Send Money With CurrencyFair

CurrencyFair Review: A Comprehensive 2025 Guide to International Money Transfers

CurrencyFair stands out as one of the best platforms for international money transfers, offering competitive rates and a seamless customer experience. Whether you’re an expat sending money home, a business managing cross-border transactions, or a freelancer receiving international payments, CurrencyFair delivers significant savings and convenience.

This detailed guide explores all aspects of CurrencyFair, including features, fees, security, transfer speed, onboarding process, and customer support, updated for 2025.

1. What Is CurrencyFair?

CurrencyFair is a peer-to-peer (P2P) money transfer platform established in 2009, designed to offer cost-effective international money transfers. With over €9 billion in transfers processed and customers saving approximately €230 million in fees, CurrencyFair is a reliable alternative to traditional banks and forex brokers.

Quick Facts

• Founded: 2009
• Headquarters: Ireland
• Supported Currencies: 20+
• Transfer Speed: Typically 1-2 business days
• TrustPilot Rating: Outstanding
• Regulations: CBI, ASIC, AFS, MAS, and C&E HK

2. Key Features of CurrencyFair

CurrencyFair excels in offering unique benefits to its users. Here’s what makes it stand out:

Cost Savings

• Exchange rates up to 8 times cheaper than banks.
• Fixed transaction fee of €3 and an exchange margin as low as 0.35%.

Custom Rates

• Users can set their own exchange rates and wait for a match, maximising value.

Free Transfers

• Get your first 10 transfers free when signing up

Multi-Platform Access

• Use CurrencyFair via its website or mobile app (iOS & Android).

Global Reach

• Transfer money from 60+ countries to recipients in over 150 destinations.

3. How CurrencyFair Works

CurrencyFair simplifies international money transfers into three easy steps:

Step 1: Create an Account

Sign up for a free account. Input your details and verify your identity using the eKYC (electronic Know Your Customer) process, which is entirely online for most regions.

Step 2: Deposit Money

Transfer funds from your bank account or debit card to your CurrencyFair account. Note that debit card top-ups may incur a small fee, depending on the card’s country of origin.

Step 3: Transfer and Save

CurrencyFair exchanges your money at the best available rate and sends it to the recipient. Transactions are typically completed within 24-48 hours.

4. Fees and Charges

CurrencyFair Fee Breakdown

• Fixed Fee: €3 per transaction.
• Exchange Rate Margin: 0.1%-0.6% of the transaction value, depending on the currency pair.

How Does CurrencyFair Compare?

Additional Costs

• Bank Fees: Some third-party banks may charge intermediary fees when transferring money to or from CurrencyFair accounts.
• Debit Card Fees: Topping up via debit card incurs a small fee depending on the card’s origin.

5. Transfer Speed

CurrencyFair’s average transfer processing time is 1-2 business days, influenced by:

• Currency pair
• Bank processing times
• Time of transaction (morning transfers are processed faster)

6. Is CurrencyFair Safe?

Yes, CurrencyFair is highly secure and regulated by multiple authorities:

• Central Bank of Ireland (CBI)
• Australian Securities and Investments Commission (ASIC)
• Hong Kong Customs and Excise Department (C&E HK)

Security Features

• Segregated Accounts: Client funds are kept separate from operational accounts.
• Compliance: Adherence to anti-money laundering and financial crime regulations.
• Encryption: Uses advanced encryption to protect user data.

7. CurrencyFair for Businesses

CurrencyFair offers solutions tailored for businesses:

• Low Fees: Cost-effective options for international payments.
• Flexible Transfers: Ideal for paying suppliers, employees, and contractors.
• Segregated Accounts: Ensures funds are secure at all times.

Business Use Cases

• Setting up recurring payments
• Managing overseas cash flow
• Invoicing international clients in their local currencies

8. Supported Countries and Currencies

CurrencyFair supports transactions from 60+ countries to 150+ destinations, including:

Regions Covered

• Europe: UK, Germany, France, Spain
• Asia: Singapore, India, South Korea
• Oceania: Australia, New Zealand
• Americas: USA, Canada, Brazil
• Middle East & Africa: UAE, South Africa

Currencies Supported

CurrencyFair supports over 20 currencies, including GBP, EUR, USD, AUD, and more.

9. Registration and Onboarding

CurrencyFair simplifies account creation:

• Verification: Submit ID (passport or driver’s licence) and proof of address (utility bill or bank statement).
• eKYC: Automatic electronic verification for most regions.
• No Hidden Fees: Registration is free.

10. Customer Support

CurrencyFair provides reliable customer support with the following features:

• Support Channels: Email and online contact form.
• Response Time: Average 2 hours during weekdays.
• Availability: 24/5 support (Monday to Friday) with reduced hours on weekends.

Support Categories

1. Getting Started
2. Sending Money
3. Exchanging Money
4. Business Services
5. Account Management

11. Pros and Cons of CurrencyFair

Pros

• Low fees and competitive exchange rates
• Fully regulated by global financial authorities
• First 10 transfers free with Top10moneytransfer.com
• No minimum or maximum transfer limits

Cons

• Limited payment methods (bank transfers and debit cards only)
• Customer support unavailable by phone

12. FAQs

How long does a CurrencyFair transfer take?

Most transfers are completed within 24-48 hours. The duration may vary depending on currency and bank processing times.

What are the fees for using CurrencyFair?

CurrencyFair charges a €3 fixed fee per transfer and a margin of 0.35% above the interbank rate.

Is CurrencyFair safe?

Yes, CurrencyFair is fully licensed and regulated by authorities such as the Central Bank of Ireland and ASIC. Client funds are held in segregated accounts for maximum security.

Can I use CurrencyFair for business transfers?

Yes, businesses can use CurrencyFair for low-cost international payments, recurring transactions, and invoicing in local currencies.

Which countries are supported by CurrencyFair?

CurrencyFair supports users from 60+ countries and enables transfers to over 150 destinations worldwide.

13. Conclusion

CurrencyFair is an excellent choice for individuals and businesses seeking affordable, fast, and secure international money transfers. With low fees, a transparent pricing model, and award-winning service, it’s a reliable alternative to banks and traditional forex services.