CurrencyFair is one of the hottest and largest peer to peer money transfer companies. The business was started with the goal to level the playing field and bring the same low rates that banks and market professionals are receiving, democratised down to the ordinary people and businesses. With a team of around 50 employees they dedicate their mission to making sure people around the world can transfer money more cheaply.
CurrencyFair is regulated and fully authorised by the Central Bank of Ireland under the European Communities Regulations. Customers include: overseas property owners, expats, businesses and travellers. Through CurrencyFair’s matching system clients end up paying anywhere from nothing (yes, you can get better than mid-market) to 0.5%, plus a fixed €3 transfer fee. CurrencyFair reports that customers pay around on average around 0.35% of the amount being transferred, however as more and more people use the platform, this rate will decrease. In short, this is certainly one of the cheapest money transfer companies around.