Author Topic: currencyfair.com  (Read 1491 times)

alwaysonit

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currencyfair.com
« on: July 09, 2014, 06:17:25 PM »
Is this the best way of transferring currencies (other than Norberts Gambit for USD/CAD)?
It's a peer to peer currency exchange so I assume it beats standard FX brokers such as torFX or Global Reach Partners?

daverobev

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Re: currencyfair.com
« Reply #1 on: July 10, 2014, 12:41:51 PM »
Yes.

It's more UK/EU focused - in the US and Canada you have to pay wire fees, they don't accept bill pay or cheque/check. Not sure about elsewhere.

In the UK, deposit in is free. Same for EU I believe.

For all, they charge a few of the local currency for a transfer out ($4, 3GBP, etc). Still much cheaper than the normal places.

For day to day, it's probably cheaper using a foreign-exchange-fee free card in the currency you have the money to spend. Obviously this doesn't work for all things, but it might for some.