CurrencyFair is a low-cost way to do international money transfers. I first wrote about it when researching how to transfer money to European P2P lending sites. CurrencyFair charge a fee of €3/£2.50 to transfer out money, is generally free to transfer in money, and a 0.25% or 0.3% fee on the currency exchange itself.
CurrencyFair claim that around 10% of their transfers actually beat the interbank rate. This is because the matching is done internally on a peer to peer basis. Here are a couple of tips to help you get the best possible exchange rate when using CurrencyFair with an example I did earlier today. Read more “How to Get a Better Exchange Rate on CurrencyFair”