CurrencyFair very slow

jardiniere
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CurrencyFair very slow

Post by jardiniere » Tue Dec 04, 2018 10:08 pm

I've used CurrencyFair for many years and it's always been straightforward and speedy. But this time I transferred £ which was credited to CF at 3.30 yesterday afternoon. No email to say funds have been received and when I check the site my exchange is "pending". Anyone had recent experience with them?

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Re: CurrencyFair very slow

Post by Mangetout » Tue Dec 04, 2018 10:53 pm

I don't use this sort of service but my sister does and she told me that the last time she sent money it was temporarily 'lost' because the company had changed it's account details. Don't know if this helps in any way. Good luck with sorting it out.

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Re: CurrencyFair very slow

Post by suein56 » Tue Dec 04, 2018 11:07 pm

jardiniere wrote:
Tue Dec 04, 2018 10:08 pm
I've used CurrencyFair for many years and it's always been straightforward and speedy. But this time I transferred £ which was credited to CF at 3.30 yesterday afternoon. No email to say funds have been received and when I check the site my exchange is "pending". Anyone had recent experience with them?
Yes and No to your last question .. personally I have used Transferwise for the last few years, after using CurrencyFair since 2011, but suddenly CF changed Banks and morphed into a paralytic state of non-productivity .. thereby causing a mini meltdown. At that point I jumped ship and have remained with TW ever since ;)
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Re: CurrencyFair very slow

Post by Fitter » Tue Dec 04, 2018 11:52 pm

We also used to use CF and always check their rates against Transferwise which is usually better so we use TF and they are quick with no delays.
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Re: CurrencyFair very slow

Post by Tom » Wed Dec 05, 2018 9:07 am

:?: Have your funds arrived yet, jardiniere?

Like others I switched to TW about a couple of years ago when CF became less dependable.
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Re: CurrencyFair very slow

Post by jardiniere » Wed Dec 05, 2018 1:11 pm

Thanks for your replies. No, money still not arrived, but on checking my account there is a CREDIT the same afternoon for the same amount from Bank of America. It seems they are CurrencyFair's bankers. Haven't managed to sort this out yet but very fed up. I think next time I'll move to TW but dread all the paperwork involved.

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Re: CurrencyFair very slow

Post by Tom » Wed Dec 05, 2018 2:30 pm

Haven't managed to sort this out yet but very fed up. I think next time I'll move to TW but dread all the paperwork involved.
Go for it... :D as far as I recall the TW paperwork was relatively painless.
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Re: CurrencyFair very slow

Post by Le Démerdeur » Wed Dec 05, 2018 3:28 pm

A shame they went they way that they did because they were once very good and set the bar for others, the people on the end of the phone if you needed them were excellent.

I have not needed to move money between countries for several years now but I was once a frequent user.

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Re: CurrencyFair very slow

Post by elsie » Thu Dec 06, 2018 9:59 am

You can use TW through Monzo for no additional charges and the same TW exchange rate.

You can usually transfer at slightly better exchange rate and no fees using Revolut. For euro transfers, Revolut also uses Single Euro Payments Area (SEPA) transfers so it is quick.

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Re: CurrencyFair very slow

Post by suein56 » Thu Dec 06, 2018 10:51 am

jardiniere wrote:
Wed Dec 05, 2018 1:11 pm
Thanks for your replies. No, money still not arrived, but on checking my account there is a CREDIT the same afternoon for the same amount from Bank of America. It seems they are CurrencyFair's bankers. Haven't managed to sort this out yet but very fed up. I think next time I'll move to TW but dread all the paperwork involved.
Just a thought .. but CF originally used to bank with Bank of America but changed to Barclays a couple of years ago. If you sent your money to BofA then they would send it back to you, hence the credit on your account.
Check the bank details you have for CF, that could be where your hold-up lies.
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