No Cheaper than the banks
Fortunately I only transferred a small cash amount to my Bank in South Africa. But when I compare the costs of doing via the bank SWIFT process or CurrencyFair, I am afraid to say that CurrencyFair works out more expensive. On your converter you claim that if I were to transfer 500 Emirati Dirhams (AED) the receipent (my bank in South Africa) will receive *R400.53 more than the banks would offer through a normal SWIFT process transfer. Well, NOT TRUE. Just last month I transferred 3800 AED to South Africa via the normal banking Forex and my charges were just over R370.00 South African Rands. In this case, I have transferred 500 AED and the charges from the bank is 105.00 AED which is currently R400.00. I am still being charged R25.00 for your service fee and the receipient bank will still take their commission too. So it way exceeds the normal banking process fees. Sorry, but not worth the trouble to use your services. A Rip Off!