Global WebPay sending money abroad, any experience?

burnadebt_2

For anything over £75 you have to make a 'deal' with them. You get emailed a kind of contract telling you what rates it will be at etc.. and that you promise to pay them and they promise to pay whoever.

All you have to do is select one of their (UK) banks from the drop down list (hopefully if they have one the same as you, or your bank supports 'faster payments' it will be quicker) and you will get the account details to pay in to.
I made the transfer from my account to theirs via internet banking and it transferred instantly. They then made the payment to my recipient in New Zealand and the whole thing took about 48 hours. No fees what so ever!
Eat that Lloydstsb!!
:j

insurgente

do you open an account online? I'm wanting to send some cash from the US to the UK...but I'm in the UK

been trying to open an XE Trade account but it's taking aaaaaaaaaaagggesss....they keep rejecting my documents

misa.blue

insurgente wrote: »

do you open an account online? I'm wanting to send some cash from the US to the UK...

Hi, yes you register with Globalwebpay online. I registered and sent £50 straight away.

dzug1

Globalwebpay are not doing it for nothing. They are doing it for a cut of the exchange rate.

OK that may be small, it may be large, it may be better than the bank who will also be doing the same thing on top of their published fee, it may be worse.

I'm not passing judgement on them either way - it's just that you need to look deeper than the 'no fee'.

Edward33

burnadebt wrote: »

Have just seen this at the bottom of the page:
© 2010, GlobalWebPay Ltd. All rights reserved. GlobalWebPay is powered by Envoy Services Ltd. Envoy Services Ltd is authorised and regulated by the Financial Services Authority (FSA) of the United Kingdom 502597 as a Payment Institution under the Payment Service Regulations, 2009

Edit: they are authorised as a pmt institution, but that authorisation does not provide for compensation.

libra007

global web pay, used them recently, they chrage low fee 4.75 per transfer now but give you low conversion rates for your money. I am still waiting for confirmation or receipt in Canada nearly 3 days now.

Used HiFx, they charge 9.00 for lesser amounts and give excellent and live current rate and on top, they made the transfer same day to Canada, amazing.

Any

Sorry, found this thread as I also need to send some money abroad. And not a large amount, so I suppose the worse exchange rate wouldn't make up for the massive fees otherwise..

And they gave me quote at £ = 30.5Kc while Czech website gives me best rate at 31.20Kc, so not much of a difference?

I suppose this is the cheapest broker (I didn't find cheaper)? Anyone found any cheaper?
I only need to send £40-£50.. to Czech Republic.

benjus

Any wrote: »

Sorry, found this thread as I also need to send some money abroad. And not a large amount, so I suppose the worse exchange rate wouldn't make up for the massive fees otherwise..

And they gave me quote at £ = 30.5Kc while Czech website gives me best rate at 31.20Kc, so not much of a difference?

I suppose this is the cheapest broker (I didn't find cheaper)? Anyone found any cheaper?
I only need to send £40-£50.. to Czech Republic.

GlobalWebPay is fine - I've used it a few times, but there are much cheaper options when dealing with common conversions like GBP->EUR. In your case I'm not sure.


Skrill / Moneybookers might be cheaper, although the recipient would have to open an account with them as well.


XETrade might be worth a look, although you can't see the rates unless you actually sign up, which tends to put me off.