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Honest opinion on changes in TransferWise fees

GBP to EUR fee dropped from 0.5% to 0.38% + 80p

Recently TransferWise announced various changes in their fees under very catchy title: “Mission Zero”. What does it mean for us who are their customers? Despite of the title you can actually get even slightly higher fees depending on currencies you convert and money upload method you use. These are main points to cover in this review post:

  • Lower fees for most popular destinations with minimal fee removed
  • Fees for debit and credit card payments increased
  • Fees for several destinations will increase as of January 2018

Let’s dive into details. Continue reading

How to open bank account online for free with TransferWise?

Searching for an easy, quick and cheap way to receive and send money internationally? The new TransferWise service named Borderless account has it all covered. You can open a bank account online, hold and manage money in 15 different currencies on it.

TransferWise is an international company which has bank accounts in most parts of the world, so they are using peer-to-peer technique, providing very low fees for currencies conversion.

Borderless account is their newest service introduced this month, which allows you to open a bank account quickly online in order to have money deposited on it. This makes it great to be used by expats, freelancers, business owners and whoever has the need for international transactions. Continue reading

TransferWise introduces Facebook Bot to make transfers easier than ever

TranSending money abroad can be pain if you not aware of right tools. Banks, services like Western Union and other “classical” big players on the market usually have non-competitive currency exchange rates and high fees. Fortunately there is a new way of sending money overseas – peer to peer payment services. TransferWise is number one choice in most of cases. It’s online peer to peer financial service that is transparent and legally regulated business. Over £800 million passes through TransferWise every month and it’s used by private persons, businesses and banks like N26 and LHV.

Recently TransferWise announced their new feature that will allow sending money abroad event easier than before. They created Facebook chat bot application that resides in your Facebook messenger on your smartphone or tablet. TransferWise Bot is available for all existing customers and it can become your personal assistant in money transfers. It can do many things, lets quickly review how it can make your life easier. Continue reading

CurrencyFair giving away free flight home for Christmas

CurrencyFair free flight home for Christmas draw

CurrencyFair found an extraordinary way to promote their services by giving free flights home for Christmas to one of their customers. The promotion is available for new and existing customers and CurrencyFair will cover the costs up to €5,000 (or currency equivalent). From what they say you can take your partner with you as well. Not sure if you can take more family members but this sounds as great deal anyway.

What you need to do is just register an account and make your first transfer in order to enter into the draw. If you are existing customer then you can get counted in by referring a friend.

>>> Find out more and enter into the draw <<<
Be quick! The promotion is valid till December 18th!

That’s quite interesting turn that means these guys are very serious about pushing forward their P2P services. I think this is a good reason to try CurrencyFair. Why not?!






CurrencyFair vs TransferWise: 5 important aspects to compare

Transferwise vs. CurrencyfairWhen I first started sending money overseas, I made sure to do plenty of research to find out the best peer to peer payment providers that I could use. My basic criteria were that the company should be legal, easy to access, safe, and have no hidden fees or charges. My final choice came down to TransferWise vs. CurrencyFair, and I made the decision to go with TransferWise. Here are the five reasons that made my choice possible. Continue reading

How to use Transferwise

Making payments with Transferwise is very straight forward. Their website has intuitive and simple interface and the entire process takes just a couple of minutes. In order to place your order you need:

  1. Select currencies you like to send and receive
  2. Provide the amount you would like to send
  3. Fill in recipient’s account details (same as for regular bank transfers)
  4. Open a new browser window and login to your internet bank. You’ll need to make a regular bank transfer to the account provided on your Transferwise payment confirmation page. Make sure you put a correct reference number as it’s used to link your bank transfer with your Transferwise payment.

For your regular payments I would recommend to save the recipient details in order to speed up your further payments.

>>> Learn more at Transferwise and forget about high fees!<<<

There is a nice video that illustrates entire process.

Is Transferwise safe?

Transferwise is safe

Safety is one of the most important aspects of anything related to your money. It’s natural to be extra careful and try to get as much details as possible when looking for online financial service. If you are reading this article then most probably you have questions about Transferwise. Is it secure and reliable partner for your money transfers? Yes, it definitely is and this article reveals various facts that proves that.

Continue reading