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CurrencyFair - Avoid Bank Charges when converting currencies

Learn how to use a peer-to-peer service like CurrencyFair when you need to convert currencies.
Rating: 4.7 out of 54.7 (53 ratings)
2,822 students
Created by Andrew Williams
Last updated 5/2017
English
English [Auto]
30-Day Money-Back Guarantee

What you'll learn

  • Understand the charges that a bank levies when converting from one currency to another.
  • Avoid bank charges using a peer-to-peer service like CurrencyFair.
  • Move money between one bank account (and currency) to another bank account (and currency).

Requirements

  • Students don't need any prior knowledge before starting the course.

Description

Have you ever been shocked at how much your bank charges you to convert your money into a different currency?  Not only are there transaction fees, but you also lose an additional percentage in the currency exchange margins that banks use for these transactions.  It's a double hit on your pocket.

I've been working online for over a decade, and getting most of my income in US dollars.  That's really not ideal, because I live in Spain where we use the Euro.  To complicate it even more, I also have a bank account in the UK in pounds sterling.  I regularly have to convert currencies and send money between my bank accounts, but using banks ends up costing me a fortune in fees.  This is where CurrencyFair came to my rescue.  

Currency Fair is a peer-to-peer network that cuts out the middle man (the bank), meaning you get to keep more of your money when converting from one currency to another.

Here is an example of how it works:

  1. Person A has euros and want pounds sterling.
  2. Person B has pounds sterling and wants euros.
  3. CurrencyFair has created a marketplace where you can effectively swap currencies at an exchange rate that suits person A and person B.

It's a simple idea, and it works extremely well.

In this course, I'll introduce you to the idea of using a service like Currency Fair for your currency conversions.  I'll explain my own situation, and why I needed a service like this.  I'll then take you through the process, from signing up, to getting your currency converted and sent to your bank account.

I'll show you how much a bank would charge for a typical transfer, and then I'll show you a real conversion of mine, that I did with CurrencyFair.  This is an up to date conversion that I did as I was creating this course, so you'll get to see how much I managed to save on the currency conversion.

This course is for anyone that needs to transfer money between one currency to another.

Who this course is for:

  • This course is for anyone that needs to convert money from one currency to another, but doesn't want to pay the bank fees.
  • This course is only for people living in the EU/EEA, Canada, Australia & New Zealand

Course content

4 sections • 11 lectures • 39m total length

  • Preview07:53

  • Preview02:30
  • Currency Fair - My Chosen Service
    03:48

  • The Approval Process
    04:20
  • Adding Bank Details
    03:14
  • Uploading Funds to CurrencyFair
    02:59
  • Exchanging the Currency
    06:41
  • Withdrawing your Currency
    03:15
  • Total Cost of Moving the Money
    02:02

  • A Real-Time Currency Conversion & Transfer
    02:56
  • Bonus Lecture
    00:18

Instructor

Andrew Williams
Wordpress, SEO & Self-Publishing Expert, teacher and author
Andrew Williams
  • 4.6 Instructor Rating
  • 25,907 Reviews
  • 119,105 Students
  • 29 Courses

I have written and published a number of books that are available on Amazon, including best selling books on Wordpress ("Wordpress for Beginners 2020") and search engine optimization ("SEO 2020").  I also run a website called ezSEONews, where I teach my visitors and newsletter subscribers a number of skills required for running a successful website.

         As an ex-schoolteacher, I hope I can make complicated topics simple to understand.  I certainly enjoy trying! 

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