Competitive exchange rates Intuitive and easy-to-use product Largest peer-to-peer currency exchange marketplace
ZERO transfer fees for Monito users (you only pay the exchange rate margin).
CurrencyFair has a unique approach to international money transfers. Instead of exchanging your currency with a bank or a money transfer company, you actually exchange with other CurrencyFair customers. This fully automatic and transparent peer-to-peer approach means that you can choose what exchange rate you’d like, and as long as another CurrencyFair user is looking to exchange in the other direction and accepts your exchange rate, then that’s the rate you’ll both get. In fact, 10.5% of users of the CurrencyFair MarketPlace achieve a better exchange rate than the mid-market rate!
If you’d rather not wait for another customer to accept your rate, you can also choose to immediately convert your money at the best available rate in the marketplace. In any case, CurrencyFair allows you to get excellent exchange rates which are on average just 0.35% below the mid-market rate.
CurrencyFair, which is the world’s largest peer-to-peer currency exchange, allows you to exchange between 18 different currencies. The company has local accounts for nearly all the supported currencies, which means that transferring your money to them should be free. After you’ve exchanged your money on the CurrencyFair MarketPlace, you’ll just have to pay a small flat fee of around €3 in most cases to transfer out your money to the bank account of your choice. The money then generally takes just 1-2 working days to be received, but potentially up to 4 or 5 days for certain currencies.
You can exchange and transfer your money on the CurrencyFair website or on the CurrencyFair app, available on both iOS and Android, at any time (except on week-ends and bank holidays) and from anywhere.
2 days ago
by Alice Fais
Fast reliable, best rate.
2 days ago
by diana sulkova
BE CAREFUL! Be careful with the so called refer a friend promotion. They are cheating and the customer service is not helpful at all! My boyfriend used my...Read more
BE CAREFUL! Be careful with the so called refer a friend promotion. They are cheating and the customer service is not helpful at all! My boyfriend used my referral link to set up his account but they keep saying that he used someone else's link what is impossible since we did it together! They just want your money and don't try to help you. There are obviously problems with their system. So I don't recommend their services.
5 days ago
Transfer PL-UK, UK-PL made within 36h GREAT EASY and GOOD VALUE!!!
5 days ago
by Thomas Schalch
Did one transaction and that worked very smoothly.
6 days ago
by ANNE REEVES
6 days ago
by Philip Francomb
Very easy to use for a better rate.
6 days ago
by Nai Arthur
easy to use with great rates and fixed transfer fee regardless of transfer amount. Great!!!
6 days ago
by Brian M
Neat functional website and good customer support
6 days ago
by tom pollock
Have always had a great experience and is now even quicker and easier to convert my funds
6 days ago
by Jonathan Harrison
Have never found a better rate, quick and very easy to use
6 days ago
by Angela Wullems
Fantastic - Quick & easy to setup, great rates, & excellent customer service. Highly recommend.
1 week ago
A friend recommended the website, needed to transfer money abroad. No problem with the transfer itself, however the referral bonus was paid to a...Read more
A friend recommended the website, needed to transfer money abroad. No problem with the transfer itself, however the referral bonus was paid to a "random person" instead of my friend. Customer service was not helpful at all, didn't try to solve the issue, even though they made a mistake.
1 week ago
Good customer support quick transaction. Good rates
1 week ago
Unbelievable experience! Not worth it, just to save $50-$60 bucks, took 2 weeks longer than competitors to get the job done. Needed to jump through hoops,...Read more
Unbelievable experience! Not worth it, just to save $50-$60 bucks, took 2 weeks longer than competitors to get the job done. Needed to jump through hoops, just to prove that both owners are a part of a legitimate business sending to another legitimate business! No one even attempted to contact us to discuss the procedures and extensive regulations. Kept asking for documents which were already submitted days before, while the whole time having our funds suspended in limbo with our supplier and clients waiting to send/receive stock. Avoid if at all possible!
by Eduardo Soares
Very good experience, in 1 week I had all done from Euro to CZK with no problems. Recomend!
by Jo Davies
Fast, easy and safe transfer of funds at excellent rates.
by B J Douglas
Save money, get your best rate of exchange compared to banks and other money brokers. SInce starting to work with CurrencyFair I have not looked elsewhere.
by Shabbar Raza
Very efficient and transparent process with an intuitive and simple to use app and online interface. Highly recommended to avoid exorbitant bank fees and...Read more
Very efficient and transparent process with an intuitive and simple to use app and online interface. Highly recommended to avoid exorbitant bank fees and currency conversion losses when transferring funds.
by Paul Corrigan
Great site, when I experienced a problem customer service answered my questions quickly.
by Adrian Cronin
I used it to transfer money from Australia to Ireland.and convert from AUD to EUR. Flawless. And I saved €600 by not going with a mainstream bank.
by popee45 Beau
5 stars from me. Absolutely crap on thieving banks. Scary the first time. Just been successfully completed for me. (USD 8000 to China from ...Read more
5 stars from me. Absolutely crap on thieving banks. Scary the first time. Just been successfully completed for me. (USD 8000 to China from AU). Allow a few days to set it up and sort your ID etc. After that ... simple as. I rely on reviews and feel obligated to contribute as well. No hesitation here. * * * * *
I'm very happy with the service,quick,transparent and the webside is very easy to use,I would recommend this company to anyone.
by Red Baron
CurrencyFair works very well from a transactional point of view. Sadly though after years of being a truly open peer to peer exchange where one would...Read more
CurrencyFair works very well from a transactional point of view. Sadly though after years of being a truly open peer to peer exchange where one would often achieve a rate which was at or sometimes even better than the spot rate quoted on Bloomberg they have now introduced a spread to line their own pockets further. So now never better than spot plus 0.5% as far as I can see. So sad - money makes greedy!
by karel deneve
Always the best value, particularly the market place feature which means I don't have to follow rate changes myself. Customized rate notifications also...Read more
Always the best value, particularly the market place feature which means I don't have to follow rate changes myself. Customized rate notifications also serve to keep me informed.
by Angela Millar
I would and have recommended this company. We are frequent users. The transfer of funds has got quicker and quicker. The team is really friendly and...Read more
I would and have recommended this company. We are frequent users. The transfer of funds has got quicker and quicker. The team is really friendly and helpful. Customer service is excellent. They keep you informed all way through transactions. Can't really improve on perfection - never had a problem.
by Mrs J Selkirk
I have been using Currency Fair for over 3 years and have never had any problems with transfers and always get a very good exchange rate.
Always helpful, Always accurate.
This is such an easy way to transfer money and at excellent rates cannot understand why anyone would pursue the traditional and certainly less competitive...Read more
This is such an easy way to transfer money and at excellent rates cannot understand why anyone would pursue the traditional and certainly less competitive bank route. Great for my business transactions as well as my personal needs.
by Colin Barrett
my son in law introduced me to Currency Fair, its the best move i have made this year
great company worth 5 stars
CurrencyFair has excellent customer reviews on Trustpilot, with 4 out of 5 reviewers giving CurrencyFair a 5 star rating. Here’s a summary of what over 1200 customers have to say:
They are even in the Top 5 companies in Trustpilot’s Money Transfer category. Here’s a summary of what CurrencyFair customers have to say.
CurrencyFair is regulated and authorised by the Central Bank of Ireland under the European Communities (Payment Services) Regulations 2009. This requires CurrencyFair to protect client funds, maintain systems and procedures at the highest standards (in particular to detect and deter financial crime), maintain a minimum level of capital and liquidity, and have individually approved and vetted key personnel.
As per regulations, clients’ funds are held in segregated accounts which are kept completely separate from CurrencyFair’s own business accounts. This means that your money is safe should the company have any financial difficulties.
CurrencyFair employs over 60 people across its Irish, Australian and British offices. Employees give the company a 5 star rating on the employer review site Glassdoor, and describe CurrencyFair as a "really nice place to work". The company is headquartered in Dublin (Ireland), and has two other offices in Newcastle (Australia) and Surrey (United Kingdom).
CurrencyFair is the largest peer-to-peer currency exchange in the world, and has been used by hundreds of thousands of clients to exchange over €3.4 billion along the years. They have thousands of 5 star reviews on Trustpilot and very few complaints. The company is financially strong with over €5.2 million of net assets, and has raised around €20 million from famous investors.
Is CurrencyFair safe? Our review shows that the CurrencyFair MarketPlace is a trustworthy platform for foreign currency solutions.
First, you must register for a CurrencyFair account on their website, which only takes a few minutes.
Then, the process depends on your needs and the type of transaction you are making. You can deposit money into your CurrencyFair account and then later make a QuickTrade or MarketPlace transaction, or set up an Auto-Transaction if you’d rather do everything at once and not have money standing by in your CurrencyFair account.
The three steps of the process are described in detail below (click on the different steps to expand).
Before being able to exchange money and send it to a bank account, you must first deposit money into your CurrencyFair account. To do so, simply tell CurrencyFair how much money you want to deposit and in what currency. CurrencyFair will give you their bank account details and your unique reference number. You must then make a local bank transfer from your bank account to CurrencyFair’s bank account, making sure to indicate your reference number on the transfer.
Once your money has arrived at CurrencyFair and shows up on your CurrencyFair account, you can exchange it into a different currency. Choose how much you want to exchange and between which currencies. You can then either choose your own custom exchange rate (MarketPlace exchange) or immediately get the best available exchange rate (QuickTrade exchange). The type of exchange you choose will depend on what your needs are.
2a. MarketPlace: custom exchange rate
The MarketPlace exchange allows you to set a custom exchange rate, and as soon as another CurrencyFair user agrees to exchange currencies with you at your custom exchange rate, the exchange will happen automatically. This means that you can potentially beat the current best available exchange rate. In fact, according to recent estimates by CurrencyFair, 10.5% of MarketPlace users achieve a better exchange rate than the mid-market rate! The downside to choosing a custom exchange rate is that you’ll have to wait some time for the exchange to take place. The better your custom exchange rate is, the longer the wait. You’ll also have to come back to the CurrencyFair website or app later, to transfer out your money once it has been exchanged.
2a. QuickTrade: best available exchange rate
The QuickTrade exchange is the simplest and quickest way to exchange currencies on CurrencyFair. You simply convert your money instantly at the best available exchange rate, and your money can then immediately be transferred out.
Once your money has been exchanged, you can transfer it out to the bank account of your choice, either yours or the bank account of a third party. The money will be received in 1-2 days in most cases, but up to 4 or 5 days if you are sending to certain currencies such as United Arab Emirates Dirham (AED), Hong Kong Dollar (HKD) or Singapore Dollar (SGD).
|Time to open an account||A few hours|
|Advanced currency contracts||No|
|Type of service provider||Online money transfer operators|