International Fund Transfer Recommendations

[bernardblack]

Is anyone else finding that Transferwise is not as consistent in offering the most competitive rates these days? Recently I've been making some transfers to GBP and oddly the level of fees actually dropped when I changed the amount from GBP 1,000 to GBP 3,000. Perhaps they are penalising smaller transactions relative to larger ones?

I would also add that Citibank sometimes beats Transferwise now. However, I am yet to see anyone beat Instarem, which is a provider I stumbled upon when searching for Transferwise alternatives. Seems to have been founded originally in Singapore but now has subsidiaries in Australia and various other locations.

Feel free to use my Instarem referral code: InstaReM

If you do decide to make a transfer, you can combine this with a coupon code at the confirmation stage like FINDER10 or SAVEMORE to save further on fees.

Thanks for this. I used your referral to open the account, and got a better rate than OFX over the full range of amounts I priced for transfer. And the first test transfer was done, from submission to my immediate BSB/account payment from Westpac of the AUD amount to appearing in my USD account at Bank of America, in about 34hr. (I think it would have been under 24hr if I'd submitted early in the business day rather than late evening.)
And I forgot to apply the coupon code, but I will use that or the one they emailed me for another transfer soon.

 

[SeatBackForward]

Is anyone else finding that Transferwise is not as consistent in offering the most competitive rates these days? Recently I've been making some transfers to GBP and oddly the level of fees actually dropped when I changed the amount from GBP 1,000 to GBP 3,000. Perhaps they are penalising smaller transactions relative to larger ones?

I would also add that Citibank sometimes beats Transferwise now. However, I am yet to see anyone beat Instarem, which is a provider I stumbled upon when searching for Transferwise alternatives. Seems to have been founded originally in Singapore but now has subsidiaries in Australia and various other locations.

Feel free to use my Instarem referral code: InstaReM

If you do decide to make a transfer, you can combine this with a coupon code at the confirmation stage like FINDER10 or SAVEMORE to save further on fees.

I'll have to check this, as I've been assuming they're pretty good. I probably won't change regardless as I need the ability to receive funds into the local bank accounts. Does InstaRem have this? I see they have banks across Asia which is potentially good for my requirements also.

 

[ozfflyer]

I find my Coles Platinum Mastercard (actually black in colour) gives a very good exchange rate, with no international transaction fees. Always compare with xe.com

So all you need to do, is find someone who accepts Mastercard at other end. Gather most merchants of any size pay around 1% merchant fee on Mastercard.

 

[theblank]

Is anyone else finding that Transferwise is not as consistent in offering the most competitive rates these days? Recently I've been making some transfers to GBP and oddly the level of fees actually dropped when I changed the amount from GBP 1,000 to GBP 3,000. Perhaps they are penalising smaller transactions relative to larger ones?

whats the actual difference?

I usually compare OFX to Transferwise before I send, and just choose the cheaper one of the two, however the difference is never enough to make me want to bother setting up a new account if I had too.