TransferWise has been around for a little while now. Essentially, it’s an international money transfer service that, unlike your bank (or, God forbid, Western Union) transfers your cash to foreign currencies at the market rate.
Anyone who’s seen the clip that banks generally take via their horribly punitive exchange rates will know that any transfer service offering market rates is well worth a look.
The service is extremely straightforward. You arrange the transfer via your Transferwise account (providing details of the recipient account, obviously). The full payments to be made and received are made extremely transparent via your TransferWise account, so there are no nasty surprises. You can even make the transfer via debit/credit card.
You then transfer the money into Transferwise, who pass it on to the beneficiary account in the new currency.
TransferWise is also extremely fast, with the transactions sometimes completing on the same day.
What’s the catch?
Ordinarily, TransferWise makes its money via a small commission charged, On GBP to Euro transfers, for example, you’ll pay 0.5%.
Eliminating the catch!
While you’ll still generally find TransferWise to be the best value option, regardless of the commission fee, we are making life very easy for you by making your first transfer (minimum £200, maximum £500) absolutely free!
To benefit, you simply need to sign up via this link.