CurrencyFair.com Blog

Money Transfer Companies Compared

If you are trying to decide which is the best way to move your money abroad (or receive money from another country), this article Money Transfer Companies Compared is exactly what you need.  Money transfer companies compared

Below are all the different options for making international money transfers. We’ll help you with some common questions like:

  • Which is better, Paypal or CurrencyFair?
  • How do currency brokers like Oz Forex compare to CurrencyFair?
  • Are banks much more expensive than CurrencyFair?
  • CurrencyFair vs Transferwise?

Remember to also check out the actual numbers in this Comparison Table.

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3 Big Media Reviews of CurrencyFair

When someone first looks into sending money abroad they naturally have questions and concerns. After all, we all work hard for our money and no-one wants to give it away to third parties if they don’t have to.

Trust is a big issue when it comes to a financial service provider.

In this article, we’ll look at how the international news media view the money transfer industry (including media reviews of CurrencyFair).

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From Little Things, Big Things Grow – CurrencyFair’s 5th Anniversary

We’re in an even better mood than usual here at CurrencyFair.

Why? CurrencyFair-5th-Birthday

We’re celebrating our 5th birthday!

It’s been quite a journey so far and one that has been made so worthwhile by our wonderful customers and supporters.

A Stroll Down Memory Lane

Things looked a little different back when CurrencyFair first opened business.

The co-founders and first employees had all given up good jobs to risk it all on a bold new venture. The startup team were determined to help all those working expatriates, students living abroad, business owners, retirees abroad, and foreign property owners – all of whom had been unfairly treated by their banks when it came to sending money abroad.

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CurrencyFair, World’s Leading Person-To-Person Currency Exchange Marketplace, Raises €10 Million

PRESS RELEASE:

CurrencyFair, World’s Leading Person-To-Person Currency Exchange Marketplace, Raises €10 Million

The dominant person-to-person currency transfer platform operating in the £2k plus marketplace, secures €10 million round investment led by Octopus Investments.

CurrencyFair has today announced it has raised a €10 million funding round, led by Octopus Investments.

CurrencyFair was the first platform in the world to break the $1 billion barrier in money-matching transfers early last year. Since then, their growth has accelerated month-on-month across their main currency corridors between the UK, Europe and Asia-Pacific.

This latest funding round will help capitalise on the expanding new sector of peer-to-peer currency transfer, and enhance and expand CurrencyFair’s existing currency corridors. Participants in the round include venture capital investors Octopus Investments (‘Octopus’) with follow on from existing investors Frontline Ventures.

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Engineering Hiring Challenges – The CurrencyFair Tech Blog

This article was originally published on the CurrencyFair Tech Blog

Growth is a great problem

CurrencyFair has been experiencing exceptional growth over the last number of years as we reach more and more people around the world, with our product being the best way to transfer money internationally. Having transferred over €1.7bn and saved our customers over €100m to date, it’s an easy story to tell. Scaling up even further allows us to build more features, reach more people, communicate more efficiently and save even more money for our customers, but along with this exceptional growth comes associated challenges.

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Former US Banking Regulator Reveals The Best Way To Rob A Bank

Recently, on the CurrencyFair blog, we looked at how the how the international banking system works:

The international banking system is an enigma. There are more than 30,000 different banks worldwide and they hold unbelievable amounts of assets. The top ten banks alone account for roughly 25 trillion U.S. dollars. Today, banking can seem very complex; but, originally, the idea was to make life simpler.

In the article, we shared an excellent video which explained everything in a light and entertaining way (you can go back and watch the video here). How to rob a bank

Today we’re looking at the banking system from a different angle.

We’re hearing from a former US banking regulator who reveals the best way to rob a bank.

William Black is a former bank regulator who’s seen firsthand how banking systems can be used to commit fraud — and how “liar’s loans” and other tricky tactics led to the 2008 US banking crisis that threatened the international economy.

In his engaging talk, Black, now an academic, reveals the best way to rob a bank — from the inside.

A controversial perspective indeed. Recall this section?

“First ingredient in the recipe: grow like crazy; second, by making or buying really crappy loans, but loans that are made at a very high interest rate or yield; three, while employing extreme leverage — that just means a lot of debt — compared to your equity; and four, while providing only trivial loss reserves against the inevitable losses. If you follow those four simple steps, and any bank can follow them, then you are mathematically guaranteed to have three things occur. The first thing is you will report record bank profits — not just high, record. Two, the CEO will immediately be made incredibly wealthy by modern executive compensation. And three, farther down the road, the bank will suffer catastrophic losses and will fail unless it is bailed out.” 

Time will tell if we are to see another global banking crisis.

International money transfers

Want More?

For more information and viewpoints, you may like to check out these articles:

The International Banking System Made Simple [Short Video]

Money Transfer Companies Compared

Exchange Rate Movements And How They Affect Your International Transfer

37 Fun Ways People Heard About The Crusade Against Bank Fees

Which Country Has The Highest Monthly Disposable Income?

We love data here at CurrencyFair. MoveHub.com, the international moving company who are “dedicated to making your move abroad easier“, have compiled the below infographic based on personal disposable income (after all taxes) around the world.

The usual suspects feature near the top; Switzerland, Australia, USA and the Nordic countries, with tax havens and oil producers following closely. Zambia makes a surprise entry in the top five because, according to The Independent, “the range of surveyed incomes are quite high, distorting the average; the median would be much lower.”

There’s more good news for us here in Ireland after Sunday’s epic Six Nations Championship win – the average disposable monthly income is $31 higher than in the UK.

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The International Banking System Made Simple [Short Video]

If you’ve ever felt out of your depth while your friends discuss the economic collapse, or the rise of crowdfunding, or just about the banking system itself, we’ve something that will help you.

The international banking system is an enigma. There are more than 30,000 different banks worldwide and they hold unbelievable amounts of assets. The top ten banks alone account for roughly 25 trillion U.S. dollars. Today, banking can seem very complex; but, originally, the idea was to make life simpler.

This excellent explainer video from the team at Kurzgesagt will give you everything you need to know in a light, entertaining way.

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Jamie Heaslip Speaks Exclusively with CurrencyFair

Since suffering a serious back injury in Ireland’s win against France on Valentine’s Day, Jamie Heaslip has had to watch his teammates progress from the sidelines. Sitting two points above England at the top of the table has certainly helped the Number 8 deal with his setback.

Jamie recently sorted us out with a signed Ireland rugby jersey, part of our sponsorship of the Six Nations coverage in Australia with beIN SPORTS, so we thought we’d check in and see how he’s progressing and how he feels Ireland’s campaign has gone so far. (transcript below)

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Is London Really As Crowded As It Seems?

London has a definite cosmopolitan vibe, with people from all over the world flocking to visit, live and work in the UK’s largest city. It’s been announced that the population has now hit 8.6 million, so you’d naturally think it’s a little cramped – but we’ve found some beautiful visual data to suggest otherwise!

Here’s a fancy graph on London’s population density. 21,000 people/km2 is far from empty, but to see just how crowded it is, you need to compare it to India’s capital city, Delhi (below). So next time you hear someone complaining about a crowded tube, tell them it’s not all that bad!

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The World’s Most Beautiful Currencies

It might surprise you to learn that International Bank Note Society have a yearly poll to determine the “IBNS Banknote of the Year“, and have been doing so since 2004. What sparked our interest in the beauty of bank notes was a design competition to decide Norway’s new notes, which was finalised at the end of 2014, with design firms Snøhetta and Metric System sharing the win.

The theme is the meeting of land and sea, perfect for Norway and its reported 100,915 km of coastline (including all islands, fjords and everything in between). Whatever the numbers, we think the designs are really nice.

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How To Send Money To And From The Czech Republic [Free Download]

If you need to make an international money transfer to or from the Czech Republic, this free guide will answer your questions.

Click the button below to access your free guide on sending money to or from the Czech Republic.

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