Tuesday 12 December 2017

CurrencyFair creating 30 jobs in Dublin

Sarah McCabe

Sarah McCabe

FOREIGN exchange firm CurrencyFair is creating 30 jobs at its offices in Dublin.

The jobs will be based at newly built offices in Ranelagh in Dublin, which the company launched today.

Candidates with a blend of coding and financial skills are being sought.

The company, which allows customers to exchange funds and transfer them overseas at what it said is a fraction of the cost of traditional banks or brokers, was founded in 2010.

It is backed by Frontline Capital, the Irish venture capital firm run by Shay Garvey.

The company said its customers have saved a total of €25m in bank fees and exchange rate charges based on total transfers of €600m.

According to its research Irish people alone lost over €100m in fees this year on total global transfers in and out of Ireland of over €2b at an average 5pc fee.

“Sending an average annual mortgage or rent payment home or overseas currently costs more than a family holiday in fees. CurrencyFair costs no morethan a family meal, up to 90pc cheaper than average bank charges. The days of banks charging up to 5pc while claiming no commission or free transfers are over” said chief executive Brett Meyers.

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