Currency Fair Review by iCompareFx highlight this global money transfer service's foreign currency exchange rate, money transfer fees, transfer speed, destination countries, coupons and promotion codes etc.

1. CURRENCYFAIR REVIEW
LEADING GLOBAL MONEY TRANSFERS

2. BACKGROUND
CurrencyFair is an Irish company created by three expatriates who settled in
Ireland. Brett Mayers, Sean Barrett and Jonathan Potter. Two Aussies and one
South African. With the support of Enterprise Ireland, these three ex-bankers
formed their company to help other expats get a better outcome transferring
money overseas. Based in Dublin, this small team is taking on the big banks by
offering a fantastic service.
This CurrencyFair review will look at the main features that I feel are important
when comparing services that transfer your money online.

3. AT A GLANCE

4. PROVIDES
GREAT
SERVICE
SIMPLE AND
INTUITIVE
WEBSITE
STRAIGHT
FORWARD
GLOBAL
MONEY
TRANSFER
TRUSTWORT
HY PROVIDER
COMPETITIVE
RATES
QUICK N
EASY SIGNUP

5. HOW IT WORKS
Transfer money
to CurrencyFair
bank account
in your local
country
Convert
currency using
QuickTrade or
through their
unique
Marketplace
better rate
Transfer your
converted
currency out
the other side
in another
country and
currency

6. ACTIVATE
ACCOUNT
After signing up, and logging on for the first time, you will be asked for activating your
account. You will be asked for some personal and contact details. You must accept
their conditions to continue. On the account activation page, add your CurrencyFair
Coupon for your first transaction fee free.
CREATE
ACCOUNT
Go to account creation page. Create an account with your email address and a secure
password. You will receive an email to the address you provided to verify your
address. At this point you can log on to the CurrencyFair Dashboard and you are ready
for Account Activation.
SETTING UP ACCOUNT

7. ADDING
BANK
ACCOUNT
On the left menu click Manage Bank Accounts link. Follow the instructions to add the
accounts you have in different countries.
Congratulations! You are now ready
PROVE
IDENTITY
As per the laws against money laundering and compliance requirements, you need to
upload photo identity card and to proofs of address from separate sources. After
uploading, you may need to wait for a business day.
SETTING UP ACCOUNT

8. TRANSFERRING AND CONVERTING
TRANSFERRING IN & OUT
DEPOSIT FUNDS IN
CONVERTING CURRENCY
TRANSFER FUNDS OUT
On the left hand side menu you will see the Deposits and Transfer section. This is where you move your
money in and out of CurrencyFair. At every step you receive an email when an action occurs, for example
deposit received or currency conversion completed.
Clicking the Deposit Funds In option brings you to an easy wizard that prompts you to enter the Currency
and Amount you are depositing; which registered bank account you are transferring from; and finally they
remind you of CurrencyFair’s local bank details for that currency and very nicely they also remember you to
add your Reference Account number.
This is where the magic happens. At the top of the Currency Fair interface you will find a drop down menu
labelled Exchange. This gives you two options, QuickTrade and MarketPlace.
Click the Transfer Funds Out option brings you to another easy wizard. This wizard prompts you to choose
the account you are sending your converted currency. Select your foreign destination account and finally
choose how much you are transferring out of CurrencyFair.

9. FUND DELIVERY SPEED
With the banks taking several working days to transfer your money, you will be pleasantly surprised by the
speed at which these international money transfer companies can move money.
They offer standard and priority transfers across a number of currencies. The priority transfers attract an
additional fee but worth it if you are in a hurry. I find that they are pretty fast in the first place so I don’t use
this service. It is still good to know that it exists. They also offer a same business day (with conditions) between
Great Britain and Ireland. This is very handy for people working across the water
or who own investment property.
CurrencyFair has recently introduced ‘regular overseas payments’ within their online money transfer system. I
updated this CurrencyFair Review to reflect this new feature. You’ll find the new option under the “My Orders”
menu option. CurrencyFair call this option ‘Recurring Transactions’.
REGULAR OVERSEAS PAYMENTS

10. FUND DELIVERY SPEED
With CurrencyFair, there is a fixed fee per transfer of three (3) Euro. Unlike some of their competitors, this fee
is not waived when you go over a certain transfer amount.
On top of the fixed fee, there is an additional transaction cost calculated based on the amount you transfer and
how you transfer. This fee can range between 0.15% and 0.5% of the amount you are transferring. It is based
on how you convert your currency and how many members are in the market place. CurrencyFair will
guarantee exchanges and will step in at a cost of between 0.4% and 0.5%. They advertise that the cost is on
average 0.35% per transaction.
Fixed Fee – 3 Euro
On Average 0.35% of Amount Exchanged

11. WHERE CAN SEND MONEY
CurrencyFair can send money to twenty currencies worldwide and many more countries. The Euro currency
alone is used by many European countries. This list can change. To get the most up to date copy, go to the
Support & Help Centre on the CurrencyFair website and look for the ‘What countries can I transfer to?’. You
will find a complete list there.
CURRENCYFAIR REGISTRATION COUNTRIES
Currently there are 63 countries where you can signup for an account. They add to this list regularly so if your
country is not on this list, you should contact them directly to ask them if you are eligible. I have put together
the current list of eligible countries for you which you can find in another post here.

12. CURRENCYFAIR USER EXPERIENCE
Overall my experience is great and my CurrencyFair Review should reflect that.
I have outlined some specific observations of note below.
WEBSITE EXPERIENCE
SAFETY N SECURITY
CUSTOMER SERVICE
The Web Site application heavily employs easy to use, wizard driven processes. It makes the service quite
intuitive. The uncluttered simplistic UX design and calming color scheme is a pleasure to use. There is
nothing present that does not add value.
CurrencyFair is regulated by the Central Bank of Ireland and in Australia by the Australian Securities and
Investments Commission. Your confidence in this service is assured by these regulatory bodies. As with
everything, you need to accept the low risk. I have confidence in these guys and I don’t leave your money
in with them for too long. You don’t earn an interest and the banks guarantee deposits to a certain
amount. CurrencyFair doesn’t.
They have received some good reviews that they advertise on their website with regard to customer
service. The CurrencyFair Help & Support centre is well designed and full of all the information you may
need that I haven’t covered in this article. You can find their Help & Support here.

13. MAKE MONEY WITH CURRENCYFAIR
Joining CurrencyFair’s affiliate program can earn you 50 Euro per person you refer. Learn more
about this by reading my ‘Make Money with CurrencyFair‘ article on their affiliate program.
RECEIVE MONEY FROM THIRD PARTIES TO
YOUR CURRENCYFAIR ACCOUNT
If you provide services for companies overseas, they can send money to your CurrencyFair
account. If you wish to do this you just need to provide some more details to the CurrencyFair
team. You can find contact details for them here.

14. THANKS FOR WATCHING
For more details about CurrencyFair
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