TransferWise?

[the lloyds]

I use FTT global for regular transfers to expensive student in Europe and to USA for other stuff. very efficient, you see the rate, you can purchase forward if you like or set alarms for rates. Max cost 10 quid, free if over a certain amount.

Thoroughly recommend them [no connection]

 

[Ravi]

When I did the transfer (from GBP to Euros) with transferwise, there was an option to either transfer the funds 'immediately' at a specific conversion rate or to do so over a few days. I did the latter and the online system showed each transaction as chunks of my money were converted as various other TransfwerWise customers requested currency conversion in the opposite direction. It, actually, shows you the user names and amounts of the reverse transaction.

So, it sort of works like the Betfair betting site in a peer to peer way.

For a £15K amount the rates from other online transfer agents were around the same rate that I eventually got from TransferWise. The significant thing is that ALL of them were much cheaper than my bank.

It is heartening to see the greedy banks being challenged and not having everything their own way. Long live the Internet!

 

[john]

I'm glad that people are using alternatives to banks it's about time after all these years if them charging over the odds to do thing with your money. Transferwise strikes me as a punter who transfers money to three countries each month (and having tried many banks and online services) as the best of the bunch with a simple-to-use website and good customer service. They give you a commision for introducing new customers and a first transfer fee free if you use this link!: https://transferwise.com/u/ab5b

best

John

 

[multihullsailor6]

I have tried to use TransferWise for a transfer from Germany to South Africa and can only conclude that the transfer time of 8 days in uncompetitive and the debit system they use in Germany is a hoax! They actually wanted full access to my bank account!!!!!

 

[john]

I have tried to use TransferWise for a transfer from Germany to South Africa and can only conclude that the transfer time of 8 days in uncompetitive and the debit system they use in Germany is a hoax! They actually wanted full access to my bank account!!!!!

I'm sorry to hear that but it doesn't tally with my experience, and I am getting transfers completed within three days. It's wise to be savvy and suspicious of any money site, of course.

TransferWise do not ask for bank details. They ask you to transfer money in a regular fashion to their bank account and then make a payment onwards. The cost and rates achieved are excellent, and I save over £150 a month compared to my regular bank.

Forumites should check it out and make up their own minds.

John

 

[colind3782]

Used them three times now and no problems with the funds usually arriving quicker than their estimate.

 

[Bertramdriver]

Yes, we have a couple of these from CaxtonFX. They work fine in my experience in Greece, France, Spain, Germany and Switzerland. You can get a Euro-only card for the Eurozone, and a 'Global' card for the rest of the world.

+1 for Caxton FX. I have moved some fairly big amounts through them UK to Greece. No problems and cost effective.