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Anyone used TransferWise? I tried them in Jun but had trouble getting the charge to go through to my checking account. I just tried with their Android app and it says it is in progress for 47.49 PHP to USD. $0.00 fee. There is a 1 week wait with this service.

 

Edit: Investigating further, the first transfer is free. Then it's low cost overall. Example: US $1000 for $9.95 fee BUT the exchange rate is 1 peso higher or more to what I would get at any other transfer service. So I save 1000 pesos (roughly US $21) and gain $11 AND their fee over another transfer service. So, $16 ahead vs Xoom specifically.

Edited by GregZ
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  • 1 month later...

 

 

Anyone used TransferWise?

 

I haven't. But, I am curious as well. How'd it go?

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Sorry meant to come back and update. I've used them 7 times now. If done on a week day it takes just 24 hours straight from bank to bank. I'll only use them now. My experience anyway USA $ to PHP.

 

If you want to try you can get your first transfer free. Up to $2800 equivalent. You'll need your bank info (including online signin) and a destination account in your target currency. Get a link from a current user.

 

I'll PM you one if you like. It is a referral program if you know how those work. You get a free transfer. I get some kind of credit. I don't recommend them because of the credit. I recommend them because they are saving me money.

Edited by GregZ
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Mattnlenny

You need to give them the online signin to your internet banking?

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You'll need your bank info (including online signin)

 

Are you serious? Personally, NO F**KING WAY!

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You'll need your bank info (including online signin)

 

WHAT!!!!!

 

Is this a Nigerian resident company?

 

Change your bank password immediately (while you still have some cash remaining in your bank account!)

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TheWhiteKnight

WHAT!!!!!

 

Is this a Nigerian resident company?

 

Change your bank password immediately (while you still have some cash remaining in your bank account!)

 

I don't think that's actually correct. I haven't used it yet, but I don't read anything about that.

 

Transferwise from all I've read truly is the best way to send money. They give you a cheap fee, and THE EXACT EXCHANGE RATE for that day. It's a UK company.

 

All these "free" services and other crap discussed here is only cheap or free because the actual exchange rate they give you is shit. That is not the case with Transferwise.

Edited by JeffPH
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I don't think that's actually correct. I haven't used it yet, but I don't read anything about that.

 

Transferwise from all I've read truly is the best way to send money. They give you a cheap fee, and THE EXACT EXCHANGE RATE for that day. It's a UK company.

 

All these "free" services and other crap discussed here is only cheap or free because the actual exchange rate they give you is shit. That is now the case with Transferwise.

 

edit.

OOPS! - I meant to reply to GregZ, Sorry Jeff!

..............................................................................................

 

Hopefully, there is some misunderstanding (by me and other LinC members)?

 

Did you mean that "you" need your bank information and password, or that Transferwise wants you bank info and password?

 

Very unwise to give that information to strangers!

Edited by Oz Jon
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TheWhiteKnight

Hopefully, there is some misunderstanding (by me and other LinC members)?

 

Did you mean that "you" need your bank information and password, or that Transferwise wants you bank info and password?

 

Very unwise to give that information to strangers!

 

I'm guessing he meant you need it so that you can obtain the proper information you need to provide to the Transferwise. But lets see what he says.

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  • 2 weeks later...

Sorry so long to reply, but I just got out of the hospital.

 

What you read is correct. They do not store your information but I provide it with each transfer. The option is to pay for a bank wire to TransferWise.

 

Stop freaking out fellas. If you are afraid then don't do it. This is a reputable company with nothing but good reports. I have transferred over 10 times with them. They are great.

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