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The Guardian Newspaper Praises CurrencyFair In Australia

April 3, 2015

The Guardian newspaper has praised CurrencyFair for ‘taking on the big four banks in the land of the CurrencyFair go.’ The Guardian newspaper

The newspaper reported that CurrencyFair ‘has enabled expats and holidaymakers to transfer $2.5bn at a fraction of the cost charged by the banks since its founding five years ago.’ It also said that ‘The peer-to-peer currency exchange website CurrencyFair is aiming to take on Australia’s big four banks and double its small Newcastle workforce with a multimillion-dollar injection of funding.’

The newspaper also reported on the fact that the company was growing rapidly. It also described how new staff would be utilised:

‘New staff would be put to work making it easier for customers to use the service but also for developing new ideas. These include allowing a customer to use their CurrencyFair account to buy goods and services. For example, a customer could pay for a hotel room in, say, Hong Kong, from a CurrencyFair account in HK dollars without having to pay credit card charges. The business receiving the money would also avoid charges, making the arrangement mutually beneficial.’

The article was good follow-up to other popular press articles about CurrencyFair in Australia including these:

  • Sydney Morning Herald says to avoid expensive bank charges by using CurrencyFair: ‘Quite a few smaller hotels in Europe will insist on a deposit of funds in euros to a bank account before they accept a booking. While you can complete this transaction through your Australian bank, the bank will charge a hefty fee for the service, and there’s a good chance the bank at the other end will also shave off a receiving fee.’
  • The Brisbane Times: CurrencyFair is better than banks by a long shot: ‘On paper, it seems ridiculous… Banks wilfully float your money at a slack pace, skimming interest and leaving you liable to overdraft fees, the theory goes, persuasive in its apparently streetwise logic. In fact, it seems, the system is suspect, only for less venal reasons.’
  • Choice Magazine recommends CurrencyFair: Independent and transparent, CHOICE was founded in 1959 with one clear mission: to ensure the consumer voice is heard loudly and clearly. ‘The biggest issues for Australians making overseas transfers are hidden fees, delays and getting double-charged by banks on both sides”… “The good news is that it’s easier to send money through a non-bank service than you may think.’

For more information, check out: How To Send Money To And From Australia.

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