A solid choice, CurrencyFair provides affordable prices and a straightforward, simple procedure. They give the choice to transmit now or later and are one of the handfuls of businesses to do so to give the consumer power over their fund transaction. Continue reading to find out more about the app’s various payment methods.
How can the money be sent via CurrencyFair?
By using this platform, cash transfers are quick and uncomplicated. Its homepage and mobile app have straightforward terminology and a user-friendly style, enabling the registration and transfer processes less difficult. What to do is as follows:
- Create a profile
You must register for a profile to send payments via the platform. You just need to open the app and select whether you want to establish a Private or Corporate account to get started.
- Select a method for sending money.
There are two ways to transfer your funds using the app:
- Send payment right away at the most competitive rate.
- Get an upgrade utilizing their peer-to-peer network to transmit money afterward at a good rate.
Peer-to-peer
The peer-to-peer solution, which is exclusive to CurrencyFair, gives its users more power. Two paths are provided, giving the client the option of a period or greater deal. You choose the exchange value you intend to use for your fund transmission. If CurrencyFair finds a client looking to move money the opposite way, they can approve your rate, from which you will both profit.
The peer-to-peer system is a reasonable method to obtain more value for your money if you’re not in a hurry and want to transmit money as affordably as possible. Keep in mind that this isn’t always a given and depends on anyone approving your rate and attempting to transfer money in the other direction.
You can begin setting up your account on the following page. You’ll enter the email you want to be connected to the profile and set a strong passcode that you’ll use going forward to log in. Make a unique password that you only use for this website. When sending cash across foreign borders, security is crucial.
- Providing information
After deciding on your preferred method of transmission, it will ask you for more details to better tailor its solutions to your needs. First, you will have to give some further confidential info. Your name, residence, profession, and total yearly salary are included here. After that, you will be prompted for more information about how you intend to use CurrencyFair. Trade amount, objectives, and currency are among the options.
- Giving bank account details and trade specifics
You must provide transaction information to process your payment. For instance, the amount you want to give or the amount you want the client to get. You may also check the charge and exchange rate that will be used for your transaction on this tab.
- Upload the necessary records for confirmation
To completely establish your account and adhere to anti-money trafficking requirements, CurrencyFair has structured its account activation approach to collect all the data from you throughout that process. You’ll need to upload your passport and confirmation of residence. It reserves the right to request further proof if they are unable to accept electronic documents.
- Once authorized, transfer funds to your account.
You must finish the final step to deposit your funds from your checking account to your CurrencyFair wallet after entering all the necessary information. The exchange rate and charge that you have consented to will then be immediately applied and given to your beneficiary. After that, your transaction will be finished in 2-5 working days
