Currencies Direct vs CurrencyFair Comparison

Established in 1996, Currencies Direct has become a trusted name for both personal and business transfers worldwide, boasting a wide range of services and a strong regulatory framework.

CurrencyFair, founded in 2009, distinguishes itself with a peer-to-peer exchange mechanism, allowing users to achieve potentially better rates.

Both companies provide secure, efficient, and cost-effective solutions for sending money abroad, catering to a global customer base with their innovative financial services.

Customers

Company NameCurrencies DirectCurrencyFair
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Currencies Direct ReviewCurrencyFair Review
Customer rating4.9/5 (TrustPilot)4.5/5 (TrustPilot)
# Rating Customers9,500+6,000+
Top 3 Pros
  • Over 425,000 customers since inception
  • No fixed transfer fees
  • Extensive reach with 22 offices worldwide
  • 0.4% to 0.6% Overall Markup
  • First 5 Transfers for Free
  • Offers Multi-Currency Accounts
Top 3 Cons
  • Not suitable for remittances to Asia and South America
  • Online platform less intuitive than competitors
  • Online app functional but not a work of art
  • Not as known as some competitors
  • No dedicated dealers
  • Only 22 currencies available

Availability

Company NameCurrencies DirectCurrencyFair
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Office locationsUK, Spain, France, Portugal, India, China, South Africa, USAIreland, Australia, UK
# Currencies60+22

Security

Company NameCurrencies DirectCurrencyFair
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Regulated byFCA, FinCEN, othersCentral Bank of Ireland, ASIC
HTTPS SecuredYesYes
Segregated Customer AccountsYesYes
2FANoYes

Limits and Fees

Company NameCurrencies DirectCurrencyFair
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Min transferΒ£100€8
Max transferNo upper limitNo upper limit
Fixed feesNoYes, varies by currency
See rates before you log in?YesYes

Customer Support

Company NameCurrencies DirectCurrencyFair
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Dedicated DealerYesNo
EmailYesYes
PhoneYesYes
Live ChatNoYes
24/7NoYes

Ways to Transfer

Company NameCurrencies DirectCurrencyFair
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Online SystemYesYes
Online AppYesYes
Multi-Currency AccountYesYes
Cash PickupNoNo
Card Top-UpYesYes

Additional Functions

Company NameCurrencies DirectCurrencyFair
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HedgingYesNo
Mass paymentsYesYes
Cash chequesNoNo
Multi-Currency Debit CardYesNo

On MoneyTransferComparison, Currencies Direct has received a higher editorial score. The advantages of Currencies Direct over CurrencyFair are these:

  1. Extensive global presence with offices in multiple countries providing localized services.
  2. No fixed transfer fees, making it more cost-effective for larger transactions.
  3. Higher customer satisfaction rating on TrustPilot, indicating a strong trust and reliability factor among its users.

Both companies are reliable companies with good customer reviews, and both should be considered for your next international money transfer.

Currencies Direct is better for larger international transfers and business transactions due to its no upper limit on transfers, dedicated dealer support, and extensive business transfer features.

CurrencyFair is better for individuals seeking competitive rates and those looking to leverage a peer-to-peer exchange for potentially better rates, especially with their unique feature allowing users to request their own rate.