FairFX - Independent review

All you need to know before sending money with FairFX

A complete range of international payment and money transfer services. Extremely well-regarded by customers and praised for speed, efficiency, and ease-of-use. Slightly less competitive exchange rates for smaller transfer amounts.

7.10/10 Good
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FairFX review by Monito

FairFX is a specialized, UK-based money transfer and currency exchange provider that offers three main services — currency cards, international payments, and travel cash. They have been in business since 2007 and provide currency exchange and money transfer services for people funding transactions in pounds sterling.

Their extensive range of services makes them very popular with customers, with over 90% of their reviews being extremely positive. They provide both an online transfer service and a currency exchange call center for money transfer needs. They also have a price promise for their currency exchange, offering to refund the difference if you find a better deal elsewhere.

FairFX do not charge any extra fees for their FairPay international currency exchange service. Their exchange rates are competitive if you are transferring higher amounts, but for lower amounts another currency provider could get you a slightly better deal.

We recommend FairFX for convenience, speed, and excellent customer service. Although you may pay slightly more in exchange rates, their lack of fees combined with their range of services make them an excellent choice for your currency transfer needs.


PROS
  • A larger range of services than most other currency providers — currency cards, international payments, and travel cash.
  • Easy to use online service for international payments, travel cash, and currency cards.
  • Currency exchange service center available by phone, good for reassurance when transferring larger amounts.
  • FairFX provides a price promise.
  • Currency cards can be preloaded in the local currency and used like credit or debit cards anywhere that takes Mastercard.
  • Travel money can be ordered for secure delivery the next day.
CONS
  • There are a limited number of countries you can transfer money to.
  • The lowest amount you can send is £100.
  • Exchange rates do vary based on the amount sent.
  • Sending lower amounts means exchange rates are less competitive.




Transferring a Large Amount Abroad?

Make the Most of Your Currency Exchange



Reviews powered by

5,334 customer reviews on FairFX on Trustpilot


4 hours ago
by Michael

5 stars

Great way of paying bills and obtaining …

Great way of paying bills and obtaining cash around the world

1 day ago
by Janet Hodge

5 stars

Using all cards

Very useful cards to have and easy to use. Reasonable rates as well.

2 days ago
by Steven

1 stars

Zero customer support stay away

I have a Euro card plus a dollar card I have made a terrible error on extending to a worldwide GBPound card The pin does not work and customer service is...Read more

I have a Euro card plus a dollar card I have made a terrible error on extending to a worldwide GBPound card The pin does not work and customer service is hopeless I am in Rio without the use of my FairFX card and the support I am receiving is zero On my return to the UK I will be cancelling all my cards these people are not worth dealing with


More reviews

2 days ago
by Andrew Wilson

4 stars

Painles use in Singapore, NZ and Oz.

Operationally everything went completely smoothly. Card was issued in quick time, registration and starting use was easy. No issues in using card in the...Read more

Operationally everything went completely smoothly. Card was issued in quick time, registration and starting use was easy. No issues in using card in the countries we went to (Singapore, New Zealand and Australia). And I can finish off the balance in UK with minimal charge. I haven't directly compared exchange and usage rates but took the advice of MoneySavingExpert website which rates it highly.

3 days ago
by William Fraser

5 stars

Highly recommend

Highly recommend. Simple to use app, safe, secure, transparent. Used in many countries.

4 days ago
by Sandra Rodgers

4 stars

Money in the bank.

I first got the card as I was travelling through Europe, visiting various countries and didn't want to take lots of cash with me. I don't normally take...Read more

I first got the card as I was travelling through Europe, visiting various countries and didn't want to take lots of cash with me. I don't normally take 'package' holidays, since then I top up the card when the rates are high and it is like saving for my holidays. OK there is no interest gained but it's still money in the bank and no big outlay before going away. I like that I am kept informed of rate changes. the site is easy to navigate and my card is topped up very quickly.

5 days ago
by d may

1 stars

A rude experience from Fay today

A rude experience from Fay today - we have been a customer for many years and wished to add substantial funds to our account with them - only to be...Read more

A rude experience from Fay today - we have been a customer for many years and wished to add substantial funds to our account with them - only to be advised that because our card had expired a couple of months ago - we would have to pay £9.95 (our card was originally free); her attitude was extremely rude and unhelpful - so we asked to speak to a manager, and was just left holding on for 15 mins. So, we will close our account and go somewhere else. Following a call from Rosa - the matter was swiftly and efficiently resolved, thank you Rosa.

5 days ago
by John

5 stars

Excellent service

Excellent service

5 days ago
by Steve Rogers

5 stars

So easy to use

Very easy to top up and, in my experience, accepted everywhere. I also use it for foreign transfers which is just as easy. It only takes a couple of...Read more

Very easy to top up and, in my experience, accepted everywhere. I also use it for foreign transfers which is just as easy. It only takes a couple of minutes for regular payments.

6 days ago
by Frances Webb

4 stars

So easy to use and to top up currency …

So easy to use and to top up currency to the card whilst away. I have never had a problem. The only downside is the cost of drawing cash from machines.

1 week ago
by David Broomfield

5 stars

First class experience with Fairfx

First class experience with Fairfx. I use both the cards and the bank transfer services, both of which are excellent. Savings are significant and speed...Read more

First class experience with Fairfx. I use both the cards and the bank transfer services, both of which are excellent. Savings are significant and speed of delivery. I particularly like being able to monitor card expenditure in real time. On occasion I have had to speak to members of the FairFx team and on each occasion this has happened they have been professional, helpful and efficient. I have recommended Fairfx to a large group of friends and contacts. Long may this type of service last!

01/14/2018
by Julie

5 stars

Love the exchange rate alerts.

Simple to use and I love the fact I get an e-mail to tell me when exchange rates are better. Much easier to use than the Post Office card I had before.

01/14/2018
by Mrs Evelyn Grant

1 stars

My husband and I travelled to France …

My husband and I travelled to France on the 3rd October 2017 to celebrate our 40th Wedding Anniversary. We attempted to buy two return RER blue tickets...Read more

My husband and I travelled to France on the 3rd October 2017 to celebrate our 40th Wedding Anniversary. We attempted to buy two return RER blue tickets from CDG to Paris. We were to return to CDG airport on the 10/10/17 to travel back to Edinburgh. We experienced difficulties with the ticket machine at CDG. We attempted to buy these two return tickets three times at the machine but neither heard the tickets come out or saw the tickets come out. We were if the impression I was putting in the wrong card number. After three attempts we decided to go to the counter and bought two returns from the Gentleman there. We explained to him that we had difficulties purchasing these tickets and that we didn't think the card would work.He had no trouble and handed me the slip to sign and gave us the two tickets. We also needed to buy two carnets of tickets from him again without any issues. We realised a couple of days later that I was charged for all the three attempts to purchase at the machine. We didn't receive any of these tickets. This cost us over 120 Euros. We emailed Fairfx to look into it and also to dispute these transactions which they have done. We received 38 pages showing transactions which went through my card although I did not see or hear any come through in the machine. This was why we went to the counter to buy them. We are deeply upset by this loss which at the time weren't aware that we had been charged for the missing tickets. We do appreciate the machines have printed out the paperwork but we genuinely did not receive any tickets. The machine may have run out of paper to print these tickets. Although it was a Fairfx MasterCard they did not offer to return any money to us. We were charged four times but thought there was an issue with the card. Three months on they are saying that the SNCF had issued these tickets and that we ought to take it up with the company. There is no email address to claim back nor have we any tickets to claim back. Maybe they have some camera evidence to show we didn't collect these tickets. Can anyone suggest anything?

01/12/2018
by Mrs christine Lloyd

5 stars

Easy and Safe

Easy and Safe ! Use my card every time we go away and it’s easy to add money via the app on my phone

01/12/2018
by j healey

5 stars

My Fairfx card has worked efficiently …Easy and efficient

My Fairfx card has worked efficiently for me on 3 trips to the US. Saves carrying too much cash . Good exchange rates.

01/10/2018
by John Bailey

5 stars

Easy to use service

Easy to use service. Have recommended to friends and family

01/09/2018
by Moira Stewart

1 stars

Beware Of Hidden Charges!

I was in LA recently and used a FairFX USD card. The card is great for using in shops, restaurants etc. but not for getting cash from an ATM. All banks in...Read more

I was in LA recently and used a FairFX USD card. The card is great for using in shops, restaurants etc. but not for getting cash from an ATM. All banks in the US seem to charge $5 for using an ATM and with the FairFX charge of $2 it is quite expensive to withdraw money. In order to avoid these charges I withdrew money over the counter in the US bank as they do not charge anything for this on a preloaded card that is in their currency. I assumed therefore that I would not get charged for this transaction as I had checked the FairFX FAQs and there was no mention of ‘Over The Counter Charges’ but to my horror when I looked at my balance there was a debit of $7.50 for a ‘Comm: ATM / cash withdrawal’. When I queried this with FairFX I was told that that was the charge for withdrawing money over the counter. I said that I had checked the FAQs and it did not mention this only to be told that it is in the Ts & Cs of the Prepaid Card. Would it not make sense to amend the FAQs to reflect the correct charges? How are we to know that the FAQs don’t tell you everything. If I find what looks like a proper answer to my question in the FAQs I wouldn’t continue searching their site in case the FAQs were wrong. Is that not the point of FAQs! I did point this out to FairFX over a month ago and they said they would ‘keep a note of this feedback’. Not a lot of point if they don’t do anything about it as the FAQs have still not been amended. Anyway it is probably best to buy enough cash here before you go. FairFX also do not list the buy back/sell rates on their web site so to cash in the remaining dollars on my card at the best rate, I will continually have to keep phoning them to see what the rate is. I queried this with them as well and they said it was because it keeps changing - so does the buy rate and they manage to cope with that! Come on FairFX, you can do better than that!

01/07/2018
by Paul Skeet

4 stars

Simple, safe, secure

Simple, safe & secure - just how it needs to be!

01/07/2018
by Robert

3 stars

Lost your way.....

When you started you were very competitive however when taking into consideration your charges for using ATMs it’s not that great On the few occasions...Read more

When you started you were very competitive however when taking into consideration your charges for using ATMs it’s not that great On the few occasions that I have needed to speak to your staff, they have been good, once of course you can get through. Personally, I think that whilst you are grown you may have forgot the reasons why you got here in the first place RDS

01/07/2018
by Lisa Falk

2 stars

Not for travellers

FairFX are really hard to get hold of when there is a problem. My card was hardly working in any ATM in the Philippines, and I could never get through on...Read more

FairFX are really hard to get hold of when there is a problem. My card was hardly working in any ATM in the Philippines, and I could never get through on the phone to ask about it. My partners card stopped working completely in Malaysia and received an email days later saying that a new card can only be sent to his home adress in the UK. What use is that when you are traveling?

01/05/2018
by David Bytheway

5 stars

I have recently recommended the FairFX …

I have recently recommended the FairFX Euro card to a friend.

01/04/2018
by Anthony Bryson

5 stars

Thank You - Excellent Customer Service

I've used a FairFX Currency Card for 2 years now with no issues at all, during this time I've found that when I have had a query or recently when my top...Read more

I've used a FairFX Currency Card for 2 years now with no issues at all, during this time I've found that when I have had a query or recently when my top up payment was on hold due to a mistake by myself not informing them of address change, the customer service team was extremely efficient and helpful, especially when calling from aboard - your calls are answered asap by a agent and while dealing with my query advised of best ways to save money at ATM's. I was also impressed by the team on authentication checks minimising card fraud. The agent that dealt with all my queries was Mary Kelly - Thank you! Mr Bryson

01/04/2018
by Jerome Prince

3 stars

I don' like paying commission when …

I don' like paying commission when withdrawing cash from ATM s abroad This is not why I want the card. I would just be better off taking cash.

01/04/2018
by Veronica

5 stars

Best way for travelers

Not a lot to say, very convenient, good rates, flexible and no problems. Happy user

01/03/2018
by Robert Neiles

5 stars

Perfect dealings

Excellent rates given and always prompt with deliveries when required. Also the online transfers are outstanding.

01/02/2018
by Jan Breakspear

5 stars

Love the newsletters they are really …

Love the newsletters they are really informative. Just what we want at the present time

01/02/2018
by malcolm arrowsmith

3 stars

Too expensive compared with my credit …

Too expensive compared with my credit card - on holiday in Australia and New Zealand every purchase had a transaction charge. No advantage over my credit...Read more

Too expensive compared with my credit card - on holiday in Australia and New Zealand every purchase had a transaction charge. No advantage over my credit card.

01/01/2018
by Jennifer Watson

3 stars

I have a £ card and topped it up for a …

I have a £ card and topped it up for a visit to Australia. On my last transaction I got 500 dollars out of a ATM and was charged 3AUD which I thought...Read more

I have a £ card and topped it up for a visit to Australia. On my last transaction I got 500 dollars out of a ATM and was charged 3AUD which I thought was ok, but looking at my statement I was also charged £10 - 87 for this transaction by Fairfx. This I thought was very steep.

01/01/2018
by Ian Johnson

5 stars

One of the best currency cards out there

The most effective way to get the best exchange rate. I've been using the FairFX card for a couple of years now on my travels to France, Spain, Italy. ...Read more

The most effective way to get the best exchange rate. I've been using the FairFX card for a couple of years now on my travels to France, Spain, Italy. It works in all cash point machines I have tried, some automated toll booths, all shops and restaurants. The only problems I've found are with the pay at the pump fuel stations in France but it will work if they have a cashier. To get the best rates I wait for the British pound to hit high level against the Euro then top up the card. It is so easy to do with the FairFX app on my smart phone the transaction is immediate with the best tourist rate. FairFX typically alerts you when a decent rate is available also to make it easier if you don't monitor exchange rates daily. I highly recommend getting one of these especially with the British pound under pressure, you can get the best rate and lock it in onto the FairFX card saving a significant amount of money for your holiday months in advance. The app is so easy to use you can see the latest exchange rate, your account summary to see what is loaded and view a statement of all of your transactions. I highly recommend it!

01/01/2018
by David Burke

5 stars

Euro card excellent service highly recommended

I got a Euro money card in order to spend my sterling savings on the continent. So easy to use and to top up abroad online and to check purchases made and...Read more

I got a Euro money card in order to spend my sterling savings on the continent. So easy to use and to top up abroad online and to check purchases made and current balance. Excellent service. Decent rates too. Highly recommended.


FairFX is viewed very favorably by its users, achieving a rating of 9.1 out of 10 (excellent) over 4,300 reviews on Trustpilot. 91% of reviewers rated FairFX at either four or five stars, one of the highest ratings we’ve seen for any currency exchange provider.

Users particularly enjoyed the convenience of the international currency cards and the speed and convenience of making international money transfers with FairFX. Typical comments included, “Website is refreshingly uncomplicated and works without hitch. Payments are credited to my account immediately and seem to become available to spend immediately” and “Using this card correctly has saved me from poor FX rates, commissions, fees, currency surcharges and "admin" fees - for several years now. Which would be enough, but the customer service is excellent and in every case where there has been a usage or logistical hiccup they have been there to sort it out. Rapidly, efficiently and without fuss. Problem seen. problem reported. Problem fixed.”

Of the very few negative reviews, a couple of examples are, “Exchange rates offered are usually competitive with those available locally, although for some minor currencies the rate seems disappointing.” and “The account balance is not viewable in local currency, so it is not possible to know how much is available to spend or withdraw.”

Overall though, customers are extremely pleased with FairFX’s exchange rates, speed, efficiency, convenience, and customer service.


Can I trust FairFX?

Yes. FairFX has been in business since 2007 and provides comprehensive currency exchange, money transfer, and other services to UK residents. They have a complete privacy policy and comprehensive terms and conditions. Customer reviews across multiple websites indicate that they are a trustworthy provider of international currency transfers.

They are regulated by the Financial Conduct Authority and use a secure online platform for money transfers. FairFX uses sophisticated security techniques and encryption software to protect customer data and transaction details. FairFX processes over £10 million worth of business currency card funding transactions every month with overall turnover of over £700 million a year. Their turnover is currently increasing by 45% year on year, so they are well funded, successful, and profitable.

FairFX also provides a “FairPay Price Guarantee.” They say that if you can find a cheaper online transfer (including the other provider’s fees) they will refund the difference. There are some terms and conditions for this price guarantee.

FairFX won the award for the “Best Corporate Prepaid Travel Card 2015” by Prepaid365 for their integrated Corporate Prepaid MasterCard and integrated expense platform.




How FairFX works

FairFX provides currency exchange under their “FairPay International Money Transfer” service. They allow you to fund your transfer online or over the phone and make international payments without fixed fees or commission fees.

Here’s how their currency exchange service works:

  1. Register and open an account with FairFX.
  2. Login to their online platform or call their service center.
  3. Choose where you want to send money and how much you want to send.
  4. FairFX provides an exchange rate.
  5. You fund the transfer.
  6. You can fund by bank transfer, debit card, or credit card.
  7. FairFX converts your money into the other currency.
  8. The money is deposited into the recipient's bank account.

 

The recipient details that FairFX needs include:

  • Euros — an IBAN and a BIC code.
  • Dollars — an account number and either a SWIFT code or the ABA routing number, including full bank address.


 

FairFX FairPay Fees

FairFX does not charge fixed fees or commission fees for sending money using FairPay.

  • Please note that using a credit card to fund a transfer may attract cash advance and additional fees from the credit card provider.
  • Please note that the receiving bank may charge account fees for receiving an international money transfer.
  • Check with your credit card provider and the receiving bank to understand the fees they may charge.

 

FairFX FairPay Exchange Rates

FairFX’s international payment exchange rates do vary based on a few factors:

  • The currency you are converting to.
  • The amount you are sending (larger amounts have better exchange rates).

Here’s a comparison of converting British pounds sterling to US dollars (exchange rates are correct as at 27th March 2017).

Converting £1,000 to US dollars

  • Mid-market exchange rate (baseline) — 1.254 USD per GBP — $1,254.
  • Exchange rate offered by FairFX — 1.229 USD per GBP — $1,229.
  • Difference between baseline and FairFX rate for £1,000 — $25.
  • Percentage in extra costs for using FairFX compared to baseline — 2%.

Converting £10,000 to US dollars

  • Mid-market exchange rate (baseline) — 1.254 USD per GBP — $12,536.
  • Exchange rate offered by FairFX — 1.248 USD per GBP — $12,483.
  • Difference between baseline and FairFX rate for £10,000 — $53.
  • Percentage in extra costs for using FairFX compared to baseline — 0.45%.


FairFX credit cards for international transactions


 

Currency Cards from FairFX

FairFX provides currency cards in euros, dollars, and pounds sterling. Customers can fund and preload the cards with one of these three currencies and then use the card anywhere that takes Mastercard payments. Mastercard is accepted in around 30 million locations and over 200 countries.

Here’s how the FairFX currency card works:

  1. You fund your card in pounds sterling.
  2. FairFX keeps those funds as pounds sterling or converts them to euros or dollars.
  3. Those funds are loaded on the card.
  4. You can use the card at any merchant who accepts Mastercard.
  5. Funds are deducted in euros, dollars, or are converted to pounds sterling and deducted.
  6. You can check your balance and top up your card at any time via FairFX’s website.

 

FairFX Currency Card Exchange Rates

FairFX’s currency card exchange rates do vary based on the currency you are converting to. Here’s a comparison of converting British pounds sterling to US dollars (exchange rates are correct as at 27th March 2017)..

Converting £1,000 to US dollars

  • Mid-market exchange rate (baseline) — 1.254 USD per GBP — $1,254
  • Exchange rate offered by FairFX — 1.226 USD per GBP — $1,226.
  • Difference between baseline and FairFX rate for £1,000 — $28.
  • Percentage in extra costs for using FairFX compared to baseline — 2.3%.

FairFX Currency Card Fees

There are a number of fees associated with using FairFX’s currency cards. You can find a full breakdown of fees here.


FairFX Travel Money Services

FairFX also provides travel money which they will convert and deliver to you. The exchange rates for their travel money are the same as charged for their currency cards. You can fund your travel money purchase online or over the phone and they will then send the money to you.

If you order before 1PM, you can have your money delivered the next working day. The fees associated with ordering travel money are:

  • Free delivery on orders over £750.
  • £5 fee for orders between £500 & £750.
  • £7.50 fee for orders below £500.

Additional Services from FairFX

In addition to providing international currency transfers, currency cards, and travel money, FairFX also offers the following services:

  • Forward contracts to “fix” today’s exchange rate for up to a year in advance. A deposit payment is needed.
  • Limit orders so you can set a “target” exchange rate — your transfer will only be processed if that exchange rate is met.
  • Stop loss contracts to minimize risk if the market goes against you.
  • Rate alert emails so you’ll be notified when the exchange rate meets a particular target.
  • Daily snapshots of news and economic events impacting exchange rates.

FairFX offices


United Kingdom

FairFX Plc, 3rd Floor
Vintners' Place
68 Upper Thames Street
London EC4V 3BJ


Contacting FairFX

  • General enquiries — email enquiries@fairfx.com
  • Customers abroad — email abroad@fairfx.com
  • International payment enquiries — call +44 (0)20 7778 9350
  • Lost or stolen currency cards — +44(0) 1753 775 961
  • Currency card PIN services — +44 (0)1244 779 900


Ask questions or share your comments on FairFX




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Key facts about FairFX

Service information

Time to open an account A few minutes
Pay-in options Credit card
Debit card
Bank Account
Pay-out options Bank account
Cash home delivery
Prepaid card
Minimum amount Yes
Maximum amount No
Available languages
English
Personnal transfers Yes
Business customers Yes
Advanced currency contracts Yes
Required documents ID

Company information

Type of service provider Foreign exchange companies
Active since 2008
Headquarter London
Offices in United Kingdom
Jurisdiction United Kingdom
Regulated by FCA

Contact information

Contact support -
Service hour Business Hours
Twitter @https://twitter.com/fairfx
Facebook https://www.facebook.com/fairfx
Youtube https://www.youtube.com/user/FairFXCurrencyCard