Sterling to Euros

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martyn94
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Sterling to Euros

Post by martyn94 » Tue 24 Oct 2017 12:22

I just got an email shot from Transferwise saying that they have dropped their commission to 0.35% (minimum £0.80) from the previous 0.5% (minimum £2). I don’t know whether they are absolutely the cheapest, but I suspect that it’s not worth spending a lot of time searching.

As I always say, I have no financial interest in their success or failure, beyond the hope that they don’t go bust in the middle of one of my transactions.

Richard and Sharon
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Post by Richard and Sharon » Tue 24 Oct 2017 15:44

That sounds a reasonable deal.
I use a couple of exchange companies, one being FC Exchange. They have been very competitive, but recently I noticed that their rate was slightly worse than my partner got the from another company earlier in the day, so told them that. (all deals are done on the phone with better rates for larger amounts) Surprisingly, they did me a better deal on the spot!
A reminder to me that, if its just about price, you have to keep shopping around and, that you can nearly always haggle, even if its just for the fun of it.
I will also compare Transferwise against my usual suspects next time. Thanks.

SteveB
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Post by SteveB » Tue 24 Oct 2017 18:44

I always use Transferwise, having found that they offer better rates than anyone else even with their current charges.

martyn94
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Post by martyn94 » Tue 24 Oct 2017 19:14

Richard and Sharon wrote:That sounds a reasonable deal.
I use a couple of exchange companies, one being FC Exchange. They have been very competitive, but recently I noticed that their rate was slightly worse than my partner got the from another company earlier in the day, so told them that. (all deals are done on the phone with better rates for larger amounts) Surprisingly, they did me a better deal on the spot!
A reminder to me that, if its just about price, you have to keep shopping around and, that you can nearly always haggle, even if its just for the fun of it.
I will also compare Transferwise against my usual suspects next time. Thanks.
One of the advantages of Transferwise is that you just do it on line (their app is now pretty good):no phoning. And thank god no haggling. And of course no need to know what “their rateâ€￾ actually is: you just get the middle-market rate, and the only time I was curious enough to check, it was spot-on.

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