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CurrencyFair Referral Increased to €50 until End of Year (Min €2000 Transfer)

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CurrencyFair Referral Increased to €50 until End of Year (Min €2000 Transfer)
Go to Deal
evilplan on 09/11/2020 - 14:55 currencyfair.com (55 clicks)

CurrencyFair have increased their referral bonus from €30 to €50 for the remainder of this year (for both the referrer and referred). CurrencyFair it is a money transfer / foreign exchange service, so if you don't need to convert any money between currencies then this is probably isn't for you.

Only new customers are eligible.

To quality:

  • Sign up using a referral code or link (the 'Go to Deal' button on this page only takes you to the refer a friend FAQs, referral links are in the grey box below this post).
  • You will need to activate your account by verifying your identity and address in order to complete a trade (AML/CFT requirement).
  • Complete a single currency exchange of minimum €2,000, or the equivalent in the depositing currency (approximately NZ$3500).
  • Withdraw the transferred amount. Please note that the referral rewards will not be credited to your account until after the withdrawal has been made so this must be completed by 23:59 on 31 December 2020 (UTC/GMT) to get €50 instead of €30.

Additional info:

  • CurrencyFair markets are closed from 20:00pm Friday until 22:30pm Sunday (UTC/GMT), which is 9:00am Saturday until 11:30am Monday (NZDT).
  • Withdrawals to NZ bank accounts are not very fast (can take 1-3 days), so if you are in a rush I recommend using TransferWise instead.

Referral Links

Referral: random (1)

Both referrer and referred will receive €50.

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closed Comments

  • Dinesh on 09/11/2020 - 16:48
    +3

    is currency fair cheaper than transferwise?

    • evilplan on 09/11/2020 - 17:22
      +1

      Their rates are about the same from my experience, although TransferWise is more transparent about their fees showing them separately instead of baking them into the spread.

      CurrencyFair allows you to set your desired rate and wait until it is matched which can be useful if you aren't in a rush and want a better rate without continuously checking for rate changes (not supported in the mobile app last time I checked).

      TransferWise have a lower NZD withdrawal fee of NZ$0.99 vs NZ$5.00 with CurrencyFair, which could be significant if you are doing lots of little transfers. As alluded to above TransferWise also have a much faster withdrawal to NZ bank accounts, typically within a few hours if only a few thousand dollars or next day for larger amounts.

      I prefer TransferWise's browser and app interfaces however use both services depending on how much I'm transferring and how quickly I need it.

      • CheapAzChips on 09/11/2020 - 17:54
        +1

        Can confirm all the above, and I'll also add that CurrencyFair make it difficult to transfer NZD into their account. Used to be easy but I think they had to pull their domestically hosted NZD account and last I checked you had to transfer NZD into their offshore account using SWIFT code etc. I actually prefer CurrencyFair to TransferWise (still use it for transfers coming back here), but this one thing put me off using it to send money overseas, it's just too painful.

      • MrSomeone on 09/11/2020 - 22:43

        Sounds like transferwise is the way to go. I've been using them a lot recently and had a flawless experience. Makes PayPal look like a bad joke.

  • DrSS on 09/11/2020 - 21:00

    Any recommendations for sending a large amount of money for relocation to Australia?

    • Surreal on 10/11/2020 - 08:53
      +1

      xe.com, email or get on the phone to their nz crew, ask for a better deal than currencyfair/transferwise

    • evilplan on 10/11/2020 - 10:21
      +2

      TransferWise if you want to transfer it quickly without any messing around.

      CurrencyFair if you would like to set the rate you want and wait for the market to meet it (depending how much you have to transfer, even 0.5% on $100,000 is $500).

      OrbitRemit (NZ based company) if you would rather use a more conventional money transfer/remittance service. Their spot rates almost as good as TransferWise and CurrencyFair.

      XE's (Canada based) rates sit about halfway between TransferWise/CurrencyFair and PayPal, I just checked and you would get about AU$100 less for every NZ$10,000 transferred (compared to TW/CF). There is no harm in giving them a email/call to see what they can do if you feel like it though.

      It may also be worth considering whether you want to transfer all your money immediately and whether you have any expectations for what the NZD/AUD exchange rate will do in the future. Regardless of what you decide, don't leave large sums of money in non-bank holding accounts for extended periods or time.

    • DrSS on 10/11/2020 - 11:42

      Thanks both :)

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