Re: CURRENT MONEY TRANSFERS FROM ENGLAND
Posted: Mon Oct 30, 2017 8:05 pmEspanabums wrote:When getting quotes for currency exchange you really need to forget about rates and fees and just look at what sum you will receive in the new currency. IMHO you will not get a better deal than one of Transferwise, Currency Fair, or OFX. Just have all of them open on your browser, or app on your phone, and compare the three side by side and decide on the best result.
175 GBP for a transfer of 50,000 GPB is only .0035% and so if the exchange rate is better than other FX companies you will still be quids in, so don´t get hung up on the fees or exchange rate just compare the bottom lines.
Spot on! BUT so many FX companies advertise "fee free" transfers and then take their fee by giving a lower exchange rate, or hiding interbank charges in the small print. When one of my mates said he could get a better rate than TransferWise, because his FX company was "fee free", I asked him how they were staying in business? He's still thinking about it......
