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Currencyfair VS PayPal

Published on 9 February 2017 in News - Pages by Raffick Marday

Currencyfair VS PayPal

Two names – Currencyfair and PayPal – are not unknown to anyone in the online business and remittance payment market. Both of these companies have made contributions to the market in their own way which has resulted in the progress of the market. Also, customers have been given varied options in the form of these two cash transfer-oriented companies. But who is better? This is for the customer to decide that which company they find better suited to their requirements. Let’s draw up a comparison between these two on the basis of the major points.

PayPal

PayPal has tremendously increased the online e-commerce and payment transfer systems and many people use this portal to transfer payments. It is indeed a good option for e-commerce in the form of buying and selling goods online. The connectivity of this company is really good and you can change your currency into USD, EURO, GBP and much more. But as a mode of transferring money from one place to another is a very bad idea through PayPal.

People have a very big misconception regarding PayPal being free for transferring money but this is not at all true. In fact transferring money through PayPal is extremely expensive, more expensive than most remittance companies. The transferring fees start at 2.5% and can cut off a huge amount of money from your transfers to place in the world. Along with this, the website reads that these rates may not be guaranteed and can change over time. You need to find out what rate is going on at this moment. So, in short, PayPal is a good option for shopping online but a really bad and expensive option for transfer of money.

Currencyfair

Currencyfair is a popular name in the market and has been present for quite a long time now. Many people have become regular customers of this company and most of them recommend it to others freely. Also, this company is very popular for its low transfer rates all over the world.

Currencyfair is indeed a very good option over PayPal if you are looking to use a company only for money transfer and exchange basis. The major reason of Currencyfair being better over PayPal is that it totally focuses on money transfer and so has a very low rate. It has proven claims of saving almost 90% of your money when transferring and exchanging it in any currency. They don’t have any hidden costs and their transparent marketplace along with a great customer service makes them a popular choice among senders. They hold your money and the money of other senders in separate client accounts in global banks which is regulated by Currencyfair which is an Authorized Payments Institution.

You can go through these sites and try to find out what else they can offer you. Like Currencyfair had many special deals for students, retired ex-pats, overseas workers and property dealers. In the same way, PayPal is one of the best options online for e-commerce than any other company in the market. You need to find which company suits you and your requirements.

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