FairFX Launch Fairpay
What Is FAIRPAY?
FairFX is now offering clients the functionality to transfer Euros and US dollars internationally with the release of its new International Online Payments facility.
You can now send money to beneficiaries (family, friends or businesses overseas by using the online payments platform where you can transfer from £500 to £10,000 making smaller currency transfers more efficient and convenient.
So what makes Fairpay stand out?
Beneficiary details are saved on the Fairpay system for future use if making repeated payments to the same account plus Fairpay offers a transparent service as the rate you see is the rate you get. You always know what you are paying as you see the total cost before confirming your transfer.
- Free Currency transfers
- No transaction fee
- No Payment fees
- Competitive online exchange rates
- Transfer from as little as £500.00
- Fast and Convenient
All outbound payments are processed on the day FairFX receive the cleared funds into their bank account. Onward payments generally take 1-3 business days to pass through the banking system which is still not bad considering banks can take up to 5 working days.
Available 24 hrs a day, 7 days a week - Set up an online payment at any time of the day.
Using The FairFX International Transfer Facility?
The Fairpay online system is easy to register and set up regular or one off payments with several payment methods including debit/credit cards as well as electronic transfer. All payments including access to the facility remains a complete secure online payment facility offering the latest in security and encryption technology to ensure your transactions remain private and secure.
At the moment you can only transfer Euros or US dollars but this will be open to full international transfers soon allowing you to
- Pay organisations in their local currency for purchases.
- Purchase foreign investments in local currencies.
- Pay one-off or regular international property mortgages/bills
FairFX will not charge you any payment fees/sending fees for your transfer. FairFX will execute your payment in full and on time, provided you have completed all the necessary information correctly.
When transferring funds internationally, some correspondent banks/receiving banks will debit additional fees (together with any applicable taxes), and deduct these from the amount they credit to the beneficiary account. This is most prevalent in US Dollars (US$), both into the USA and to other countries, but it can occur in any currency/country combination.
Please also ensure that the account that you are sending money to is in the same currency as the transferred amount (e.g. send US$ to a US$ denominated account) otherwise you will incur additional conversion charges from the recipient bank.
Please note - FairFX has no control over these practices or the costs involved. Accordingly, please check with the receiving bank prior to completing your transfer.