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CurrencyFair international money transfers
A simple and competitive way to exchange currencies.
- 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.
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3 - 5 days
Transfer Speed
EUR 8
Min. Transfer Amount
EUR 10,000,000
Max. Transfer Amount
Details
| Min. Transfer Amount | EUR 8 |
|---|---|
| Max. Transfer Amount | EUR 10,000,000 |
| Transfer Methods | Online |
| Transfer Speed Minimum transfer time | 3 - 5 days |
| Online Transfer Fee | EUR 3 |
| Available Currencies | AED, AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HUF, IDR, ILS, INR, NOK, NZD, PHP, PLN, SEK, SGD, THB, USD, ZAR |
| Online Transfer Fee | EUR 3 |
|---|
Pros
- Competitive exchange rates
- Branches located in Ireland, Australia and the UK
- Low fees
Cons
- Only a small number of currencies available
CurrencyFair’s exchange rates
CurrencyFair utilises a system where your currency is traded to others who want it. In exchange for this more transparent system CurrencyFair adds a small fee and margin to each transfer, which is still much smaller than what other banks and exchange brokers might charge.
What currencies are available?
CurrencyFair has a large range of currencies available for trade. These include:
- Australian dollars
- Euro
- UAE dirham
- Canadian dollars
- Swiss franc
- Czech koruna
- Danish krone
- Pound sterling
- Indian rupee
- Israeli shekel
- Japanese yen
- Thai baht
- Singapore dollar
- Hong Kong dollar
- Hungarian forint
- Norwegian krone
- New Zealand dollar
- Polish zloty
- Swedish krona
- United States dollar
- South African rand
Who can use CurrencyFair?
CurrencyFair is available for both businesses and personal clients. CurrencyFair can be helpful to many people, including:
- International students – Living and studying abroad is expensive without having to factor in expensive currency exchange fees and poor rates.
- Property owners – Owning an overseas property means you have to regularly make repayments. CurrencyFair can save you money over the course of your home loan. Considering most home loans are paid out over 20 – 30 years this can be a large saving.
- Retired expat – If you’re retired and living overseas, it’s wise to seek cheap currency conversion so you better preserve your retirement funds.
- Overseas workers – If you work overseas and regularly send money back to your family a service like CurrencyFair can see you save plenty in fees over the duration of your working life abroad.
How do I use CurrencyFair?
To use CurrencyFair you’ll need to open an account. This is free and takes five minutes to do. Once your account is open you can exchange currencies.
You’ll then have to send your funds to the client account. Next, you convert your funds into your chosen currency, and then you give CurrencyFair the account details to receive your funds. You’ll pay a transfer fee of around 3 EUR (R50) per transaction plus between 0.1% and 0.6% of the amount being exchanged, depending on the currency.
CurrencyFair has short processing times. Transfers will typically take around two business days but can take up to five days with some currencies.
What documents or ID do I need to register?
When you’re signing up for CurrencyFair, you’ll need three forms of identification:
- Proof of identity, like a passport, ID book or driver’s license.
- Proof of address, issued within the last three months, like a utility bill, traffic fine, rental agreement or vehicle registration.
- One more document that’s either a proof of identity or address.
How does CurrencyFair compare to other providers?
Our table below shows you the exchange rate and fees for other money transfer specialists.
Real questions from our users
There are no ongoing fees with a CurrencyFair account.