money transfer

[guest4538]

I may be wrong...often are but when you advise Transfer wise to tranfer money they give you the exchange rate of at midday rate of that day..I thought thats what they informed me some years ago when I started using them but that bit not sure of now..it may be as you say refresh browser and thats the rate.. but I do know they charge £5 per thousand in fees...as far as I have seen they come out in front...got to be good for someone as Brason is involved with them..

Sorry, I might have mislead you there. You don't need to refresh your browser when doing a deal. The exchange rate is shown on the screen and, if you're content, you can proceed with that as the guaranteed rate of exchange of your deal. Transferwise's rate is the "real mid-market rate" (that's the figure midway between the selling and the buying price) at the precise time you log-on to their "send money" page.

When I suggested that you refreshed your browser, that was simply to demonstrate that Transferwise's exchange rate changes by the second. Hence deals, with quite different exchange rates, will be done throughout any single day: so they can't all be "midday rates"!

The commission charge is £2 or 0.5%, whichever is the greater: that indeed works out at £5 commission/£1,000 transferred if you happen to be transferring multiples of whole £1,000's.

I agree with you: I don't believe any company does remote transfers better. But for small cash transfers, while in Spain, you should get better net exchange rates (that's overall including the commission) at any cash machine using a Halifax Clarity credit card, or specifically at a Santander cash machine, with a Santander UK debit card.

[Trucker]

I may be wrong...often are but when you advise Transfer wise to tranfer money they give you the exchange rate of at midday rate of that day..I thought thats what they informed me some years ago when I started using them but that bit not sure of now..it may be as you say refresh browser and thats the rate.. but I do know they charge £5 per thousand in fees...as far as I have seen they come out in front...got to be good for someone as Brason is involved with them..

[guest4538]

TransferWise give the midday rate of the day and charge £5 per thousand to transfer...simples

I'm not sure where you get that idea? TransferWise's rate varies with the market: when the markets are open, simply refresh your browser to see the instantaneous changes. It seems that once you continue to the deal, the rate is fixed and guaranteed for 24 hours.

[Trucker]

TransferWise give the midday rate of the day and charge £5 per thousand to transfer...simples

[guest4538]

We usually use Transferwise but on a recent trip to Mojacar went to see GCEN who matched the Transferwise quote we had.
Most will match other quotes you may have.
Good luck.

I'm not sure the point of that exercise. What benefits are there in travelling to GCEN's offices to get the same deal available by spending a couple of minutes online with Transferwise? Or am I missing something?

[LANDI]

We usually use Transferwise but on a recent trip to Mojacar went to see GCEN who matched the Transferwise quote we had.

Most will match other quotes you may have.

Good luck.

[Wrypop]

Tell him to compare - it is very competitive in the trading world. I have never paid a fee in my life. Try Transferwise, try SMART currency and try others. Shop around.

[hartcjhart]

Thanks one and all, have sent him the link to transferwise so he can make a decision

[Lynden]

Use Smart Currency. Tried to use GCEN but very slow at responding to email, didn't give me confidence.

[Rod]

Transferwise for me. Send it in the morning and get it in the afternoon. Very good rates and low charges, half a percent. Used to use GCEN but found they did not give the best rates.

[guest4538]

Global currency exchange network gives a better rate and good service.

I should like to know how you reached this conclusion?

I looked at the GCEN website and they do not appear to disclose their current exchange rate. This lack of transparency does not help in making comparisons: so I'd be interested to know where you get information showing that GCEN rates are better than those offered by Transferwise?

Transferwise's rates are fully disclosed online and up-to-date; and transfers are quick - often in the recipients account one or two days before being debited from the senders account (when using debit cards for transfers up to £2000).

But, if GCEN offers a faster , cheaper service I should appreciate further information: we all need to make savings especially with a falling pound!

[Lancashire lad]

Mark at currency 4u, Really good service and rates

[BobL]

We have always used GCEN ('Global Currency Exchange Network). Never a problem. They pay the commissionn to the receiving Spanish Bank but it has been known for the Spanish Bank.to double dip. Shouts of horror & disbelief.
Office in.Mojacar or www. BobL

[Angleseyite]

Global currency exchange network gives a better rate and good service.

I agree, always use these, no problems, money in within a couple of days.  :08:

[Cheese]

Global currency exchange network gives a better rate and good service.

[Skol]

Transferwise Good rates and very quick.

[Fishery]

Definitely transferwise

[Suej]

Agree with tetley
https://transferwise.com

[Tetley]

A friend wants to transfer 10k sterling to his fathers account in spain,who would you guys suggest

transfair wise

[hartcjhart]

A friend wants to transfer 10k sterling to his fathers account in spain,who would you guys suggest