Sending money overseas discussion area

hopberni

I send my son in Australia a monthly allowance via PayPal. I usually send it as UK£ - however this last time i sent £555 and he received 980AU$

I tried sending 100AU$ and it cost me £48.20 and he paid 4AU$ at his end.

Which way will ensure that we get the best deal - or does it work out the same?

I have read Martin's article on PayPal but he doesn't include this - i have assumed he thinks we put in the currency of the country we reside in.

System

We recently used HiFX to transfer money for the purchase of a foreign property. We told them how many euros were required and they told us how much we had to pay them.

This worked fine without any hitches with them but the Notar into whose account the funds was paid have now told us that they require more money as they did not receive the full amount. Looking at the document they have emailed to us it looks as though their bank has imposed a 1% charge for receiving the funds although no charge is actually mentioned. The document details the full amount of the transfer but their account was only credited with 99% of the money.

So has anyone else had this experience, is it normal and are we indeed liable for the charge their bank appears to have levied to receive the funds?

greybuffalo

Has anyone a clue,whats the lest expensive way of sending some money to the Philippines?please
Must be safe as well!

jonesMUFCforever

What is your idea of a fair price?

greybuffalo

Well,like £6 on a hundred would be fair,moneygram @ £12 is a total rip off by the banksters

jonesMUFCforever

Most banks will charge you around £20 for an International payment.

nannu02

Need to transfer about money approx 50,000 pounds to US .What is the best option .

inmypocketnottheirs

nannu02 wrote: »

Need to transfer about money approx 50,000 pounds to US .What is the best option .

Open both a sterling and dollar account with Citibank, https://www.citibank.co.uk. You get both a sterling and a dollar cheque book, your visa debit card can be switched between accounts with immediate effect just by making a phone call. Also you can transfer funds immediately on line between sterling and dollars. You can also open a dollar deposit account.

HTH

nannu02

Will they charge me for transfer and how good the exchange rate they give .

inmypocketnottheirs

No charge for the transfer. Rate today 1.93496.