Sending Money Overseas article discussion

moneysaverz83

I also have revolut if that helps (as holiday spend card)

moneysaverz83

From what I've seen, this means wire transfer. Transfer wise don't do wire. So I can do it through my bank, they charge £20.

robatwork

I've never found revolut actually beats either Transferwise or Xendpay.
In fact since Xendpay knocked off their fee for me recently (made the fee optional) their rates have been unbeatable.

Have also found those two services are quicker than previous years - now about 2 working days for the money to hit the recipient whereas it used to be about 4.

eDicky

moneysaverz83 wrote: »

From what I've seen, this means wire transfer. Transfer wise don't do wire. So I can do it through my bank, they charge £20.

That will be the worst option, apart from the relatively insignificant £20 fee you will lose 3%+ on the banks' exchange rate. Using your Nationwide debit card for the purchase will cost 2%. Transferwise gives the perfect rate for 0.5% (or 0.7% for $?) fee.

Use your Nationwide Select credit card or Revolut, ideal rates with no fees on purchases, make sure.the company bills.you.in dollars, not pounds.

eDicky

robatwork wrote: »

I've never found revolut actually beats either Transferwise or Xendpay.
In fact since Xendpay knocked off their fee for me recently (made the fee optional) their rates have been unbeatable.

I just had a quick look for exchange rates used by Xendpay, but all I see are spelling mistakes...

https://www.xendpay.com/exchange-rate

Revolut uses the interbank rate of.the moment, except for a relatively small margin on weekends, and charges no fee on transfers. There's a 0.5% fee on conversions in excess of £5k per month. So for <£5k on weekdays I don't see how it can be beaten.

moneysaverz83

Transferwise don't do wire transfer with the ABA ROUTING number I think I tried.
The company only uses this option, not ACH payments

Ok, so I initiated this earlier with my debit card.

I didn't know I could wire transfer with my select card?

moneysaverz83

Btw, on transfer wise it said 'this routing number can only be used for transfer to bank of America. We need one for ACH PAYMENT'

So that's why that got ruled out. I guess similar for revolut?

Hence the direct ABA wire transfer was my only option. The rate wasn't too bad. The purchase was large and actually worth a lot more after (a collectable), so I can probably neck it.

Bit annoying they just do ROUTING but I don't have a say in that

Cash_Counter

Some advice please

I used the MSE link to register with Currencies Direct, and have then used them to transfer money back to the UK - all worked fine, no problems.

The MSE link promised an Amazon gift card if the total transferred met certain criteria - My transfers did meet the criteria, but as yet I have not rec'd the gift Card.

Does anyone know:
* How long does it take for the card to arrive
* What e-mail address can you use to report non receipt of the card

eskbanker

Cash_Counter wrote: »

Some advice please

I used the MSE link to register with Currencies Direct, and have then used them to transfer money back to the UK - all worked fine, no problems.

The MSE link promised an Amazon gift card if the total transferred met certain criteria - My transfers did meet the criteria, but as yet I have not rec'd the gift Card.

Does anyone know:
* How long does it take for the card to arrive
* What e-mail address can you use to report non receipt of the card

According to the Ts & Cs of the offer at https://www.currenciesdirect.com/en/personal/aff/mse-offer-summer-2016:

The £40 Amazon voucher will be sent within 30 days after the £5,000 (Sterling or foreign currency equivalent) minimum transfer amount has been fully paid for.

How long ago did you transact?

Their contact details are shown at the foot of that page....

robatwork

eDicky wrote: »

I just had a quick look for exchange rates used by Xendpay, but all I see are spelling mistakes...

https://www.xendpay.com/exchange-rate

Revolut uses the interbank rate of.the moment, except for a relatively small margin on weekends, and charges no fee on transfers. There's a 0.5% fee on conversions in excess of £5k per month. So for <£5k on weekdays I don't see how it can be beaten.

Yes that page is shocking, but the service has been fine.
Revolut aren't offering the currency I am transferring to so not an option. They are a little slow though, so it depends - if you need the transfer to be next day transferwise are better.