Large International Money Transfers Discussion area

Turning_into_scrooge

jasonrat wrote:

hi i need to transfer £2000 to thailand anyone know of the cheapest way please. the person i'm sending it to doesnt have internet access or an email. thx

My son transfered his money to a bank in Bangkok thought Halifax, never again, first they stuffed up the IBAN then they forgot to tell us of other charges and when it got there it was £50 less due to exchange rate and thai bank charges than it should of been. We have since found another web site to transfer from which will cost no more than£15 and will get there in approx 3 days max but sometimes the thai banks slow it up to approx 7/10 days which is out of their contol. I haven't got the website to hand at the mo, its on a different pc but i will post on here tomorrow, its well worth trying. I take it the other party has acess to telehone as well as that there are loads of internet cafes thoughout thailand with webcam usage as well and a short lesson in how to use it all for quite a small fee. Just something else to think about, my son is lucky as his girlfriend has email and intenet and as one of her courses at Bankok uni is computers they can chat on the net whilst she is there and he is at home, taking into account the 7hour time difference and thank goodness for Martin for finding a webite for international mobile calls at 1p a min, phew, anyway sorry to rabbit on will post back tomorrow.

jasonrat

thx if u could post the website address that would be great. as with most things on the net is there a moneyy transfer compare tool yet?

Turning_into_scrooge

sorry for the delay

http://www.onlinefx.co.uk/fx/Stores/OnlineFX/imt.asp

chateaux

Hi Guys,

I use a number of the services mentioned in this thread and would like to add my bit:

1. moneybookers: I use moneybookers for merchant services on a number of my websites. I must say I admire the way these guys have gone about setting themselves up. Similar to paypal - only draw back are fees charged to draw cash as a merchant, and their system is currently manual i.e. they have manual processes for jobs that could be automated. They are working on their system and I look forward to every new update.

2. NETeller - again I use these guys for merchant services - great for gaming related businesses - high fees though. Totally love their card facility.

3. OZ-PAY Money Transfers - This is something completely different to NETeller and moneybookers. OZ-PAY is using a system that has been available to the top blue chip companies for many years - as an oz-pay customer you can make an instant international transfers at a click of a button and at the shown exchange rate.

For any small to medium business based in multiple countries making and receiving international payments I would look no further. We receive local payments in Spain, Isle of Man, United Kingdom and Australia - our clients pay us into the local OZ-PAY accounts using our oz-pay number as our reference number - as soon as those payments hit the main account the oz-pay system emails us that funds have been received. These funds appear in their own currency and within the bnking system. The nice thing about this is that 1. we dont have to go through the shlep of opening accounts in any of the oz-pay countries 2. we can hold our currency in a local country and then make payments in that local country without having to go back and forth between currencies.

The exchange rates they offer are prety much on par with most other system out there - we are currently saving well over 100K USD per year by using oz-pay over our local bank, not to mentioned the convenience aspect and customer satisfaction due to prompt payments.

OZ-PAY now offer Hong Kong Money Transfers as well as Spanish Money Transfers. The Hong kong account is a difficult one to get so they must be doing something right.

Another advantage over the others is that they are Isle of Man based with Isla of Man accounts which means any company with a shrewed accountant can take advantage of this little factor.

So to wrap it up: All of the above will save you money - it just depends what your purpose is. My recomendations would be as follows:

Small payments, no time constraints - go with moneybookers.

Running a business with multiple payments and require a proper banking system to handle this, then with out a doubt go with OZ-PAY Money Transfers. Once they have their debit and credit cards you will have all the tools you require to run a slick international operation.

A gaming merchant or you want a no nonsense debit card - then go for NETeller.

If you have any systems that you use let me know - I am always interested.

BullyBoy_3

schiff wrote:

I've sorted out these problems with the great help of innovate.

moneybookers looks very promising and has risen in my estimation higher than the others I've used/looked at - co-op bank, moneycorp and 4X.

Not gone the whole hog yet with an actual xfer but it's looking good.

Hi. New to this forum but looking to transfer money to Oz as part of the emigration process. I too like the look of moneybookers due to the simplicity of the process. Can anyone tell me what the Send Money 1% (up to GBP 0.40) means ?

If I'm correct, is the process as follows (with charges)..

My Bank to Moneybookers FREE
Moneybookers to Oz £0.40 (money to send converted to $AUS)
Oz Moneybookers to Oz Bank £1.30

Is this correct ?

Would be great to understand this and also where the exchange rate is on the website. HELP !!!!!!!

BullyBoy :mad:

sylviesinc

This probably isn't the correct thread so forgive me. We will soon be travelling in Europe for several months at a time, only returning to UK for short periods. We need to open a Euro bank account that will accept pensions being paid into it from UK. Any ideas where I start? I have heard that banks in Jersey are the best bet. Would anyone agree?

innovate

You could try Britline

I have no personal experience with them, but if you search the Forum for Britline, you should find a couple of people who are banking with them.

grumbler

sylviesinc wrote:

We will soon be travelling in Europe for several months at a time, only returning to UK for short periods. We need to open a Euro bank account that will accept pensions being paid into it from UK.

Why do you need euro account? What's wrong with UK ££ account? Nationwide flex account is the best for this: The cheapest way to spend overseas: save 6%

sylviesinc

Thanks to you both. I had a look at Britline and it has a lot of charges, also its mainly for people in France and we'll be all over Europe.
Nationwide looks a good bet as long as they keep the free service indefinitely.

maximus78

hallo MSexperts!!!
I need some help overnight before 17:50 pm of monday!!

I need to take approx a thousand Pounds (in euros) to Italy:
M&S would sell me EUR 1390.00 (1.39 ex rate) but cash in hand as I am flying on early Tuesday moorning,
Currencies Direct would sell EUR 1440.00 (1.43) but I didn't really have the time to read all its T&Cs, and I don't know how quick and cheap is gonna be.

50 euro are aprox 35 pounds!!!

do you know any cheaper and practical way to change my money?
thanks