CurrencyFair is a peer-to-peer online marketplace for foreign exchange. Users of the site can exchange funds with each other at a fair rate, bypassing banks and the transfer fees involved. Regardless of transaction size, clients pay on average around 0.3pc of the notional exchange, whereas a typical bank charge is 3pc. CurrencyFair also saves around €20 on the standard cost of making an international funds transfer.
Idea contributed by David Christian. Thanks!
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