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.



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?

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Reviews powered by

5,251 customer reviews on FairFX on Trustpilot


8 hours ago
by Eddie Hearne

5 stars

Fantastic company, with great customer service....

I have used many times in both Paris and Rome. Also used the euro card here in the UK with no problems to spend my leftover currency. You can draw it out...Read more

I have used many times in both Paris and Rome. Also used the euro card here in the UK with no problems to spend my leftover currency. You can draw it out in cash too. Use this below money saving code when you sign up to save the £10 sign up charge, every bit helps. 02kdvies Great card that has worked both every time I have used it. Cyprus next, which I am sure will present no problems :-)

1 day ago
by Rad Graban

1 stars

Card(s) never received

They allegedly sent me six cards (including replacements) but none of them was received. There is no problem with post in the area where I live – I do...Read more

They allegedly sent me six cards (including replacements) but none of them was received. There is no problem with post in the area where I live – I do get other post. My request to send it by recorded delivery was refused. Disappointed as I used to have one of their cards which only expired in July. Shame I can't have it renewed. Ordered Revolut instead.

1 day ago
by MRS JOANNE COXON

5 stars

So convenient and easy to use

So convenient and easy to use. Peace of mind that money is safe. Thank you will continue use for holidays in europe


More reviews

3 days ago
by Eddie Hearne

5 stars

Fantastic company, with great customer service....

I have used many times in both Paris and Rome. Also used the euro card here in the UK with no problems to spend my leftover currency. You can draw it out...Read more

I have used many times in both Paris and Rome. Also used the euro card here in the UK with no problems to spend my leftover currency. You can draw it out in cash too. Use this below money saving code when you sign up to save the £10 sign up charge, every bit helps. 02kdvies Great card that has worked both every time I have used it. Cyprus next, which I am sure will present no problems :-)

3 days ago
by Iain

5 stars

Safe and efficient.

Simple, safe and efficient. We really like the system and the rates are good, if not always the best.

3 days ago
by A C Murray

5 stars

Easy to transfer money safely and …

Easy to transfer money safely and quickly. Good exchange rate and card was accepted wherever I needed to use the card.

3 days ago
by Phil Bridges

4 stars

Great card but no good fuel purchases

I've been using both a dollar and Euro FX card for several years. Great rates, easy to top up if you use their App and have a data signal good for...Read more

I've been using both a dollar and Euro FX card for several years. Great rates, easy to top up if you use their App and have a data signal good for shopping but a couple of 'gotcha's: I've tried to pay for fuel in both USA and France with my FX cards and failed miserly, In the US they want a US Zip code before the card can be authored, and in France it was declined even though I had 100 Euro the card, had to use a UK debit card instead.

4 days ago
by Eddie Hearne

5 stars

Fantastic company, with great customer service....

I have used many times in both Paris and Rome. Also used the euro card here in the UK with no problems to spend my leftover currency. You can draw it out...Read more

I have used many times in both Paris and Rome. Also used the euro card here in the UK with no problems to spend my leftover currency. You can draw it out in cash too. Use this below money saving code when you sign up to save the £10 sign up charge, every bit helps. 02kdvies Great card that has worked both every time I have used it. Cyprus next, which I am sure will present no problems :-)

4 days ago
by Angela

5 stars

awesome card and great service if …

awesome card and great service if things every go wrong

4 days ago
by linda findlay

5 stars

Fantastic Company

Fantastic company. I have no hesitation on recommending. Service is the best ever.

5 days ago
by Marco

4 stars

I think the rates on card transactions …

I think the rates on card transactions could be better, there are companies out there that do a better deal.

6 days ago
by Eddie Hearne

5 stars

Fantastic company, with great customer service....

I have used many times in both Paris and Rome. Also used the euro card here in the UK with no problems. Use this below money saving code when you sign up...Read more

I have used many times in both Paris and Rome. Also used the euro card here in the UK with no problems. Use this below money saving code when you sign up to save the £10 sign up charge. 02kdvies Great card that has worked both every time I have used it. Cyprus next, which I am sure will present no problems :-)

6 days ago
by Paul

2 stars

Fundamentally Flawed Service - Cannot Recommend

I have had a Fair FX currency card for over 2 years and I’ve used it on 3 trips to Europe (Portugal, Belgium and Ireland). Sadly I’ve had issues on...Read more

I have had a Fair FX currency card for over 2 years and I’ve used it on 3 trips to Europe (Portugal, Belgium and Ireland). Sadly I’ve had issues on every trip with the card being declined, apparently for a variety of different reasons (none of which were lack of funds or incorrect PIN) when raised with FFX. There always seems to be a reason or excuse, the like of which never happen with my regular debit and credit cards... I've also found the top-up service challenging when abroad. My bank did not like me trying to do an online / app transaction from abroad (I passed Verified by Visa but it still failed because of the foreign IP address), which is not FFX's problem directly, but it does make the system a bit of an art to get used to. Top your card up before you go, or allow time for a BACS payment to clear before a weekend or you'll be left paying for your trip with other methods on a Saturday and Sunday. As a result of all this I’ve found that it becomes quite stressful when using the card; is it going to be declined? Do I have enough hard cash to cover this restaurant bill? Will I need to put the hotel bill on my on my UK credit card and incur a big charge? It's not fun being with friends, or business acquaintances and having your card declined... The explanations given for these failures have varied by FFX on each trip, usually citing some transient issue, but because of the frequency of issues my overall impression is that their cards are fundamentally less trusted than “normal” Mastercards, possibly as a result of some algorithmic quirk with individual providers taking different attitudes toward risk... but I’m speculating and don't know for sure... the bottom line is that transactions on these cards fail frequently and, in my personal experience, at least once on every trip abroad I’ve taken and tried to use the card. I’ve persevered with the card to a recent third trip, writing off the previous failures as quirks and due to the ex-rate being favourable, but on my first transaction on my last trip it failed straight away... Additionally I did notice I could have ordered the currency I needed in cash for the same rate on this last occasion. So, in summary, I'm just not convinced it's worth the stress or embarrassment and FFX's support hasn't really been anything more than average and I've needed to contact them far more than anyone would have liked. Sorry guys, I really wanted this to work.

6 days ago
by John Macdonald

3 stars

Sometimes this is fantastic- even most …

Sometimes this is fantastic- even most of the time, but out of UK office hours it gets flaky and transfers can be held up. And guess what- being a foreign...Read more

Sometimes this is fantastic- even most of the time, but out of UK office hours it gets flaky and transfers can be held up. And guess what- being a foreign currency card, a lot of the time is outside hours. So come on FX, step up and put on a night shift and make your outstanding daytime service 24 hour global.

6 days ago
by Paula

5 stars

Excellent travel card

Excellent card I have used in Thailand, Cyprus and Spain with no trouble at all. Feel safe using this card and no trouble topping up. Thank you very much...Read more

Excellent card I have used in Thailand, Cyprus and Spain with no trouble at all. Feel safe using this card and no trouble topping up. Thank you very much Fairfx.

1 week ago
by Robin Andrews

5 stars

Easy to use

Easy to use, top up etc. Always good rates, thoroughly recommended.

1 week ago
by ROBERT DAY

5 stars

An excellent service

An excellent service - easy to use and up to the minute balance easily checked.

12/06/2017
by Richard Dewhurst

4 stars

Suggestions for improvement

System works pretty well on the whole. I have occasionally had problems trying to top up from my mobile when abroad. When that happens the app just hangs...Read more

System works pretty well on the whole. I have occasionally had problems trying to top up from my mobile when abroad. When that happens the app just hangs at the payment card confirmation stage. When on the manage my card page - It would also be very useful to be able to print a statement of transactions between two dates or download the same to Excel.

12/06/2017
by Eddie Hearne

5 stars

Fantastic company, with great customer service....

Have used many times in both Paris and Rome. Also used the euro card here in the UK with no problems. Use this below money saving code when you sign up...Read more

Have used many times in both Paris and Rome. Also used the euro card here in the UK with no problems. Use this below money saving code when you sign up to save the £10 sign up charge. 02kdvies Great card that has worked both every time I have used it. Cyprus next, which I am sure will present no problems :-)

12/05/2017
by Eddie Hearne

5 stars

Fantastic company, with great customer service....

Have used many times in both Paris and Rome. Use this below money saving code when you sign up to save the £10 sign up charge. 02kdvies Great card...Read more

Have used many times in both Paris and Rome. Use this below money saving code when you sign up to save the £10 sign up charge. 02kdvies Great card that has worked both every time I have used it. Cyprus next ! :-)

12/05/2017
by Jake

1 stars

UnfairFX

Was looking in to use fairFX but have just read they are being done for money laundering in Saudi Arabia....FairFX? More like UnfairFX

12/04/2017
by Lynn Frankie McSweeney

5 stars

EXCLLENT!

My partner and I used our FairFX cards, without problems, throughout our nearly 4 week trip to the USA. They were widely accepted in the 4 states...Read more

My partner and I used our FairFX cards, without problems, throughout our nearly 4 week trip to the USA. They were widely accepted in the 4 states visited and as easy to use as "normal" debit or credit cards :-D. We also had cause to use them at one of the European airports en-route home, again with no issues. I am very happy to recommend this service and will indeed use again on our next trip in 2019.

12/04/2017
by Alan Boughey

5 stars

No probs

No probs. Card working well. Money Transfers spot on. Well done.

12/04/2017
by Martyn

5 stars

The the car is being amazing so easy …

The the car is being amazing so easy to use so easy to top up the dream can recommend it to anyone also growth rate of exchange far safer than taking cash

12/04/2017
by Eddie Hearne

5 stars

Fantastic company, with great customer service....

Have used many times in both Paris and Rome. Use this below money saving code when you sign up to save the £10 sign up charge. 02kdvies Great card...Read more

Have used many times in both Paris and Rome. Use this below money saving code when you sign up to save the £10 sign up charge. 02kdvies Great card that has worked both every time I have used it. Cyprus next ! :-)

12/04/2017
by Lorraine Gardiner

4 stars

It is very quick and easy to top up …

It is very quick and easy to top up your card, and useful to be able to save the details of more than one bank account to pay. I would like to see a...Read more

It is very quick and easy to top up your card, and useful to be able to save the details of more than one bank account to pay. I would like to see a better statement lay out, like you would get on a bank statement, top ups, less withdrawals, giving a balance of .... Also, when I signed up there was no mention of a withdrawal charge and I made the mistake of withdrawing small amounts frequently only to discover this was not a good policy. The fact that there is a charge should be transparent. As to exchange rate, I usually get a better rate on my Halifax clarity card, and no exchange charge, but the difference is not massive. Overall I am happy with the product.

12/03/2017
by Pip

3 stars

A near-disaster - don't rely soley on FairFX

I'm only leaving this review because they pestered me! I've previously found my FairFX card easy to use on various trips, however the last time was a...Read more

I'm only leaving this review because they pestered me! I've previously found my FairFX card easy to use on various trips, however the last time was a near disaster. The card was rejected on numerous occasions by various machines belonging to Euronet (which appears to be commonest network in Mykonos). Admittedly, one or two rejections were my fault as I input the wrong PIN, but most occurred before I was even asked for a PIN. Having panicked at the apparent lack of holiday cash, I contacted FairFX, by email, but they were completely uninterested and unhelpful. My advice would be don't leave yourself entirely dependent upon FairFX, they won't even attempt to help if you are stuck! And don't rely on the "use anywhere you see the Mastercard logo" - sometimes it just won't work! RP

12/03/2017
by Eddie Hearne

5 stars

Fantastic company, with great customer service....

Have used many times in both Paris and Rome. Use this below money saving code when you sign up to save the £10 sign up charge. 02kdvies Great card...Read more

Have used many times in both Paris and Rome. Use this below money saving code when you sign up to save the £10 sign up charge. 02kdvies Great card that has worked both every time I have used it. Cyprus next ! :-)

12/02/2017
by Helen

5 stars

Fairfx Currency Card

Easy to set up and perfect for holidays or travel

12/02/2017
by Eddie Hearne

5 stars

Fantastic company, with great customer service....

Have used many times in both Paris and Rome. Use this below money saving code when you sign up to save the £10 sign up charge. 02kdvies Great card...Read more

Have used many times in both Paris and Rome. Use this below money saving code when you sign up to save the £10 sign up charge. 02kdvies Great card that has worked both every time I have used it. Cyprus next ! :-)


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

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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


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