CurrencyFair vs TransferWise

Is CurrencyFair better than TransferWise?

TransferWise was established 2 years after CurrencyFair and appears to be heavily inspired by the CurrencyFair model. Although the two services fit and perform equally for smaller transfer amounts, the larger the amount of money you transfer — the more CurrencyFair is taking the lead, thanks to only charging a fixed small fee. Transferwise charges a percentage of your transfer, meaning larger transfers attract significantly higher fees. CurrencyFair also allows you to transfer an unlimited amount, while TransferWise limits your transfer to $200K.

Established
Established
2009
2011
TrustPilot Rating
TrustPilot Rating
Office Locations
Office Locations
Ireland, Australia, UK
UK, USA, Australia, UAE, Ukraine +
REGULATION
ASIC (Australia)
ASIC (Australia)
FCA (UK)
FCA (UK)
CBI (Ireland)
CBI (Ireland)
Other
Other
-
FinCen
SAFTEY
Two-factor payment authentication
Two-factor payment authentication
Information stored in a secure data center
Information stored in a secure data center
Segregated customer accounts
Segregated customer accounts
256-bit website encryption via SSL from VeriSign
256-bit website encryption via SSL from VeriSign
FEES & CHARGES
Transaction Fee
Transaction Fee
Fixed €3 fee
% of the transfer amount + a fixed fee
Exchange Rate
Exchange Rate
Mid-market
Mid-market
Other Fees
Other Fees
-
-
Minimum Transfer Amount
Minimum Transfer Amount
€/£/$8
€/£/$1
Maximum Transfer Amount
Maximum Transfer Amount
Unlimited
$200K
SENDING & RECEIVING OPTIONS
Scheduled & Recurring Payments
Scheduled & Recurring Payments
Delivery Speed
Delivery Speed
0 - 2 Days
1 - 2 Days
Countries
Countries
160
89
Currencies
Currencies
20+
18+
CUSTOMER SUPPORT
Phone Assistance
Phone Assistance
Email
Email
BUSINESS TRANSFER FEATURES
Bulk/Mass Payments
Bulk/Mass Payments
FX Hedging
FX Hedging
Risk Management
Risk Management
TRANSFER METHODS
Bank Transfer
Bank Transfer
Credit/Debit Card
Credit/Debit Card
Cash
Cash
Cheque
Cheque
ONBOARDING SIMPLICITY
Onboarding Time
Onboarding Time
Within minutes
Within minutes
eKYC
eKYC
Ease of Use
Ease of Use
Easy
Easy
CURRENCY EXCHANGE FEATURES
Real-time Marketplace for User-Defined FX Rates (bids)
Real-time Marketplace for User-Defined FX Rates (bids)
Limit Orders
Limit Orders
Forward contracts
Forward contracts
SAVINGS FEATURES
Free multi-currency wallet
Free multi-currency wallet
Choose your own rate
Choose your own rate
Rate alerts
Rate alerts
UNIQUE FEATURES
Peer-To-Peer Direct Transfers
Peer-To-Peer Direct Transfers
“Express Transfers” within 1 day
“Express Transfers” within 1 day
Zero Fees on Transfers
Zero Fees on Transfers
On first 10 transfers
MOBILE TRANSFERS
Full Featured App
Full Featured App
Mobile Adaptive Website
Mobile Adaptive Website
App UX
App UX