Currencyfair vs Ria Comparison

CurrencyFair, established as a peer-to-peer (P2P) exchange platform, prides itself on offering transparent pricing and multi-currency accounts, catering primarily to individuals and businesses seeking efficient and cost-effective currency exchange solutions.

On the other hand, Ria, a subsidiary of Euronet Worldwide, Inc., boasts one of the largest global money transfer networks, providing a wide range of services including online transfers, mobile money, and cash pickups in over 190 countries.

While CurrencyFair is celebrated for its innovative P2P marketplace and competitive rates, Ria is recognized for its vast reach and convenience, making both companies reputable choices for those looking to navigate the complexities of international money transfers.

Customers

Company NameCurrencyFairRia
Logoria new logo
CurrencyFair ReviewRia Review
Customer Rating4.5 / 54.2 / 5
# Rating Customers6,000+ on TrustPilot5,800+ on TrustPilot
Top 3 Pros
  • Transparent pricing
  • P2P marketplace
  • Multi-currency accounts
  • Wide global reach
  • Professional support
  • Fair rates for remittances
Top 3 Cons
  • Limited currencies (22)
  • No FX hedging tools
  • Fee withdrawal on top of transfer fees
  • Low payment limits
  • Rates not great for large transfers
  • No dedicated dealers or hedging tools

Availability

Company NameCurrencyFairRia
Logoria new logo
Office LocationsDublin, Surrey, Newcastle, Singapore, Hong KongUSA, 447,000+ transfer agents worldwide
# Currencies22100+

Security

Company NameCurrencyFairRia
Logoria new logo
Regulated byCentral Bank of Ireland, ASICFinCEN, FCA, FINTRAC, ASIC
HTTPS SecuredYesYes
Segregated Customer AccountsYesNo
2FANoNo

Limits and Fees

Company NameCurrencyFairRia
Logoria new logo
Min Transfer€8 / Β£7No minimum
Max TransferNo upper limit$2,999 per day in US and Canada
Fixed Fees€3 for EUR transfers, variable for others$3 for transfers below $100, $5 above in the US
See Rates Before You Log In?YesYes

Customer Support

Company NameCurrencyFairRia
Logoria new logo
Dedicated DealerNoNo
EmailYesYes
PhoneYesYes
Live ChatNoNo
24/7NoNo

Ways to Transfer

Company NameCurrencyFairRia
Logoria new logo
Online SystemYesYes
Online AppYesYes
Multi-Currency AccountYesNo
Cash PickupNoYes
Card Top-UpNoNo

Additional Functions

Company NameCurrencyFairRia
Logoria new logo
HedgingNoNo
Mass PaymentsNoNo
Cash ChequesNoNo
Multi-Currency Debit CardNoNo

Conclusion

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

  • CurrencyFair offers a peer-to-peer (P2P) marketplace, allowing customers potentially to get better exchange rates by matching with other users.
  • CurrencyFair provides multi-currency accounts, enabling customers to receive, hold, and send money in multiple currencies, which is particularly beneficial for businesses or individuals dealing with multiple countries.
  • CurrencyFair has a more transparent fee structure, with clear information on transfer fees and exchange rates available before logging in, making it easier for customers to understand the costs associated with their transactions.

CurrencyFair is better for individuals and businesses looking for cost-effective transfers through a P2P marketplace, and those who need multi-currency accounts for managing money in different currencies.

Ria is better for customers who need a wide global reach for sending money, especially for remittances, and those who prefer cash pickup options for their recipients. Ria’s extensive network of agents and locations worldwide makes it a strong choice for transfers to remote areas where banking services might be limited.