CurrencyFair has recently introduced ‘regular overseas payments’ within their online money transfer system. You’ll find the new option under the “My Orders” menu option. CurrencyFair calls this option ‘Recurring Transactions’. On a desktop browser, this can be found on the left side. You may not be able to find it when the CurrencyFair App Responsive theme is enabled (accurate at the time of writing).
Reasons to Use Recurring Transactions
Setting up regular overseas payments is perfect if you are a business and need to pay your trusted freelancers or suppliers without having to use costly Visa, Mastercard, or PayPal currency conversion and transaction fees. Another great use of this feature is to automatically send money overseas home to pay your mortgage. Brilliant. It no longer becomes a monthly chore.
How to Set it Up
Setting up regular overseas payments using CurrencyFair’s Recurring Transactions facility couldn’t be easier. True to form, CurrencyFair’s wizard driven user interface makes it simple and intuitive. Click on the Recurring Transactions option and you will find a simple explanation of the steps that their wizard will take you through. Click ‘Get Started’ Button to begin. Fill out the information requested, Review and Confirm the Recurring Transactions set-up. The last step is the bank details – to send money from your source bank account to CurrencyFair. This is usually the CurrencyFair’s local country bank account details.
- Make sure you have set up the source and destination bank accounts within CurrencyFair’s system.
- Don’t forget to set-up a standing order from your source bank account so that you transfer money to CurrencyFair’s local country bank account on a regular basis or as often as needed.
- Learn more about CurrencyFair fees by downloading the FREE PDF on the right side called “How to Send Money Abroad Safely, Securely and for a Low Cost”.
- Check out the full CurrencyFair Review.
- Signing up to CurrencyFair? Why not check out the CurrencyFair Promo Code that gets you free transfers.
Feel free to leave a comment below…