As the conversion process can take several days, it depends on the exchange rate movements as to what you end up with, but so far I've gotten more money than I would have from any of the online currency FX companies. Recommended!
I was a bit nervous to use the service at first since I was transferring a larger amount of money and other than reviews and some online articles, I did not know how safe the company was. However they converted my deposit (EUR to US Dollar) in about 24 hours and sent the payment out within the next 24 hours. It was easily 250 dollars or more cheaper to do my transfer with TransferWise compared to my bank doing a wire transfer. I would definitely use it again if and when I have to do another US - Germany transfer.
I had used for a few times and felt that it is better than others in terms of effeciency. Off late i have some more service providers ae coming with similar approach with more personalized service and even extending it.
It would be a great idea if transferwise connect ot its customer in more personal manner.
I have used Transferwise a few times and would recommend it - easy to use and the info at each stage of the process is good. The rate is much better than what I get from my bank, and it avoids the swift fee too.
You can get your first transfer free if you sign up with the link below.
I have sent two payments so far to my account in NZ for forthcoming holiday savings. I'm not a huge salary earner so cannot afford massive fees. Got burned by other services before but so far have no complaints about TransferWise. As long as the deal is fair, I'll keep using them!
I'm just 2 transactions old on the site, but it's more than enough to pass the judgement that Transferwise should be the first preference when transferring money abroad. They offer the best exchange rates in the market, the fee is minimal (the free transfer for the first time user is a winner!), the turnaround time is quite less, the website is neat and user friendly, and entire process is simple. Here's one company that's giving the banks a run for their money, literally and figuratively speaking :D
I used this and found it to be very easy to use with a nice simple website, which is good. The transfer was made quickly too.
The only problem I can think is that there is a chance that the rate could start to go against you after you requested the transfer (but it could get better too, it just depends). There are two options if you are concerned about this:
First you could set a limit on how low the rate can drop and you still be prepared to do the transaction. But if you do this and the market rate is dropping generally your transfer will never get done.
Second option is to get a guaranteed rate when you make the transaction, but you have to pay a bigger fee for that. Whichever option, the fees are small compared with my bank. Edit Review Delete Review