Sending Money Overseas article discussion

cistron

Hi folks,

I've left the UK and considering the current situation, I'd like to move about £30k into euros. Has anyone got a good overview of the current fees? Seems like Revolut will charge 0.5%, Transferwise quotes 0.37%. Anything better out there?

Thanks!

Consumerist

cistron said:

Hi folks,

I've left the UK and considering the current situation, I'd like to move about £30k into euros. Has anyone got a good overview of the current fees? Seems like Revolut will charge 0.5%, Transferwise quotes 0.37%. Anything better out there?

You could have a look at the <monito> comparison site. A quick check for sending £30,000 to France puts Transferwise at the number one spot but enter your own details for your options. Good luck.

colsten

Check out Quidco and/or TopCashback - there are often lucrative cashback offers for new customers from Azimo and WorldRemit . I have used both, they are fast payers.

You don't have to use the same one for all your money. Also, be very careful - none of the currency transfer services is FSCS protected. If you want FSCS protection (which I would always want if I can have it), Starling Bank is your best option. They have the same, or better, rates as Transferwise. You have to have a UK address to get a Starling account though.

cistron

Thanks, Consumerist and colsten for your advice. I will check both out.

J_B

We used https://www.currencyfair.com/  they charge a flat £3 fee

Sent £400 yesterday and got €430.61  works out at 1.0765

bobfromlondon

Do any of the knowledgable folk here have a view on the money-transfer firm with the best support? I am trying to send money to to a firm in the USA  and I cannot get the fields to match the transfer information provided. For example - I have an account with the firm, the firm has a client's account at a bank and branch. 
I tried Transferwise, but they do not seem to have a phone or email. Just robo advice which doesn't fit.
I am not likely to do this a lot so a small difference in rates won't bother me.

colsten

Here's what Google says.

hickie

Since Brexit overseas banks are charging any transactions from UK accounts for the pleasure. I have been paying 200 euros to a person in Spain for a villa rental and the last payment he was charged 21 euros by his bank. Is there a way round this?????

jbrassy

hickie said:

Since Brexit overseas banks are charging any transactions from UK accounts for the pleasure. I have been paying 200 euros to a person in Spain for a villa rental and the last payment he was charged 21 euros by his bank. Is there a way round this?????

Have you tried using any of the following:
1 - Transferwise
2 - Revolut
3 - Starling Bank

They all offer cheap overseas transfers and offer bank accounts denominated in euros. Back in 2019 I sent money to Australia using Transferwise and the Australian bank did not get charged for receiving it.

Using regular high street banks to make overseas transfers is a bad idea. They all charge relatively high fees with poor exchange rates.

robatwork

Transferwise is my "go-to" now, especially since they started paying out within 24 hours. I use it a lot and haven't had a problem with payments to several European countries.

Also used Xendpay in the past without problems.

For such a small amount I wouldn't hesitate to recommend TW - I've sent much much bigger sums through them.