TransferWise
Nov 30th 2020 | 9:05 pm
#17
Thread Starter
Lost in BE Cyberspace
Joined: Jul 2009
Posts: 15,887
From: Disneyland, Dubai
Re: TransferWise
Shifted over to revolut (who comes up with these names?) flat fee of 30dh for transfers into revolut account and then it varies in terms of account type and value of transfer. Much rather have stuck with TransferWise but hey...any idea why they’ve stopped bank transfers?
Horrible feeling TW tripped over some local regulation - the local banks are very protective of their turf
Dec 1st 2020 | 3:36 am
#18
BE Forum Addict
Joined: Sep 2008
Posts: 1,471
From: Near the Northern Lights
Dec 1st 2020 | 7:48 pm
#20
Account Closed
Joined: Feb 2011
Posts: 0
Re: TransferWise
Wot 'e said ^ 
Transfers are money for old rope for banks, especially in the internet age when (relatively) new entrants to the market, such as Transferwise will work for a ½% fee and no spead. Banks that take a 5%+ buy-sell spread (2½% on either side) and then stick a wire fee on top are taking the p!$$, exploiting a semi-captive (lazy) customer base.
Transfers are money for old rope for banks, especially in the internet age when (relatively) new entrants to the market, such as Transferwise will work for a ½% fee and no spead. Banks that take a 5%+ buy-sell spread (2½% on either side) and then stick a wire fee on top are taking the p!$$, exploiting a semi-captive (lazy) customer base.
Dec 1st 2020 | 9:54 pm
#21
Thread Starter
Lost in BE Cyberspace
Joined: Jul 2009
Posts: 15,887
From: Disneyland, Dubai
Dec 2nd 2020 | 11:46 pm
#23
Thread Starter
Lost in BE Cyberspace
Joined: Jul 2009
Posts: 15,887
From: Disneyland, Dubai
Re: TransferWise
Millhouse
If your Emirati bank offers AED > USD bank transfers at a fixed rate (around 3.75?) why not send USD to your Transferwise account by bank transfer and then convert to GBP?
If your Emirati bank offers AED > USD bank transfers at a fixed rate (around 3.75?) why not send USD to your Transferwise account by bank transfer and then convert to GBP?
