Whilst they may not be one of the biggest names in the money transfer business, Fairfx has an absolutely fantastic reputation amongst those who have had the privilege of using their services. On this page, we are going to take a little look at the services that Fairfx offers, as well as a brief discussion as to how these services stack up against other similar companies out there.
Through Fairfx, you can transfer anywhere between £600 and £250,000. This, obviously, means that you are not going to want to use it for the smaller payments that you need to make i.e. if you are going to be sending a nominal amount then you may wish to use another money transfer company. That being said, for most people and businesses at least, the money range that can be transferred is fairly decent. If you are sending more than £250,000 then you should most likely be using another provider anyway.
At the moment the Fairfx system will only allow you to make transactions in a few currencies online. That being said, the company is fairly helpful. If you do not wish to make a money transfer in one of the following transactions then they will be more than happy to make a bespoke transfer for you and they will do their best to ensure that it is at a competitive exchange rate too! Currencies currently supported online include:
- Japanese Yen - Swiss Franc - Indian Rupee - Canadian Dollar - New Zealand Dollar - US Dollar - Euro - Czech Koruna - South African Rand - Polish Zloty - Australian Dollar
As a side note; at the moment, you will only be able to carry out transactions in your home currency i.e. if you are based in the United Kingdom then you will only be able to carry out a money transfer in pounds. This is, obviously, a little bit of a problem if you have money in another currency that you are looking to get sent back to yourself, but it is going to be a situation that most people can live with as the likelihood of this happening is very rare.
The exchange rate that Fairfx has in place is actually incredibly competitive. It is no more than a few % off the ‘base exchange rate’ which is actually fairly surprising as these are fairly low amount transactions (you will obviously never get the base exchange rate unless you are sending millions at a time). This is something which has given me immense amounts of respect for Fairfx. There are no commissions or hidden charges to pay either, which makes the company fairly affordable to deal with.
If you are making regular transactions, you will be pleased to know that you can opt for a personal account manager who can help you schedule transactions a year in advance, place limit orders so you only make transfers when the exchange rate is at a predetermined level, and even get regular advice on how the currency markets are acting.
Whether you are a business or a personal customer, using Fairfx is going to be absolutely brilliant for you.
Fairpay Money Transfer Review
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