Revolut vs CurrencyFair Comparison

Revolut, founded in 2015, has quickly risen to prominence with its innovative digital banking platform, offering a wide range of financial services including multi-currency accounts, budgeting tools, and cryptocurrency trading.

On the other hand, CurrencyFair, established in 2009, specializes in peer-to-peer currency exchange and international money transfers, providing users with competitive exchange rates and low fees.

This article delves into a detailed comparison of Revolut and CurrencyFair, highlighting their features, services, and how they stack up against each other in various aspects of international money transfer.

Customers

Company NameRevolutCurrencyFair
Logo
revolut new logo
Revolut ReviewCurrencyFair Review
Customer Rating4.4/5 (TrustPilot)4.5/5 (TrustPilot)
# Rating Customers109,000 (TrustPilot)6,000+ (TrustPilot)
Top 3 Pros
  • Great Currency Exchange Rates
  • Good App
  • Easy to Sign Up
  • 0.4% to 0.6% Overall Markup
  • Transparent Pricing
  • Opportunity to Beat Market Rate On P2P Marketplace
Top 3 Cons
  • Involved in Scandals Over AML Policy
  • Only PARTLY Regulated by FCA
  • Customer Response Could be Delayed
  • Not as Known as Some Competitors
  • No Dedicated Dealers
  • Only 22 Currencies Available

Availability

Company NameRevolutCurrencyFair
Logo
revolut new logo
Office LocationsGlobal – Australia, Brazil, Canada, etc.Dublin (Ireland), Surrey (UK), Newcastle (Australia), Singapore, Hong Kong
# Currencies29 via Bank Transfer, 140 with Currency Card22

Security

Company NameRevolutCurrencyFair
Logo
revolut new logo
Regulated byFCA, European Central BankCentral Bank of Ireland, ASIC
HTTPS SecuredYesYes
Segregated Customer AccountsYesYes
2FAYesYes

Limits and Fees

Company NameRevolutCurrencyFair
Logo
revolut new logo
Min TransferΒ£/€/$ 1Β£/€ 8
Max TransferNo limitNo limit
Fixed FeesVariable fees of between 0.35% and 1%€3 per transfer
See rates before you log in?YesYes

Customer Support

Company NameRevolutCurrencyFair
Logo
revolut new logo
Dedicated DealerNoNo
EmailYesYes
PhoneYesYes
Live ChatYesYes
24/7YesNo

Ways to Transfer

Company NameRevolutCurrencyFair
Logo
revolut new logo
Online SystemYesYes
Online AppYesYes
Multi-Currency AccountYesYes
Cash PickupNoNo
Card Top-UpYesNo

Additional Functions

Company NameRevolutCurrencyFair
Logo
revolut new logo
HedgingNoNo
Mass paymentsNoNo
Cash chequesNoNo
Multi-Currency Debit CardYesNo

Conclusion

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

  • Lower overall markup on currency exchanges
  • Transparent pricing through the online platform
  • The opportunity to beat the market rate on the P2P marketplace.

CurrencyFair is better for individuals looking for competitive exchange rates and those interested in participating in a peer-to-peer currency exchange marketplace.

Revolut is better for individuals seeking a broader range of financial services beyond money transfers, including budgeting tools, cryptocurrency access, and a multi-currency debit card for international spending.