Sending Money Overseas article discussion

misa.blue

Olipro wrote: »

your best bet would probably be moneybookers.com - you might need to open two accounts (one UK, one Czech)

Hello, thanks for advice. Will I really need to get new accounts as I already have bank account in Czech and need to transfer there money from my account here in UK..

Just looking at their website, is it right that it will cost me 0.50 Euros to send the money? Or am I reading it wrong?

misa.blue

Ok I just calculated fees on moneybookers.com:

Send Money From: United Kingdom
Sending currency: British Pound
Funding Option: Bank transfer

Send Money To: Czech Republic
Receiving currency: Czech Koruna
Withdrawal option: Cheque Visa Bank transfer

Sending Amount: 1000 Pounds
Transfer Fee: 0.43GBP - British Pound
Total Payable: 1000.43GBP - British Pound
Received amount : 28440.10CZK - Czech Koruna


For the Sender
Account creation FREE
Basic money transfer fee 1% of transaction volume, max. €0.50 (Whatever the amount, you never pay more than €0.50 money transfer fee)
Funding a transfer...
- from a bank account FREE
- from a Debit/Credit Card 1.9%
For the Recipient
Account creation FREE
Withdrawing the money...
- to a Bank Account €1.80
- to a VISA Card €1.80
- by Cheque €3.50

Now one thing that I notice first is the exchange rate which is 28.44 CZK to 1 GBP, well today's rate is around 29.10CZK.
Which is around £20 difference, meaning I will be £20 worse off.

Then the transfare fee £0.43 is good, but what does it mean in recipient : Withdrawing the money .. - 1.80 Euro and so on?

Olipro

you're making the assumption that if you did a SWIFT transfer you'd get the interbank mid-rate (hint: you won't)... of course, it's worth phoning up and asking the bank what rate they'd give, just for peace of mind (in fact, you should call both your banks and ask since sending GBP could work out better than sending CZK)

you'll pay £0.43 to transfer + €1.80 (CKZ equivalent) to withdraw.

zhatorna65

misa.blue wrote: »

Hello,
can you please advise me the cheapest way to pay £1000 into my account in Czech Republic?
In UK I have account with Nationwide who offers SWIFT transfer for £25 regardless the amount transfered.

Checking out http://www.sendmoneyhome.org/ it looks like moneybookers would do it for 50p, GlobalWebPay would cost £4.75, Cashplus Prepaid Gold Mastercard is £3 and MoneyGram is £46.

misa.blue

Olipro wrote: »

you'll pay £0.43 to transfer + €1.80 (CKZ equivalent) to withdraw.

Oli I'm not so good with virtual money and stuff like that. Where axactly will I withdraw the money from?I thought it would be sent to my bank account in Czech Republic..So I will have to pay moneybookers to get money out of my account?
I'm sure I missed something here.

misa.blue

zhatorna65 wrote: »

Checking out http://www.sendmoneyhome.org/ it looks like moneybookers would do it for 50p, GlobalWebPay would cost £4.75, Cashplus Prepaid Gold Mastercard is £3 and MoneyGram is £46.

The website is great, thank you.
I see that Moneybookers charge 1.99%..So prety much like Nationwide charge for this amount.

I explored the option with cheque, and my Czech bank would charge 1% and that is it, think that is good option too.

Just checking out the GlobalWeb Pay, they have free transfers in November, so it would be free!!
Do you have any experience with them?Is it safe? I don't want to end up like Crown currency customers..as I do not understand it much.
What if I transfer my money to them and never see it again :-(

danap

I have seen on uwcfs.com that in DEC2010 transfer money to any world destination free of charge :j:T - I hope it would help somebody.

[Deleted User]

danap wrote: »

I have seen on uwcfs.com that in DEC2010 transfer money to any world destination free of charge :j:T - I hope it would help somebody.

Spam. Reported.

Russ1000

Hi,

What's wrong with sending a cheque to the USA to pay my wives bills? Just need to get 800 GBP from my account to her USA account.

Help, Thanks

dzug1

Russ1000 wrote: »

Hi,

What's wrong with sending a cheque to the USA to pay my wives bills? Just need to get 800 GBP from my account to her USA account.

Help, Thanks

It's expensive and slow and may be against the T&C of one or other of the accounts