If you want to transfer funds overseas through CurrencyFair or WorldRemit and cannot make your mind up, you are not alone. Both companies offer better deals when compared to most of the big banks. Additionally, users of both companies rate their services well.
If you look at the WorldRemit vs. CurrencyFair comparison through scores on Trustpilot, you will see that service levels of both companies are similar. While WorldRemit averages at 9.5 out of 10, CurrencyFair gets 9.6 out of 10.
Having checked the services of both companies in great detail, to me the CurrencyFair Vs WorldRemit comparison does not yield a clear result. I have divided this section into different categories, so you can make a decision based on your individual requirements:
- Exchange Rates
- Ease of Use
- Regular Overseas Payments
International Currency Transfer Fees
Whether you choose CurrencyFair or WorldRemit, you can expect to pay lower fees in comparison to what most banks charge. You don’t have to worry about paying any hidden fees with either of these companies.
- The fee you pay depends on whether or not your transfer finds a match.
- If you transfer finds a match, you pay CurrencyFair €3 plus 0.15% of the transferred amount.
- If there is no match at the recipient’s end, CurrencyFair charges €3 plus 0.4% to 0.5% of the transferred amount.
- CurrencyFair charges approximately 0.35% of the transfer amount as fees.
- With WorldRemit, the mode of transfer can have a bearing on the fees the company charges.
- You will be apprised of the fees you have to pay before you finalize your transfer.
Ease of Use
This section of the World Remit vs. CurrencyFair comparison focuses on aspects such as payment options, transfer methods, and website access in foreign languages. To sign up with either of these companies, you have to submit an online application. Then, simply wait until the verification of your details is complete and login to your account.
- You can access the CurrencyFair website in English, French, and Polish.
- CurrencyFair accepts payments via electronic bank transfers from its international customers.
- If you are a resident of Ireland, you can use an Irish bank issued debit card to make payments in Euros.
- The company provides apps for devices that run on iOS and Android.
- Access to the WorldRemit website comes in English, Spanish, and French.
- WorldRemit accepts payments via electronic bank transfers, debit cards, and credit cards.
- Depending on where you live, you can also pay via POLi, SOFORT, iDeal, and Interac.
- Transfer methods vary according to the destination country. The options include bank deposits, cash pickup, mobile money, mobile airtime top-off, and home delivery.
- The company provides apps for iOS and Android.
Regular Overseas Payments
If your decision to go with WorldRemit or CurrencyFair is based upon this factor, the former is largely out of the race. While you can set up regular transfers through CurrencyFair according to your individuals needs, WorldRemit has not started offering this functionality yet. However, if you wish to make repeated transfers through WorldRemit, you can use details from previous transfers to save time.
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