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This tells us where your money is coming from and how much we should expect, which helps us to quickly credit your CurrencyFair account as soon as it arrives.

We'll then display our client bank account details on-screen so that you know where to send the funds.

This is easy to do with your online banking, phone banking, or if you prefer by going into your branch.

Just set up CurrencyFair as a beneficiary using the details we provide you with, and instruct your bank to transfer the funds to our client account, with your CurrencyFair client number as the payment reference.

We monitor our client bank accounts regularly, so as soon as your money arrives we'll credit it to your CurrencyFair account.

We'll also send you an email so that you know straight away that your funds are now ready for you to exchange - at a time and rate of your choosing.

You can choose whether you want to sell a fixed amount of what you have, or receive a fixed amount of the currency you want.

If you're paying a foreign bill or invoice, you might choose to buy a fixed amount. If you're sending savings home, you'll probably choose to convert whatever you have.

QuickTrade will instantly calculate and quote you the current, best available rate to fill your entire order at that moment. It will also display the amount you'll receive, if you chose to sell a fixed amount, or the amount it will cost you to buy a fixed amount of the currency you want.

Your entire order is instantly processed at the quoted rate or better. On the rare occasion where the quoted rate is no longer available, you'll be asked to click quote again. On the other hand, if the rate has moved in your favour, your order will be completed at the better rate.

A confirmation will be displayed on screen confirming all the details, and your converted funds are instantly available to be transferred to wherever you need them.

You would generally use QuickTrade when you want to exchange straight away, while using the MarketPlace is a good way to exchange if you are prepared to wait for a better rate.

Just like QuickTrade, you can choose whether you want to sell a fixed amount of what you have, or receive a fixed amount of the currency you want.

With the Marketplace, YOU choose the exchange rate that you will accept. Other customers exchanging in the opposite direction can view your offered rate along with everyone else’s; so the more competitive the rate you choose, the better your chances of being matched quickly.

In order to help you choose a rate, you can view the full market. This shows you all other customer orders outstanding on the marketplace at the time, including customers exchanging both in the opposite direction, and in the same direction as you.

Depending on the rate you have chosen, your funds will be fully matched, part-matched, or unmatched. You will never be matched at a rate worse than your chosen rate.

Any part of your order that can be covered by existing customers on the marketplace will be matched immediately.

Any unmatched portion of your order will remain outstanding on the marketplace until it is either matched by another customer or you cancel it.

To create a new beneficiary, simply enter their name and account details. This can be an account in your name, or that of a third-party such as a friend or a supplier.

You only need to enter the beneficiary details once, for repeat transfers you can select them from your list of saved beneficiaries.

Standard transfers generally arrive in 1-3 business days, depending on the currency. Use a priority transfer when you're in a hurry; funds will arrive same day or early the next.

The transfer fee can be paid for in either the currency you're selling, or the currency you're buying, it's up to you.

Your payment will be sent to the beneficiary bank account with your name as a reference, and you can add additional reference information if you need to.

You'll get one more chance to confirm your transfer. Check that all the details are correct, then click Confirm.