CurrencyFair Money Transfer

You can’t put market order to wait for a better rate anymore. They ask you to transfer immediately

Transfer didn’t arrive and customer service have ignored several requests to locate the funds

They ask for very personal and important documents just to tell you they want even MORE information and want you to answer a list of questions when any other app doesnt ask for anything even close to the documents currencyfair asks for. Very shady, i put in everything they asked for yet they say I’m still under review after like a week, this app was a waste of my time and I shouldnt have shared personal documents to a shady app like this

DO NOT TRUST THIS COMPANY. I added $36,000.00 dollars to my verified account (it was new), converted it to PHP Philippine Pesos then Added a contact in the Philippines. This money was earnest money for a condo I was purchasing in Manila. I sent the money but then got an error and when I tried to relog back in, it tells me to contact support. I received an email stating " Thank you for sending money via CurrencyFair. As a result of our obligations to comply with Anti Money Laundering regulations, we need a little more information on your transfer of 1,950,000.00 PHP to (person sending to) before we can process your funds further. Can you please: Confirm the purpose of the transaction. Confirm your relationship with the person receiving your funds. Supply documentation for your transfer out e.g. invoice, house purchase documents etc." I send then back a Letter of intent to purchase the condo showing all the details of the deal. No signed contact yet as that does not get signed till closing and the final money is transferred. 3 days later I get the reply" Thanks for your reply and provided. Per reviewing provided proof and also considering your responses, we would still require the below information to be able to complete our review: The provided proof for the purchased property does not show your detail as buyer and neither do the order of payment. As such, Would you please be able to provide the official and signed copy of the contract / agreement for the purchased property where we could see your detail and the value of the property along with the order of payment which could be either listed in the agreement or through a separate statement issued by your solicitor/lawyer? Would you please be able to confirm the original source of funds (SOF) deposited into your CF account and provide any supporting documentation in relation to stated SOF (e.g., recent pay slip or employment contract with details of compensation for salary payments, Lease contract/agreement for rental incomes, Share certificate for stock investments, Sale agreement for proceeds of property sale, etc.)? Would you please be able to provide a most updated and fully downloaded bank statement of depositing account showing the transactions history where we can see the stated SOF (Source of Fund) credited and then deposited out to your CF account? Please ensure that it would show complete account details i.e., account number, accountholder's name, transaction history, and the recent transfer

iPhone app crashes when I try to setup exchange with choose mg own rate. Doesn’t let me use website either

When will you offer more currencies like Taiwan Dollar and Chinese Yuan?

The company requires the customer to provide very sensitive information far above and beyond what is governed by any money laundering act. Of course, all of that happens after they collected your money. And the worst, they threaten you to provide information with freezing your fonds. I recommend to think twice before choosing these company.

Poor service cost me 3% of my transfer. Don’t expect your transfer to take place expeditiously. After making my deposit into the relevant Currencyfair bank account, the app displayed a message saying my beneficiary would be paid automatically as soon as Currencyfair had checked my Identity. This didn’t really make sense to me as I had made previous transactions with them and gone through that process. Their website said identity checks take 24 hours so I waited patiently. A week later, the beneficiary had still not been paid and the app still displayed the same message that they had to check my Identity before the beneficiary would be automatically paid - so I enquired with support on their website via email. They replied asking me to respond to an email they had sent me previously asking about a different email address I had used in the past. After that, the app no longer displayed the message, but they cancelled the payment to the beneficiary because the exchange rate had deteriorated since I initiated the payment instruction. If the app message was accurate, I would have reached out to support sooner - rather than wait for them to check my Identity as indicated in the message. As a result, the exchange rate dropped by 3% and I incurred this substantial loss. If I was dealing with a real bank I would have either received an email indicating why my payment was on hold - or received a phone call. Instead Currencyfair were happy to just sit with my funds in their account and do nothing to get the payment processed. Extremely poor service. I don’t trust Currencyfair anymore and won’t be using it again.

I had to send them driver license and bills, thank I had to talk to them on the phone, then they have asked for passport and bank statements, are you nuts?

They can deny your account if you decide to travel to countries not on their list of supported countries. Be extreamly careful. Not sure how Apple allows this. I will be reporting this app to the Apple store!