Enda Kenny Pays CurrencyFair a VisitToday was a big day for the team at CurrencyFair thanks to the visit of the Taoiseach (Prime Minister of Ireland) who spent time with the CurrencyFair team and guests to open our new head office in Ireland. While he was at it, the Taoiseach (Enda Kenny, T.D.) announced the creation of 30 new CurrencyFair jobs in Dublin over the next 12 months.
Taoiseach Praises CurrencyFairThe Taoiseach was glowing in his description of what we’re trying to do at CurrencyFair. During his speech he said: “Ireland has a growing reputation as one of the best and most exciting locations in the world for innovative technology start-ups. “The establishment and rapid growth of CurrencyFair in Dublin is proof of that. The best advances in technology make the world a smaller place and the services provided by CurrencyFair will help people all over the world to transfer money cheaply.” We agree. We set up CurrencyFair with the belief that individuals and small businesses should be able to have access to the very competitive exchange rates for international transfers that are normally the private domain of the big banks and major corporations.
Fair Exchange Rates For AllMost everyday people don’t get access to fair exchange rates because they don’t deal in multi-million transactions (congratulations if you do!). That’s what we’re trying to change – we want everyone to be able to send money abroad with a fair exchange rate that doesn’t strip away large chunks of their money. As our customers know, our money matching system (we call it peer-to-peer) leads to major savings and greater control for each customer while cutting out unnecessary bank charges. We’re based in Ireland so let’s look at a local example: In the last year alone, Irish people lost over €100m in exorbitant bank fees on total global transfers in and out of Ireland. In contrast, since we started on our crusade, CurrencyFair has saved its customers more than €25 million in excessive bank fees and bloated exchange rate charges. So far, we’ve transferred more than €600 million and, as the Taoiseach pointed out during his speech, we’re still going strong.