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International Transfers

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pkcgill
5/30/2016 06:00 EST

I moved to Poland recently and needed to transfer my savings over to cover my set up costs in my new home. I had heard how badly banks rip you off when transferring International so started to look at new ways to transfer money. Having looked I picked CurrencyFair as having the best reviews and the fact that they have an office in Ireland with their customer service team based there was a real plus. I found the whole process really easy and managed to save PLN 1,200 from a €10,000 transfer. Can't recommend this service enough and I continue to use them sending part of my Salary back to Ireland to cover bills. They offer an Incentive for referrals too which is really handy €15 free when using the code:
https://www.currencyfair.com/?channel=R2XB71

Cannot recommend this company highly enough. For years people have been losing out hundreds and thousands by using the banks. Great to see a company who is making a dent in this age old process.

If your not convinced (I had my doubts), use their calculator which will tell you how much you can save versus transferring with the conventional banks.

Alan (Delighted CurrencyFair User)

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OldPro
6/1/2016 18:26 EST

Good point pkcgill. When I first read your title though I thought it referred to job transfers as in your employer transfers you to an office they have in another country.

A better title might have referred to MONEY transfers.

Forex (foreign exchange) companies can indeed save you a lot of money on money transfers between countries. So your advice is good but could be a bit clearer.

The title and a link to somewhere that explains what you are talking about would help. I suggest this if you post your advice in any other forums.

Here is a good explanation to link which is UK specific but the general principles apply for any country.
http://www.telegraph.co.uk/finance/personalfinance/11986097/Transferring-money-abroad-Ultimate-guide-to-currency-exchange-options.html

Here is a link for Australians:
https://www.choice.com.au/money/banking/foreign-transactions/articles/overseas-money-transfers

The point is that if you understand there is a better way, then it is easy enough to Google the best way from your own country.

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