mikemike

I think it is because I just do not understand how Transfer wise works

I see how they transfer funds to here. i just do not see how i enter funds into a transfer wise account in the UK . They need to have a sort code and account number according to my stock broker who wants their IBAN/swift details

Be nice to have something simple.........like me)

Gazza-d

I have an HSBC account both in the UK and the Philippines which are globally linked. I just drag and drop sterling from the UK to the Philippines instantly and no fees. When I use my PH debit card I just get the mastercard day exchange rate, again no fee unless I draw cash then the normal 15p fee per transaction.

Stokkevn

Looking at their web site ( see below ) they seem to offer sort code and account number, unless of course I have totally misunderstood it. Which is more than likely as I have not read everything.

https://transferwise.com/gb/borderle...xplainer-video

mikemike

I will apply myself and do some homework


cheers

Bealinehx

mikemike
I have a Swiss friend who uses Transferwise from his Swiss bank to his Philippines account. I'm sure that they have US accounts.

Bealinehx

As an afterthought why not make a Skype call to Transferwise. It may prove very fruitful.

Stokkevn

Once homework completed any feed back gratefully received.

Gazza-d

Transferwise and others can either suck the money directly from your account or if you bank is a bit fussy give you a reference number with sort and account numbers for you to make the online transfer from your end.

mikemike

guys BPI WAS my UK bank now that has been taken away

MY broker account in new york is in £ not $ so currency transfer into transferwise is not an issue.

The issue is getting the funds into transferwise in the first place as there will not be a UK bank account as the source.


I have yet to apply myself

UncleFatBloke

Set up a Transferwise account a few weeks ago from where I am living at the mo (Germany) for Euros.
I did this by downloading the Transferwise app onto my iphone.
When that was up and live I then was able to - all by my(not technical)self - create an additional GBP account simply, and this then withing seconds gives you a 'bank' account number and Sort code!
I needed this so that I can transfer some money from the UK to Germany without the big fees hit!
What I have subsequently also done is create a Thai Baht, PHP, Vietnamese Dong, and Malaysian Ringgit accounts - as I will be leaving Europe just after Christmas and finally heading to S.E.A for the forseable future.
I also received a Transferwise debit (Master)card which is also contactless (= just hold it in front of the cashiers scanner, - don't need to stick it in!).

Here is a Youtube video that some random guy has created that shows you basically all you need to know:

mikemike

Very helpful I have now applied myself by watching the video. I will change my on line stock broking account to transferwise IBAN and get my other uk payments sourced this way as well.

cheers

David Mashael

I have used Transferwise several times to transfer funds to my bank here in Philippines. Both £ and $ from different countries. I find them fast, efficient and reasonable with the fees. The exchange is usually better than XE by a few points.

mikemike

Thanks for the info we did open a transferwise account today and sent their sort code and bank details to those who will remit funds. The account opening process is straightforward just took some time for me to get my head around the process up to the point they provided sort code and bank account number.

Now we have to get the funds in there and then try the transfer

Stokkevn

Looking at alternatives to BPI here as there are two in the nearest town, one can not park near unless very lucky and the other is at the other side of town. Has anyone any experience of Robinsons Bank, any feedback would be appreciated.

Raffin

Yes, my wife had a savings account with them for a while. Robinson's and SM always facing up to each other so it seems they started the bank just to answer the rampant BDO. So big advantage was very few people using most of their branches. Although some of the ATMs were a bit awkward to use.