CurrencyFair Review

How Does CurrencyFair Compare To The Other Big Players in FX?


CurrencyFair was founded in 2009 in Dublin, Ireland. They now have offices in Ireland, The UK, and Australia.

They operate as a Peer-To-Peer(P2P) currency platform, meaning that instead of sending currency across borders, they instead match people with a corresponding need for currency in different countries. This help to minimize bank fees. In the situation where the transaction can’t be matched, CurrencyFair steps in and makes a traditional money transfer. 

Products are available for individuals and businesses, along with a CurrencyFair Wallet; which allows you to hold funds on account and transact when you’re ready. 

CurrencyFair Home Page

TransferWise Pros and Cons


Fees & Rates


There is a fixed fee of €3 charged on all transfers with CurrencyFair. The equivalent fee in other currencies will apply(£ 2.50/AUD$4)


You have 2 options for rates at CurrencyFair. 

  1. You can try to match with someone on the exchange. To do this you set your currency, volume, and rate that you’d like to achieve on the exchange; and wait for someone to match with you.
    There is always the risk in this scenario, that you won’t be matched.
    CurrencyFair will then charge 0.25% or 0.3% on this transaction, depending on the currency pair being matched.
    You can read more about the CurrencyFair Exchange here.
  1. CurrencyFair can match your order instead. They will charge between 0.4% to 0.6% for this service, depending on the currency pair.

Safety & Reputation

Although CurrencyFair operates as a peer-to-peer specialist, all funds are held in segregated accounts in one of the world banks.

They are also regulated by the Central Bank of Ireland, and ASIC in Austalia.

Trustpilot has calculated a score of 9.4/10 for CurrencyFair.

Countries & Currencies


CurrencyFair has offices in Ireland, Australia, and the UK. You’re able to register for a CurrencyFair account from these countries:

  • Anguilla
  • Aruba
  • Australia
  • Austria
  • Belgium
  • Bulgaria
  • Canada
  • Croatia
  • Curacao
  • Cyprus
  • Czech Republic
  • Denmark
  • Estonia
  • Faroe Islands
  • Finland
  • France
  • French Guiana
  • French Polynesia
  • Germany
  • Gibraltar
  • Greece
  • Greenland
  • Guadeloupe
  • Hong Kong
  • Hungary
  • Iceland
  • Ireland
  • Isle of Man
  • Italy
  • Latvia
  • Liechtenstein
  • Lithuania
  • Luxembourg
  • Malta
  • Martinique
  • Mayotte
  • Netherlands
  • Netherlands Antilles
  • New Caledonia
  • New Zealand
  • Norway
  • Poland
  • Portugal
  • Reunion
  • Romania
  • Saint Barthelemy
  • Saint Helena
  • Saint Martin (FR)
  • Saint Pierre and Miquelon
  • San Marino
  • Sint Maarten (NL)
  • Slovakia
  • Slovenia
  • South Africa
  • Spain
  • Svalbard and Jan Mayen
  • Sweden
  • Switzerland
  • United Arab Emirates
  • United Kingdom
  • Wallis and Futuna


One drawback of using CurrencyFair is that their options for currencies are limited. This may be fine for you if your currency is accepted though. They currently only exchange the following currencies: 

  • Euro EUR
  • UAE Dirham AED
  • Australian Dollar AUD
  • Canadian Dollar CAD
  • Swiss Franc CHF
  • Czech Koruna CZK
  • Danish Krone DKK
  • British Pound GBP
  • Hungarian Forint HUF
  • Norwegian Krone NOK
  • New Zealand Dollar NZD
  • Polish Zloty PLN
  • Swedish Krona SEK
  • US Dollar USD
  • South African Rand ZAR
  • Indian Rupee INR
  • Singapore Dollar SGD
  • Hong Kong Dollar HKD
  • Israeli Shekel ILS

What Is The CurrencyFair Wallet?

The CurrencyFair Wallet acts as a holding account for multiple currencies. 

You can top up your CurrencyFair Wallet via Bank Transfer, debit card(in Ireland) and BPay(in Australia).

From the CurrencyFair wallet, you can easily manage your funds, transfer between currencies, and send money out. 

CurrencyFair Account Page

Signing Up For A CurrencyFair Account Online

It doesn’t take long to sign up for a CurrencyFair Account online. Just click this link, and follow the steps below.

CurrencyFair Signup Process 1

Head to CurrencyFair and fill in your details. They’ll only ask you for a few simple details at the start, or you can use Facebook to create an account.

CurrencyFair Signup Process 2

Once your account is created, CurrencyFair will ask you to set up your first transaction. Your account won’t be fully active until you do so.

This is when they will ask you to verify your identity. 

Once you’ve verified your identity and set up a transfer. Your account will be up and running.

Leave a Reply

Your email address will not be published. Required fields are marked *