Sending money overseas

[Maisy33]

Any recommenddations on who to use for sending money overseas to son in the US?

Thanks.

 

[DeKa]

Wise.

 

[snabbu]

Depends on how often you want to transfer funds, how much, etc.
Personally I use OFX.

 

[ZigZagWanderer]

I used to use OFX, but have taken advice from this forum, and tried Wise. It is a far more comprehensive product, allowing me to have multiple currency accounts and a debit card (using any currency).

The exchange rate is typically 0.5% over the spot rate for small transactions, lower for large ones. This is significantly cheaper than any others, including OFX which used to be about 1 to 2%. Banks are typically 3%.

As a UK citizen as well, I am allowed to invest in a Blackrock fund and interest accounts too. Frankly, it's my only international bank now. I only use my uk and Italian banks for direct debits and joint accounts.

 

[VPS]

Definitely Wise and it would be good to get a referral from someone on AFF

This thread links to some other threads on it

Wise debit card

Hi, Has anyone had experience using a Wise debit card internationally ? Thinking of obtaining one for use in Europe and the UK.

www.australianfrequentflyer.com.au

 

[Lost Redditor]

Another +1 for Wise (formerly TransferWise). I've been paying student loan debt to Norway for 7 years now using Wise and recently used their Wise debit card around EU and USA. Can't fault it

 

[snabbu]

I used to use OFX, but have taken advice from this forum, and tried Wise. It is a far more comprehensive product, allowing me to have multiple currency accounts and a debit card (using any currency).

The exchange rate is typically 0.5% over the spot rate for small transactions, lower for large ones. This is significantly cheaper than any others, including OFX which used to be about 1 to 2%. Banks are typically 3%.

As a UK citizen as well, I am allowed to invest in a Blackrock fund and interest accounts too. Frankly, it's my only international bank now. I only use my uk and Italian banks for direct debits and joint accounts.

Absolutely I agree, Wise is a good option. Some years ago when I was weighing up my options of who to go with OFX was best for me in the circumstances (primarily AU <-> USD), they offered me the best rate based on my projected movements, nothing Wise or others could match.

 

[trendwhore]

I use XE/HiFX for business and personal.

 

[bamboo tree]

Out of the Australian banks, is there a particular one that is known for providing good rates on FX bank transfers?

 

[Pushka]

We use Revolut.

 

[VPS]

We use Revolut.

why not Wise - is there much difference

 

[Pushka]

why not Wise - is there much difference

I have to fall in line with the UK family members. I know. Me? Acquiescent? Anyway it works really well apparently. I've only sent ££££ and €€€ from it. Not received any money.

 

[VPS]

I have to fall in line with the UK family members. I know. Me? Acquiescent? Anyway it works really well apparently. I've only sent ££££ and €€€ from it. Not received any money.

ah OK most of my friends are Wise people so I got rid of my Revolut

 

[Pushka]

ah OK most of my friends are Wise people so I got rid of my Revolut

I see what you did there, even if by accident.

 

[VPS]

I see what you did there, even if by accident.

it wasn't an accident