How Our Currency Exchange Fees Work
|
Typical Bank |
|---|---|
|
Transfer amount £ 2,000.00 |
Transfer amount £ 2,000.00 |
|
International transfer fees £ 2.50 |
International transfer fees £ 40.00 |
|
Exchange rate margin £ 6.00 |
Exchange rate margin £ 60.00 |
|
Total cost of transaction £ 8.50 |
Total cost of transaction £ 100.00 |
| On average you pay just 0.4% of the amount exchanged plus a €3 (or currency equivalent) transfer fee. | |
Our International Money Transfer Market
CurrencyFair is a marketplace, so are able to set their own exchange rates.
CurrencyFair charges 0.25% or 0.3% (depending on the currency pair being exchanged) of the total amount exchanged on each side when customers match each other. In the event that there are no other customers providing a competitive rate for your exchange, CurrencyFair will step in and match with you instead. This results in a charge of 0.4% to 0.6% of the amount exchanged (again, depending on the currency pair).
So depending on which way you’re exchanging, and the activity on the marketplace at that time, you’ll pay anywhere from as little as 0.1%, to 0.6%, plus a fixed €3 transfer fee.
International Money Transfer Pricing
On average, customers at the moment pay around 0.45%, however as more and more people use CurrencyFair this average rate will decrease.
You can always check our live rates at any time on our currency calculator. Remember this is the instant rate available for an exchange that happens immediately. With CurrencyFair, you can choose a rate that is even better than our live rate and still have a good chance of getting matched, meaning you can save even more money.