FairFX money transfers review
Fast, affordable transfers for UK residents.
FairFX is a London-based financial company that’s 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 and it has many positive reviews online, many of them reflecting on the far stronger exchange rates offered by FairFX compared to those at the bank, airport currency kiosks or local currency exchange shops.
Min. Transfer Amount
Max. Transfer Amount
|Product Name||FairFX International Money Transfer|
|Min. Transfer Amount||GBP 1|
|Max. Transfer Amount||No limit|
|Transfer Methods||Online, Phone|
|Transfer Options||Regular payments, One off payments|
Minimum transfer time
|Customer Service||Phone, Chat, Email|
|Available Currencies||AED, AUD, BHD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HRK, HUF, ILS, JPY, NOK, NZD, OMR, PLN, QAR, RON, RUB, SAR, SEK, SGD, USD|
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.
- 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.
- 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 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 its 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 30 April 2020.
Sending GBP to USD through FairFX
|GBP||USD||FairFX GBP-USD rate||Mid-market rate||FairFX margin|
Sending GBP to EUR through FairFX
|GBP||EUR||FairFX GBP-EUR rate||Mid-market rate||FairFX margin|
What currencies does FairFX support?
You can only pay for international money transfers in pound sterling and euros through FairFX. However, the currencies that you can send to are a bit more extensive, and include:
- Australian dollar
- British pound sterling
- Bulgarian lev
- Canadian dollar
- Chinese yuan
- Czech koruna
- Danish krone
- 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
Check out our table below in order to compare multiple money transfer providers and find the best deal for you.
How do I send money through FairFX?
To get started with FairFX, follow these quick steps:
- Create an account. Visit the company’s website to create a free account.
- 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 confirmation of your identity, such as your passport or driving licence.
- Choose your destination. Select the currency you want to send to and the currency you’ll pay in.
- Enter recipient information. You’ll need your recipient’s name, address, bank account information and the purpose of the transfer.
- Enter payment information. You can pay with credit or debit card, or by using an online bank transfer.
- 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 US dollars are accepted. There are no point-of-sale transaction fees when using this card in the US, 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 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.
To read more about how to get started with the FairFX Currency Card, read our guide to learn how to sign up, load your card and see which card is ideal for you.
FairFX offers competitive exchange rates on international transfers, especially if you want to send a large amount of money from the UK.