[fullwidth backgroundcolor=”” backgroundimage=”” backgroundrepeat=”no-repeat” backgroundposition=”left top” backgroundattachment=”scroll” video_webm=”” video_mp4=”” video_ogv=”” video_preview_image=”” overlay_color=”” overlay_opacity=”0.5″ video_mute=”yes” video_loop=”yes” fade=”no” bordersize=”0px” bordercolor=”” borderstyle=”solid” paddingtop=”20px” paddingbottom=”0px” paddingleft=”0px” paddingright=”0px” menu_anchor=”” equal_height_columns=”no” hundred_percent=”no” class=”” id=””][fusion_text]

Currency Exchange & Money Transfers

Most traditional banks charge over ordinary folk 5% in hidden fees when transferring from currency to another. The new peer to peer international money transfer platforms allow for a 90% reduction in those fees, allowing everyday people to benefit from the great exchange rates for international currency transfers normally reserved only for banks and market professionals dealing in millions. This alternative money transfer service is growing rapidly and is expected to achieve GBP 250 billion of currency transfers by 2017, with the market growing at an outstanding annual rate of 500%.

How does it work and is it safe?

P2P Currency Exchange & Money Transfer providers cut out the banks and brokers by providing an anonymous online currency exchange for those who are looking to buy each other’s currencies and matching buyers and sellers of many different currencies. Your funds are not sent directly to the buyer (or seller), instead you send it to the currency exchange firm which then passes it on. There is no minimum amount and maximum amounts are generous, usually topping out at £1 million. The largest platforms at the moment are Currencyfair and Transferwise. CurrencyFair (currencyfair.com) says its largest single transfer was €17 million and has saved its customers over 135m since starting operations. TransferWise (transferwise.com), which started three years ago, has now transferred more than £1 billion and is regulated by the FCA in the UK. CurrencyFair, which started in Australia in 2010, is registered with the Central Bank of Ireland so it comes under the European Communities Payment Services regulations. Both firms keep customer funds in a ring-fenced separate client account to safeguard their customer’s assets.

Costs & Time to Process

The main advantage is that you get the midmarket interbank rate banks use to trade with each other plus their commission which can be 0.5pc to 0.15pc. Brokers typically add 1pc-2pc to the midmarket price and banks add up to 5pc TransferWise charges 0.5pc commission (or a £1 fee on transfers under £200), making it cheap for smaller amounts under £2,000. CurrencyFair charges a £3 or €3 fixed fee and adds between 0.4pc and 0.15pc depending on how much is being transferred, making it cheaper for large amounts. By using the domestic bank in the country you’re sending money to or from you sidestep the international banking payment system SWIFT which is expensive and slow. Transfers generally take one or two days. You can pay more for a priority same-day or next-day service.

So stop being ripped off today by greedy banks and embrace the peer to peer international money transfers platforms to get your foreign currency at a rate you deserve.

Our selection of Currency Exchange & Money Transfer providers:

[/fusion_text][/fullwidth][fullwidth backgroundcolor=”” backgroundimage=”” backgroundrepeat=”no-repeat” backgroundposition=”left top” backgroundattachment=”scroll” video_webm=”” video_mp4=”” video_ogv=”” video_preview_image=”” overlay_color=”” overlay_opacity=”0.5″ video_mute=”yes” video_loop=”yes” fade=”no” bordersize=”0px” bordercolor=”” borderstyle=”” paddingtop=”20px” paddingbottom=”20px” paddingleft=”0px” paddingright=”0px” menu_anchor=”” equal_height_columns=”no” hundred_percent=”no” class=”” id=””][separator style_type=”single” top_margin=”20″ bottom_margin=”20″ sep_color=”#f4f4f4″ icon=”” width=”” class=”” id=””][one_fourth last=”no” spacing=”yes” background_color=”” background_image=”” background_repeat=”no-repeat” background_position=”left top” border_size=”0px” border_color=”” border_style=”” padding=”” class=”” id=””][imageframe lightbox=”no” style_type=”none” bordercolor=”” bordersize=”0px” borderradius=”0″ stylecolor=”” align=”none” link=”https://www.currencyfair.com/#HavenInvestor” linktarget=”_self” animation_type=”0″ animation_direction=”down” animation_speed=”0.1″ class=”” id=””] Currency Exchange[/imageframe][/one_fourth][one_half last=”no” spacing=”yes” background_color=”” background_image=”” background_repeat=”no-repeat” background_position=”left top” border_size=”0px” border_color=”” border_style=”” padding=”” class=”” id=””][fusion_text]CurrencyFair is straightforward, easy to use & our favourite Currency Exchange / Money Transfer provider.

An intuitive user experience & the requirements to start exchanging currency are simple to fulfil.[/fusion_text][/one_half][one_fourth last=”yes” spacing=”yes” background_color=”” background_image=”” background_repeat=”no-repeat” background_position=”left top” border_size=”0px” border_color=”” border_style=”” padding=”” class=”” id=””][button link=”https://www.currencyfair.com/#HavenInvestor” color=”custom” size=”” type=”” shape=”” target=”_self” title=”Currency Exchange” gradient_colors=”#5cd822|#5cd822″ gradient_hover_colors=”#187d96|#187d96″ accent_color=”#ffffff” accent_hover_color=”#ffffff” bevel_color=”” border_width=”1px” shadow=”” icon=”” icon_position=”left” icon_divider=”no” modal=”” animation_type=”0″ animation_direction=”left” animation_speed=”1″ alignment=”” class=”” id=””]Exchange Now[/button][/one_fourth][/fullwidth][fullwidth backgroundcolor=”” backgroundimage=”” backgroundrepeat=”no-repeat” backgroundposition=”left top” backgroundattachment=”scroll” video_webm=”” video_mp4=”” video_ogv=”” video_preview_image=”” overlay_color=”” overlay_opacity=”0.5″ video_mute=”yes” video_loop=”yes” fade=”no” bordersize=”0px” bordercolor=”” borderstyle=”” paddingtop=”20px” paddingbottom=”20px” paddingleft=”0px” paddingright=”0px” menu_anchor=”” equal_height_columns=”no” hundred_percent=”no” class=”” id=””][separator style_type=”single” top_margin=”” bottom_margin=”20″ sep_color=”#f4f4f4″ icon=”” width=”” class=”” id=””][one_fourth last=”no” spacing=”yes” background_color=”” background_image=”” background_repeat=”no-repeat” background_position=”left top” border_size=”0px” border_color=”” border_style=”” padding=”” class=”” id=””][imageframe lightbox=”no” style_type=”none” bordercolor=”” bordersize=”0px” borderradius=”0″ stylecolor=”” align=”none” link=”https://transferwise.com” linktarget=”_self” animation_type=”0″ animation_direction=”down” animation_speed=”0.1″ class=”” id=””] Currency Exchange[/imageframe][/one_fourth][one_half last=”no” spacing=”yes” background_color=”” background_image=”” background_repeat=”no-repeat” background_position=”left top” border_size=”0px” border_color=”” border_style=”” padding=”” class=”” id=””][fusion_text]Transferwise is straightforward & easy to use.[/fusion_text][/one_half][one_fourth last=”yes” spacing=”yes” background_color=”” background_image=”” background_repeat=”no-repeat” background_position=”left top” border_size=”0px” border_color=”” border_style=”” padding=”” class=”” id=””][button link=”https://transferwise.com” color=”custom” size=”” type=”” shape=”” target=”_self” title=”Currency Exchange” gradient_colors=”#5cd822|#5cd822″ gradient_hover_colors=”#187d96|#187d96″ accent_color=”#ffffff” accent_hover_color=”#ffffff” bevel_color=”” border_width=”1px” shadow=”” icon=”” icon_position=”left” icon_divider=”no” modal=”” animation_type=”0″ animation_direction=”left” animation_speed=”1″ alignment=”” class=”” id=””]Exchange Now[/button][/one_fourth][/fullwidth][fullwidth backgroundcolor=”” backgroundimage=”” backgroundrepeat=”no-repeat” backgroundposition=”left top” backgroundattachment=”scroll” video_webm=”” video_mp4=”” video_ogv=”” video_preview_image=”” overlay_color=”” overlay_opacity=”0.5″ video_mute=”yes” video_loop=”yes” fade=”no” bordersize=”0px” bordercolor=”” borderstyle=”” paddingtop=”20px” paddingbottom=”20px” paddingleft=”0px” paddingright=”0px” menu_anchor=”” equal_height_columns=”no” hundred_percent=”no” class=”” id=””][separator style_type=”single” top_margin=”20″ bottom_margin=”20″ sep_color=”#f4f4f4″ icon=”” width=”” class=”” id=””][one_fourth last=”no” spacing=”yes” background_color=”” background_image=”” background_repeat=”no-repeat” background_position=”left top” border_size=”0px” border_color=”” border_style=”” padding=”” class=”” id=””][imageframe lightbox=”no” style_type=”none” bordercolor=”” bordersize=”0px” borderradius=”0″ stylecolor=”” align=”none” link=”https://www.currencytransfer.com” linktarget=”_self” animation_type=”0″ animation_direction=”down” animation_speed=”0.1″ class=”” id=””] CurrencyTransfer[/imageframe][/one_fourth][one_half last=”no” spacing=”yes” background_color=”” background_image=”” background_repeat=”no-repeat” background_position=”left top” border_size=”0px” border_color=”” border_style=”” padding=”” class=”” id=””][fusion_text]CurrencyTransfer provides a platform where foreign exchange companies compete in a live, transparent marketplace to win your business. By ditching the banks, save up to 85% on your international payments. Their reliable and independent comparison platform let’s you compare live quotes from top tier, FCA authorized and regulated currency specialists. 100% price transparency and display the ‘real’ mid market exchange rate and you’re quoted exchange rate side by side.[/fusion_text][/one_half][one_fourth last=”yes” spacing=”yes” background_color=”” background_image=”” background_repeat=”no-repeat” background_position=”left top” border_size=”0px” border_color=”” border_style=”” padding=”” class=”” id=””][button link=”https://www.currencytransfer.com/” color=”custom” size=”” type=”” shape=”” target=”_self” title=”Currency Exchange” gradient_colors=”#5cd822|#5cd822″ gradient_hover_colors=”#187d96|#187d96″ accent_color=”#ffffff” accent_hover_color=”#ffffff” bevel_color=”” border_width=”1px” shadow=”” icon=”” icon_position=”left” icon_divider=”no” modal=”” animation_type=”0″ animation_direction=”left” animation_speed=”1″ alignment=”” class=”” id=””]Transfer Now[/button][/one_fourth][/fullwidth][fullwidth backgroundcolor=”” backgroundimage=”” backgroundrepeat=”no-repeat” backgroundposition=”left top” backgroundattachment=”scroll” video_webm=”” video_mp4=”” video_ogv=”” video_preview_image=”” overlay_color=”” overlay_opacity=”0.5″ video_mute=”yes” video_loop=”yes” fade=”no” bordersize=”0px” bordercolor=”” borderstyle=”” paddingtop=”20px” paddingbottom=”20px” paddingleft=”0px” paddingright=”0px” menu_anchor=”” equal_height_columns=”no” hundred_percent=”no” class=”” id=””][separator style_type=”single” top_margin=”20″ bottom_margin=”20″ sep_color=”#f4f4f4″ icon=”” width=”” class=”” id=””][one_fourth last=”no” spacing=”yes” background_color=”” background_image=”” background_repeat=”no-repeat” background_position=”left top” border_size=”0px” border_color=”” border_style=”” padding=”” class=”” id=””][imageframe lightbox=”no” style_type=”none” bordercolor=”” bordersize=”0px” borderradius=”0″ stylecolor=”” align=”none” link=”” linktarget=”_self” animation_type=”0″ animation_direction=”down” animation_speed=”0.1″ class=”” id=””] World Remit[/imageframe][/one_fourth][one_half last=”no” spacing=”yes” background_color=”” background_image=”” background_repeat=”no-repeat” background_position=”left top” border_size=”0px” border_color=”” border_style=”” padding=”” class=”” id=””][fusion_text]WorldRemit is an online service that lets people send money to friends and family living abroad, using a computer, smartphone or tablet. It is a convenient, low-cost alternative to traditional money transfer companies that use high street agents and charge unreasonable fees. Money can be received as a bank deposit, cash pick-up, Mobile Money, or mobile airtime top-up. WorldRemit’s service is available to senders in 50 countries. We offer transfers to more than 120 destinations across Europe, Asia, Africa, Australia and the Americas.[/fusion_text][/one_half][one_fourth last=”yes” spacing=”yes” background_color=”” background_image=”” background_repeat=”no-repeat” background_position=”left top” border_size=”0px” border_color=”” border_style=”” padding=”” class=”” id=””][button link=”https://www.worldremit.com/” color=”custom” size=”” type=”” shape=”” target=”_self” title=”Currency Exchange” gradient_colors=”#5cd822|#5cd822″ gradient_hover_colors=”#187d96|#187d96″ accent_color=”#ffffff” accent_hover_color=”#ffffff” bevel_color=”” border_width=”1px” shadow=”” icon=”” icon_position=”left” icon_divider=”no” modal=”” animation_type=”0″ animation_direction=”left” animation_speed=”1″ alignment=”” class=”” id=””]Transfer Now[/button][/one_fourth][/fullwidth][fullwidth backgroundcolor=”” backgroundimage=”” backgroundrepeat=”no-repeat” backgroundposition=”left top” backgroundattachment=”scroll” video_webm=”” video_mp4=”” video_ogv=”” video_preview_image=”” overlay_color=”” overlay_opacity=”0.5″ video_mute=”yes” video_loop=”yes” fade=”no” bordersize=”0px” bordercolor=”” borderstyle=”” paddingtop=”20px” paddingbottom=”20px” paddingleft=”0px” paddingright=”0px” menu_anchor=”” equal_height_columns=”no” hundred_percent=”no” class=”” id=””][separator style_type=”single” top_margin=”20″ bottom_margin=”20″ sep_color=”#f4f4f4″ icon=”” width=”” class=”” id=””][one_fourth last=”no” spacing=”yes” background_color=”” background_image=”” background_repeat=”no-repeat” background_position=”left top” border_size=”0px” border_color=”” border_style=”” padding=”” class=”” id=””][imageframe lightbox=”no” style_type=”none” bordercolor=”” bordersize=”0px” borderradius=”0″ stylecolor=”” align=”none” link=”” linktarget=”_self” animation_type=”0″ animation_direction=”down” animation_speed=”0.1″ class=”” id=””] Azimo[/imageframe][/one_fourth][one_half last=”no” spacing=”yes” background_color=”” background_image=”” background_repeat=”no-repeat” background_position=”left top” border_size=”0px” border_color=”” border_style=”” padding=”” class=”” id=””][fusion_text]Azimo is a low-cost, fast and safe way to send money around the world. With several services including cash pick-up, bank transfer, mobile airtime top-up and mobile wallet, you can send money to more than 195 countries in just a few clicks.[/fusion_text][/one_half][one_fourth last=”yes” spacing=”yes” background_color=”” background_image=”” background_repeat=”no-repeat” background_position=”left top” border_size=”0px” border_color=”” border_style=”” padding=”” class=”” id=””][button link=”https://azimo.com/en/” color=”custom” size=”” type=”” shape=”” target=”_self” title=”Currency Exchange” gradient_colors=”#5cd822|#5cd822″ gradient_hover_colors=”#187d96|#187d96″ accent_color=”#ffffff” accent_hover_color=”#ffffff” bevel_color=”” border_width=”1px” shadow=”” icon=”” icon_position=”left” icon_divider=”no” modal=”” animation_type=”0″ animation_direction=”left” animation_speed=”1″ alignment=”” class=”” id=””]Transfer Now[/button][/one_fourth][/fullwidth][fullwidth backgroundcolor=”#f4f4f4″ backgroundimage=”” backgroundrepeat=”no-repeat” backgroundposition=”left top” backgroundattachment=”scroll” video_webm=”” video_mp4=”” video_ogv=”” video_preview_image=”” overlay_color=”” overlay_opacity=”0.5″ video_mute=”yes” video_loop=”yes” fade=”no” bordersize=”0px” bordercolor=”” borderstyle=”solid” paddingtop=”20px” paddingbottom=”20px” paddingleft=”0px” paddingright=”0px” menu_anchor=”” equal_height_columns=”no” hundred_percent=”no” class=”” id=””][fusion_text]

Currency Exchange / Money Transfer News

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