CurrencyFair International Money Transfers

Information verified correct on December 8th, 2016

A simple and competitive way to exchange currencies.

CurrencyFair is a peer-to-peer currency exchange service which offers a cheaper alternative to exchanging currencies at a bank or other similar service. CurrencyFair estimates that they can save consumers up to 90% on a currency exchange because of their unique peer-to-peer model, which sees your funds traded to other users without the high fees.

3 Free transfers after your first transfer

If you sign up using finder.com.au and make your first transfer, CurrencyFair will give you 3 free transfers.

Product NameExclusive: CurrencyFair International Money Transfers
Min. Transfer AmountEUR 8
Transfer MethodsOnline
Transfer OptionsOne off payments
Transfer Speed
Minimum transfer time
2 days
Banking PartnerCurrencyFair
Customer ServicePhone, Email
Available CurrenciesAED, AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HUF, ILS, NOK, NZD, PLN, SEK, SGD, USD, ZAR
Online Transfer FeeEUR 3

Pros

  • Peer-to-peer money service, so you'll get competitive exchange rates
  • Branches located in Ireland, Australia and the UK
  • Low fees

Cons

  • Only a small number of currencies available

CurrencyFair’s exchange rates

As mentioned above, CurrencyFair utilises a system where your currency is traded to others who want it. In exchange for this more transparent system CurrencyFair adds a small fee and margin to each transfer, which is still much smaller than what other banks and exchange brokers might charge.

What currencies are available?

CurrencyFair has a large range of currencies available for trade. These include:

  • Australian dollars
  • Euro
  • UAE dirham
  • Canadian dollars
  • Swiss franc
  • Czech koruna
  • Danish krone
  • Pound sterling
  • Israeli shekel
  • Japanese yen
  • Thai baht
  • Singapore dollar
  • Hong Kong dollar
  • Hungarian forint
  • Norwegian krone
  • New Zealand dollar
  • Polish zloty
  • Swedish krona
  • United States dollar
  • South African rand

Who can use CurrencyFair?

CurrencyFair is available for both businesses and personal clients. CurrencyFair can be helpful to many people, including:

  • International students - Living and studying abroad is expensive without having to factor in expensive currency exchange fees and poor rates.
  • Property owners - Owning an overseas property means you have to regularly make repayments. CurrencyFair can save you money over the course of your home loan. Considering most home loans are paid out over 20 - 30 years this can be a large saving.
  • Retired expat - If you’re retired and living overseas, it’s wise to seek cheap currency conversion so you better preserve your retirement funds.
  • Overseas workers - If you work overseas and regularly send money back to your family a service like CurrencyFair can see you save plenty in fees over the duration of your working life abroad.

How do I use CurrencyFair?

To use CurrencyFair you’ll need to open an account. This is free and takes five minutes to do. Once your account is open you can exchange currencies.

You’ll then have to send your funds to the client account. Next, you convert your funds into your chosen currency, and then you give CurrencyFair the account details to receive your funds.

CurrencyFair has short processing times. When transferring Australian dollars to Euros, it will take 1 - 2 business days for CurrencyFair to receive your funds and another 1 - 2 business days to receive the funds. This type of transaction would come with a EUR 3 fee. There’s also the option for a priority transfer which would only take 0 - 1 business days and cost EUR 8.

Real questions from our users

Is CurrencyFair Safe?

CurrencyFair is a fully regulated Payment Services Provider. They ensure your funds are held with top shelf global institutions which are separate from their own bank accounts.

Will I need to identify myself?

If CurrencyFair can’t verify your identity online you’ll need to send in some identification documents which they’ll verify manually. In most cases, CurrencyFair will you to supply at least one of the following:

  • Passport
  • Driver’s licence
  • Identity card

You’ll also need to supply some identification for your address:

  • Bank statement
  • Credit card statement
  • Utility bills
  • Insurance notices

Is there a minimum or maximum transfer amount?

You must exchange a minimum of 8 EUR (or the equivalent in your currency).

Are there ongoing fees when using CurrencyFair?

There are no ongoing fees with a CurrencyFair account.

Was this content helpful to you? No  Yes

International Money Transfer Offers

Learn about our information service
TorFX International Money Transfers

TorFX guarantee to beat any competitor's exchange rate for a transaction
Conditions apply

Exclusive: World First Foreign Exchange

Exclusive offer: $0 transfer fee
Transfer money into a range of currencies online and over the phone.

Exclusive: CurrencyFair International Money Transfers

Exclusive offer: 3 Free transfers (after your first transfer).
A peer-to-peer transfer service with a large range of currencies on offer.

FC Exchange International Money Transfers

No transfer fee via online, branch or phone when transferring more than £10,000 or equivalent.

Ask a Question

You are about to post a question on finder.com.au

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the finder.com.au privacy policy, receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

38 Responses to CurrencyFair International Money Transfers

  1. Default Gravatar
    caroline | November 16, 2016

    hi

    I would like to transfere $17350 American dollars from Egypt to Australia , same currency , how can I do that

    thank you

    • Staff
      Harold | November 16, 2016

      Hello Caroline,

      Generally, you open an account with the service, deposit the money you want to send via your local bank account so you’re not charged any fees. Then, you indicate what country you want to send the funds to by providing the recipient’s IBAN/SWIFT number, BSB and account number. The service then processes the transaction for you usually at a better exchange and lower fees due to economies of scale. Also, you may read this article as your reference guide before you do the money transfer.

      I hope this information has helped.

      Cheers,
      Harold

  2. Default Gravatar
    Carol | October 20, 2016

    Please can you tell me how I can transfer British Pounds to a Bank account in Kenya that is in US dollars? I have a currency fair account. Thank you

    • Staff
      Clarizza | October 24, 2016

      Hi Carol,

      Thanks for your question.

      You will need to first open a CurrencyFair account then send your funds to the client account. Next, you convert your funds into your chosen currency, and then you give CurrencyFair the account details to receive your funds. You can open an account with CurrencyFair direct from our site by clicking the ‘Go to site’ button. You will be taken to the CurrencyFair website where you can select the currency you will be sending and the currency your recipient will receive.

      Hope this has helped.

      Regards,
      Clarizza

  3. Default Gravatar
    alic | August 1, 2016

    can I send money from Kenya to Norway and how do I go about it

    • Staff
      May | August 1, 2016

      Hi Alic,

      Thanks for your inquiry.

      Unfortunately, sending money from Kenya to Norway through Currency Fair is not possible. But you can send through Western Union, Worldremit and Moneygram.

      Cheers,
      May

  4. Default Gravatar
    Sunny | April 17, 2016

    Can i send from Singapore dollars in Singapore bank to Canadian dollars in Vancouver

    • Staff
      Shirley | April 19, 2016

      Hi Sunny,

      Thanks for your question.

      You can send money from Singapore to Canada with CurrencyFair, though you can only conduct this online and not through a Singaporean bank.

      When you open a CurrencyFair account you’ll be asked to deposit funds.

      If you conduct it through your bank it’s likely to be a bank international money transfer instead.

  5. Default Gravatar
    Mike | April 13, 2016

    Do both parties/people have to be members of Currency Fair to transfer money to each other?

    • Default Gravatar
      Harry | April 13, 2016

      Hi Mike,

      Thanks for your question.

      The sender must be a member of Currency Fair in order to transfer money to a third party. The recipient does not need to have a Currency Fair account. You may need to provide Currency Fair with information regarding the third party and why you are sending money to them.

      I hope this helps,

      Harry

  6. Default Gravatar
    Ajay | March 17, 2016

    Hi,
    Is it possible to transfer money from AED to INR (India) through Currency Fair?

    Regards,
    Ajay

    • Staff
      Shirley | March 17, 2016

      Hi Ajay,

      Thanks for your question.

      Unfortunately CurrencyFair can’t support that transfer. TorFX, Currency Solutions, World First or Compass Markets can help.

  7. Default Gravatar
    mark | February 19, 2016

    how much in $aus to ensure 2511 NZ arrives in NZ bank a/c please

    • Staff
      Shirley | February 22, 2016

      Hi Mark,

      Thanks for your question.

      At the time of writing, AUD$ 250.10032 will need to be sent.

      Hope this helps.

  8. Default Gravatar
    Michael | January 2, 2016

    HI,
    How do I get th free transaction? I’ve followed the link to the CurrencyFair website from finder.com.au, but they re still wanting to apply to transaction charge.
    Michael

    • Staff
      Shirley | January 4, 2016

      Hi Michael,

      Thanks for your question.

      Your account will be credited with €15 after your first transfer. We apologise for any inconvenience caused.

      Cheers,
      Shirley

  9. Default Gravatar
    lisa | December 2, 2015

    i have a currency fair account, can i us it to transfer funds from my linked account in Australia to a friend bank account in the UK?

    • Staff
      Shirley | December 3, 2015

      Hi Lisa,

      Thanks for your question.

      Yes this should be possible with your current CurrencyFair account.

      Cheers,
      Shirley

  10. Default Gravatar
    Kevin | November 3, 2015

    Can I send money from a Chinese bank in China to Ireland?

    • Staff
      Shirley | November 4, 2015

      Hi Kevin,

      Thanks for your question.

      Unfortunately this isn’t possible with CurrencyFair.

      Cheers,
      Shirley

Ask a question
feedback