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Paypal raised their rates for sending money internationally yet again, and it’s time to find a different solution. Paypal is especially shady because they don’t convert currency at the normal rate (thus not “technically a fee, so they don’t have to list it under fees), but instead one beneficial to them. What’s another service to send money internationally? I’m friends with the recipients, so bank transfers are fine. I live in the US, and I’ll be sending to Europe.
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Dec 27, 2020 23:24
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Valicious posted:Paypal raised their rates for sending money internationally yet again, and it’s time to find a different solution. Paypal is especially shady because they don’t convert currency at the normal rate (thus not “technically a fee, so they don’t have to list it under fees), but instead one beneficial to them. ACH via your bank is probably the safest and easiest option. There are fees to be sure, and it can take several days depending on the amount of the transfer and the institutions in question, but it's the universally accepted method make international transfers work. Companies like Venmo tend to not support international transfers as there are a number of regulatory and risk issues at play.
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Dec 28, 2020 17:38
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Mackieman posted:ACH via your bank is probably the safest and easiest option. There are fees to be sure, and it can take several days depending on the amount of the transfer and the institutions in question, but it's the universally accepted method make international transfers work. Companies like Venmo tend to not support international transfers as there are a number of regulatory and risk issues at play. I just looked on my bank’s website, and they can’t do international transfers.
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Dec 28, 2020 18:26
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I recommend Transferwise
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Dec 28, 2020 21:44
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Dakha posted:I recommend Transferwise Seconded. I’ve been using them for fx transfers between EUR and USD for what probably amounts to a (low) six digit figure now over several transfers. Friends ans Family have been using them and been happy with the results as well.
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Dec 28, 2020 22:03
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Dakha posted:I recommend Transferwise Agreed. We are finishing a move from the US to Canada and Transferwise has been great from paying rent before we had a Canadian bank account to seeding that bank account to making a simple e-transfer to pay a preschool deposit to putting a down payment on a car. Super easy to use and had about the best rates and fees I could find.
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Dec 29, 2020 23:01
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Thanks guys. I’ve been reading through the help section over and over, maybe you can help me. I’m sending to a friend in Sweden (so Krona, not EUR), how does he transfer money from his account to bank? There doesn’t seem to be a question addressing this. Or is it like Paypal in that you just click “transfer”
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Dec 30, 2020 06:45
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Valicious posted:Thanks guys. I’ve been reading through the help section over and over, maybe you can help me. I’m sending to a friend in Sweden (so Krona, not EUR), how does he transfer money from his account to bank? There doesn’t seem to be a question addressing this. They want you to use their service, so the off-ramp is going to be easy provided he has a bank account in Sweden. I've only used TransferWise once to send money, but my limited research strongly supported them as being the best option.
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Dec 30, 2020 07:01
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The recipient will enter their bank details when they register; the money will arrive there. It’s super easy and cheap.
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Dec 30, 2020 15:18
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I use transferwise a lot for buying collectables from Japan and I highly recommend it.
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Dec 31, 2020 01:06
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Lead By Example posted:I use transferwise a lot for buying collectables from Japan and I highly recommend it. I do a ton of that, but I just use a shopping service. I pay for stuff through the shopping service using PayPal, but using Transferwise is something I should look into. God, I hate Paypal. I’m getting ready to ship 1000+ pounds of stuff, and I’d LOVE to not have to use PayPal
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Dec 31, 2020 01:40
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cheapest way ive found is to exchange for paper currency and carry a wad of cash in my bag on a trip i was going on anyway.
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Jan 13, 2021 13:04
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I work in Europe and use a US credit card, and I use Transferwise monthly to do the conversions. Super cheap (like 5€ for a 1000€ transfer at a good exchange rate) and convenient. You can also get real bank account numbers in certain currencies. Unfortunately SEK is not one of them. e: That means that you can send them money from your TransferWise account to their TransferWise account, which you can do in any currency, and then they have to cash out to their bank account manually. Or you can send it directly from your TransferWise account to their Swedish bank account. Greatest Living Man fucked around with this message at 16:02 on Jan 13, 2021 |
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Jan 13, 2021 15:58
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Dakha posted:I recommend Transferwise Been using this for years, works great.
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Jan 16, 2021 03:26
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Valicious posted:I just looked on my bank’s website, and they can’t do international transfers. Well you are not transferring you are doing a wire. The fees are usually dumb though if you are doing many smaller transactions instead of paying for a container full of furbies.
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Jan 16, 2021 17:02
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Another vote for TransferWise. I use it to transfer euros from a German bank account to dollars in a US bank account occasionally, works great, no problems so far.
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Jan 20, 2021 17:18
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I just wanted to chime in that, because of this thread, I tried TransferWise, and it's the worst, user-unfriendly experience I have encountered I've lost count how many times they've asked for pictures, taken with different devices. You need to reupload this, you need to reupload that. We didn't tell you we need both sides. No can't give us each side seperately. Oh you've re-uploaded the same thing, now it randomly works. Now that we got all your pictures that were originally taken with your phone, we're still forcing you to log in on your phone, to get exact same pictures, again(?) gently caress that Edit: Trying to send my originally-put-in 20€ to another € account they're taking 2%. Euro to Euro. 2% b2n fucked around with this message at 22:33 on Jan 21, 2021 |
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Jan 21, 2021 22:24
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b2n posted:Edit: Trying to send my originally-put-in 20€ to another € account they're taking 2%. Euro to Euro. 2% That said, I don't know what you mean by taking pictures and uploads. Is this some new security procedure?
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Jan 23, 2021 16:24
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moving 20 bucks across borders is generally not productive or cost effective
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Jan 23, 2021 16:48
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KYOON GRIFFEY JR posted:moving 20 bucks across borders is generally not productive or cost effective
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Jan 24, 2021 18:45
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Cicero posted:Oh, I've only used it for bank transfers for like 1000+ EUR at a time. For smaller amounts yeah I dunno if it's good. EU/UK have more difficult KYC standards than the US which is basically "lol sure do whatever" because America has little interest in actually punishing financial crimes, and the market for these fintech/alternative solutions is largely moving towards using pictures and selfies via their mobile app because it's way easier to securely automate the KYC process when you do that. Sounds like they're having trouble with that. It's generally pretty good, but companies are doing various things to 1) increase their conversion rate 2) make it harder for scammers to take a shotgun approach by automating creation of fake accounts. So instead of dropping all the KYC requirements on people in a big page of text they'll give it to you piecemeal as you sign up. In some cases stuff only kicks in once you've moved 1k USD equivalent or something. Also requiring a small initial deposit stops people from trying to make tons of fake accounts. Transferwise is basically exclusively made to do cross-border transactions though so don't try it for anything else.
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Jan 29, 2021 11:42
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Sending money internationally is always fun and exciting, got an etrade wire lost in limbo where my regional bank never received the funds and wells fargo, etrades bank, said yup we sent it and just gave us some 28 figure number called swift transfer id (not swift id, lets just name it the same to make everything more confusing) as proof. It's been 15 days. One would think moving numbers on screens -gasp, on different countries- is not dark magic.
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Feb 10, 2021 00:11
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I have an odd problem. I inherited a chunk of GBP that I used to have sitting in a weird bank account in Jersey. But then I realized my normal bank in Spain offered an account in GBP so I moved the money there and closed the Jersey one. Great so simple to have everything in one place. Welllll, when I transferred a bit of this money to my normal euro account at the same bank, they not only charged ~€150 in fees, they did the conversion at a terrible rate. I thought I'd be "smart" and do the next transfer via transferwise (to a different bank in euros); using their calculator it seems I will save a decent chunk of €€€ this way. But the issue is I don't see how I can transfer the GBP out of my current bank without them hitting me with their high fees again. When I set up the transfer in transferwise, they ask me to send the GBP to a 8-digit account # with some UK sort code. My GBP account has no option to do a transfer like this since it isn't an account at a GB bank. It allows me to transfer using an IBAN to another GBP account but it seems to be limited to banks in Spain, or I can do a swift transfer where they will charge their fees. I suppose even if they charge me the fees, then having transferwise do the conversion to euros will probably still save me money but I don't have a way to confirm that in advance. I'm pretty sure I screwed myself here because I didn't think through the consequences of having the account be in Spain. But if anyone has any bright ideas I'd love to hear them.
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Jul 14, 2021 10:23
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Associate Christ
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FWIW people at my work recommend Xoom which is now owned by Paypal. I just checked it out and fees seem really reasonable ($5 for the random country I selected). No idea how much if any they make off the rate itself though, so probably check that out too.
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Jul 15, 2021 18:34
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Bank posted:FWIW people at my work recommend Xoom which is now owned by Paypal. I just checked it out and fees seem really reasonable ($5 for the random country I selected). No idea how much if any they make off the rate itself though, so probably check that out too. eh. paypal is often headache-inducing so I'm not eager to hand them most of our savings. I'd rather use this Wise thing that I'd never heard of until last week. And on that note, I went ahead and transferred the money to a Wise UK £ account and it worked really well on wise's end; quick and cheap. Though my stupid loving bank didn't include the right reference number and charged me €600 to boot. I transferred twice as much from the US and our lovely credit union charged $25.00 lol.
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Jul 16, 2021 18:08
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There is someone in Brazil I wish to send money to for art commissions; but they don't want to use any service that requires them to use their real name because of privacy concerns. They apparently cannot make a business paypal account because of local laws; what are our options?
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Aug 5, 2021 01:47
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Your options are to not buy custom anime porn about underage people tia
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Aug 5, 2021 01:59
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I'm looking for the best way to transfer some money between countries. Besides just using transferwise/wise.com, is monito.com reliable (for comparison purposes)? Edit: Wise doesn't have the currency I need, so I was thinking Currency Solutions. Anyone got experience with them?
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Oct 20, 2021 12:46
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What currency are you trying to move?
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Nov 23, 2021 13:50
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