TransferWise and CurrencyFair are sound companies if you want to send money abroad. If you need regular currency conversion to euros then one of these 2 is an absolute must unless you want to burn your hard earned cash.
Both CurrencyFair and TransferWise offer competitive exchange rates that are significantly less than the big banks.
- TransferWise offer exchange rates are close to the open market rate.
- CurrencyFair also offers a Peer to Peer service or ‘MarketPlace’ that, in some cases, beat the market rate. You may need to wait longer for other CurrencyFair customers to match you.
“After much research and experience with Currency Fair I decided they were the better option. I get pretty much close to the bank rate every time.”
Dublin-based CurrencyFair set its sights on the business market, aiming to take on the banks when it comes to performing currency transactions.
CurrencyFair was compared against eight banks, money transfer services such as the Post Office and MoneyCorp, and rival startup TransferWise. CurrencyFair came out top for transferring £10,000, ahead of TransferWise, with the banks coming in last.
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