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CurrencyFair Just Got Even Better: Automatic QuickTrades

June 17, 2015 how-to

Great news for anyone who wants to save time and save money!

Now you can set up your whole CurrencyFair international money transfers in one quick easy step.

New Automatic QuickTrades

You probably already know that CurrencyFair can save you up to 90% of the cost of an international money transfer.

You probably already know that a large number of our customers regularly beat the interbank rate (i.e. they get a better exchange rate than even the big banks wangle for themselves).

If you’ve been here before, you probably also know that transferring with CurrencyFair is quick and easy and can be done without climbing off your couch.

Well, it just got even easier! 

Introducing Automatic QuickTrades

In a nutshell, with an Automatic QuickTrade, you only need to visit your CurrencyFair account once.

Normally, (as we explained in this infographic) there are three steps to doing an international money transfer:

  1. Deposit your money from your local bank into your CurrencyFair account.
  2. Exchange: Choose your rate inside your CurrencyFair account and exchange instantly or wait to get an even better rate later.
  3. Transfer your money out into your destination account (you can also pay to third parties).

However, with an Automatic QuickTrade, you can effectively skip steps two and three simply by setting up the whole transfer in one go.

David Cooney Before we look at how it works, let’s hear from a valued customer who recently did his first Automatic QuickTrade, David Cooney. David is a marketing consultant and an aspiring DJ from Ireland who lives in London.

David: “I signed up for CurrencyFair last week as I am heading over to Ireland to meet some mates for a music festival and wanted to avoid the excessive fees charged when exchanging money at the airport. I chose the ‘Create a Transaction’ option and was really impressed by how quick it was. The money was in my friend’s account in Ireland less than an hour and a half after I’d sent it from London, and at a great rate. Unreal!”

Let’s take a look at how it works.

How To Set Up An Automatic QuickTrade

The whole purpose of Automatic QuickTrades is to make things easier for you and to speed up your transfer by skipping the Exchange and Transfer stages.

To set up an Automatic QuickTrade, simply log in to your CurrencyFair account and chose the Create a Transaction option.

Then click Continue.

AQT Deposit Funds In Screenshot

Then nominate your Deposit Account (where the money is coming from) and the Beneficiary Account (where the money is going to).

Then click Continue.

AQT bank accounts screenshot

In this last step, choose between a standard or priority transfer and enter the amount to be exchanged.

Next, enter any optional reference details you may wish to include such as such as a message for the recipient or a reference for your own records.

You’ll need to choose one of the reasons for the transaction (no, we’re not trying to be nosey – we’re required by law to ask as part of the world-wide campaign against money laundering).

Finally, tick the box to say you understand what you’re doing and click the Confirm button. Just so we’re clear, what you’re doing is this: telling CurrencyFair to exchange your money as soon as it arrives and then send it on to the receiving account of your choosing.

Automatic QuickTrade confirm details

One more thing . . .

You’re almost there!

All you need to do now is to tell your bank to deposit your money into your CurrencyFair account. As soon as it arrives, we’ll automatically exchange it and then transfer it out immediately into your chosen destination account.

Easy!

No more bank queues

No more bank queues

No hassle, no time-wasting, just job done.

You’ll still get an amazing exchange rate that the banks won’t offer you and it will have been arranged in a few quick minutes.

That’s a lot better than the old 30 minute queues we all used to endure down at the bank branch during our lunch breaks, right?

To get started on setting up your next Automatic QuickTrade, click here.

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