UK EU Referendum FAQs

Due to the results of the referendum to decide whether the UK will remain a member of the EU, the CurrencyFair marketplace has been temporarily closed in order to protect your money from rate volatility.

FAQs:

Q. Why has CurrencyFair closed the marketplace?

A. During times of extreme rate volatility, it can be difficult for CurrencyFair to obtain accurate interbank rate information. This creates a risk for us and for all of our customers, so it is necessary to wait for the rates to stabilise before allowing exchanges on CurrencyFair’s marketplace.

Q. When will CurrencyFair reopen the marketplace?

A. We expect to be in a position to reopen the marketplace on Friday morning (GMT). We do not have a specific time as yet, however we will be sure to notify you via the website as soon as everything is back to normal.

Q. Can I send money into, and transfer money out of, my CurrencyFair account when the marketplace is closed?

A. Yes, you can still move money in and out of your account.

Q. Can I exchange currencies on CurrencyFair when the marketplace is closed?

A. No, you will not be able to exchange until the markets reopen on Friday 24th June.

Q. I have set up an Auto-Transaction – what will happen if my money arrives and the marketplace is closed?

A. Your money will clear to your CurrencyFair account but your exchange will be temporarily paused until the markets reopen. Once the markets reopen, your exchange will go through at the best available rate at that time.

N.B. If the rate drops by more than 3% between the time that you set up the Auto-Transaction and the time that the marketplace re-opens, we will cancel the exchange and let you know via email. If you still wish to exchange, you can do so via the ‘Exchange’ page.

Q. My Recurring Transaction is due to take place – what will happen if my money arrives and the marketplace is closed?

A. Your money will clear to your CurrencyFair account but your exchange will be temporarily paused until the markets reopen. Once the markets reopen, your exchange will go through at the best available rate at that time.