Money transfer company
Money transfer company
Just spending a happy Boxing Day reconciling my bank accounts when I noticed that Nationwide have sneakily upped their fees for foreign money withdrawals and expenditure .
I know quite a few people have mentioned using money transfer companies in the past so I'd like recommendations please for someone to use for a monthly transfer to Spain. I have heard that they generally give good rates of exchange without fees ... is this really the case?
I know quite a few people have mentioned using money transfer companies in the past so I'd like recommendations please for someone to use for a monthly transfer to Spain. I have heard that they generally give good rates of exchange without fees ... is this really the case?
- country boy
- Andalucia Guru
- Posts: 2829
- Joined: Mon Jun 28, 2004 9:49 pm
- Location: U.K. (prev Pizarra 2000/2020).
Re: Money transfer company
It looks fairly simple to set up. I'll have a proper look when I need to make my first payment, thanks!
Re: Money transfer company
Another vote for currencyfair.
I haven't used it for regular transfers just usually twice a year. They charge €3 per transaction and have better exchange rates than banks.
Cheers
Gerry
Cheers
Gerry
I haven't used it for regular transfers just usually twice a year. They charge €3 per transaction and have better exchange rates than banks.
Cheers
Gerry
Cheers
Gerry
Gerry Harris
Re: Money transfer company
Used currencies direct several times. Always excellent service
Re: Money transfer company
+1 for Currencyfair
The invite I have just sent you gets you and me 30€
The invite I have just sent you gets you and me 30€
-
- Resident
- Posts: 895
- Joined: Mon May 01, 2017 12:06 pm
- Location: Madrid
Re: Money transfer company
Get a Revolut Pre pay Debit Card for all your electronic spending i.e. paying by card in a shop or online shopping.
They charge zero transfer fee and the exchange rate is the interbank spot rate (the rate the banks use to trade with each other, ) . They also allow you to withdraw a limited amount of cash every month for no fee
So you basically use your UK debit card to load the card with money and then you exchange it to EUR at the rates the bank use to deal with each other. You can set up auto top ups so no need to keep a large balance and also you get alerts on your phone the moment the card is used. You can also freeze the card on your phone and only unfreeze it when you want to use it, so preventing fraud.
Thus ends the sales pitch...in short it's great and exchange rates cannot be beaten,
They charge zero transfer fee and the exchange rate is the interbank spot rate (the rate the banks use to trade with each other, ) . They also allow you to withdraw a limited amount of cash every month for no fee
So you basically use your UK debit card to load the card with money and then you exchange it to EUR at the rates the bank use to deal with each other. You can set up auto top ups so no need to keep a large balance and also you get alerts on your phone the moment the card is used. You can also freeze the card on your phone and only unfreeze it when you want to use it, so preventing fraud.
Thus ends the sales pitch...in short it's great and exchange rates cannot be beaten,
Re: Money transfer company
I never got that Lyric.Lyric wrote:+1 for Currencyfair
The invite I have just sent you gets you and me 30€
Re: Money transfer company
I'll try again, it went to your e-mail address
Last edited by Lyric on Thu Dec 27, 2018 1:24 pm, edited 1 time in total.
-
- Andalucia Guru
- Posts: 3584
- Joined: Tue Feb 27, 2007 8:20 pm
- Location: Merseyside, formally Torremolinos
Re: Money transfer company
I have also used Currencyfair. Very satisfied.
Don't worry about what people think, they don't do it very often
"Acquiring a dog may be the only opportunity a human ever has to choose a relative," Mordecai Siegal 1935-2010.
"Acquiring a dog may be the only opportunity a human ever has to choose a relative," Mordecai Siegal 1935-2010.
Re: Money transfer company
ThanksLyric wrote:I'll try again, it went to your e-mail address
It's good to get so many recommendations for the same company. I shall certainly use them for my next transfer. I aim not to use the Nationwide account now for any foreign transactions as their fees are just too high, but we have to have a UK account and now cannot open a different one without an address there, so we're a bit stuck with them.Miro wrote:I have also used Currencyfair. Very satisfied.
Re: Money transfer company
Just found this regarding the referral bonus:
Your referral bonus will be applied once both accounts have been fully activated and the person who has been referred has completed an exchange and transfer of at least 2,000 EUR or equivalent.
Your referral bonus will be applied once both accounts have been fully activated and the person who has been referred has completed an exchange and transfer of at least 2,000 EUR or equivalent.
Re: Money transfer company
Seconds ago I initiated the Management's monthly transfer and saw the same thing. Don't suppose I'll be getting 30€ anytime soon.
Re: Money transfer company
It's quite simple.
Wicksey transfers €2000 to Lyric
Lyric transfers the €2000 back to Wicksey.
Cheers
Gerry
Wicksey transfers €2000 to Lyric
Lyric transfers the €2000 back to Wicksey.
Cheers
Gerry
Gerry Harris
Re: Money transfer company
Well one of us hasn't got that much on our shoestring readily available.
Re: Money transfer company
Can current users of this company say if any local bank charges are paid by the company or does the account holder be responsible for them. Some years ago we used HiFX who were excellent and paid all charges so that their transfer was completely free ... our bank can have a habit of charging commission on large international transfers, even euro to euro !!!
Re: Money transfer company
When you transfer the money from Currencyfair to your bank, Currencyfair deduct €3 from the amount being transferred.
Never had any local bank charges or any other charges except for the €3 as I have already mentioned.
Cheers
Gerry
Never had any local bank charges or any other charges except for the €3 as I have already mentioned.
Cheers
Gerry
Gerry Harris
Re: Money transfer company
Wicksey wrote:ThanksLyric wrote:I'll try again, it went to your e-mail address
It's good to get so many recommendations for the same company. I shall certainly use them for my next transfer. I aim not to use the Nationwide account now for any foreign transactions as their fees are just too high, but we have to have a UK account and now cannot open a different one without an address there, so we're a bit stuck with them.Miro wrote:I have also used Currencyfair. Very satisfied.
Have you looked into opening a uk account.as before it was near impossible (although illegal on the banks side) but more recently quite alot of banks have started offering basic accounts for non uk residents
Who is online
Users browsing this forum: Google [Bot], Google Adsense [Bot] and 116 guests