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Cheap way to transfer money?

January 8th, 2006, 4:21 am

my parents are sending me yen from japan to canada. what are some cheap ways to send it without being ripped off by the spread?
 
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ckarakus
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Joined: October 28th, 2004, 8:05 am

Cheap way to transfer money?

January 8th, 2006, 10:11 am

related to this,does anyone knows whether it is reasonable to use Swift transactions(wrt cost) to send money from your London bank account?
 
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ppauper
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Cheap way to transfer money?

January 8th, 2006, 5:36 pm

Something like Paypal perhaps ?QuoteIf your transaction involves a currency conversion, it will be completed at a retail foreign exchange rate determined by PayPal, which is adjusted regularly based on market conditions. This exchange rate includes a 2.5% spread above the wholesale exchange rate at which PayPal obtains foreign currency, and the spread is retained by PayPal. The specific exchange rate that applies to your multiple currency transaction will be displayed at the time of the transaction. I'd be curious to know if that's a good method or not
 
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tagoma
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Cheap way to transfer money?

April 9th, 2014, 2:32 pm

Has anyone ever used Transferwise.Online currency converting/money transferring made almost free.What's the trick?
 
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daveangel
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Cheap way to transfer money?

April 9th, 2014, 3:41 pm

QuoteOriginally posted by: tagomaHas anyone ever used Transferwise.Online currency converting/money transferring made almost free.What's the trick?the spread..
knowledge comes, wisdom lingers
 
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ppauper
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Cheap way to transfer money?

April 9th, 2014, 5:19 pm

I looked at GBP-EUROone way the rate was 1,206.31 the other 1,218.41
 
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Cuchulainn
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Cheap way to transfer money?

April 9th, 2014, 5:56 pm

QuoteOriginally posted by: daveangelQuoteOriginally posted by: tagomaHas anyone ever used Transferwise.Online currency converting/money transferring made almost free.What's the trick?the spread..Wholesale-retail.
65000
 
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tagoma
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Cheap way to transfer money?

April 9th, 2014, 6:01 pm

QuoteOriginally posted by: CuchulainnQuoteOriginally posted by: daveangelQuoteOriginally posted by: tagomaHas anyone ever used Transferwise.Online currency converting/money transferring made almost free.What's the trick?the spread..Wholesale-retail.Damn! I first thought these people just wanted to be good to me.
 
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daveangel
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Cheap way to transfer money?

April 9th, 2014, 7:31 pm

QuoteOriginally posted by: tagomaQuoteOriginally posted by: CuchulainnQuoteOriginally posted by: daveangelQuoteOriginally posted by: tagomaHas anyone ever used Transferwise.Online currency converting/money transferring made almost free.What's the trick?the spread..Wholesale-retail.Damn! I first thought these people just wanted to be good to me.its not a bad price for a retail product.
knowledge comes, wisdom lingers
 
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Cuchulainn
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Location: Ganymede

Cheap way to transfer money?

April 10th, 2014, 5:36 am

QuoteOriginally posted by: daveangelQuoteOriginally posted by: tagomaQuoteOriginally posted by: CuchulainnQuoteOriginally posted by: daveangelQuoteOriginally posted by: tagomaHas anyone ever used Transferwise.Online currency converting/money transferring made almost free.What's the trick?the spread..Wholesale-retail.Damn! I first thought these people just wanted to be good to me.its not a bad price for a retail product.Even better for OEMs.
65000
 
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ppauper
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Cheap way to transfer money?

April 10th, 2014, 6:02 am

QuoteOriginally posted by: ppauperI looked at GBP-EUROone way the rate was 1,206.31 the other 1,218.41so the spread is 1.003%
 
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tagoma
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Re: Cheap way to transfer money?

June 3rd, 2018, 7:11 am

reviving this thread.
so, my friend wishes to transfer each month her/his salary in CHF to some country of the Eurozone.
what are the cheapest options in 2018?  (must be safe...)
transferwise (that i already mentioned back in 2014) remains the best option according to what i've found. total cost rounding 0.035% of the amount sent.
merci!
 
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Traden4Alpha
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Joined: September 20th, 2002, 8:30 pm

Re: Cheap way to transfer money?

June 3rd, 2018, 12:15 pm

reviving this thread.
so, my friend wishes to transfer each month her/his salary in CHF to some country of the Eurozone.
what are the cheapest options in 2018?  (must be safe...)
transferwise (that i already mentioned back in 2014) remains the best option according to what i've found. total cost rounding 0.035% of the amount sent.
merci!
I thought Bitcoin was supposed to do this!
 
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tagoma
Posts: 18835
Joined: February 21st, 2010, 12:58 pm

Re: Cheap way to transfer money?

June 3rd, 2018, 2:01 pm

reviving this thread.
so, my friend wishes to transfer each month her/his salary in CHF to some country of the Eurozone.
what are the cheapest options in 2018?  (must be safe...)
transferwise (that i already mentioned back in 2014) remains the best option according to what i've found. total cost rounding 0.035% of the amount sent.
merci!
I thought Bitcoin was supposed to do this!
Even if my friend agreed BC is a great way to transfer safely the money he earned by the sweat of his brow (!), he wouldn't use it as he dislike it is energy-intensive! :D 
 
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ppauper
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Re: Cheap way to transfer money?

June 5th, 2018, 5:30 am

transferwise is becoming more mainstream, but a round-trip GBP-EUR trade will still cost about 1% (I changed 1,000 pounds to Euros and then back again on their calculator and was left with 990.79 pounds, so averaging out, it costs 0.5% per leg