Money transfer methods
 

Sorry, I know this has been discussed many times. But wanted to confirm if others have used Transferwise to move funds internationally with good results and cost. I’ve read this and OFX are the least expensive and most dependable.

Re: Money transfer methods
 

I’ve used several companies over the years and now exclusively use Transferwise. Very low cost, very quick and very dependable.

Re: Money transfer methods
 

Xendpay is doing no fee transactions this week. The rates are comparable to Transferwise.

https://www.xendpay.com/payday

Re: Money transfer methods
 

In my experience Transferwise are best for amounts under AUD$10,000, OFX for amounts over (or your equivalent currency!)

Re: Money transfer methods
 

Ok thanks durham and spouse, feeling better in venturing forth with TW. Also thanks mrken on the tip for Xendpay, will look into as well.

Re: Money transfer methods
 

This gives good information on the options:

https://moneytransfercomparison.com/

Re: Money transfer methods
 

Also thanks for the above comparison.

As FYI, OFX turned out to be the easiest to deal with in setting everything up, and with the best rates/fees that I could see. They said $350 is the new minimum transfer, but even $100 is fine.

Transferwise was very difficult to deal with. My transactions were cancelled and account deactivated without explanation. It might have been just me.

Re: Money transfer methods
 

:thumbup: You can't go wrong with OFX.

Re: Money transfer methods
 

Exactly, very smooth with them. Glad you mentioned them as well. :)

Re: Money transfer methods
 

We’ve used OFX exclusively. They’re extremely efficient, you can talk to someone too. When we transferred our house sale funds they did it so smoothly and notified us via email as to it’s status of arrival at our UK bank They said they would’nt charge a fee being such a large amount, but I did note they added .75 cents (US) to the real time (USD/GBP) rate. This was no big deal and one can’t expect a free service!

We joined Transfer Wise once but didn’t use them since we didn’t like their on-line security. The reason being was that TW asked us to log into our US bank account from their own website and of course we had to put in our bank password. No way we’re we going to do that from a third parties website!

OFX has been a far better choice for us and we will continue to use them.

Re: Money transfer methods
 

Strange. Not something I have ever had to do with Transferwise.

Re: Money transfer methods
 

I agree. Initially TransferWise also offered me to directly log into my bank account from their website for verification. I did that, but never felt comfortable. Promptly changed password shortly after. To be fair, they also offered offline test deposit verification.

After a month now having done a few foreign tansfers, couldn’t agree more with both above re OFX.