Sending money overseas discussion area

bryan

Does anyone know a cheap way to send money frequently to Africa or the former Eastern Europe?

Bryan Hilton

mikehage

Why is it so difficukr to open an account with an American Bank for use whilst in the states? Surley my UK bank can vouch for me and transfer the money as requested. I can pay easily be credit card even on the phone

garrapata

So far we've been using InstaMoney http://www.instamoney.co.uk and we haven't had any problems.
We send money to Argentina, and the exchange rate is not bad and their fee is a fraction of the others (MoneyGram or Western Union). I think it works out something like £5 for up to £300.
They can either send money to collect or can be deposited into a local account (I always use the latter).
I can't use Paypal, because money can't be withdrawn there.
Hope it helps.
---
I have to say, that since this post, things have changed... for the worse. Their fees are higher, and the service is awful.
My last transaction took *2 MONTHS* to reach destination, despite their 48 hour promise. And their customer service is not even worth mentioning, they never know anything!
I'm really disappointed and I don't think I'll be using them again. I thought I should let you know.

grumbler

mikehage wrote:

Why is it so difficukr to open an account with an American Bank for use whilst in the states?

Why is it so difficult for non-resident to open an account with UK bank? Because of money laundering regulations...

mikehage wrote:

Surley my UK bank can vouch for me and transfer the money as requested. I can pay easily be credit card even on the phone

What advantage do you expect to have with an american card? Transfering £s to american account involvs currency exchange charges. If you desperately need $$ account you can have it with Citibank (UK).

khiahav

If you are needing to send money to Australia, South Africa or New Zealand the best option I have found by far is a website called https://www.easyexchange.co.uk. It is an £8 pound fee no matter how much you send, and takes roughly 5 working days to reach the account you are sending to.
I have been using this site for over 2 years and have never had a problem!
Highly recommended. :T

HLK

meehank wrote:

This is exactly what I am trying to set up - a regular payment mechanism, transferring money from UK to a locally held bank account in Austria. Thanks for the tip, I will definitely look into it. :rotfl:

Meehank

I'd be grateful if you let me know how you get on .. Looks like we are in a similar situation.

Lila_3

Hi, I unlike most people on here need to transfer from a Canadian bank account to a UK bank account, anyone have any experience of this???

Thank you

Leprechaun_2

Further to transferring money abroad which I have just done via Currencies Direct at what appears to be a good rate, jst over 1.46 GBR to EUR I also need to set up a Spnaish Bank account. I am looking for one that has no charges, interest and access via a card. I'd be grateful if anyone has any suggestions.

widow43

amdunn wrote:

You can remove most of the charges with the PayPal model. I use this method regularly so I know it works! I have a UK and French Bank Account and often need to transfer money to my French account in Euros. I have 2 PayPal accounts. I make payments by DIRECT DEBIT from the UK PayPal IN EUROS to my French PayPal account. Using Direct Debit, there are no charges for the transfer (exept the loading within the exchange rate) and you must remember to transfer the funds in Euros not Sterling. The French PayPal account is not upgraded to either a premier or business account. On this basis, there are no charges for receiving funds in Euros or for transfering the funds to my French bank account.

Using the above, transfering money between 2 people becomes very inexpensive.

Andy

Hi Andy, Thanks for this tip - one i shall try! But can't seem to change the language to English?????

BarginHunter1985

Hey I need to transfer money to a bank account in Prague, apparently this has to be done by international wire transfer. Can anyone give me advice in doing this

Thanks

Sab