Open top menu
CurrencyFair: 3 free money transfers

CurrencyFair: 3 free money transfers

CurrencyFair is an online platform to transfer money internationally. Accredited and extremely secure, you will be able to transfer your money from an account to another while doing some great savings!

Transferring money via an international transfer platform is maybe unusual for you. For a more detailed information you can check our article: How to transfer money to Australia

Free transfer with Currency Fair

Thanks to our partnership with CurrencyFair, Australia Backpackers Guide offers you an affiliate link to create an account. You will then get 3 free transfers. This is a good solution if you plan on making transfers while travelling abroad.

To get your 3 free transfers, click on the link:

CurrencyFair – Get 3 free transfers

CurrencyFair: How does it work?

CurrencyFair is an international money transfer platform. Here are the steps to follow:

1 – Create your account

2 – Request transfers online

3 – Send your money into their account

4 – CurrencyFair changes your money to the devise of your choice and transfers it to your account

Rates offered by this kind of platform are much better than the ones from your bank. Besides, the transfer cost is only $4. The transaction allows you to save a decent amount of money compared to a normal bank transfer.

Transfer from UK to Australia (using CurrencyFair)

For example: You wish to transfer £2000.

– You pay $4 transfer fee (or 0$ using our link).

– The market rate is around $1.67 for £1.

– The rate offered by CurrencyFair will be around 1.66.

– For £2000 you get about $3320.

Transfer from Ireland to Australia (using CurrencyFair)

For example: You wish to transfer 2000€.

– You pay $4 transfer fee (or 0$ using our link).

– The market rate is around $1.5 for 1€.

– The rate offered by CurrencyFair will be around 1.493.

– For 2000€ you will get about $2982.

Transfer from UK to Australia (with a bank)

For example: You wish to transfer £2000.

– You might pay a transfer fee, depending on your contract.

– The market rate is around $1.67 for £1.

– Your bank will offer you a rate around 1.63.

– For £2000 you will get $3260.

Transfer from Ireland to Australia (with a bank)

For example: You wish to transfer 2000€

– You might pay a transfer fee, depending on your contract.

– The market rate is around $1.50 for 1€.

– Your bank will offer you a rate around 1.45.

– For 2000€ you will get $2900.

Without even considering any bank fees you are already saving around $80.

For more information about CurrencyFair : CurrencyFair – How it works & review

CurrencyFair: Assets

We tried many different companies and here is why we really liked CurrencyFair:

1 – Very low fixed charges: most of its competitors offer charges calculated relative to the transferred amount (0.7%) or higher fixed charges.

2 – Exchange rate really close to the market rate.

3 – Possibility to transfer money in a devise without changing it directly. Other companies give you a rate available for a 24h period when you are transferring money. However most of the time it takes a few days to transfer your money, while the rate changes. Also devises change fast and 24h can make a huge difference. CurrencyFair allows you to transfer money on its account, while waiting for the exchange rate to be best before transferring your money. Once the money is changed you can just transfer it into your account.

4 – Possibility to change you devise with other members. CurrencyFair also allows you to choose your exchange rate. For instance, you want to convert £1000 in AUD, the market price is 1.67. CurrencyFair offers you 1.63. You can choose to settle your rate at 1.66. In this case you have to wait for another member to be willing to accept your offer and the conversion will be done automatically. You will even have access to a waiting list of member wanting to change the same devise.

 

CurrencyFair: 3 free money transfers
5 (100%) 6 votes
Backpackers Guide
Written by Backpackers Guide

The ultimate guide to work and travel around Australia with a Working Holiday Visa ! Get all the tips and advice from other backpackers. The first travel guide written by Backpackers for Backpackers in Australia!!!