The absolute key to any of this is the rate you are offered as compared to the money markets FOREX rate - the fixed charges of the conventional money transfer companies are a distraction - a bit like the 'commission free' lark you see at Thomas Cook etc.

TransferWise are a bit of a game changer - oddly enough, their method was first (??) thought of at least as far back as the Knights Templar who operated a similar system (allowing for some 800 years of technology of course)

If you have an account with Royal Bank Of Canada they have an online international money transfer system, $13.50 per wire transaction and you can send up to $2,500 per day. I find the money companies are good for large sums of money where even the slightly better rate can make a difference to what transfers. For lower amounts, this works well and is accessed from your online banking page. I have found nothing more convenient for smaller amounts (unless you are with HSBC).

I have always used World First, but normally I transfer enough that I get over $10,000 and it is fee free then. Under $10,000 they charge $10 fee. They have always been quick and easy to use

It's not, you just don't know how much they charge as it is factored into the FX spread.

Far better to get a FX rate and pay a fee, that way you know how much you get and what it costs.

Unless I miss something it seems clear enough.

The website shows the rate you get and converts the sum you want to send. Assuming that's right about either a £10 fee or free, and there are no hidden charges, you get to see what arrives at the other end just as you do with, say, TransferWise which seems to be most people's favourite.

TransferWise is currently quoting the same rate. When they tell you what you get at the other end they deduct the 0.5% from the £ amount and the figure shown is what you get. I've done it several times.

When you use the same feature on WolrdFirst it appears you need to deduct zero or £10 and then do the conversion.

Lower transfers, TW is better while WF is better for larger amounts.

Hurlabrick (describing TW as a game changer) did some comparisons upthread and TW came out better but WF is doing a better rate for £/$ than in those examples, comparable to TW from the figures I just looked at.

Possibly the game really has changed and it's worth checking again?

A couple of years ago everyone was saying the FX method was best and now opinion seems to be different.

Halo financial based in London.

We used them for all our fund transfers, very efficient service and great fx rate.

Has anyone used Azimo? I hadn't heard of them until I discovered them last week. They seem very close to Transferwise on comparisons I did, with a smaller fee and slightly lower exchange rate.

I have been trying to send a transfer using Transferwise today paying by direct debit. When I click to confirm the payment this message appears: ''Unable to access your online banking. Please check your online banking login credentials and try again.''

I sent a transfer last week without a problem. Has anyone else had this problem paying by direct debit?

My UK to Canada transfers have all been using the debit card rather than the account details. Never been a problem.

I have always paid by 'faster payments' transfer from my own UK bank account with no problems

Transferwise has informed clients that due to tomorrow (1 May) being a bank holiday some transactions this weekend may not carry through. I'd suggest try again Tuesday.

Thanks.

I find currencyfair.com cheaper than transferwise...

Hi Collie,

Can you pay by direct debit?