Philosophical 11

Used Transferwise for the first time the other day. Quick and simple to use with no problems. Cheap transfer fees with good exchange rate.

Regards

FreeToChat

Just open an account with Transferwise. ATM card available. Add what ever currencies you wish to use. You can then decide what currency to send out to another bank. Once set up, it is very easy to use. Just watch the ATM fees in PH, they can mount up because the card will be seen as a foreign card. I transfer direct into Metrobank which is almost immediate.

People advising to set up direct payment of pensions etc. direct to PH account beware of fluctuations in exchange rates. No control over them.

mikemike

well somethings are just not straightforward

I tried to transfer my balance from BPI to Transferwise I gave the sort code and account number etc and Transferwise bounced the payment back to BPI!! as I had not ''activated' my account with them. The activation process is to place funds in from one of their listed banks which does not include BPI!! As BPI was my ONLY UK bank I appear to be stuck unless any of you here managed to get funds directly transferred from BPI into transferwise?

thanks

Stokkevn

PNB have the same services that BPI have just closed and they have two offices in London.

Not sure if it is possible but open a PNB account here, get them to help opening one in London and then transfer the BPI balance when closing your account with them to the PNB account number in London and then transfer from there to here. A bit long winded, but the only way I could think of doing it. Apparently PNB have reasonably low transfer fees and are also quite good on the exchange rates, I checked the other day and Forex mid rate was 66.31 and PNB was 66.30 GBP>Ph.

mikemike

Thanks i will take a look

transferwise have thrown my confidence in them when they told me the sort code and account number given are in effect dummy numbers!!!

Bealinehx

mike mike Have you had any direct communication with Transferwise?

vmax42

Hi Guys, new member, im also a BPI Earls Court victim - my only UK Bank Account was BPI. My Pensions (Military and War ) are stuck there. I have no UK address ect, and my status here is as a tourist (been here 13 years +) and have been told unofficially i cannot open an account in the PI... any advice would be of great value - tried emailing Transferwise but they didn't seem to be very helpful. Needless to say everything is closed till Jan 2020 so its fish heads and rice diet at the mo ...Ive emailed "Jeremy BPI Earls Court" who isnt the most helpful guy at christmas.

mikemike

Yes just responded yet again. This time I sent them screen shots of each step they instructed. I get the feeling the outcome will show that the step is different to that which they have given me

As for issuing dummy sort code and account number ...there is no excuse

I will probably just instruct direct payment for now (Western union exchange rates!!)and cut transferwise out of the loop whilst starting the process with PNB

Stokkevn

A friend of mine uses Torfx for his transfers, he recons better than Transferwise, I have never used it so it is only hearsay.

FreeToChat

Have you tried to use a bank card to transfer funds into Transferwise to activate the account. I never used bank transfer and always used a debit card to place funds.

David Mashael

Very strange Mike. I have used TransferWise numerous times, it's so easy to use. I've transferred £ from UK and $ from UAE. Really not sure what you mean by dummy sort code and account number??

mikemike

Transfer wise gave me an account number and sort code which when BPI paid into it bounced the funds back to BPI.

BPI were my ONLY uk bank account and they are not seen as acceptable to Transferwise for the purpose of transferring funds in

Any it is resolved Transferwise are getting the Boot and my funds will be sent direct no fees charged just using western union rates.

Next week the boss and I will open an account with PNB once satisfying myself that they can accept stock broker funds

Perhaps one advantage of Brexit will be that expats can open UK based stock broker accounts and trade without prejudice!!

David Mashael

Glad to hear that you have found a solution, but Western Union always in my experience gave lousy exchange rates and their charges were exorbitantly high.

mikemike

we are not using western union we just get their rates The trustees advised they do not charge for the transfer so they will make in shaving the rates with WU

anyway quick update on Transferwise they have gone silent when faced with clear evidence they did NOT get a third party transaction which was rejected by them....they are looking into it

Stokkevn

Any feedback on ability to open a UK bank account from here via a local branch would be grateful. If that is what you are doing.