Good exchange rate, fast, easy and reliable
I'm surprised by the other reviews...I might have just been lucky but really, the transfer I made from France (euro) to Australia (AU$) went really well. I believe I got pretty much the best exchange rate that could be found at the moment - not only compared to banks but also to other international transfer companies. I received the funds quickly (in just a few days) and I got a couple of email notifications during the process. I was also able to get help at the start from a currencyFair agent by email. Quite smooth and very happy with the tran...saction. It was the second time I used their service. The rate does change during the process - it's not booked/fixed when you start the transaction. In my case, it was good because the euro went up but it's a bit of luck there. Sorry, for privacy matters, I prefer not to give more details but it's a genuine comment; I'm not getting any advantage or reward for writing this; I'm just sharing my experience in case that helps. I didn't give 5 stars just because some other transfer companies like torFx or XE were better for helping me in the process (a dedicated agent called me). With CurrencyFair, I was just dealing with someone by email. But the process is quite straightforward anyway.
Rude mean and unhelpful
They were really rude to my 82 year-old father when my mum died and wouldn’t help him with a transaction, after he had signed up. They were incredibly obstructive & aggressive when I tried to figure out how to navigate the app, whilst trying to hold them accountable for their rudeness to my poor dad.
They pulled the “you’re not the account” holder card even though my father was right there next to me, and even though Nothing I was asking had anything to do with his particular account. They just want to be trouble
Lost AUD96.98 in total, will never use this service again.
Tried to transfer USD1,700 from Australia to Maldives. When the transaction got delayed I sent an email to CurrencyFair, they replied saying that money has been sent and it is with the recipient's bank. After 10 days CurrencyFair sent me an email saying that money got returned, due to Regulatory issues. They credited my account with USD1678.16 that is less USD25.00, the amount I sent was USD1703.16. Without getting my transfer done, I lost AUD96.98 in total when exchange back to AUD.
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Untrustworthy Company, Slow and Complicated
Opened an account and they refused the verification with an ID, they kept asking for more documents. Some of my friends have had awful experience with them. They will find any excuse to hold the funds by requesting more documents. They are acting like a Police than doing the normal process of anti money laundry and verification. I advice everyone to stay away from them.
You can tell I will end up in troubles with them. Terminated the account.
Slow transactions and exchange rate can change after making transaction
With currencyfair, you set up your transfer and pay your money to their bank account. You are quoted an amount that your recipient will receive but that figure may go up or down depending on the exchange rate at the time currencyfair receives your money. I have used transferwise and instarem before to transfer money and you are guaranteed an amount when you set up the transaction. Before I made my currencyfair transaction, I checked with those 2 for their rates. Currencyfair was a little better. After currencyfair received my money, the amount ...changed and I would have been better off if I used either transferwise or instarem. So be aware that the rate could change either up or down after you make your transaction. Currencyfair advise this when you set up your transfer. In my case, the transaction took 5 days before the money was available. With Transferwise, the money can be available in hours, with instarem, it can take 2 to 3 days.
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