currencyfair charges a small flat fee €3 (euros) or equivalent, regardless of amount and currencies.
The foreign exchange rate you pay can vary considerably, since you and your matching customer might agree on a price other than the “best available” rate. In case you cannot find a good match in a certain time, you are able to convert your money immediately on the market place to get the best possible rate, which is only 0.35% to 0.6% above the mid-market rate.
The money then generally takes 1-2 working days to be received, but potentially up to 4 or 5 days in certain circumstances. Be aware of allowing for time sending money to currencyfair. Sometimes it will take several days to arrive, as they only accept bank transfer.
currencyfair features an online calculator on their homepage, allowing customers to determine how much recipients can get. Like some of their competitors such as TransferWise, currencyfair is another provider, aiming to offer transparent exchange rates to their clients. However, the help and support center is not so convenient. You can only reach them by email, and get a response within 24 hours. There is no telephone support.
But currencyfair has a friendly mobile app available both on Android and iOS. Sign up is simple either with an email, or a Facebook account.
In short, if you’re looking for a simple and low cost way to transfer your money, you should seriously consider currencyfair.