CurrencyFair international money transfers
Min. Transfer Amount
Max. Transfer Amount
1 - 2 days
|Product Name||CurrencyFair International Money Transfers|
|Min. Transfer Amount||NZD 5|
|Max. Transfer Amount||NZD 10,000,000|
|Transfer Options||One off payments|
Minimum transfer time
|1 - 2 days|
|Customer Service||Phone, Email|
|Available Currencies||AED, AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HUF, ILS, NOK, NZD, PLN, SEK, SGD, USD, ZAR|
|Online Transfer Fee||USD 4|
CurrencyFair exchange rates and fees
CurrencyFair is a peer-to-peer currency exchange service. This means you’re able to set the exchange rate you want and then wait for it to be matched by someone looking to exchange currencies in the opposite direction. However, if there are no other customers available to match your rate, CurrencyFair will match with you instead.
There are two transfer fees you’ll need to be aware of:
- A flat fee. This varies depending on the currency you send but is the equivalent of €3.
- A fee calculated as a percentage of your transaction amount. If you’re matched with another customer directly, CurrencyFair charges a fee of 0.25–0.3% of your transaction amount. If CurrencyFair matches with you, this fee rises to 0.4–0.6% depending on the currency pair.
If you sign up for a CurrencyFair account through Finder though, your first five transfers are free.
Calculate how much sending money overseas would cost with CurrencyFair by using our tool below. You can also check out the real-time exchange rate CurrencyFair offers and if there are any additional fees.
CurrencyFair allows you to send money overseas in 19 currencies, including:
- AUD Australian dollar
- CAD Canadian dollar
- GBP British pound
- EUR Euro
- INR Indian rupee
- SGD Singapore dollar
- USD US dollar
- ZAR South African rand
What types of transfers can you make with CurrencyFair?
CurrencyFair only offers bank account transfers. If you want to send an instant cash transfer, you’ll need to consider other providers.
How long does a transfer with CurrencyFair take?
CurrencyFair transfer times depend on two factors:
- Deposit time. The time it takes for the NZD you deposit to arrive in your CurrencyFair account is typically one to two business days.
- Transaction time. This varies between currencies. The most common processing time is one to two business days, but some currencies (such as GBP and INR) can be sent the same day.
Transfers typically take
1 - 2 days
What payment methods does CurrencyFair accept?
You can deposit funds into your CurrencyFair account using online bank transfer.
Is CurrencyFair safe to use?
- Regulation: Not regulated in New Zealand, but regulated in Australia and Ireland.
- Established: 2009.
- Security: Client funds held in segregated accounts with tier 1 international banks.
- Reviews: TrustScore of 9.4/10* from 3,200+ reviews on Trustpilot.
CurrencyFair is based in Ireland and regulated by the Central Bank of Ireland. CurrencyFair doesn’t have a New Zealand branch, so it is not regulated here. However, its Australian branch, CurrencyFair Australia Pty Ltd, is regulated by the Australian Securities & Investments Commission and listed on AUSTRAC’s Remittance Sector Register.
As part of the regulatory process, the Irish Central Bank requires CurrencyFair to maintain a minimum level of assets at all times. The company also keeps client funds in segregated accounts with major financial institutions, and requires two-factor authentication for specific actions, such as sending a transfer.
Finally, CurrencyFair claims that all customer information is stored in a secure facility which is safeguarded around the clock.
How does CurrencyFair make money?
CurrencyFair makes money by charging two fees:
- A flat fee that applies to all transfers.
- A fee calculated as a small percentage of your transaction amount.
How to register an account
Before you can send a transfer, you’ll need to sign up for a CurrencyFair account by completing the following steps.
How do I make an international money transfer with CurrencyFair?
You can send a transfer by completing the following steps:
- Log in to your Internet banking account and deposit funds to your CurrencyFair account.
- Once the deposit has cleared, log in to your CurrencyFair account and click the “Exchange” menu.
- Enter the amount you wish to exchange and select the currency you want to acquire.
- Choose whether you want to accept the best exchange rate currently available, or set your desired rate and wait for it to be matched by other users. The former is the default and quickest option.
- Click “Exchange Now” to complete the currency exchange.
- You can then click on “Transfer Now”.
- Enter your recipient’s bank account details and specify the amount you want to transfer.
- Review the transfer fee and estimated arrival time.
- If you’re ready to finalise your transfer, click “Submit”.
What is CurrencyFair?
CurrencyFair is a peer-to-peer currency exchange marketplace that offers bank-beating exchange rates and fees. Founded in 2009, CurrencyFair is headquartered in Dublin, Ireland, but also has offices in the UK and Australia. Since its inception, the company has exchanged more than €8 billion worth of currency.
In a nutshell
- Competitive exchange rates and fees. CurrencyFair claims that, on average, the cost of sending a transfer is around 0.45% of the transaction amount. This is much less than you would pay to send funds overseas using your bank.
- Easy online transfer process. While the peer-to-peer exchange process might sound complicated at first, sending money online with CurrencyFair is simple and straightforward.
- Mobile transfer app available. If you need to send money on the go, CurrencyFair offers a mobile transfer app for Android and Apple devices.
- Five fee-free transfers. If you sign up for a CurrencyFair account through Finder, the first five transfers you make with CurrencyFair are free.
- Only supports major currencies. While CurrencyFair does support a decent range of currencies, you’ll need to look elsewhere if you want to send money overseas in a rare currency.
- Not ideal for larger transfers. If you’re sending a large transfer, for example $50,000 or more, the average 0.45% transfer fee can start to get quite expensive.
- No credit card or cash payment. Credit card and cash payments are not accepted.
How does CurrencyFair compare to other providers?
Check out the table below to find out how the fees and transaction times of CurrencyFair compare to those offered by a range of other international money transfer services.