Today, online money transfer services are no longer a luxury but an essential part of our everyday life. With the rise of e-commerce, sending and receiving money online has become a norm for both individuals and businesses. The good news is that there are countless money transfer service providers available on the internet. These global online money transfer services have become a convenient and safe way for people to send or receive money across the world. The process is straightforward, transparent, and executed in no time.
So, are you looking for Peer-to-Peer (P2P) money transfer service providers online? If you're, then CurrencyFair.com will help. And before you use its services, you should check out its company profile here on LuminaBlog to discover its products and the services it offers.
CurrencyFair is a P2P (Peer to Peer) online marketplace that allows individuals and businesses to exchange currencies and transfer money online at bank-beating rates. Although CurrencyFair was established in 2009, it went live in May 2010. The co-founders of CurrencyFair.com are Brett Meyers, Sean Barrett, David Christian, and Jonathan Potter. The company has its offices in Ireland, United Kingdom, Singapore, Hong Kong, and Australia.
In 2015, the company launched its currency exchange mobile app available on both Android and iOS devices, which they claim can be used to cancel or amend a transaction anytime in case it was unmatched. The company supports 22 currencies for international exchanges and transfers in over 150 countries around the world. They also claim to be fully licensed and regulated by the Central Bank of Ireland with a 10-year track record of best-in-class service for quick and low-cost exchange rates.
Since its inception, CurrencyFair has received numerous awards, including the IIA Dot IE Net Visionary Awards for "Most Insightful and Intriguing Internet Innovation," Best of Show award at the FinovateAsia inaugural conference held in Singapore, among others. The company also claims to have secured financing from world-class investors such as Frontline Ventures and Octopus Investments.
CurrencyFair Products and Services
CurrencyFair provides P2P money transfer services between individuals and businesses worldwide in a simple, straightforward 3-step process. Unlike other international money transfer providers, CurrencyFair claims to allow as low as $8 transfer with no maximum amount. The company provides segregated client accounts separate from its accounts where client funds are never merged with CurrencyFair's own money. They also claim that all exchanges are anonymous - only the customer deals with the company.
Transfer Timeframe & Cancellation Options
CurrencyFair.com claims to be a transfer time option where its customers can transfer funds within 1-2 business days, depending on the currency they're transferring. While Euro transfer can go up to 2 days, GBP transfers happen the same day. Less common currency transfers can take up to 5 days. When initiating the transfer, CurrencyFair ensures to give its users an estimated arrival time.
At CurrencyFair, users selling currencies are allowed to choose their own rate and interbank bypass fees. The company also allows its customers to cancel or amend a transaction if it's yet to be picked. To do this, click on the Transaction Overview icon on your account dashboard and proceed to cancel in the transaction tab. However, once the transaction has been matched, you cannot cancel it. CurrencyFair also claims to have consistently invested in its customer staff. Thus, if you have an inquiry or complaints, their support staff will respond to your query within 24 hours.