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Old 26.08.2013, 20:46
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TransferWise - Currency Transfer

Just wanted to share my recent experience of completing a money transfer from UK to CH.

After checking with my banks and realising how much I would lose in exchange rates, I decided to look for another option. After a bit of research (mainly through http://www.moneysavingexpert.com/) I decided to give TransferWise a go:

http://transferwise.com/

It is a peer to peer currency service with low fees and they use the mid-market rate. A reasonable explanation can be found on Money Saving Expert: (scroll down to the TransferWise section)
http://www.moneysavingexpert.com/ban...rency-exchange

You have to prove your identity by sending copies of documents (passport or ID, proof of address), but this can be done by sending a photo of the documents. Once they varify your identity they´ll send confirmation. I found the service pretty good, I received e-mail confirmation with an estimated delivery time of the money into my CH account and then confirmation once the transfer was complete.

Anyway, my experience of this service was positive and I saved hundreds of pounds compared to if I had sent the money via my bank.

Last edited by 3Wishes; 23.11.2014 at 14:48. Reason: removed referral portion of link
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  #2  
Old 26.08.2013, 21:00
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Re: TransferWise - Currency Transfer

I use www.currencyfair.com which offers the same service. Very happy with ease of use.
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Old 22.10.2013, 15:16
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Re: TransferWise - Currency Transfer

I've used Transferwise for quite some time now, and have by now saved quite a few thousands in total by sending between the UK and NL. Very happy to see it's also available in CH!
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Old 22.10.2013, 15:59
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Re: TransferWise - Currency Transfer

Here we go again!

For anyone else who just wants to cut through the crap.

TransferWise is peer to peer with a twist, they charge 0.5% each way or 1% spread. So though competitive it's not the best out there.

Edit: +1 to the moneysavingexpert link
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Old 25.10.2013, 13:23
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Re: TransferWise - Currency Transfer

So... who is the most competitive ?
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Old 21.01.2015, 10:26
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Re: TransferWise - Currency Transfer

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So... who is the most competitive ?
Interactive Brokers wins hands down every single time
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Old 21.01.2015, 10:27
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Re: TransferWise - Currency Transfer

Quote:
Interactive Brokers wins hands down every single time
While I never used IB, I did manage to get rates ABOVE the mean rate using currencyfair´s marketplace!
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Old 21.01.2015, 10:29
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Re: TransferWise - Currency Transfer

Quote:
Interactive Brokers wins hands down every single time
They are useful when you have a large outflow of money, right? Otherwise their maintenance charges seem quite high.
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Old 16.02.2016, 13:36
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Re: TransferWise - Currency Transfer

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So... who is the most competitive ?


I use Interactive Broker to change money myself and then transfer it to the bank account. The bid-ask spread is very tiny and they charge very little commission (max 2$ per transaction)


Cheers
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Old 16.02.2016, 14:13
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Re: TransferWise - Currency Transfer

Quick question - Can I use a postcard to pay if not an I use the option on say transferwise (not check currency fair yet) of moving money to their account via my online banking (PostFinance) do I not lose the advantage as I pay the fees on the transfer to them?
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Old 30.06.2014, 15:34
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TransferWise

Have anyone ever used TransferWise sending money to / receiving money from your home country? Is it reliable? Tks.
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Old 30.06.2014, 15:46
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Re: TransferWise

See this thread from April this year for some recommendations for the TransferWise service, amongst others: Transferring money back to the UK
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Old 30.06.2014, 16:08
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Re: TransferWise

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Have anyone ever used TransferWise sending money to / receiving money from your home country? Is it reliable? Tks.
While I prefer currencyfair for many reasons, I also used transferwise before and, yes, they are (both) reliable.
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Old 06.01.2015, 14:40
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Transferwise

Anybody got any experiences with this outfit.

Yes I did use the search function but neither Transfer wise nor Transferwise came up with anything useful.
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Old 06.01.2015, 15:01
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Re: Transferwise

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Anybody got any experiences with this outfit.

Yes I did use the search function but neither Transfer wise nor Transferwise came up with anything useful.

Yes. Recommended.

Use the google powered search for a better results list
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  #16  
Old 06.01.2015, 15:05
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Re: Transferwise

Yes, we've used them quite a few times. Easy, cheap, quick, no problems at all.
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Old 06.01.2015, 15:10
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Re: Transferwise

I have used them and the first time was VERY slow (made a transfer to Canada before they were officially IN Canada. Now they are, so problem solved). But Customer Service was extremely attentive and no problems since then. It is very cheap, and I highly recommend them now. Sir Richard Branson is an investor, and seems to help with their marketing a lot, so they are pretty serious.

fduvall
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Old 06.01.2015, 15:37
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Re: Transferwise

+1 for Transferwise. I have been using them regularly over the last 3/4 months without any issue. The first transfer took about 48 hours. After that, all transfers have been complete in the same day. I guess the fisrt transfer takes longer as they have to authenticate all the docs that you upload to create an account.
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Old 17.01.2015, 12:16
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Re: TransferWise - Currency Transfer

I used transferwise a couple of times to transfer savings from CH to Poland and I've been always happy with the service. I don't recall that I had to prove my identity of something else. There was only a condition that a sender's and a receiver's accounts have to have the same holder.
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Old 15.03.2016, 23:27
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Re: TransferWise - Currency Transfer

How about HIFX ?

Some reviews say that HIFX is better than transferwise if you are transfering large sum of money
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