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.
6 hours ago
by Mustafa Muflehi
Easy to use platform and transparent fees. I'm glad my friend referred me to CF.
1 day ago
by John Hughes
3 days ago
by Mary Mcloughlin
l have had trouble with transferring my money, but when l got in touch, they were quick, and very polite in sorting out my problem. very good
4 days ago
by Aoife Dolphin
Quick, efficient & really easy to use. Money transferred within a few days. Use regularly for AUD transfers to Ireland & UK
6 days ago
by Mary Tuohy
Highly recommend this site. It's a secure way to send money abroad & at a very reasonable price! Will definitely be using this site in future!
by U sergente
Currency fair security features are entirely inappropriate when problems arise with sim cards / mobile phone numbers. I have been after them for 2 days to...Read more
Currency fair security features are entirely inappropriate when problems arise with sim cards / mobile phone numbers. I have been after them for 2 days to get primary and secondary numbers changed and this still has not happened. In the meantime I ma losing time and money by being locked out of my account
by Sandrine Dos Santos
Amazing Customer service experience! One of the best I had in my entire life in banking/e-payment transfers. CurrencyFair knows a ton on how to make a...Read more
Amazing Customer service experience! One of the best I had in my entire life in banking/e-payment transfers. CurrencyFair knows a ton on how to make a customer happy and provide assistance to make sure they feel confident and comfortable with the portal. Thanks again guys! I will use you again :-)
by Steven Collins
Excellent currency exchange service, does exactly what it says on the tin. The app works well and is quick to use (supporting Apple...Read more
Excellent currency exchange service, does exactly what it says on the tin. The app works well and is quick to use (supporting Apple TouchID). Disclaimer: my employer has invested in the company, but I have been a user before this, and the review reflects my personal view and not that of my employer.
by Charles Lee
Is a great service. just not so good for a company where you need to allow other people in the account.
by Michael Drury
I've been using CF for the past 7 years for property purchase and payment of regular taxes, service bills, etc, for our two french holiday homes. It's...Read more
I've been using CF for the past 7 years for property purchase and payment of regular taxes, service bills, etc, for our two french holiday homes. It's very user-friendly with easy access on-line wherever I am via iPhone banking. I also rate very highly the ease of access to a real person at the end of the phone 24/7, should I have any queries. CF provides an all-round 5-star service, which has saved me a great deal of money (over alternative exchange/foreign payment providers) for a long period. Keep it up! Mick
by George Pace
Simple to use, great rates, low charges and fast transfers. What more do you want? Superb service.
by Romany Grais
Responsive customer service. Excellent exchange rates. Fast and easy transfer.
by Shirley Stephens
Great rates, low cost, easy to use and speedy transaction times makes Currency Fair a good option when transferring money overseas
by Zafar Bhunnoo
Simple, quick, value for money and hassel free. Very happy to use over and over
by Diane Welstead
easy, simple and very quick. Pick your own time and your own rate. So much better off, every time I exchange, in every way.
by Tony Roach
I have financial interests in several countries and CurrencyFair is my constant companion for moving money to my bank accounts. It is saving me a small...Read more
I have financial interests in several countries and CurrencyFair is my constant companion for moving money to my bank accounts. It is saving me a small fortune in exchange and wire transfer fees. Easy to use - brilliant service - highly recommended.
by Adrian Suckling
I regularly send money home with CurrencyFair and have never had a single issue, especially with large amounts. Extremely reliable.
by Kevin A
Prior to learning about CurrencyFair, I was spending between £20 to £25 for every transfer I made using my regular bank. I have been using CurrencyFair...Read more
Prior to learning about CurrencyFair, I was spending between £20 to £25 for every transfer I made using my regular bank. I have been using CurrencyFair since they first started and have now saved a small fortune on banking fees. Their service has improved year on year as has the speed of the transfer. I would confidently recommend CurrencyFair to anyone that needs to transfer funds abroad.
by Richard Bennett
Love CurrencyFair, the mobile app is especially good and the transfers are quick and easy to do.
Super fast and efficient to transfer currency. Way better than the banks and faster.
Easy to use, reliable and good exchange rates.
by Christoph Hager
Good exchange rate, but for larger amounts, this gets very tedious. Despite having uploaded all the compliance-related information and having exchanged...Read more
Good exchange rate, but for larger amounts, this gets very tedious. Despite having uploaded all the compliance-related information and having exchanged smaller amounts earlier this year, I made a transfer with a larger amount and all the sudden, they froze my assets. The process is still ongoing and didn't get resolved yet despite uploading all relevant information. Due to the timing, I ended up with a penalty of over EUR2,500 so far. BE CAREFUL!
Very simple and straight forward process, that allowed me to save quite a lot compared to a tradition international bank transfer. very good service.
This is a great service: trustworthy and provides a great service for a cost impossible to beat transferring funds bank to bank. I recommend it.
by Melvin Hindmarch
Currencyfair is a really good company, I am not the worlds best expert with modern technology but their patience and expertise has helped me greatly, when...Read more
Currencyfair is a really good company, I am not the worlds best expert with modern technology but their patience and expertise has helped me greatly, when I had some items stolen in the USA Currencyfairs responce was instantaneous ...rates are good, you dont have to negocitate like the FX companies, monies there transferred when you need it.
Simple to use. Cheap transfer fee. Great app for Android!
Been using their service for years, has saved me £€1000s and the platform is super. Keep up the great work
Best rates, best service, secure, easy to use, lowest charges. Would recommend to anyone.
Easy to use & gives a good rate
by Andrew Harden-Sweetnam
I've been using for over a year to move money into Austria as i partly live there. decent rates and low charges. only thing i'd change is the actual app...Read more
I've been using for over a year to move money into Austria as i partly live there. decent rates and low charges. only thing i'd change is the actual app experience, i dont find it intuitive, but don't let that stop you. the banks are ripping you off, these guys aren't.
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|