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Currency converter

Re: Currency converter

Postby Paul Uden » Sat Feb 26, 2022 11:24 am

Paul M wrote:
jpeg wrote:If you look on COMPARE on the Wise site it will compare the rates of most of the others and they are always a better deal than Moneycorp your legal team get commission for getting you to use Moneycorp


When you do a currency conversion, the NET sum you receive into your bank is always marginally better with Moneycorp than with Wise.


I was interested in your assertion, as we all want the best deal, so just did a 'simultaneous' conversion of £10,000 into euros. The net from Moneycorp was €11,635.50 (1-3 days). From Wise it was €11,855.96 (a few seconds). So yes, the difference is relatively insignificant for smaller amounts, but I'd still use Wise every time, for speed if nothing else.
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Re: Currency converter

Postby Paul M » Sat Feb 26, 2022 11:45 am

Very surprised at that huge disparity of €250 euros! Are you sure that’s the net sum from Wise? My MC transfers go through instantly (a few seconds) maybe it’s different when you’re an account holder.

I mostly use Wise now because of the MC IBAN issue but I’ve always found the net sum is more with MC.
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Re: Currency converter

Postby Paul Uden » Sat Feb 26, 2022 1:29 pm

Paul M wrote:Very surprised at that huge disparity of €250 euros! Are you sure that’s the net sum from Wise? My MC transfers go through instantly (a few seconds) maybe it’s different when you’re an account holder.

I mostly use Wise now because of the MC IBAN issue but I’ve always found the net sum is more with MC.


Definitely both 'net' yes but I'm not a MoneyCorp account holder.
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Re: Currency converter

Postby Paul M » Sat Feb 26, 2022 1:36 pm

Ha! And the upshot of all this is that I’ve just tried logging into my MC account to make the comparison and it looks as though they’ve closed it due to inactivity!

I do use Wise now anyway due to UK IBAN issues but it looks as though I no longer have the choice.

Thank you for your input Paul, another good reason for everyone to use Wise.
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Re: Currency converter

Postby costalad » Sat Feb 26, 2022 1:59 pm

All will have their favourites but I signed up with Money Corp and 2 others, then bid them against each other, I did end up with MoneyCorp after a lot after many calls all within about 10 minutes. But there was quite a few thousand in my favour from their first offer. Then within minutes another company called with a slightly better offer again although by then I had traded at a deal that I thought was about right.
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Re: Currency converter

Postby Paul Uden » Sat Feb 26, 2022 3:06 pm

Paul M wrote:Ha! And the upshot of all this is that I’ve just tried logging into my MC account to make the comparison and it looks as though they’ve closed it due to inactivity!

:text-lol:
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Re: Currency converter

Postby daz » Sat Feb 26, 2022 10:42 pm

Another reason to consider is, that anybody in business such as your lawyer, may have a business interest (commission) in recommending certain products to customers such as your self.

I use wise, and I’m very happy with the results.

But, just do your own research and do what’s best for you. Good luck.
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Re: Currency converter

Postby Patriciaann » Sun Feb 27, 2022 8:20 am

Thank you again for all your replies
As the money is coming from a house sale , I need to be extra vigilant
and use the best company I can

Thanks to you all
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