www.exchange-rates.com

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CurrencyFair Money Transfers Summary

Feature Explained
Number of currencies 40+ View all
Time to complete money transfer 1-3 days
Minimum and maximum money transfer

£100
£1000000

Fund account with Bank account transfer
Personal Money Transfers Yes View comparison
Business Money Transfers Yes View comparison
Small Money Transfers (below £1,000) Yes View comparison
Travel Money No View providers
Transfer money online Yes Sign up for a FREE account
Transfer money using app Yes Read about apps
Transfer money on telephone Yes
24/7 Support No
Currency provider information Leader in UK and Europe
Regulated by: FCA
Risk management tools Yes Read more about risk control

Potential alternatives to CurrencyFair

There are some reasons for considering other money transfer companys:

Transferwise can be better for small money transfers (lower than £2,000)

moneycorp offers very competitive exchange rates for business money transfers because they transfer huge amounts of currency (meaning they can achieve better rates for your business) they have very high buying power with their currency exchange providers. moneycorp also trade in 120 currencies compared with 40 offered by Currencies Direct so if Currencies Direct cannot help we recommend trying moneycorp.

OFX can be better if you are transferring to or from Australia or New Zealand or Asian countries is headquartered in Australia and listed on the Australia Stock Exhcange and if you are transferring to or from Australia or New Zealand or Asian countries you may benefit from local knowledge offered by them.

FairFX provide travel money (a service not available from CurrencyFair).

Azimo provide cash delivery to 300,000 locations worldwide (a service not available from CurrencyFair).

CurrencyFair Money Transfers Explained:

A CurrencyFair account can be set up within minutes and Which.co.uk Report stated that CurrencyFair is the "Best online provider for sending £10,000 GBP to Europe". With CurrencyFair you will get better exchange rates than using your local bank or Bureau de Change to make the currency transfer(s). Furthermore, international payments are exchanged fast and securely. In fact CurrencyFair is regulated by the Central Bank of Ireland and the Australian Securities and Investments Commission.

Currency Exchange Rate Alerts

Set up daily or weekly alerts or request to be emailed when your target/desired exchange rate is reached. This is a FREE service with CurrencyFair.

CurrencyFair Exchange

CurrencyFair brings together buyers and sellers of currencies together resulting in the best exchange rates for your currency transfer. Simply select your own rate and wait for it to be matched with a customer exchanging the opposite currency. The CurrencyFair Exchange is particularly useful if you have some time before making a currency transaction. You will be able to see the rate history at CurrencyFair to help you see when your desired exchange rate was last reached so you know how likely your target rate is to be matched by a customer wanting to exchange the opposite currency. There is also an Exchange Queue showing the amounts at each rate waiting to be exchanged.

It maybe that the full amount you wish to exchange is not matched by another customer and in these scenarios the full amount may be mathed in batches with people wanting to exchange smaller amounts. You can of course amend or cancel the matching process if, for example, the unmatched portion of your exchange has not been successful at any time before it is matched from the Transaction Overview section of the website.

CurrencyFair Business Money Transfers

Business money transfers from CurrencyFair help your business manage international cash flow. CurrencyFair is regulated by the Central Bank of Ireland with client funds securely held in segregated accounts in tier 1 international banks.

Reasons you may use CurrencyFair for business money transfers would be paying suppliers, employee salaries abroad and transferring payments from international customers/clients. Keep your international payments managed as your business grows internationally with CurrencyFair