Frequently Asked Questions

CurrencyFair is a service designed for people that need to exchange money into foreign currency and send it internationally. Our unique, peer-to-peer marketplace results in a number of benefits over traditional methods like banks and brokers.

Anyone that needs to exchange currency and send it to a bank account overseas, whether it’s their own account or that of a third party. We’re Perfect For expats, businesses, and overseas property owners, to name just a few. 

No, sorry. We don’t accept or deliver cash. CurrencyFair only operates via bank transfers. 

Yes. CurrencyFair is fully regulated and authorised to perform payment services under both European and Australian regulations, and all our client funds are held in segregated client accounts with a major global (not Irish) bank. Please read our Security Statement for more information.

No, unfortunately not. As a regulated entity, we are required to identify you before we can transmit any money on your behalf. We try to keep the registration process as simple as possible.

No. Registration is completely free. Well, it might take 5 minutes of your time, but it won’t cost you any money.

Just click on Create an Account and fill in our simple registration form. In some cases we may need to collect some additional information, such as scans or digital photographs of documents proving your identity or address. If this is the case we’ll let you know what we need and how to get it to us.

First you send to CurrencyFair the funds that you want to exchange. You then convert these funds by matching with other customers on our marketplace, and finally you instruct us to transfer them out to a beneficiary bank account around the world. It’s very simple, and explained in detail here.

The commission on the marketplace is 0.15% of the total amount matched, but this is built into the calculator already. So the rates on the site are very real, and they are the final, actual rates; what you see is what you get. Good as they are, you don’t even have to take these rates if you don’t want to. CurrencyFair is a marketplace, and you can choose to offer up your own, better rate and hope to be matched by someone else. If you offer up your own rate, the same principle applies; our 0.15% commission is built-in, so the rate you ask for, if matched, will be the final rate that you get.

There is a small fee for transferring money out to a bank account. This is 3 Euro or the equivalent in other currencies. The fees and approximate transfer times in each currency are detailed here.

Currently we have 15 currencies available for exchange on the MarketPlace. You can see a list of these on our Currency Converter. We’re adding more currencies regularly. If your currency isn’t listed yet, please Contact Us because we can arrange exchanges in other currencies over the telephone.