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Transferwise

Posted: Thu Feb 28, 2019 5:04pm
12 replies375 views10 members subscribed
jimtaylor

jimtaylor

Legendary helpful member

Posts: 5612

8738 helpful points

Location: Mudamiento

Joined: 2 Feb 2017

In case anyone is interested, because the exchange rate is comparatively good at the moment, I've just done a transfer using Transferwise.

I could have used their direct debit facility, but I opted for doing a bank transfer to them.

I set it up with Transferwise, went into online banking and did the transfer to them, then later checked my bank here. The money was in my account in less than one hour from logging into Transferwise.

Potjoe1

Posted: Thu Feb 28, 2019 6:38pm

Posts: 23

2 helpful points

Joined: 6 Jan 2019

Posted: Thu Feb 28, 2019 6:38pm

Hi, are they better than FairFX?rates 

stu1425

Posted: Thu Feb 28, 2019 7:30pm

Posts: 27

5 helpful points

Location: Alicante City

Joined: 2 Sep 2018

Posted: Thu Feb 28, 2019 7:30pm

We have been using them instead of Moneycorp. Much better rate and once your

Details are confirmed you can transfer from UK to Spain within 3 minutes.

Gave a rate of €116.89 yesterday. 

Alice2

Posted: Thu Feb 28, 2019 8:38pm

Posts: 134

33 helpful points

Location: Playa Flamenca

Joined: 23 Aug 2018

Posted: Thu Feb 28, 2019 8:38pm

Hi Jim,

Can u tell me what their fee is and are there any other charges.

Thanks.

Potjoe1

Posted: Thu Feb 28, 2019 9:01pm

Posts: 23

2 helpful points

Joined: 6 Jan 2019

Posted: Thu Feb 28, 2019 9:01pm

With FairFX no cost only if you have a €card 1.75 and that’s only for cash out of the bank, transfer no cost.

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jimtaylor

Posted: Fri Mar 1, 2019 4:50am

jimtaylor

Original Poster

Legendary helpful member

Posts: 5612

8738 helpful points

Location: Mudamiento

Joined: 2 Feb 2017

Posted: Fri Mar 1, 2019 4:50am

Alice2 wrote on Thu Feb 28, 2019 8:38pm:

Hi Jim,

Can u tell me what their fee is and are there any other charges.

Thanks.

The fee depends on how much you move. The low cost transfer is £3.66 for £1000 if you're changing sterling to euros, and I always use the low cost option.

Looking at it now, send £1000 and you get €1162.32 in your bank account here.

I've also just looked at FairFX, and for £1000 would only receive €1142.60.

Tony333

Posted: Fri Mar 1, 2019 9:39am

Posts: 68

39 helpful points

Location: Torrevieja

Joined: 29 Apr 2016

Posted: Fri Mar 1, 2019 9:39am

I concur with Jim...just transferred 700€ the money was in my account with minutes and it cost me £603.15 which if my maths is correct is a rate in excess of 1.16€ to the £

Willy

Posted: Fri Mar 1, 2019 10:46am

Willy

Helpful member

Posts: 375

235 helpful points

Location: Benijofar

Joined: 26 Feb 2018

Posted: Fri Mar 1, 2019 10:46am

We us it all the time and it is better than FX we used to use FX some time ago but found Transfer wise better yesterday did a transfer for 900 euros and it was in the bank in 18 seconds I checked just amazing!  just don't do the transfer late Friday unless changed it can take the weekend.

Wilbur

Posted: Mon Mar 4, 2019 9:24am

Wilbur

Very helpful member

Posts: 424

641 helpful points

Location: Torrevieja

Joined: 29 Nov 2017

Posted: Mon Mar 4, 2019 9:24am

I've been using Transferwise for a good few years, However, recently Western Union have been doing a better rate and whan I used them the money was into the account within an hour too.

The good thing is on Transferwise is that it allows you to see the comparative rates of their competitors..

tonygold58

Posted: Mon Mar 11, 2019 10:41am

Posts: 212

41 helpful points

Location: Villamartin

Joined: 29 Jul 2017

Posted: Mon Mar 11, 2019 10:41am

there's agood little 'trick' you can use with Transferwise also. 

if you go thru the transfer money page your exchange rate is locked in at that rate for up to 24 hours so don't make the final payment just then. check back within that time frame and if the rate has gone down just go thru with your transfer then at the higher locked in rate. if the rate has gone up, simply cancel that transfer (very easy to do) and start a new transfer at the better rate. 

if you do it on a friday you get the whole weekend with your rate locked in till monday morning to see how the rates have altered. it's a win win situation. i use them all the time and their rates are superb. it usually costs me around £4 to transfer £1,000 into my Sabadell account with no fees from the receiving bank. 

back in the day, i used to use my Lloyds account for this, got a lousy rate and was charged around £30 for the same transfer amount!!

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