We have assembled all our important legal documents here for your convenience.
Legal Requirements
Terms & Conditions
This website (the “Website”) is operated and owned by CurrencyFair Limited, a private company limited by shares incorporated in Ireland (company no. 469391), with its registered office at One, Central Plaza, Dame Street, Dublin 2, Dublin, D02 K7K5, Ireland (“CurrencyFair”). Please read the following Terms & Conditions (“T&Cs”) before using this Website. By accessing and using this Website, you acknowledge that you have read, understood, and agree to be bound by the T&Cs. By continued use of the Website, you will be bound by revised or further T&Cs as published on the Website. You should therefore check these T&Cs every time you use the Website. If registering on behalf of a business, you hereby declare that you have the authority to bind that business to these T&Cs.
1.1 You should not use the Website from any country where accessing or using the Website, or any of the information, products or services on it, is prohibited by law. This Website does not constitute any invitation or solicitation by CurrencyFair to any person to use any such information, products or services in countries where to do so is prohibited by law.
2.1 This Website may only be used by individuals, companies, or other legal persons who have the legal capacity to enter into legally binding contracts under the law applicable in their country of residence. Without limiting the foregoing, and by way of example, this service is not available to persons under the age of 18 or otherwise under the legal age of majority, or to persons of unsound mind. If you lack the legal capacity to enter into a contract, you may not use this service, and CurrencyFair shall not be responsible for any unauthorised use of this service by such persons.
2.2 The content of the Website, and the products and services made available by CurrencyFair on the Website, are intended for use by holiday or business travellers, or by individuals or corporations seeking to purchase currencies for legitimate use, and should not be used for speculation or investment.
3.1 CurrencyFair may, in its absolute discretion, make such changes to the Website content or the products and services offered by CurrencyFair through the Website as CurrencyFair considers appropriate from time to time.
4.1 CurrencyFair may terminate your use of the Website for any breach of these T&Cs, or for any breach of law or regulation, or for any reason CurrencyFair considers appropriate to comply with anti-money laundering and other financial regulations. CurrencyFair reserves the right to decline any part of your order at any time.
5.1 All intellectual property and all materials comprising or contained on the Website, including but not limited to all text/articles, logos, software and images, are owned, or, as the case may be, licensed, except as otherwise expressly stated, by CurrencyFair. The materials contained on or comprising the Website may not be copied or redistributed for commercial or private purposes of any kind without prior written permission from CurrencyFair. CurrencyFair grants you a non-transferable and limited personal licence to access and use the Website. This licence is conditional upon your continued compliance with these T&Cs. You agree not to “deep-link” to the Website, resell, or permit access to the Website to others, and you agree not to copy any materials appearing on the Website for resale or for any other purpose to others without the prior written consent of CurrencyFair. For the avoidance of doubt, you will be responsible and bound by any unauthorised use of the Website made in breach of this section.
6.1 CurrencyFair may provide links to other websites that are controlled or operated by third parties. Links to other websites are solely provided for your convenience and are not an endorsement, authorisation, sponsorship, or affiliation by CurrencyFair with respect to such site, its owners or its providers, and you shall not hold CurrencyFair liable for any loss or damage caused by use of or reliance on any content, goods or services available on these linked sites.
7.1 All content shown on the Website (and all services and products provided by it) is provided and made available without any warranties, conditions, or guarantees given by CurrencyFair. All such warranties, conditions, or guarantees, which would otherwise be implied by law, are excluded to the fullest extent permitted by law. In particular, CurrencyFair does not warrant the accuracy, suitability, reliability, completeness, performance, and/or fitness for purpose of the content of any services or products available through this Website.
7.2 CurrencyFair shall use its reasonable endeavours to ensure that any dated information contained or reproduced on the Website is obtained from sources believed to be reliable and has been prepared in good faith and with all reasonable care. CurrencyFair does not accept any responsibility to update or amend any information and makes no warranty concerning the completeness and exactness of such information. CurrencyFair will not have any liability for the use or interpretation of such information. None of the information constitutes financial or investment advice. Daily data is not readily available for some exchange rates and, therefore, may be out of date.
8.1 Any communications or materials of any kind that you e-mail, physically mail, telephone, or otherwise transmit through the Website, including information, data, questions, comments or suggestions (“your communication”) will be treated as non-proprietary and non-confidential, and CurrencyFair may use your communication in any way it thinks fit, either on the Website or elsewhere with no liability or obligation to you. CurrencyFair is free to use any idea, concept, know-how, or technique contained in your communication, for any purposes, including but not limited to developing and marketing products. CurrencyFair may monitor your communications for the security of the Website, and such monitoring will not entitle you to any cause of action or give you any right to the manner in which communications are monitored. CurrencyFair will not be liable for any loss, costs, damages, expenses, or any other liabilities incurred as a result of CurrencyFair’s monitoring activities.
9.1 You agree to use the Website at your own risk.
9.2 CurrencyFair uses reasonable skill and care in providing its products and services to you. However (to the maximum extent permitted by law), CurrencyFair is not liable to you for any loss, damage, claim, or compensation (including loss of profit or loss of use) incurred by you from your use of, or your inability to use, the Website or the products or services offered through or by the Website however caused notwithstanding any error or omission, including negligence.
9.3 CurrencyFair shall not be liable to you or any third party for any loss, damage, claim or compensation (including loss of profit or loss of use) incurred by you resulting from the failure of CurrencyFair to execute any transfer in accordance with the instructions from you.
9.4 Time shall not be of the essence for the processing of any transfer. In particular, CurrencyFair accepts no responsibility for any delay in onward payment attributable to the late arrival of your instruction for transfer relative to the cut-off times of our bank.
9.5 CurrencyFair shall not be liable for any fees or commissions charged by any intermediary bank or other entity when funds are deposited in your CurrencyFair account or transferred to your personal or recipient account.
9.6 CurrencyFair’s maximum aggregate liability to you in respect of all foreign currency transactions undertaken by you shall be limited to a refund equivalent to any monies you have paid to CurrencyFair to acquire foreign currency.
9.7 You agree that CurrencyFair will not be responsible in any way to you or any other person in the event of force majeure or for the act of any Government or legal authority.
9.8 For your protection and that of other users, you should not share your registration information (password, user name, security questions, and PIN) with any other person or entity for any purpose. You alone are responsible for all acts or omissions that occur within the Website through the use of your registration information.
9.9 You hereby indemnify and hold blameless CurrencyFair, its directors, officers, employees, and agents from and in respect of any loss, damage, liability, cost or expense that it may suffer or incur by reason of your failing to discharge your obligations under or acting in breach of any of these T&Cs or any breach of any applicable law or regulation.
9.10 You shall be responsible for providing and maintaining the means by which you access the Website, which may include, but is not limited to, a computer and a modem or telephone. You shall be responsible for all access, service and ongoing fees necessary to connect to the Website, and you shall assume all risks associated with the use and storage of information on your computer or on any other computer through which you will gain access to the Website and our services. You agree that CurrencyFair will not be liable in any way to you in the event of failure of or damage or destruction to your computer system, data or records or any part thereof or for any delays, losses, errors or omissions resulting from the failure or mismanagement of any telecommunications or computer equipment or software. You will not expose the Website to any viruses, trojans, or other similarly harmful or inappropriate material or devices. In the event that any such viruses, etc., are deemed to have been transmitted to the Website from your account, CurrencyFair reserves the right to terminate your account, and you shall be liable for the costs to CurrencyFair of removing such viruses, etc., and CurrencyFair shall have the right to set off the cost against any balance held to the credit of your CurrencyFair account.
9.11 CurrencyFair shall not be liable for any viruses or other technologically harmful material that may affect your computer equipment, computer programs, or other material resulting from your use of the Website.
9.12 If you have a mobile device with fingerprint authentication enabled, you will have the ability to access the CurrencyFair mobile app using your fingerprint data. If your device does not have fingerprint authentication enabled or available, you can also access the CurrencyFair mobile app via your mobile PIN or your email address and password combination. You alone are responsible for all acts or omissions that occur within the CurrencyFair mobile app through the use of your registration information, PIN, or biometric data. Please note that CurrencyFair does not retain or store any biometric data.
10.1 The marketplace will be open during the periods published in the FAQs, which may be updated from time to time. CurrencyFair reserves the right to open or close the market earlier or later than the published times.
10.2 At the point the marketplace is closed, all open orders will be cancelled. Should your order be cancelled as a consequence of the marketplace closing, CurrencyFair will return the balance of your funds in the marketplace to your CurrencyFair account, and send you an email informing you of such cancellation and transfer.
10.3 CurrencyFair reserves the right to suspend the marketplace at any time and for any length of time. While the marketplace is suspended, you will not be able to place orders but you will be able to cancel open orders. During suspension, CurrencyFair will not cancel any open orders.
10.4 CurrencyFair is not liable to you for any loss, damage, claim, or compensation (including loss of profit or loss of use) incurred by you from your inability to use the Website or the products or services offered through or by the Website during the periods in which the marketplace is closed or suspended.
11.1 Please follow the steps on the screen in order to place or match an order. CurrencyFair reserves the right to ask for further information before placing or matching the order in the market.
11.2 CurrencyFair will use various procedures to authenticate each order for the purposes of law and regulations, including anti-money laundering regulations. CurrencyFair reserves the right to decline to continue to process any part of your proposed order at any time.
11.3 You will be able to correct the details of your order any time up until the order enters matched status. After that point, you will no longer be able to correct the details of your order.
11.4 CurrencyFair will send you an email acknowledgement of your proposed order once it has received it, but please note that this is an acknowledgement only and does not constitute acceptance of your proposed order by CurrencyFair.
11.5 All orders placed are subject to matching by CurrencyFair, and CurrencyFair will confirm such matching to you by sending you an email that confirms that the order has been matched. The contract between CurrencyFair and you will only be formed once CurrencyFair sends you the confirmation email that your order has been matched. Until that time, there will be no binding arrangement for CurrencyFair to supply you with any foreign currency or other services. You should print and retain a copy of the confirmation email for your records.
11.6 CurrencyFair is entitled to refuse, withdraw, or cancel your proposed or matched order at any time, for any reason.
11.7 Should your proposed or matched order be cancelled before being processed, CurrencyFair will seek confirmation from you as to whether you wish the cleared balance of your CurrencyFair accounts transferred as per your specific instructions. In the event a proposed or matched order is cancelled on the instructions of any law enforcement agency or regulatory body, CurrencyFair may retain all or any of your money if it is required to do so by law and then deal with it as ordered by a court or other body of competent jurisdiction.
11.8 You are responsible for any additional costs incurred by CurrencyFair in the event you have provided incorrect payment instructions for the purpose of transferring funds from your CurrencyFair account.
12.1 You shall not be entitled to any interest on funds held in your CurrencyFair account.
12.2 CurrencyFair may deduct from any deposits or transfers such amounts as may be required by law or as may be charged by CurrencyFair in respect of transfer fees or other charges properly due to CurrencyFair under these T&Cs.
12.3 You agree and represent that all funds deposited by you in respect of any order are legally and beneficially owned by you and are not subject to any charge, lien or other encumbrance of any kind.
12.4 CurrencyFair will not use customer funds for its own purposes. Funds received from you are held separately from CurrencyFair’s own funds in segregated accounts and are applied solely for the purpose of executing your payment transactions, in accordance with these T&Cs and applicable law. Where funds constitute Safeguarded Funds (as described below), they are held and protected in accordance with the statutory safeguarding requirements.
13.1 How we safeguard customer funds. For the purposes of these T&Cs, it is important to distinguish between:
13.2 Not all funds received by CurrencyFair are Safeguarded Funds at all times. The point at which funds become Safeguarded Funds depends on how and when they are received and applied to a payment transaction.
13.3 CurrencyFair is authorised and regulated by the Central Bank of Ireland as a payment institution under the European Union (Payment Services) Regulations 2018 (the “PSRs”).
13.4 For the purposes of these T&Cs:
13.5 Where CurrencyFair provides Payment Services, it is required to safeguard Relevant Funds in accordance with Regulation 17 of the PSRs.
13.6 Funds received from you solely for the purpose of FX Services are not Relevant Funds and are not subject to statutory safeguarding protection under the PSRs.
13.7 Funds received from you may initially be credited to an account used for the receipt of customer funds. While held in such accounts, those funds are operationally segregated and kept separate from CurrencyFair’s own funds.
13.8 Once a foreign exchange transaction has been completed and funds are held by CurrencyFair for the purpose of executing a payment to a beneficiary, including where they are credited to an account used for the onward execution of that payment, those funds become Relevant Funds (and therefore Safeguarded Funds) and are safeguarded in accordance with applicable regulatory requirements until the payment transaction is completed.
13.9 CurrencyFair may, for operational or risk-management reasons, hold funds in segregated accounts prior to the point at which they constitute Relevant Funds. Such segregation does not, of itself, mean that those funds are subject to statutory safeguarding protection under the PSRs.
13.10 In practical terms, this means that your money is kept separate from CurrencyFair’s own funds and receives additional statutory protection once it is being used to make a payment for you.
13.11 In the event of CurrencyFair’s insolvency, only funds that qualify as Relevant Funds (and therefore Safeguarded Funds) at the relevant time would be subject to statutory safeguarding protections under the PSRs.
13.12 CurrencyFair may, in the future, offer additional payment services, including payment accounts, subject to regulatory approval. Where this occurs, the point at which funds become Safeguarded Funds may change, and these T&Cs will be updated accordingly.
14.1 If any provisions of these T&Cs, including these disclaimers and limitations, shall be unlawful or unenforceable, then such provisions shall fall away and shall not affect the validity and enforceability of the remaining terms. Your statutory rights remain unaffected.
15.1 CurrencyFair processes information about you in accordance with its privacy policy. By using the Website, you consent to such processing, and you confirm that all data you provide is accurate.
15.2 Third Party Analytics. By using CurrencyFair, you agree to the use of third-party analytics.
16.1 All use of the Website and these T&Cs is governed by the laws of Ireland.
16.2 All disputes arising out of the use of the Website and/or any services or products provided by CurrencyFair or any dispute relating to these T&Cs shall be resolved by the Courts of Ireland.
17.1 As a payment services business, CurrencyFair is regulated by the Central Bank of Ireland. The Central Bank of Ireland and the regulations require payment institutions, amongst other things, to apply anti-money laundering and counter-financing terrorism procedures aimed at detecting and preventing financial crime. Our staff are fully conversant with Anti-Money Laundering guidelines and are aware of their responsibilities in the monitoring and reporting of any actions that raise suspicion or give cause for concern.
17.2 CurrencyFair may utilise the services of a third party in order to confirm your identity as part of the registration process.
17.3 CurrencyFair reserves the right to collect identification from you before depositing funds and placement or matching of an order. In general, CurrencyFair collects identification in the form of a copy of a passport/driver's licence and a utility bill showing your current residential address dated within the last three months.
17.4 You should assume all information provided to CurrencyFair is available to regulatory authorities in both the country of origin of the funds and the destination country of the funds.
17.5 You represent and warrant that the monies transferred to your account with CurrencyFair are not connected in any manner to any unlawful or illegal activity.
17.6 CurrencyFair reserves the right at all times to refuse to process any proposed or matched order which it believes, in its sole discretion, is connected in any manner to any unlawful or illegal purpose. We have a legal obligation to report to the Central Bank of Ireland any such suspicious transactions.
17.7 CurrencyFair is obliged by law to monitor any unusual or suspicious transactions of any size taking place where we have reasons to believe the money is derived from suspicious, unlawful, or illegal activity. CurrencyFair reserves the right to review such transactions. If this review causes a delay to the deposit, trade, or transfer, CurrencyFair is not liable for any late fees, unpaid invoices, or any other costs associated with the transaction.
17.8 There is a statutory obligation on all CurrencyFair employees and their agents to report suspicious transactions to the Irish authorities. Where any such report is made, CurrencyFair accepts no liability for any delay in transmission of or confiscation of the funds.
18.1 CurrencyFair may, from time to time, run a refer a friend programme or other such promotional activities. When such promotional activity is run by CurrencyFair, the T&Cs thereof can be found here.
19.1 The security of customer funds and information is a primary concern. Customer funds are held separately from CurrencyFair’s own funds in segregated accounts as part of our operational safeguarding arrangements. Where funds constitute Relevant Funds under the European Union (Payment Services) Regulations 2018, CurrencyFair applies the statutory safeguarding requirements in respect of those funds in accordance with Clause 13 (Safeguarding of Customer Funds) of these T&Cs. Customer funds are held with CurrencyFair’s banking partners in accordance with these arrangements.
20.1 CurrencyFair is regulated and fully authorised by the Central Bank of Ireland under the European Union (Payment Services) Regulations 2018. This regulation governs the provision of regulated payment services (including money remittance) by CurrencyFair. Foreign exchange conversion may be provided in connection with such services; however, FX conversion itself is not a regulated payment service under the European Union (Payment Services) Regulations 2018.
20.2 The Central Bank of Ireland imposes minimum capital requirements and ensures the highest standards for internal policies and procedures, detection of financial crime, and the protection of client funds. You can check the register here and find out more information on what it means for your protection and consumer rights.
21.1 CurrencyFair may, for operational and risk-management purposes, hold customer funds in segregated accounts that are separate from its own corporate accounts. Such segregation does not, of itself, mean that those funds are subject to statutory safeguarding protection under the PSRs, which applies only to Relevant Funds as described in Clause 13 (Safeguarding of Customer Funds) of these T&Cs.
22.1 CurrencyFair complies with the Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) legislation. These legal requirements mean CurrencyFair will report any suspicious transactions or fraudulent use of identification documents. To do this, we maintain very high standards that require us to:
22.2 CurrencyFair may require its clients to provide additional information or documentation to fulfil our legal obligations, and where it deems appropriate, refuse any client or transaction that is suspected of being related to financial crime.