Sending money home or managing multi-currency income needn’t cost a fortune. Banks notoriously add hidden margins of 2–5 % on exchange rates plus hefty transfer fees, but CurrencyFair offers a smarter alternative—especially for backpackers and digital nomads in Australia.
If transferring money via an international transfer platform is new to you then check out: How to transfer money to Australia for more information.
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What Is CurrencyFair?
CurrencyFair is a peer-to-peer money-exchange platform regulated by the Australian Securities and Investments Commission (ASIC – AFSL No. 402709) and the Central Bank of Ireland. Since 2009, it’s facilitated over €10 billion in transfers across 150+ countries, supporting 22–25 major currencies. Its user-friendly web and mobile apps let you swap one currency for another at rates up to 8× cheaper than banks, with transparent, flat fees.
5 Fee-Free Transfers for New Customers
Thanks to our partnership with CurrencyFair, Australia Backpackers Guide offers you an affiliate link to create an account. You will then get 5 free transfers. This is a great way to save on transfer costs if you are planning an overseas trip to a few countries with different currencies.
To get your 5 free transfers, it’s easy, just click on one of the buttons of this page:
After exhausting these, you’ll pay a modest A$4 flat fee per transfer—still far below bank charges. This promotion can’t be combined with other new-customer offers, so activate early and plan your major transfers accordingly.
How CurrencyFair Works
- Visit the CurrencyFair website www.currencyfair.com and create your account
- Request transfers online
- Send your money into their account
- CurrencyFair exchanges your money to the currency of your choice and transfers it to your nominated account.
The exchange rates offered by this type of platform are much more advantageous than if you went directly through your bank. What’s more, transfer fees are just AUD 4 (excluding the 5 free transfers)! So you can save a lot of money compared with a traditional bank-to-bank transfer.
Save money with CurrencyFair
With no excessive bank fees, a competitive exchange rate, the CurrencyFair platform is more cost effective than your usual bank. Please note that the exchange rates vary depending on the market and currency. After your 5 free transfers, a transfer fee of only AU$4.00 applies.
Transfer from Europe to Australia using CurrencyFair:
You wish to transfer €5000.
You pay $4 transfer fee (or $0 using our link).
The market rate is around $1.78 for 1€
The rate offered by CurrencyFair will be around $1.76
For €5000 you get about $8,833.50
Transferring from Europe to Australia using a bank:
You wish to transfer €5000.
You might pay a transfer fee (usually around €25).
The market rate is around $1.78 for 1€
Your bank will offer you a rate around $1.72
For $5000 you will get $8,573.86
Without even considering any bank fees you are already saving $260.
Key Features and Benefits of using CurrencyFair
We have tried many different currency transfer platforms and find CurrencyFair the best company of choice due to the following:
- Very low fixed charges: most competitors offer charges calculated relative to the transferred amount (0.7%) or higher fixed charges.
- Competitive Exchange Rates: By cutting out the banks, CurrencyFair can offer rates that are often much closer to the market mid-rate, saving users a significant amount of money on each transfer.
- Low Fees: CurrencyFair charges a small, transparent fee for each transaction, which is typically much lower than those of traditional banks or other money transfer services
- Safety and Security: The platform uses state-of-the-art security measures to protect users’ funds and personal information, ensuring a safe and reliable transfer process.
- User-Friendly Interface: Both the CurrencyFair website and mobile app offer a seamless user experience, making it easy for anyone to make international transfers without hassle.
The Genesis of CurrencyFair
Launched in 2009, CurrencyFair is an online service specializing in international money transfers. With over 150,000 customers and more than a decade of experience, the platform has become a leading name in currency exchange, now supporting over 20 different currencies for cross-border payments.
📍 A global, regulated company
Headquartered in Ireland, CurrencyFair also maintains offices in the United Kingdom, Australia, Singapore and Hong Kong. The company is strictly regulated by the Central Bank of Ireland and by the Australian Securities and Investments Commission (ASIC), ensuring transfers that are safe and compliant with both European and Australian standards.
📱 An intuitive, high-performance app
CurrencyFair offers a free mobile app for iPhone and Android that makes it simple to send money and access advanced features like live exchange-rate tracking and a full transaction history.
⚡ Expansion into the professional market
In 2021, CurrencyFair launched Zai, a division dedicated to mid-sized businesses, providing advanced financial services such as payment management, multi-currency conversion, fraud protection and bank reconciliation. Meanwhile, the core platform continues to serve individuals and small businesses seeking fast, competitively priced transfers.
Transferring money overseas with CurrencyFair is really simple and extremely cost effective. To get your five free transfers, all you need to do is to click the button below and register on the CurrencyFair website. Your free transfers will sit in your account and can be used anytime.
CurrencyFair Customer Feedback
Here are some of the customer reviews from the TrustPilot website where CurrencyFair received a rating of 4.1/5 out of over 8921 reviews.
Read more: CurrencyFair – How it works and Reviews
FAQs
With over 10 years’ experience, CurrencyFair has already traded over $15 billion since its launch. The company has all the necessary accreditations and is closely monitored by the authorities in each country in which it operates. CurrencyFair is rated 4.1/5 out of over 8921 reviews on Trustpilot.
Between 1 and 5 days, depending on whether this is your first transfer or not. 1 to 3 working days in most cases.
You can send and receive currency from over 150 countries worldwide. The platform offers conversions in over 20 currencies (£, USD, AUD, EURO, AED, CAD, CHF, DKK etc).
