CurrencyFair vs Panda Remit

CurrencyFair provides online cross-border payments and foreign-exchange services through web, iOS, Android, and an API for approved business and institutional partners. Users can send and receive money to and from more than 150 countries in more than 20 currencies, with bank recipients and same-day transfer speed listed. Quick Trade supports instant exchanges; Marketplace Trades let users set a desired rate and wait for a match. Users can also set rate alerts, track transfers, and schedule them. Business customers can pay overseas workers, suppliers, and contractors, or receive international payments. UK-based business customers can hold more than 20 currencies and convert when market conditions suit them. CurrencyFair lists a free plan. Charges include €3 a month for international transfers, billed at €3 or currency equivalent when sending or transferring out after exchange, plus an exchange margin. Personal and business accounts list a €3, paid once charge per send or transfer out after exchange. Identity verification is required and may involve identification and up to two proofs of address. The company is based in Dublin and was founded in 2010.

Panda Remit provides online international money transfers to more than 40 countries and regions, with transfers to Mainland China available from more than 30 countries and regions. It advertises real-time exchange rates and comparisons with historical bank rates; its exchange-rate model is variable. The shortest stated arrival time is 2 minutes, though reviews, available funds and account limits, bank hours, time zones, holidays, and receiving-agent hours can affect timing. Users can track funds at each stage. Payment methods depend on the sending country: Australia supports PayID, POLi, and bank transfer, while the United States supports ACH bank transfer and debit card. Recipients in Mainland China can receive Australia transfers through Alipay, Weixin, or bank accounts. The service is for transfers between individuals and does not support business-account transfers. It is available on Android, iOS, and web. A free account is listed at free. United States global transfers are listed at $6.99, paid once, and Australia global transfers at A$5.99, paid once; fees may vary by sending amount and destination.