Terms & Conditions

This website (the or this "Website") is operated and owned by FairFX [FairFX Plc, 3rd Floor, Vintners' Place, 68 Upper Thames Street, London EC4V 3BJ] ("FairFX"). You can contact us at enquiries@fairfx.com.

Use of and access to the Website is provided on the basis of the following terms and conditions.

Availability of services and products and accessing the website

1. FairFX may from time to time and without first letting you know:

1.1 make such changes to the content of the Website or the products or services offered by FairFX through the Website as FairFX (in its absolute discretion) considers appropriate from time to time;

1.2 withdraw such services and products as FairFX (in its absolute discretion) considers appropriate from time to time;

1.3 terminate your access or use of the Website for any breach of these terms or conditions or for any breach of law or regulation or for any reason FairFX considers appropriate in order to comply with anti-money laundering regulations. FairFX reserves the right to use various procedures to authenticate each transaction including identity checks. This service is currently performed by the GB Group. FairFX reserves the right to decline to continue to process any part of your order at any time;

1.4 discontinue the operation of the Website.

2. Permitted Access to the Website

2.1 You should not use the Website from any country where accessing or using the Website or any of the information, products or services on it is prohibited by law. This Website does not constitute any invitation or solicitation by FairFX to any person to use any such information, products or services in countries where to do so is prohibited by law.

3. Reliance on Information Posted

3.1 FairFX shall use its reasonable endeavours to ensure that any dated information contained or reproduced on the Website is up to date at the stated date of its publication only. FairFX does not accept any responsibility to update or amend any information. The information or content provided by the Website may be out of date at any given time.

4. Restrictions on use of the website

4.1 The content of the Website and the products and services made available by FairFX on the Website are intended for use by holiday or business travellers or by individuals or corporations seeking to purchase currencies for the purposes of business travel, and should not be used for speculation or investment.

5. Intellectual Property

5.1 All intellectual property and all materials comprising or contained in the Website including but not limited to all text/articles, logos, software and images, are owned, or as the case may be licensed, except as otherwise expressly stated, by FairFX.

5.2 You are entitled to access the Website for the purposes of accessing the facilities offered by FairFX. However you may not use in any way, directly or indirectly, the Website or any of its components for any other purpose. The materials contained on or comprising the Website may not be copied or redistributed for commercial purposes or for compensation of any kind without prior written permission from FairFX.

6. Links to other sites

6.1 This Website contains links to third party websites. Such links are provided to you for your convenience only.

6.2 FairFX has no control over any material which has been published or contained on such third party websites. FairFX does not warrant the content or accuracy of such third party websites nor does FairFX accept responsibility or liability in relation to the content or products offered by or through such third party websites.

7. Limitations on liability

7.1 All content shown on the Website (and all services and products provided by it) are provided and made available without any warranties, conditions or guarantees given by FairFX. All such warranties, conditions or guarantees which would otherwise be implied by law are excluded to the fullest extent permitted by law. In particular, FairFX does not warrant the accuracy, suitability, reliability, completeness, performance and/or fitness for purpose of the content of any services or products available through this Website.

7.2 FairFX uses reasonable skill and care in providing its products and services to you. However (to the maximum extent permitted by law) FairFX is not liable to you for any loss, damage, claim or compensation (including loss of profit or loss of use) arising out of:

7.2.1 your use, delay or inability to use this Website;

7.2.2 any inability to perform any of FairFX's obligations due to failure of any technical or computer systems;

7.2.3 any reasons beyond FairFX's reasonable control. This will include (amongst other things) war, terrorism, government action, natural disaster, and industrial disputes;

7.2.4 any damage to your computer equipment as a result of using this Website or any products or services provided from it;

7.2.5 any change in foreign currency rates which may occur from time to time.

7.3 Without limiting the more general exclusions of liability as set out in sections 7.1 and 7.2, (to the maximum extent permitted by law) FairFX is not liable to you for any loss of profit, loss of use, indirect, or consequential losses, claims or other damages suffered or incurred by you from your use of the Website or the products or services offered through or by the Website however caused.

7.4 FairFX's maximum aggregate liability to you in respect of all foreign currency transactions undertaken by you shall be limited to a refund equivalent to any moneys you have paid to FairFX to acquire foreign currency.

7.5 FairFX does not warrant that the Website is free of viruses or of other material which is malicious or technologically harmful. FairFX is not liable for any viruses for other technologically harmful material that may affect your computer equipment, computer programs or other material resulting from your use of the Website.

7.6 The disclaimers and limitations of liability in these terms and conditions shall not apply to any damages arising from death or personal injury caused by the negligence of FairFX or any of its employees or agents or for fraud.

7.7 FairFX does not accept any liability for loss occasioned by fraudulent spending or any other unauthorized use of the card no matter how caused but will assist its customers in preparing a claim for submission to the appropriate third parties where requested to do so.

7.8 If any provisions of these terms and conditions including these disclaimers and limitations shall be unlawful or unenforceable then such provisions shall fall away and shall not affect the validity and enforceability of the remaining terms. Your statutory rights remain unaffected.

8. Privacy and data protection

FairFX processes information about you in accordance with its privacy policy. By using the website you consent to such processing and you confirm that all data you provide is accurate.

Governing Law and changes to these terms and conditions

9. All use of the Website and these terms and conditions is governed by the laws of England and Wales.

10. All disputes arising out of the use of the Website and/or any services or products provided by FairFX or any dispute relating to these terms and conditions shall be resolved by the Courts of England and Wales.

11. FairFX reserves the right to change these terms and conditions from time to time. You should check these terms and conditions every time you use the Website. By using the Website you will be treated as having consented to these terms and conditions and/or any revised terms and conditions which may appear from time to time.

Additional terms and conditions

Provisions relating to placing of the order and when the contract between you and FairFX is formed.

1. Orders through the Website must only be placed by individuals over the age of 18.

2. On the Website FairFX makes available foreign currency for purchase in respect of holiday and business travel (but not for investment, speculation or any other purposes).

3. Please follow the steps on the screen in order to place an order. FairFX reserves the right to ask for further information in order to process your order.

4. FairFX will use various procedures to authenticate each transaction for the purposes of law and regulations including anti-money laundering regulations. FairFX reserves the right to decline to continue to process any part of your order at any time.

5. You will be able to correct the details of your order any time up until you press the "Buy Now" button which confirms order at the bottom of the payment details page. After that point you will no longer be able to correct details on your order, so please make sure they are correct at that time.

6. FairFX will send you an email acknowledgement of your order once it has received it but please note that this is an acknowledgement only and does not constitute acceptance of your order by FairFX.

7. Once you have placed your order for foreign currency on the Website by pressing the "Buy Now" button at the bottom of the payment details page this will authorise FairFX to action your order and you will not be allowed to cancel it subject to the cancellation policy set out in paragraph 8 below. Should you wish to make any amendments to your order after you have placed your order by pressing the "Buy Now" button at the bottom of the payment details page, FairFX will use its reasonable endeavors to accommodate your needs. If you wish to amend your order please send an e-mail to enquiries@fairfx.com . Any such amendments will be subject to the applicable foreign exchange rates as published on the Website by FairFX from time to time. If FairFX agree to amend you order you will receive an e-mail to confirm this. However FairFX is under no obligation to accept any such amendments to your order and FairFX accepts no liability or responsibility in the event that it decides not to do so.

8. You may cancel your order by providing FairFX with written notice of cancellation, by email to enquiries@fairfx.com, at least 7 days prior to delivery of your order. FairFX will have purchased your order at a foreign exchange rate. In the case of cancellation you will receive a refund at the foreign exchange rate prevailing at the time of cancellation of the order which may be different to the foreign exchange rate at the time of your order as exchange rates fluctuate.

9. All orders are subject to acceptance by FairFX and FairFX will confirm such acceptance to you by sending you an email that confirms that the order has been accepted. The contract between FairFX and you will only be formed once FairFX sends you the confirmation email that your order has been accepted. Until that time there will be no binding arrangement for FairFX to supply you with any foreign currency or other services. You should print and retain a copy of the confirmation email for your records.

10. FairFX is not obliged to accept any order and may decline to do so for any reason

Price, Availability and Delivery

11. Your foreign currency will be delivered at the time and made available in the manner set out on the confirmation email. In the event that you have arranged for your order to be delivered FairFX will use Royal Mail Next Working Day Delivery. FairFX accepts responsibility for your order up to the point of collection by Royal Mail. Problems at Royal Mail such as service disruptions, delays or failure to deliver are therefore outside the control of FairFX.

Upon delivery, please ensure that the package is not torn, has not been opened and does not appear to have been tampered with before signing. If you are not happy with the condition of the package do not accept it or sign for it and inform us immediately of any problems.

If your delivery does not arrive please inform FairFX immediately. Upon being made aware of any problems regarding deliveries, FairFX will then liaise with Royal Mail on your behalf and keep you informed as to the reason for the problems and the steps being taken to resolve the issue.

12. The price payable for the foreign currency that you order will be as shown on the confirmation screen and is only valid for a short period of time as Foreign exchange rates continually fluctuate. If you do not submit your order immediately you enter the confirmation screen the price many change and you will need to enter the screen again to see the updated price.

13. FairFX have the right to revise and amend these terms and conditions from time to time. You will be subject to the terms and conditions in force at the time you place an order with FairFX. By placing an order you agree to the terms and conditions in force at the time the order is made.

14. FairFX is entitled to refuse, withdraw or cancel your foreign currency order at anytime, for any reason. FairFX may terminate any foreign currency order at any time.

15. Should any order be cancelled before being processed, your card issuer may suspend the associated funds for up to 5-7 days, before releasing them back into your account. Please be advised that this is beyond FairFX's control. As such, FairFX accepts no liability for such actions. Please note that FairFX does not refund cash advance charges made by your card issuer and that the late cancellation fee may also be subject to a cash advance fee from your card issuer.

FairFX may also terminate any contract it has with you if it is required to do so on instructions of any law enforcement agency or regulatory body. In this case FairFX may retain all or any of your money if it is required to do so by law and then deal with it as ordered by a court or other body of competent jurisdiction.

Anti-money laundering policies

As a Money Services Business (MSB), FairFX is registered with and regulated by HM Customs & Excise under Money Laundering Regulations. Our staff are fully conversant with Anti-Money Laundering guidelines and are aware of their responsibilities in the monitoring and reporting of any actions that raise suspicion or give cause for concern.

FairFX reserves the right to perform identity checks in accordance with the Terms and Conditions on all individuals who place an order on the website. For further information on these identity checks please contact enquiries@fairfx.com.

FairFX reserves the right at all times to refuse to process any foreign currency order which it believes in its sole discretion, is connected in any manner to any unlawful or illegal purpose. We have a legal obligation to report to Customs and Excise / NCIS any such suspicious transactions.

FairFX is obliged by law to monitor any unusual or suspicious transactions of any size taking place where we have reasons to believe the money is derived from unlawful or illegal activity.

There is a statutory obligation on all FairFX employees and their agents to report suspicious transactions to the UK authorities. Where any such report is made, FairFX accepts no liability for any delay in transmission of or confiscation of the funds.

After you have completed a FairPay transaction with FairFX, if you find a better rate from any other provider in the UK, notify us within 24 hours of transacting with us and we'll refund the difference between the FairPay online rate and the alternative rate you found elsewhere. This will only be in relation to the amount you have already transacted through FairPay.

1. The FairPay Price Guarantee only applies to rates offered through the online FairPay platform at www.fairfx.com/fairpay. Services we offer either in conjunction with any of our partner companies (including those hosted through www.fairfx.com or business.fairfx.com) or for reloading a FairFX Prepaid MasterCard® Card or for home delivery of cash are excluded from the FairPay Price Guarantee.

2. Our commitment only applies to the currencies listed as Payment Currencies on FairPay (www.fairfx.com/fairpay) on the "trade date" you executed a transaction with us on FairPay. The trade date is the date you entered into your legally binding contract with FairFX Plc on the FairPay platform.

3. Foreign Exchange markets are volatile and rates can change quickly. The rate guarantee will only apply if you can demonstrate that you obtained a better quote online from an automated platform (and not over the phone) from another provider within 30 minutes of the time of executing your FairPay transaction on the same trade date.

4. The quotation from the other provider to which your FairPay transaction is being compared must be from a foreign currency retailer based in the UK who makes international transfers in the normal course of business and must be available to a UK resident retail customer.

5. The quotation from the other provider to which your FairPay transaction is being compared must be from a foreign currency retailer acting as a Principal to the transaction and not an exchange rate from a peer-to-peer platform.

6. The quotation from the other foreign currency retailer to which your FairPay transaction is being compared must be for the same transaction value as your completed FairPay transaction and for the same transaction terms including value date and must be for deliverable FX.

7. The price compared will be the total price (including overseas transfer fees or charges, commission, and FX margins) charged by the other provider to which the FairPay rate is being compared, on the same trade date you used FairPay. The prices compared must be genuine like-for-like buy rate and sell rate prices offered to the general public in the normal course of business and not "interbank rates"* or prices only available to staff, club members or other selected groups or individuals, or any limited time special offers.

8. The guarantee only applies to FairPay transactions paid for by Bank Transfer or Debit Card and does not include transactions paid for by Credit Card.

9. The guarantee is only effective for FairFX customers who have executed a FairPay transaction with FairFX and have completed the transaction by paying FairFX and the final foreign currency delivery has been completed.

*Interbank rates are considered rates that are indicative of the market and shown on various market and competitor websites which are not actually available for buying or selling but are based on the mid-point of buy and sell rates for large transactions in international foreign exchange markets.

The verification process

10. We offer our FairPay Price Guarantee wherever we can verify, to our reasonable satisfaction, the alternative online price that you have been offered. Therefore, please email the following information to priceguarantee@fairfx.com in order to claim your refund of any difference versus the FairPay transaction performed with FairFX.

  • Your FairPay Order Reference Number and your personal contact details;
  • The details of the alternative money transfer service, including:
    • Business name;
    • the exact website address you obtained the quote from
  • Confirmation of the total price and currency offered to you by that provider (including commission, FX margin and fees) and confirmation of the times and dates you obtained the alternative quote. A time and date stamped screen shot of the quote may suffice. As this guarantee only applies to online platforms, an e-mail from a Broker is not acceptable confirmation.

Time limits

11. Given that the Foreign Exchange markets move so quickly, our commitment only applies if you are able to demonstrate that you have obtained an online quote from another provider within 30 minutes of the FairPay transaction executed with FairFX.

12. The FairPay Price Guarantee only applies to transactions carried out on UK Business days between 09.00 and 17.30 UK time.

Other Terms

13. In exceptional market conditions, FairFX reserves the right to amend the rate comparison terms and conditions.

14. In order to provide you with and refund or to discuss your refund request with you we will also require you name, address and telephone number. FairFX will not share your personal information with third parties. Please click here (www.fairfx.com/privacy) for more information on our Privacy Policy

15. The FairPay Price Guarantee commitment to refund any difference will not apply if you have not paid us in full for the FairPay transaction that is being compared.

16. The FairPay Price Guarantee shall not apply in the unlikely event of FairFX quoting a rate that is manifestly in error (for instance a rate of Interbank or better on any currency or transposing a US dollar rate for a Euro rate)

17. The FairPay Price Guarantee is only applicable to UK resident customers.

18. FairFX may, at any time, withdraw this commitment in respect of transfers that have not already been made, without notice.

19. This commitment is made by FairFX Plc., 3rd Floor Vintners' Place, 68 Upper Thames Street, London EC4V 3BJ. UK Company registration number 05539698 and Money Service Business registration number 12236741

20. The FairPay Price Guarantee is capped at the prevailing Interbank rate at the time of the FairPay transaction. The maximum rate differential that this guarantee will cover is the spread between the FairPay rate and the Interbank rate at the precise moment of the completion of the FairPay transaction.

21. The FairPay Price Guarantee refund is payable up to a maximum of £250 on a single transaction. Each customer is limited to one successful claim under this Guarantee in each calendar year.

22. The guarantee does not apply to variations in FairFX’s own rates as these are changed to reflect market movements.

FairPay Online Price Guarantee Terms and Conditions last updated on 16 October 2013.