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FairFX review

Fast, affordable transfers for UK residents.

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What is FairFX?

FairFX is a London-based financial company that has been in operation since 2007 and focuses primarily on currency exchanging and money transfers originating in pounds sterling. UK customers often use FairFX for access to travel money while exploring Europe and beyond. FairFX has many positive reviews online, many of them reflecting on the far stronger rates offered by FairFX compared to those found at the bank, at airport currency kiosks or at local currency exchange shops.

Must read: FairFX is not available for US senders

You won’t be able to send money with FairFX from the UShat doesn’t rule out any possibility of it expanding here though.

In the meantime, compare providers that are available in the US.

Why should I consider FairFX?

Major pros of using FairFX include:

  • Diverse services. FairFX offers a currency exchange, currency cards, travel cash and even has an option for businesses exchanging larger amounts of money.
  • Ease of use. Online service helps simplify the process of exchanging money and loading a travel card for a trip to Europe.
  • No fees. Currency exchanges through FairFX won’t have any fees, but be sure to check the exchange rate.
  • Manage everything with the mobile app. Create transfers and add money to your travel card without having to talk to anyone.

What to be aware of with FairFX?

Major cons of using FairFX include:

  • Limited currency support. When compared to competitors, FairFX’s list of supported currencies is rather small.
  • High minimum sending amount. The lowest amount you can send is £100, no matter the destination.
  • Inconsistent exchange rates. To benefit from stronger exchange rates you have to send higher amounts through FairFX, smaller transfers will suffer from weaker exchange rates.

FairFX rates

FairFX offers competitive exchange rates, along with a price match guarantee. If you find a better rate at another site within 30 minutes of sending your FairFX transfer, the company will refund the difference. That guarantee does come with terms and conditions, though, so it’s a good idea to check out the fine print on their website before getting started.

To get an idea of how FairFX’s rates improve when sending large amounts of money, review the tables below with FairFX rates and mid-market rates from October 7, 2020.

Sending GBP to USD through FairFX

Send (GBP)Receive (USD)FairFX GBP-USD rateMid-market rateFairFX Margin
£100$126.101.26101.294.61%
£500$630.501.26101.293.21%
£2,000$2,5221.26101.292.55%
£10,000$12,6101.26101.291.97%
£300,000$378,3001.26101.291.63%

Sending GBP to EUR through FairFX

GBPEURFairFX GBP-EUR rateMid-market rateFairFX Margin
£100€107.151.07151.103.85%
£500€535.751.07151.102.44%
£2,000€2,1431.07151.101.77%
£10,000€10,7151.07151.101.19%
£250,000€267,8751.07151.100.85%

What currencies does FairFX support?

Sending international money transfers through FairFX can be only paid for with Euros and British Pound Sterling. However, the currencies that you can send to are a bit more extensive, including:

  • Australian Dollar
  • British Pound Sterling
  • Bulgarian Lev
  • Canadian Dollar
  • Chinese Yuan
  • Czech Koruna
  • Danish Krone
  • Euro
  • Hong Kong Dollar
  • Hungarian Forint
  • Indian Rupee
  • Japanese Yen
  • New Zealand Dollar
  • Norwegian Krone
  • Polish Zloty
  • Romanian New Leu
  • South African Rand
  • Swedish Krona
  • Swiss Franc
  • US Dollar

Compare FairFX to other providers

Our table lets you compare the services you can use to send money abroad. Compare services on transfer speeds and fees, then click Go to site when you're ready to send.
1 - 14 of 14
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
Airwallex
Airwallex
Within minutes
$0
After spending $15k in your first 90 days, receive a one-time $500 bonus that will automatically be credited to your account on any FX conversion.
Airwallex can help you make business payments to 150+ countries in 60+ currencies.
Wise (TransferWise)
Within minutes
From 0.41%
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
Cash App
Within minutes
From $0
With this peer-to-peer payment app make payments to your friends and family with no transfer fees within the US or from the US to the UK or EU.
Instarem
24 hours
From 0%
New Instarem customers will get a special FX rate and zero-fees on their first transfer.
Instarem offers offers rewards on every transaction.
MoneyGram
Within minutes
From $0
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
Western Union
Within minutes
From $0
Enjoy $0 fee on your first online transfer. Western Union makes money from currency exchange. Not valid on credit cards or sends to Cuba.
Western Union sends money online to friends and family in 200+ countries and territories around the world.
OFX International Money Transfers (Business)
24 hours
$0
Business customers: Send safe, no-limit transfers with no fees and competitive exchange rates.
CurrencyTransfer for Business
24 hours
$0
Increase business efficiency with zero transaction fees and same-day transfers.
OFX
24 hours
$0
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Xe Money Transfer for Business
24 hours
$0
Save your time and money with Xe Money Transfer for business.
Currencies Direct (business)
24 hours
$0
Minimizes costs of international transactions and offers custom solutions for business clients. Currencies Direct may call you to confirm your transfer, so be prepared for a phone call shortly after initiating a transfer.
Xe
Within minutes
$3
Xe has fast transfers with low fees and a range of foreign currency tools.
CurrencyTransfer
24 hours
$0
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
Currencies Direct
24 hours
$0
CurrenciesDirect makes transferring money abroad simple with bank-beating exchange rates. Currencies Direct may call you to confirm your transfer, so be prepared for a phone call shortly after initiating a transfer.
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How do I send money through FairFX?

To get started with FairFX, follow these quick steps:

  1. Create an account. Visit the company’s website to create a free account.
  2. Provide key details. You’ll need your full name, address, proof of identification, a payment method and possibly more. Depending on your information, FairFX may request additional documentation to confirm your identity.
  3. Select your destination. Select the currency you want to send to and the currency you’ll pay in.
  4. Enter recipient information. You’ll need your recipient’s name, address, bank account information and the purpose of the transfer.
  5. Enter payment information. You can pay with credit or debit card, or by using an online bank transfer.
  6. Send. Confirm all the details of your transfer, make sure you’re happy with the exchange rate and click send.

FairFX Currency Card explained

The FairFX Currency Card is a way to spend money while traveling abroad without having to worry about daily exchange rates or foreign transaction fees. FairFX Currency Cards are preloaded by you when ordering, or through the FairFX website and mobile app, and help you avoid costly foreign transaction fees and unfavorable exchange rates. The card comes in a few different varieties:

  • Euro Card The FairFX Euro Card can be used anywhere MasterCard is accepted for payment in Euros.
  • Dollar Card Similar to the Euro Card in function, the FairFX Dollar Card can be used where USD is accepted. There are no point-of-sale transaction fees when using this card in the USA, Guam, Puerto Rico and the US Virgin Islands.
  • Everywhere Card This card is designed to be used everywhere else in the world where the previous two cards aren’t ideal.

Using any of the FairFX Currency Cards can make your international travel a bit easier, since you won’t have to worry about exchanging as much cash or whether or not your credit card will be charging you hefty international transaction fees. Be sure to use each card for its intended purpose, as using the Euro Card or Dollar Card outside of its designated network may lead to higher fees.

Bottom line

If you’re a UK resident, FairFX offers competitive exchange rates on international transfers. If you’re a US resident, compare other transfer providers to find one that’s available and fits your needs.