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.
For a first time user, all queries were answered promptly, provided the questions were formulated correctly. Very pleased with the feedback from the...Read more
For a first time user, all queries were answered promptly, provided the questions were formulated correctly. Very pleased with the feedback from the support team. I will be using CurrencyFair in the future.
by Rafal Maj
The best exchange rates and the lowest fees
by Sandy Wells
Cost Efficient way of transferring money abroad, but as I only make transfers once or twice a year, I find some of the terminology a little confusing and...Read more
Cost Efficient way of transferring money abroad, but as I only make transfers once or twice a year, I find some of the terminology a little confusing and end up going into options until I hit the one I want . I find the daily rate emails helpful.
Great experience. No issues transferring money from my Australian bank account to the UK. I was actually surprised how quickly the funds arrived in my U.K...Read more
Great experience. No issues transferring money from my Australian bank account to the UK. I was actually surprised how quickly the funds arrived in my U.K account. I would definitely recommend currency fair.
by Michael Dalakis
I have been using GurrencyFair for a few years now and find it is a good and cost effective way to send money overseas. -Better exchange rates than...Read more
I have been using GurrencyFair for a few years now and find it is a good and cost effective way to send money overseas. -Better exchange rates than banks, lower transfer fees, easy to use.
by Stanislav Sklenka
Great exchange rates, very small fees, uncomparable to banks. And pretty fast transfers to banks in other countries. The only thumb down is for 10 days...Read more
Great exchange rates, very small fees, uncomparable to banks. And pretty fast transfers to banks in other countries. The only thumb down is for 10 days registration approving for bussiness account instead of one day presented in the website and no information about why it takes longer (they were too busy with many account requests). But I am not surprised so many people wish to have accounts htere, because the service is otherwise absolutely great and saves huge money. If you dont use them instead of your bank, you throw your money away :)
Currency fair is very easy to use, reliable and brings benefits. The exchange rate is definitely better than my bank uses. I will used it more often as I...Read more
Currency fair is very easy to use, reliable and brings benefits. The exchange rate is definitely better than my bank uses. I will used it more often as I regularly need to transfer money and exchange.
by Mr Burrows
Have been using Currency Fair since 2014. Excellent service with the most competitive rates and speed of transfer. Highly recommended.
by John M Hayes
This has to be the best fund transfer service ever! Ease of use, extremely low fees and exchange rates at the actual (not bank) levels. I use Currency...Read more
This has to be the best fund transfer service ever! Ease of use, extremely low fees and exchange rates at the actual (not bank) levels. I use Currency Fair between my bank accounts in Australia and the UK in either direction and have NEVER had a problem or delay. Highly recommended.
by Charlie Hayden
An excellent, safe system with a clear display of fees involved.
by Renaud Vation
Really good application. Secure, quick, really low fees(almost nothing) and really helpful. This application is definitely the best to transfer money.
Great service at a great price. Simple interface and I've never had any issues over many transactions
Simple to use and I feel like I know what I am getting and paying for - right away. It took a few minutes to set up within my own banking app, but now...Read more
Simple to use and I feel like I know what I am getting and paying for - right away. It took a few minutes to set up within my own banking app, but now making transactions overseas takes less than a few minutes. It’s great.
by Mike Hermann
Far better foreign exchange facility than most mainstream banks (in my opinion) in terms of reliability, functionality and value for money. Rates for...Read more
Far better foreign exchange facility than most mainstream banks (in my opinion) in terms of reliability, functionality and value for money. Rates for 'individuals' are close to the actual exchange rate and the transaction fee is surprisingly good value (Euros 3 for each of my transactions). The 'next day' service and the monthly standing order facility makes life much easier.
by Paul Sheridan
Simple to use, great rates, and an excellent website - I have no hesitation in recommending CurrencyFair to anyone needing to exchange currencies. Having...Read more
Simple to use, great rates, and an excellent website - I have no hesitation in recommending CurrencyFair to anyone needing to exchange currencies. Having been an active customer for the past two years, CurrencyFair have never let me down. Keep up the good work, guys. :)
by dave drew
Using CurrencyFair is quick and easy, their exchange rates and fees are competitive.
by Deighton Raeburn-Ward
Always efficient and excellent value.
First time user sending funds for a transaction with Chinese Company, went very smoothly.
by Ronan Jennings
As a business that only generates GBP income, but incurs significant EUR overheads through our Dublin back office, we have frequent requirements for...Read more
As a business that only generates GBP income, but incurs significant EUR overheads through our Dublin back office, we have frequent requirements for currency exchanges. Due to the size of our business, we don't have the luxury of being able to employ a standalone Treasury function, so we have found the efficiency and cost of using CurrencyFair (as compared to a bank or a specialised currency exchange service) to be very beneficial to the business.
by Attila Rostás
The best rates to exchange money and transfer it abroad. Regular bank's international services are not even on the same page with Currencyfair. I'm using...Read more
The best rates to exchange money and transfer it abroad. Regular bank's international services are not even on the same page with Currencyfair. I'm using it since over 1.5 years.
Excellent rates compared to other competitors, great service.
by Graham Nugent
I think on earlier pages you should indicate value of " stars " ( ie. first star = low last = high )
excelent for business with USA
Easy to use without the rubbish exchange rates or draconian transfer fees of the usual FX banks. Also, for those not good with tech like me, they have a...Read more
Easy to use without the rubbish exchange rates or draconian transfer fees of the usual FX banks. Also, for those not good with tech like me, they have a brilliant support team that can correct just about anything when I've messed up!
I have not tried any other currency exchange, but I found CurrencyFair very good and easy to set up and use. So therefore I will not use any other. Why...Read more
I have not tried any other currency exchange, but I found CurrencyFair very good and easy to set up and use. So therefore I will not use any other. Why change something that works.
Quick, easy, good exchange rate. Fees were clear, unlike with banks! Would definitely use again.
by Marine Scicluna
It's like... to easy!
First time using this system of money transfer and once initial setup was complete, I found the transaction easy and it felt secure
by Clare Gill
Great service, great exchange rates and conversion rates
by G Cable
Great rates and almost perfect in terms of ease of use. Customer support is excellent.
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|
|Regulated by||Central Bank of Ireland|