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james_williamson_6544

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grumbler

james_williamson_6544 said:

What is the best way to transfer money overseas?

For small amounts: If I find a card that gives same rate as MasterCard exchange rate for day to day spendings, is that the best deal or something else is better?

How can you transfer money with a card? Yes, you can  send the card and use it for spending or to withdraw money.

Send money abroad: Cheap currency transfers - MoneySavingExpert

km1500

I downloaded the Wise app and use that. They give you a sort code, account number and reference for you to use faster payments from your bank account.

Brie

I've been trying to use WISE to transfer money from Canada to the UK but have so far found it impossible due to the banking system in Canada.  It's an odd thing that Canada and the USA don't use SWIFT/IBANs in the same way a lot of the rest of the world do and that makes transferring money problematic at times.  There is always an intermediary bank that delays payments even with all the automation these days.

Band7

Brie said:

I've been trying to use WISE to transfer money from Canada to the UK but have so far found it impossible due to the banking system in Canada.  It's an odd thing that Canada and the USA don't use SWIFT/IBANs in the same way a lot of the rest of the world do and that makes transferring money problematic at times.  There is always an intermediary bank that delays payments even with all the automation these days.

Did the instructions provided by Wise not work for you? If so, what have Wise said when you reported it to them?

https://forums.moneysavingexpert.com/discussion/comment/79768014/#Comment_79768014

Band7

There are a number of currency transfer comparison sites around on which you can model your intended transfer and find the best deal on a given day.

I usually check on https://www.monito.com/en/compare/transfer/gb/us/gbp/usd/1000

There are also some cashback deals for money transfers but only use those if your bottom line deal still remains the best you can get. One or two of the cashback payers have atrocious exchange rates / charges.

Band7

A quick look at Fexco suggests that they won't tell you what their rates and fees are without you giving them your email address and phone number. Perhaps that is the reason why they don't appear on money transfer comparison sites. IMO, definitely not a contender for the top 5, may be not even the top 10, currency transfer services. Be careful.

PRAISETHESUN

Brie said:

I've been trying to use WISE to transfer money from Canada to the UK but have so far found it impossible due to the banking system in Canada.  It's an odd thing that Canada and the USA don't use SWIFT/IBANs in the same way a lot of the rest of the world do and that makes transferring money problematic at times.  There is always an intermediary bank that delays payments even with all the automation these days.

You shouldn't need to faff around with SWIFT/IBAN - Wise provide you with a CAD denominated account and provide account details to facilitate a domestic transfer using the Canadian banking system as @Band7 says.

eDicky

KellyFiona said:

try xxxxx international payments for larger amounts. I have wired money to Canada with their international payments and the service was excellent. I should have looked for an alternative to my bank years ago. It was faster, cheaper and when I called them - I got to speak to a real person straight away!!!!

Two posts now, both promoting the same unheard of transfer outfit, to me spells SPAM...