Money transfer company

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Wicksey
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Money transfer company

Postby Wicksey » Wed Dec 26, 2018 4:46 pm

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 :evil: .

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?

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country boy
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Re: Money transfer company

Postby country boy » Wed Dec 26, 2018 5:16 pm

https://www.currencyfair.com/how-it-works/

Cannot recommend highly enough..5 stars all round!

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Wicksey
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Re: Money transfer company

Postby Wicksey » Wed Dec 26, 2018 5:42 pm

It looks fairly simple to set up. I'll have a proper look when I need to make my first payment, thanks!

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gerryh
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Re: Money transfer company

Postby gerryh » Wed Dec 26, 2018 6:45 pm

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
Gerry Harris

elusive
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Re: Money transfer company

Postby elusive » Wed Dec 26, 2018 6:50 pm

Used currencies direct several times. Always excellent service

Lyric
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Re: Money transfer company

Postby Lyric » Wed Dec 26, 2018 7:08 pm

+1 for Currencyfair
The invite I have just sent you gets you and me 30€

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gerryh
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Re: Money transfer company

Postby gerryh » Wed Dec 26, 2018 7:36 pm

You beat me to it. :cry:
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Paddy Pumpkin
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Re: Money transfer company

Postby Paddy Pumpkin » Wed Dec 26, 2018 8:19 pm

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,

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Wicksey
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Re: Money transfer company

Postby Wicksey » Thu Dec 27, 2018 11:37 am

Lyric wrote:+1 for Currencyfair
The invite I have just sent you gets you and me 30€


I never got that Lyric.

Lyric
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Re: Money transfer company

Postby Lyric » Thu Dec 27, 2018 11:42 am

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.

Miro
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Re: Money transfer company

Postby Miro » Thu Dec 27, 2018 12:44 pm

I have also used Currencyfair. Very satisfied. :thumbup:
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.

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Wicksey
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Re: Money transfer company

Postby Wicksey » Thu Dec 27, 2018 1:29 pm

Lyric wrote:I'll try again, it went to your e-mail address


Thanks :thumbup:

Miro wrote:I have also used Currencyfair. Very satisfied. :thumbup:


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.

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Wicksey
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Re: Money transfer company

Postby Wicksey » Thu Dec 27, 2018 1:39 pm

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.

Lyric
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Re: Money transfer company

Postby Lyric » Thu Dec 27, 2018 2:28 pm

Seconds ago I initiated the Management's monthly transfer and saw the same thing. Don't suppose I'll be getting 30€ anytime soon. :lol:

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gerryh
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Re: Money transfer company

Postby gerryh » Thu Dec 27, 2018 2:47 pm

It's quite simple.
Wicksey transfers €2000 to Lyric
Lyric transfers the €2000 back to Wicksey. :twisted: :twisted: :twisted:
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Gerry
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Lyric
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Re: Money transfer company

Postby Lyric » Thu Dec 27, 2018 3:15 pm

Well one of us hasn't got that much on our shoestring readily available.

Gasman
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Re: Money transfer company

Postby Gasman » Fri Dec 28, 2018 7:16 pm

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 !!!

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gerryh
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Re: Money transfer company

Postby gerryh » Fri Dec 28, 2018 8:03 pm

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.
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Gerry
Gerry Harris

Lyric
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Re: Money transfer company

Postby Lyric » Fri Dec 28, 2018 9:06 pm

Ditto

elusive
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Re: Money transfer company

Postby elusive » Sat Dec 29, 2018 9:11 am

Wicksey wrote:
Lyric wrote:I'll try again, it went to your e-mail address


Thanks :thumbup:

Miro wrote:I have also used Currencyfair. Very satisfied. :thumbup:


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.



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


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