Transferwise

[Brian8bit]

So while looking into bank transfers and associated fees the other day, I came across this website called Transferwise. Anyone use or used it?

Transferwise
How it works
FAQs

From the FAQs;

How much does it cost to use TransferWise?
TransferWise charges 1 GBP/EUR for the first 300 GBP/EUR exchanged and a small fee for anything above that. You will see the fee quoted at the beginning of the transaction.

Transferwise looks into Europe's worst exchange rate.

I thought this might be interesting for our members since there's trading going on between the UK and Eurozone. And when talking with Lenny_Nero he mentioned his bank was intending to charge him 17 to 30 GBP for a transfer to Germany. I know others banks charge fees as well for transferring between the UK and Eurozone (such as my own), so in that case something like Transferwise really does make sense. Particularly as it's unlikely any of us would be selling privately and in bulk over £300/€300.

Oh, it doesn't work with Paypal as they take fees and it defeats the purpose of Transferwise. This is predominantly for people who trade using bank transfers.

[trax]

Im from belgium and when sending money to the UK i send euros instead of pounds, alot cheaper than sending pounds.