The Dynamic Duo: CurrencyFair Joins Forces with tell.money
In an exciting development for money transfer enthusiasts, CurrencyFair, the acclaimed Dublin-based money transfer company, has partnered with the innovative open banking SaaS platform tell.money. This collaboration aims to significantly enhance CurrencyFair’s services, creating an even more **seamless, transparent, and compliant experience** for users seeking efficient cross-border transactions.
Why Open Banking Matters: A Glimpse into the Future of Transfers
With the integration of tell.money’s state-of-the-art open banking technology, CurrencyFair’s commitment to **secure and low-cost transactions** is taken to the next level. In the words of CurrencyFair’s CEO, Jan Lorenc, “At CurrencyFair, we are committed to providing customers with the fastest and most secure money transfers possible. Integrating tell.money’s open banking solutions helps us improve payment efficiency while ensuring compliance with evolving financial regulations.” This strategic partnership not only enhances the main service but also addresses the ongoing issues many face in cross-border money transfers.
CurrencyFair: A Game Changer in Money Transfers
For those sending money overseas, CurrencyFair has emerged as a **lifeline**. Catering to expats, overseas homeowners, and small businesses, the platform offers access to **real-time exchange rates**. With an average margin rate of only 0.53% and a nominal €3 fee, CurrencyFair enables customers to **sidestep the exorbitant spreads** sometimes reaching 5% and international transfer fees that can soar as high as €25 per transaction.
How CurrencyFair Works: A User-Friendly Experience
Transferring money with CurrencyFair is as easy as pie. Customers need to:
- Set up their transaction, specifying the amount and currency.
- Add recipient details.
- Select a deposit method.
- Transfer funds into their CurrencyFair account to initiate the exchange.
This straightforward process allows users to enjoy exchange rates that could be **up to eight times cheaper** than those typically offered by traditional banks. Whether you’re transferring funds abroad, purchasing real estate, receiving a pension, or paying for tuition, CurrencyFair is emerging as a **preferred choice** for global transactions, coupled with **exceptional customer support**.
Expanding Horizons: A Partnership with Vision
David Monty, CEO of tell.money, states, “CurrencyFair is a leader in cross-border payments, and we’re pleased to support them in delivering a more seamless and secure experience for their customers worldwide.” Established in 2020, tell.money provides an open banking ecosystem that fosters compliance and innovation. Their offerings include:
- tell.gateway – Dedicated interface APIs.
- tell.confirm – For businesses needing confirmation of payee.
- tell.heartbeat – Constant monitoring of APIs.
- tell.life – A suite of money management tools to help consumers.
A Glance Back: CurrencyFair’s Evolution
CurrencyFair’s journey to prominence began at **FinovateEurope 2012**, where it won the Best of Show during its live demo at FinovateAsia shortly thereafter. The company merged with Australia-based Assembly Payments in 2023, expanding its horizons and integrating cutting-edge financial services such as payments, FX, and fraud management, tailored specifically for mid-market to enterprise-level businesses.
The announcement of this dynamic partnership with tell.money arrives hot on the heels of Jan Lorenc’s appointment as the new divisional CEO. Lorenc, a seasoned executive with a rich background in digital asset management, is poised to steer CurrencyFair into a new era of growth and innovation.
To stay updated on the latest in financial news and to explore more about CurrencyFair and its innovative partnership, visit Finovate’s website.
