Are you wondering if you should use CurrencyFair or Revolut for your next overseas money transfer? Start by understanding that both companies provide dependable services. However, while someone might benefit more by using CurrencyFair, someone else might favor the services of Revolut. This is mainly because individual requirements tend to vary.
An easy way to determine where the Revolut vs. CurrencyFair comparison stands in the real world is to turn to Trustpilot, a review-based website. On this platform, while Revolut averages at 7.7 out of 10, CurrencyFair gets an average score of 9.6 out of 10. This aspect, though, is not enough to arrive at a conclusive decision.
Side By Side
|Ireland-based, offices also in the UK and Australia||UK-based, offices in the U.S., Russia, Poland, Singapore, and other countries|
|No monthly fees||Monthly fees depend on the type of account you select (basic fee-free account available)|
|Supports transfers in most currencies||Processes transfers in most currencies|
|No multi-currency account||Bank account details in GBP and EUR|
|Serves individuals and businesses||Serves individuals and businesses|
|Lets you schedule transfers||Lets you schedule transfers|
Whether you should turn to Revolut or CurrencyFair requires that you pay attention to various factors that include:
- Exchange Rates
- Multi-Currency Bank Accounts
- Debit/Travel Cards
- Supported Countries
- Ease of use
- Regular overseas payments
Compare Money Transfer Fees
This section of the Revolut vs. CurrencyFair comparison tilts slightly in favor of the former, especially if you do not plan to transfer too much money.
- If you use the CurrencyFair Exchange system, whether or not your transfer finds a match has a bearing on the fee you end up paying.
- A typical CurrencyFair transfer attracts a flat fee of €3, along with around 0.4% of the transfer amount.
- You need to pay an additional cost to make an express deposit.
- You may check further details about the CurrencyFair pricing system online.
- You may transfer up to £5,000 or its equivalent in another currency each month without paying any fees.
- After you cross the monthly limit, you need to pay 0.5% of the transfer amount as fees.
- If you get premium membership, all your subsequent transfers become fee-free.
- As a standard member, you will need to pay fees for turbo transfers.
- More information about the company’s pricing structure is available online.
CurrencyFair does not provide a debit or travel card yet, whereas Revolut does. What you may expect from your Revolut account includes:
- A choice between standard, premium, and metal cards
- Account-specific fee-free ATM withdrawal limits and currency exchange fees
- Instant access to five cryptocurrencies if you opt for the premium or metal card
- An annual spending limit of £30,000 as a metal cardholder
- A 96-hour spending limit of £5,000 as a metal cardholder
- A 24-hour ATM withdrawal limit of £2,000 as a metal cardholder
Ease of Use
You may use Revolut or CurrencyFair without worrying about complex user-interfaces. Both companies keep the entire money transfer process fairly simple. However, there are some differences that need your attention.
- You can transfer money using the CurrencyFair website or its app for mobile devices.
- Website access comes in English, German, and French.
- The company serves individuals and businesses.
- You may make payments via bank account transfers.
- The company accepts express deposits in GBP, EUR, SEK, DKK, CHF, PLN, and NOK made using Visa or Mastercard debit cards.
- Australians can pay for their transfers using BPAY.
- You may pay in most major currencies and some exotic currencies.
- You need to use the Revolut app to transfer money.
- You may use the Revolut app in English, German, French, Spanish, Romanian, Lithuanian, and Polish.
- Payment methods include bank account transfers, Google Pay, Apple Pay, debit cards, and credit cards.
- If you need to send money in a hurry, you may opt for a turbo transfer.
- The company provides free receiving accounts in EUR and GBP.
- You may use your Revolut account to hold funds in up to 25 currencies.
- You get to choose from a prepaid Visa and Mastercard for easy access to funds in your account.
- The company lets you hold and trade in cryptocurrencies such as Bitcoin, Litecoin, and Ether.
Regular Overseas Payments
Both companies are at par in this section of the CurrencyFair vs. Revolut comparison, because both let their customers set up recurring transfers according to their needs.
- Consider saving money by using the CurrencyFair free transfers offer.
- When CurrencyFair and Currencies Direct go head to head.. who wins?
- Learn how to redeem the exclusive OFX voucher.