Gone are the days when people had to rely on banks to transfer funds overseas. Whether you use FC Exchange or CurrencyFair for your next international fund transfer, you will get a better deal when compared to most leading banks. If you, like many others, are wondering which of these companies is better, reading on is in your best interest.
To find out what customers of these companies have to say about their experiences, you can take the CurrencyFair vs. FC Exchange comparison to Trustpilot. Not surprisingly, both companies have received largely positive reviews on this platform. While CurrencyFair gets an average of 9.6 out of 10, FC Exchange gets 9.7 out of 10.
Both companies rate well in the customer satisfaction department, so making the right choice requires paying attention to other aspects, as well. This FC Exchange vs. CurrencyFair comparison is divided into multiple sections accordingly:
- Exchange Rates
- Ease of Use
- Regular Overseas Payments
Overseas Money Transfer Fees
Owing to the difference in fee structures of both companies, this section of the CurrencyFair vs. FC Exchange comparison does not produce a clear winner. However, when compared to most banks, both companies can lead to savings in fees.
- The fees this peer-to-peer fund transfer company charges depends on whether or not a transfer finds a match.
- If your transfer finds a match, CurrencyFair charges €3 plus 0.15% of the transfer amount.
- In the absence of a match, you will pay €3 plus 0.4% to 0.5% of the transfer amount.
- Transfers through CurrencyFair, on average, attract around 0.35% of the transferred amount in fees.
- FC Exchange notifies you of all applicable fees before you confirm your transfer.
- Factors that can have an effect on the fees include mode of payment and destination country.
- In some instances, FC Exchange cannot calculate fees charged by intermediaries in advance.
- The FC Exchange review provides additional information about the fees this company charges.
Ease of Use
Whether you pick CurrencyFair or FC Exchange, making your next overseas fund transfer will be easy. Online applications of both companies take no more than a few minutes to complete. Once the verification of your details is finalized, you can start transferring funds using the Internet.
- Access to the CurrencyFair website is provided in English, French, and Polish.
- The company provides its services to individuals and businesses.
- International customers can make payments via electronic bank transfers.
- If you live in Ireland, you can use a debit card issued by an Irish bank to make payments in Euros.
- You can use CurrencyFair apps with iOS and Android devices.
- You can use the services of FC Exchange as an individual or a business.
- Access to the global FC Exchange website is only available in English.
- FC Exchange lets you transfer funds online and over the phone. In some cases, it might accept orders via email or fax.
- Available payment options depend on where you live.
Regular Overseas Payments
If you want to set up regular overseas transfers, you can choose FC Exchange or CurrencyFair. Both companies let you set up scheduled payments easily.
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