobile devices.

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CurrencyFair Deposit and withdrawal Methods

CurrencyFair offers the following Money Transfer payment methods: Bank transfer, debit card. All of significant bank systems are all acknowledged with CurrencyFair.

CurrencyFair offers ACH Payment which is used for direct deposit and debit transfers within the US. It is similar in nature to BACS (for the UK) and EFT (for Canada). Users can pay through bank transfer.

The recipient will receive the money in their bank account and can withdraw it using the method they prefer. They cannot, however, receive the money in the form of cash.

Take note that CurrencyFair may charge additional commissions and fees when using certain payment and withdrawal methods. These fees may not necessarily come from CurrencyFair.

CurrencyFair review
Is My Money Safe With CurrencyFair?

CurrencyFair is a reliable, secure, and trusted option for sending money overseas. CurrencyFair are registered and regulated with the The Central Bank of Ireland.These regulatory licenses have strict rules that are enforced. These regulations safeguard the funds entrusted to them by CurrencyFair customers.

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CurrencyFair Financial Regulation and Safety of CurrencyFair Funds

Every business that wants to send money across borders (in excess of €3 million per month) must be licenced under the Payment Services Regulations 2017 and the Electronic Money Regulations 2011, both of which were created by the UK government but executed by the FCA for UK residents.

Consumer credit, in simple terms, is credit offered to individuals so they can purchase goods or cover personal expenses. It does not cover long term investments such as purchasing property. It allows for a properly managed economy to function and further encourages economic growth.

Firms like CurrencyFair that offer money transfer to retail customers are legally considered to be offering consumer credit.

A financial regulator ensures that consumers are protected, there is fair competition in the money transfer industry and the integrity of the Financial services industry as a whole is maintained.

Getting a money transfer with a regulated company is essential as it offers an increased level of protection than a money transfer from an unregulated one. This is because regulators are able to enforce strict rules and stop unscrupulous money transfer operators.

Laws differ on who can and cannot offer consumer credit in each country. Credit firms have strict rules that they must follow in order that they are legally allowed to transfer money to consumers. These laws are in place to protect consumers becoming trapped in a money transfer they can never pay off.

Be sure that CurrencyFair is fully licenced as a money transfer company.

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CurrencyFair Payment Services Regulations and CurrencyFair

The Payment Services Regulations Directive, is run by the European Commission in order to govern payment services and their providers across the European Union as well as the European Economic Area.

One of its goals has been to make foreign currency transactions transparent, much like currency payments. This is to protect consumers and businesses from being swindled.

What is the Financial Conduct Authority?

The FCA is a control body meant to license money transfer companies. Companies such as banks, Forex brokers, and money transfer operators are monitored the most. This is because they deal in situations that involve many intricacies, such as transferring money and offering loans, etc.

All reputable money transfer businesses that operate within the United Kingdom by law have to be registered and authorised as a payment institution by the Financial Conduct Authority (FCA) to comply with the Payment Services Regulations that were introduced in 2017.

Check CurrencyFair is financially regulated. CurrencyFair is regulated by the Financial Conduct Authority (FCA).

This makes sure that your Money Transfer agreement is above board and safe. In Addition, it Usually Means that CurrencyFair Possess a responsibility of care to their clients.

Is CurrencyFair Registered as a Money Service Business with HM Revenue & Customs

Financial institutions (which do not classify as banks) which convert and transmit money like CurrencyFair are known as Money Service Businesses. While they provide services similar to banks, they are still not considered banks. They offer more varied product options to individuals looking to transmit or convert money.

Financial authorities tend to keep tabs on CurrencyFair and other Money Service Businesses the most because the type of services they offer can leave them vulnerable to be used in financial crimes like money laundering. This is why it is crucial for them to be registered with the HM Revenue and Customs in the United Kingdom.

CurrencyFair Segregation of Client Funds

CurrencyFair as part of their regulation are required to segregate client funds from CurrencyFair company funds and keep all client funds within a bank that is authorised as a credit institution by the regulator. All client funds should be kept in the most reputable third-party financial institutions such as Barclays or the Bank of America.

CurrencyFair regulatory requirements mean that CurrencyFair Money Transfer funds and your funds should be totally separate. CurrencyFair cannot use any money that is still legally yours to conduct CurrencyFair daily business like paying CurrencyFair suppliers and costs. Your funds should be kept by CurrencyFair in a segregated bank account.

CurrencyFair Regulation Checklist

  • Check whether CurrencyFair has authorisation to offer consumer credit
  • Check the type of activities that CurrencyFair are allowed to conduct with their authorisation
  • Check the contact details, trading names and main business of CurrencyFair list on their website and the regulator match.

CurrencyFair Fraud Prevention Features

Fraud prevention is highly crucial when transferring money because once the money is gone, it's gone. Scammers most often gravitate towards money transfers. Lack of fraud prevention procedures can lead to loss of funds, or even identity theft.

CurrencyFair goes to great lengths to protect your CurrencyFair account from fraudulent use. We explain some of CurrencyFair anti-fraud features below:

  1. CurrencyFair has SSL encryption that protects the customer's private information.
  2. CurrencyFair has cutting edge technology that monitors almost everything i.e. from logins to transactions.
  3. The CurrencyFair platform has a bespoke monitoring system that helps to detect and prevents fraud.

Automated Transaction Confirmations

Having instant notifications turned on is not only convenient because the user is instantly alerted whenever there is a payment related activity on their CurrencyFair account, as you are instantly aware of every CurrencyFair transaction these notifications to your phone help you to keep tabs on any suspicious activity.

After conducting a transaction with CurrencyFair, the CurrencyFair accounts primary contact will receive a transaction confirmation confirming the transaction amount, rate exchange applied, and CurrencyFair delivery instructions.

CurrencyFair Monitors Your Account for Suspicious Transactions

CurrencyFair has systems and controls in place to detect fraudulent activity and protect CurrencyFair client accounts from misuse. If CurrencyFair detect a questionable transaction on your CurrencyFair account, CurrencyFair will contact you to verify the transactions legitimacy to ensure your CurrencyFair funds are safe.

How Does CurrencyFair Make Money?

CurrencyFair and other money transfer companies often charge their customers a certain amount of interest fees on every transaction made. The fees depend on the amount of money the customer wishes to transfer. CurrencyFair also earn money via foreign exchange rates.

Money transfer companies like CurrencyFair and banks need to survive, so they make money on interest from accounts and money transfers.

CurrencyFair Frequently Asked Questions

We list some of the most frequently asked CurrencyFair questions below.

Is there a limit to how much I can transfer with CurrencyFair?

You can transfer up to £10,000,000.00 (or equivalent) at a time.

When will I receive my CurrencyFair transfer?

It normally takes 3-5 business days.

Is it possible to cancel my CurrencyFair transaction?

If you need to cancel your transaction due to any reason, kindly contact us on this number +353 1 526 8411.

How old do you have to be to sign up to a CurrencyFair account

To signup to a CurrencyFair account you will need to be at least 18 years old.

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Is CurrencyFair a Scam?

CurrencyFair have been in operation since 2009 and have over 150,000 customers and 99 employees. CurrencyFair is not a scam.

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Sending money online with CurrencyFair

Sending money with CurrencyFair is a single process once you have registered and verified your CurrencyFair account and payment methods.

  1. Go to the CurrencyFair website
  2. If you have a CurrencyFair account you can log in, otherwise you will need to create a new account.
  3. Decide how much you would like to send and where you want to send it to.
  4. Enter all the required information about the beneficiary, this might include their name, address, bank account details, and other personal data.
  5. Tell CurrencyFair how the beneficiary wants to get their money. Eg. through a bank transfer, cash pickup, or via some other means.
  6. Agree to the CurrencyFair exchange rate and any fees.
  7. Pay for your CurrencyFair transfer.
  8. Enter your information and provide and supporting documentation to verify your identity.

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How do I receive money from a CurrencyFair money transfer?

Depending on where you are located, you have a few options for how you can receive any money that has been sent to your CurrencyFair account. Your options for receiving money depend on the information entered by the sender, the country you are in, the currency you are receiving, and some other factors. Some methods of receiving money may not be available to you.

Receive CurrencyFair money directly into a bank account

Bank transfers are useful because not only are they safe, but the whole process is quick, and they offer the kind of flexibility no other method can. CurrencyFair allows for a deposit directly into your bank, credit union or other financial account.

CurrencyFair Cash Pickup

Some money transfer companies have agents around the world, and you will need to take identity documents to receive cash. Money is typically available within ten minutes of being sent. CurrencyFair allows you to pick up money in person at a CurrencyFair agent location.

CurrencyFair Smart Money and mobile wallets

A mobile wallet virtually stores cash card details on a smartphone. These are quite convenient as they allow for users to make purchases at physical stores without needing to carry money.

CurrencyFair Does not support mobile wallets.

CurrencyFair Home delivery

It is a way for an individual to receive money without having to leave home. What this means is that any money you send can be received in person at a designated home address. The money is delivered by a local agent. CurrencyFair do not offer home delivery money transfers.

When was CurrencyFair founded?

CurrencyFair was founded in 2009.

Is CurrencyFair Any Good?

CurrencyFair have a rating of 4 and are financially regulated, CurrencyFair can be considered a good money transfer company.

Is it easy to close my CurrencyFair account?

Its is easy to close you CurrencyFair account. You will have to make sure any outstanding payments and fees due to CurrencyFair are paid in full Before CurrencyFair will fully close your account. Make sure when closing your account CurrencyFair send you an official confirmation that your account is closed and no more monies are due to CurrencyFair.

Does it take long to setup a CurrencyFair account?

No, setting up a CurrencyFair account can take a few minutes. You will need to provide some proof of identity and address. You should definitely be able to access all the features of your CurrencyFair account in 1-3 days.

Where are CurrencyFair based?

CurrencyFair are based in Dublin, Ireland

Countries where CurrencyFair is legal?

CurrencyFair is legally allowed to operate in over 60 countries.

How do I track a CurrencyFair Money Transfer

You can track a CurrencyFair money order by calling CurrencyFair or by tracking the order online. Call CurrencyFair number on +353 1 526 8411. The CurrencyFair automated phone system will take a few details and give you a status update. You can go online to the CurrencyFair website and check the status of a money transfer at any time.

If you have a CurrencyFair online account, log in and view your transaction history; If you do not have an online account, or if you are the receiver of the CurrencyFair transaction, use the CurrencyFair payment reference number on the CurrencyFair website to check the status of the transfer.

Can I cancel my CurrencyFair transfer?

The way that you cancel a CurrencyFair transfer depends on how you created and sent the CurrencyFair money transfer originally.

You may need to contact CurrencyFair by phone on +353 1 526 8411, through their website at www.currencyfair.com or via email [email protected]. Requests are typically processed within 30 days, and you may be charged a cancellation fee by CurrencyFair.

If you made the CurrencyFair transfer online, then you should log in, find the transaction in your transaction history and then cancel it on the 'Transaction Details' page. If you do not have a CurrencyFair account, use the 'Track a Transfer tool to find the transaction and then cancel it on the Transaction Details page.

Double check the terms and conditions for cancelling a CurrencyFair transfer on their website.

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