Currency Fair

[Happy in Cyprus]

I suspect that most of us, for most of the time, send hundreds of Euros, or less. Most times I am charged just €1-€3 for a transaction; so the difference between providers would be measurable in cents...and therefore inconsequential. Convenience and ease-of-use of the website are important to me personally.

I had a query on a transaction I carried out recently, and to be fair to Transferwise they sorted out the query by email in just 2-3 hours. So responsiveness and communication are good.

[Jim]

Good news for me my trial funds sent via TW arrived last night in my bank, so I will give the company my business next time, it took a couple of weeks to sort out but they got there in the end, they also said my next transfer up to 3K would be a free transfer because of the problems I experienced, sounds to me to be a good company and the bonus is so easy to use.

[Happy in Cyprus]

Can only agree, Jim. I've found them to be excellent

[mmiller02]

I am having "BIG" problems with Currencyfair as my funds have gone missing. They did not complete the account name correct and missed the last part. I have emailed them and called them and they said they would correct it as the receiving bank will not release the funds. Its now been almost 4 weeks and the funds have not been released or the error corrected. Currencyfair are ignoring my emails and phone calls seem to land on deaf ears. This same issued happened over a year ago and after spending over a month trying to sort it I requested them to recall the funds which I lost bank charges and the exchange rate was different.

I will be looking at an alternative provider from now on as ignoring customers emails and not dealing with their error casts doubts on their future.

[Maramike]

Clearly there are still, for whatever reasons, problems for some customers. I have never used this company or similar but have always used my bank here or in the UK to move funds.
I have just been in touch with Currency Solutions as I need to move some larger amounts in the near future. Has anyone had any bad experiences with them? (CS not CF) Naturally after reading some of the postings here I am a little hesitant to use Currency Fair.

[Canuck]

I used Currency Fair to shift quite a large amount. I first used them for 100 euros, as a sort of test, it worked fine so then used the same details for the large amount, it took two working days instead of the one promised but otherwise all good!

[Mike Strand]

I needed to transfer 10,000 Thai Baht a couple of days ago. CurrencyFair don't deal in that currency (as a standard) so I thought I'd give TransferWise a shot. I was surprised at how simple their system is compared to CF. No requirement to send any form of identification when registering, which surprised me. They initially said 2 days, but have now emailed me and said 7 days, which is not good.

[Ian@tala]

Mike, they might need kid when registering as a user, but surely they must need to verify that before a transaction can be completed? Otherwise, the AML police will be all over them like a rash?

Still no problems with CF for us, so I think I'll be staying with them, especially at a flat rate of €3 per transaction rather than 0.5%.

Ian

[trevnhil]

The 0.5% is certainly a lot more than CF charge, and would put me off.

Trev..

[Ian@tala]

Agree Trevor. on a €1000 transfer, there'd have to be a major exchange rate difference, which is unlikely as they are both using the mid market rates. A you can imagine, for our house build, the difference in fees for the money transfers to the contractor would have been in the thousands!

Ian

[travellin'gal]

Mike I would be interested to hear how your Thai baht transaction progresses.
I move money to Thailand occasionally, and C.F. told me a couple of years ago that they would "shortly" be able to do it.
Trisha

[propforward]

The last two transactions with CF there has been a problem transferring the funds because of an invalid Iban number, last time I just used the same instructions again and it was accepted, same problem has just happened again, I do not know if the problem is the UK end or Cyprus, has anybody had similar problems ??

[Cyprimole]

I used Transferwise today to transfer my pension over. Although their charges are a little higher on modest transfers I think they are acceptable, they give a better rate (.5 cent better today) and it cost me a little under €2 more than currencyfair .

It is so much easier to use and today my money was in my account here in Cyprus in under 4 hours.

The best transfer I have had in 13 years.

I agree though for large transfers the charges would need a second look!

Baz

[Mike Strand]

Mike I would be interested to hear how your Thai baht transaction progresses.
I move money to Thailand occasionally, and C.F. told me a couple of years ago that they would "shortly" be able to do it.
Trisha

It went better than TransferWise's revised transfer period; just 4 days.

[travellin'gal]

That's good news.
I will register with them so I'm set up for next time.
Thanks for the feedback.
Trisha

[Jim]

How can it be faster than TW see Baz posting a few hours! it is as most said very easy to use, worth the few extra pence I feel.

[explodingaardvark]

Jim,

Mike Strand's transfer was UK to Thailand whilst Baz's was UK to Cyprus. You are comparing apples with oranges.

[Jim]

Yes I am,

No idea about sending cash to other countries CL is about just that, have to say again and remembering what the thread is about TW are easy to use and fast, maybe CF is cheaper slightly but personally never liked their system, bit complicated for this thicko. Thailand here I come, well no not really.

[propforward]

Regarding earlier post about Iban number funds have been returned again, followed by a phone call from CF telling me that customers in Cyprus are having problems because the Cypriot Banks may have changed their Iban numbers without telling anybody.

[ASHTON]

Just done a four figure transfer through Currency fair,,no problems

[lincoln]

Our four figure transfer with CF went through again. No problem.

[daveg]

We too have completed a four fig sum through CF today...... no probs.

[The Shuttle]

I have just logged onto cf web site and noticed they have moved there bank account from London to Ireland has any member had transactions with this new bank?.

[Rigsby]

pattman

The bank account changes depending on what currency you are depositing.
For Euro the account is in Ireland as I think it always has.
however for Sterling deposits the account is still with Barclays in London. Account Earthport?

I have just come off their website so I can be 100% certain of this.

[The Shuttle]

thanks for the reply oops!!!! senior moment trying to transfer euros from uk bank.

Many thanks

[el tel]

Just transferred some funds to Cyprus from my UK bank account via CF , took just over 48 hours so happy with the service.

Terry

[Bazzra]

Hi pattman
HSBC have a Euro Account. OK for dealing but still usual charges for transfers.

[lincoln]

Our four figure transfer via C.F. in the Alpha account this am. Two days. Very pleased.

[The Shuttle]

I have just made a transfer with currency fair using there new speedy service, I made the exchange after bank closing time u/k and was in their account in 15 mins, the pound is on the up at the moment exchange before brexit,

[Pickles]

Agree with pattman, super exchange rates with CF just now and their new quicker service is excellent!

[lincoln]

Wow we got €1.29 for the £. Four figure exchange with CF and done this morning two hours later it was in the Alpha Bank. Only £3.00 charge still. Happy Chappy.

[Sinbad]

Transfer Wise have sent me this message .



With the EU Referendum in the UK on Thursday 23rd June, exchange rates are likely to be volatile. We’ve been putting plans in place so that your transfers continue to be processed as smoothly as possible.

So if it’s critical that you send money abroad this week, try to do it early Wednesday, or once the results are out.

To protect our customers, TransferWise will limit GBP transfers later in the week:
From 7am (GMT+1) Thursday, you won’t be able to create new transfers from any currency to GBP.
From 6pm on Thursday, you won’t be able to create new transfers from GBP to other currencies.
If you create a GBP transfer and we don’t receive your payment for it by 8pm Thursday, it will be automatically cancelled.
Once the Referendum results are in, we’ll resume everything on Friday.
Also, because the exchange rate is likely to be volatile, some transfers may take longer due to additional trading limits or possible delays in the UK banking system on Thursday or Friday