CurrencyFair international money transfers

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Peer-to-peer transfers in 19 currencies, with better exchange rates and lower fees than the banks.

  • Good for competitive exchange rates and fees.
  • Not so great if you want to pay with cash or card. The percentage-based fee can add up on larger transfers.

€3

Fees (Pay by Bank Transfer)

£7

Minimum Transfer Amount

Details

Product NameCurrencyFair
Minimum Transfer Amount£7
Pay ByBank transfer
Receiving OptionsBank account
Customer ServicePhone, Live chat, Email
Available CurrenciesAED, AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HUF, IDR, ILS, INR, NOK, NZD, PHP, PLN, SEK, SGD, THB, USD, ZAR
Bank Account Required?Yes
Personal Account Manager?No

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.

Check if there are any CurrencyFair promo codes available

Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer) Learn More
CurrencyFair
24 hours
€3
SPECIAL OFFER ✓ Zero fees on your first 10 transfers

View details
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
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Available currencies

CurrencyFair allows you to send money overseas in 19 currencies, including:

  • EUR Euro
  • CHF Swiss franc
  • AUD Australian dollar
  • CAD Canadian dollar
  • INR Indian rupee
  • SGD Singapore dollar
  • USD US dollar
  • ZAR South African rand

You can check out the full list of supported currencies above.

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 GBP you deposit to arrive in your CurrencyFair account is typically 1-2 business days.
  • Transaction time. This varies between currencies. The most common processing time is 1-2 business days, but some currencies (such as GBP and INR) can be sent within 0-1 business days.

Transfers typically takeClock icon for transfer speed

24 hours

What payment methods does CurrencyFair accept?

You can deposit funds into your CurrencyFair account via two methods:

  • Online bank transfer
  • BPAY

Is CurrencyFair safe to use?

  • Regulation: Regulated by the Central Bank of Ireland.
  • Established: 2009.
  • Security: Client funds held in segregated accounts with tier 1 international banks.
  • Reviews: TrustScore of 4.8/5* from 3,700+ reviews on Trustpilot.
*According to CurrencyFair and Trustpilot on 4 February 2020.

CurrencyFair is based in Ireland and regulated by the Central Bank of Ireland.

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:

  1. Log in to your Internet banking account and deposit funds to your CurrencyFair account.
  2. Once the deposit has cleared, log in to your CurrencyFair account and click the “Exchange” menu.
  3. Enter the amount you wish to exchange and select the currency you want to acquire.
  4. 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.
  5. Click “Exchange Now” to complete the currency exchange.
  6. You can then click on “Transfer Now”.
  7. Enter your recipient’s bank account details and specify the amount you want to transfer.
  8. Review the transfer fee and estimated arrival time.
  9. 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

Pros:

  • 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.

Cons:

  • 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?

Table: sorted by promoted deals first
Our table below lets you compare the services you can use to send money abroad. Choose if you want to send under or over £10,000, and you’ll be shown a list of services that can help you.
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer) Learn More
Wise (TransferWise) for large transfers
Within an hour
From £3.75

View details
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
TorFX
24 hours
£0

View details
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
Central FX
24 hours
£0

View details
CentralFX's dedicated team will guide you or your business from first call to final payment.
Currencies Direct
Within an hour
£0

View details
CurrenciesDirect makes transferring money abroad simple with bank-beating exchange rates.
CurrencyTransfer
24 hours
£0

View details
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
XE Money Transfers
24 hours
£2
SPECIAL OFFER ✓ £25 Amazon voucher when you refer a friend

View details
XE has fast transfers with low fees and a range of foreign currency tools.
Wise (TransferWise)
Within an hour
From £3.75

View details
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
Azimo
Within minutes
From £0.99
SPECIAL OFFER ✓ First two transfers free for new customers.

View details
Azimo sends money directly to a bank account or over 280,000 cash pick-up points. It also has fast transfers to 50+ countries.
CurrencyFair
24 hours
€3
SPECIAL OFFER ✓ Zero fees on your first 10 transfers

View details
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Remitly
Within minutes
From £1.49
SPECIAL OFFER ✓ Free transfers and better exchange rates for new customers

View details
Remitly has quick, affordable transfers around the world, with both express and economy options.
WorldRemit
Within an hour
From £1.99
SPECIAL OFFER ✓ Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.

View details
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
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2 Comments

    Default Gravatar
    David
    April 8, 2017

    Does currency fair help with transfers from Qatar to Ireland

      Avatarfinder Customer Care
      Anndy
      July 30, 2017

      Hi David,

      Thanks for your question.

      CurrencyFair is not yet available in Qatar.

      If you are sending money from Qatar to Ireland, the money transfer companies here may help.

      Cheers,
      Anndy

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