DrWhite
Junior Member
Posts • 4,107
Likes • 5,395
August 2012
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Sending Foreign Currency , by DrWhite on Jan 26, 2019 15:24:07 GMT 1,
I know this has been covered before- but I can’t find the thread
I need to send a €euro payment- I’m U.K. based & the gallery wants a cash transfer
What’s the best method/ company to use ?
Thanks
I know this has been covered before- but I can’t find the thread
I need to send a €euro payment- I’m U.K. based & the gallery wants a cash transfer
What’s the best method/ company to use ?
Thanks
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mehor
New Member
Posts • 562
Likes • 430
July 2015
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Sending Foreign Currency , by mehor on Jan 26, 2019 15:25:27 GMT 1, Cheapest is bank transfer
Cheapest is bank transfer
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Flashback
Junior Member
Posts • 1,240
Likes • 1,149
April 2016
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Sending Foreign Currency , by Flashback on Jan 26, 2019 15:42:01 GMT 1, I know this has been covered before- but I can’t find the thread I need to send a €euro payment- I’m U.K. based & the gallery wants a cash transfer What’s the best method/ company to use ? Thanks
Open a Revolut account.
I know this has been covered before- but I can’t find the thread I need to send a €euro payment- I’m U.K. based & the gallery wants a cash transfer What’s the best method/ company to use ? Thanks Open a Revolut account. |
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gd79
Junior Member
Posts • 1,129
Likes • 1,220
September 2015
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Sending Foreign Currency , by gd79 on Jan 26, 2019 16:56:56 GMT 1, I know this has been covered before- but I can’t find the thread I need to send a €euro payment- I’m U.K. based & the gallery wants a cash transfer What’s the best method/ company to use ? Thanks Open a Revolut account.
This. For sure. Cheapest possible way and very easy.
I know this has been covered before- but I can’t find the thread I need to send a €euro payment- I’m U.K. based & the gallery wants a cash transfer What’s the best method/ company to use ? Thanks Open a Revolut account. This. For sure. Cheapest possible way and very easy. |
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Deleted
Posts • 0
Likes •
January 1970
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Sending Foreign Currency , by Deleted on Jan 26, 2019 17:03:45 GMT 1, If you have online banking you can send a payment in the currency of your choice. It's very easy.
If you have online banking you can send a payment in the currency of your choice. It's very easy.
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Deleted
Posts • 0
Likes •
January 1970
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Sending Foreign Currency , by Deleted on Jan 26, 2019 17:05:25 GMT 1, I know this has been covered before- but I can’t find the thread I need to send a €euro payment- I’m U.K. based & the gallery wants a cash transfer What’s the best method/ company to use ? Thanks Open a Revolut account.
I know this has been covered before- but I can’t find the thread I need to send a €euro payment- I’m U.K. based & the gallery wants a cash transfer What’s the best method/ company to use ? Thanks Open a Revolut account. Why use a third party when you don't need to? Presumably Revolut charge for their services. |
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daniel3886
Junior Member
Posts • 1,239
Likes • 989
October 2006
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Sending Foreign Currency , by daniel3886 on Jan 26, 2019 17:19:27 GMT 1, I know this has been covered before- but I can’t find the thread I need to send a €euro payment- I’m U.K. based & the gallery wants a cash transfer What’s the best method/ company to use ? Thanks Open a Revolut account.
TransferWise is good much better than the rate most banks offer
I know this has been covered before- but I can’t find the thread I need to send a €euro payment- I’m U.K. based & the gallery wants a cash transfer What’s the best method/ company to use ? Thanks Open a Revolut account. TransferWise is good much better than the rate most banks offer |
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gd79
Junior Member
Posts • 1,129
Likes • 1,220
September 2015
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Sending Foreign Currency , by gd79 on Jan 26, 2019 17:32:15 GMT 1, If you have online banking you can send a payment in the currency of your choice. It's very easy.
Disagree a little, sorry.
This is how banks guage your eyes out. They charge a spread on the currency exchange. Sometimes a commission too.
TransferWise, revolut etc DO NOT. You get the mid rate on the currency, which saves you a couple of percent. Revolut is free. TransferWise commission is tiny, like a few pounds.
If you are transferring a couple of hundred quid, this isn't really an issue. Larger amounts then the difference between paying the mid rate and the spread becomes sizeable.
If you have online banking you can send a payment in the currency of your choice. It's very easy. Disagree a little, sorry. This is how banks guage your eyes out. They charge a spread on the currency exchange. Sometimes a commission too. TransferWise, revolut etc DO NOT. You get the mid rate on the currency, which saves you a couple of percent. Revolut is free. TransferWise commission is tiny, like a few pounds. If you are transferring a couple of hundred quid, this isn't really an issue. Larger amounts then the difference between paying the mid rate and the spread becomes sizeable. |
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gd79
Junior Member
Posts • 1,129
Likes • 1,220
September 2015
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Sending Foreign Currency , by gd79 on Jan 26, 2019 17:32:43 GMT 1, Why use a third party when you don't need to? Presumably Revolut charge for their services.
They do not
It is far cheaper than using your bank
Why use a third party when you don't need to? Presumably Revolut charge for their services. They do not It is far cheaper than using your bank |
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Poster Bob
Junior Member
Posts • 5,806
Likes • 5,418
September 2013
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Sending Foreign Currency , by Poster Bob on Jan 26, 2019 17:56:35 GMT 1, It's as if you try to make sure you have no idea what you're talking about in every single post. Truly amazing. Are your posts part of a performace piece?
Why use a third party when you don't need to? Presumably Revolut charge for their services.
It's as if you try to make sure you have no idea what you're talking about in every single post. Truly amazing. Are your posts part of a performace piece? Why use a third party when you don't need to? Presumably Revolut charge for their services. |
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wrigs
New Member
Posts • 497
Likes • 417
July 2017
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Sending Foreign Currency , by wrigs on Jan 26, 2019 17:58:54 GMT 1, If you have online banking you can send a payment in the currency of your choice. It's very easy. Disagree a little, sorry. This is how banks guage your eyes out. They charge a spread on the currency exchange. Sometimes a commission too. TransferWise, revolut etc DO NOT. You get the mid rate on the currency, which saves you a couple of percent. Revolut is free. TransferWise commission is tiny, like a few pounds. If you are transferring a couple of hundred quid, this isn't really an issue. Larger amounts then the difference between paying the mid rate and the spread becomes sizeable.
☝🏻 This. Banks have a field day on their exchange rates due to people not doing their research
If you have online banking you can send a payment in the currency of your choice. It's very easy. Disagree a little, sorry. This is how banks guage your eyes out. They charge a spread on the currency exchange. Sometimes a commission too. TransferWise, revolut etc DO NOT. You get the mid rate on the currency, which saves you a couple of percent. Revolut is free. TransferWise commission is tiny, like a few pounds. If you are transferring a couple of hundred quid, this isn't really an issue. Larger amounts then the difference between paying the mid rate and the spread becomes sizeable. ☝🏻 This. Banks have a field day on their exchange rates due to people not doing their research |
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jaymajik
New Member
Posts • 232
Likes • 144
May 2010
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Sending Foreign Currency , by jaymajik on Jan 26, 2019 17:59:12 GMT 1, If you have online banking you can send a payment in the currency of your choice. It's very easy. Disagree a little, sorry. This is how banks guage your eyes out. They charge a spread on the currency exchange. Sometimes a commission too. TransferWise, revolut etc DO NOT. You get the mid rate on the currency, which saves you a couple of percent. Revolut is free. TransferWise commission is tiny, like a few pounds. If you are transferring a couple of hundred quid, this isn't really an issue. Larger amounts then the difference between paying the mid rate and the spread becomes sizeable.
This is correct. I recently bought a work in euros, and compared the cost of sending funds via Transferwise and direct via my bank. Transferwise was very significantly cheaper, due to the better rate.
If you have online banking you can send a payment in the currency of your choice. It's very easy. Disagree a little, sorry. This is how banks guage your eyes out. They charge a spread on the currency exchange. Sometimes a commission too. TransferWise, revolut etc DO NOT. You get the mid rate on the currency, which saves you a couple of percent. Revolut is free. TransferWise commission is tiny, like a few pounds. If you are transferring a couple of hundred quid, this isn't really an issue. Larger amounts then the difference between paying the mid rate and the spread becomes sizeable. This is correct. I recently bought a work in euros, and compared the cost of sending funds via Transferwise and direct via my bank. Transferwise was very significantly cheaper, due to the better rate. |
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puritog
New Member
Posts • 369
Likes • 319
August 2015
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Sending Foreign Currency , by puritog on Jan 26, 2019 19:09:15 GMT 1, I use transferwise regularly and it works very well. Just be aware the transfer will take couple of days, since there are actually 2 bank transfers involved
I use transferwise regularly and it works very well. Just be aware the transfer will take couple of days, since there are actually 2 bank transfers involved
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jluhiex
New Member
Posts • 402
Likes • 223
December 2016
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Sending Foreign Currency , by jluhiex on Jan 26, 2019 19:40:58 GMT 1, I researched currencytransfer, transferwise, ofx, and xe and my own bank. Transferwise was hands down the cheapest. For a 45k usd transaction the difference between my bank and TW was close to $1200 usd.
Takes maybe 1-2 days to setup with account verification. You still need to go to your bank and transfer the money into their account (might incur a wire fee, if you have a good banking relationship they will waive this). Typically there is a cutoff time for funding...transferred 10am PST went into recipients account the next business day (UK recipient).
The other aspect of this is that real-time, mid market rates can fluctuate like crazy. If I had made the same exact transfer 4 days prior I would have saved $550 usd.
I researched currencytransfer, transferwise, ofx, and xe and my own bank. Transferwise was hands down the cheapest. For a 45k usd transaction the difference between my bank and TW was close to $1200 usd.
Takes maybe 1-2 days to setup with account verification. You still need to go to your bank and transfer the money into their account (might incur a wire fee, if you have a good banking relationship they will waive this). Typically there is a cutoff time for funding...transferred 10am PST went into recipients account the next business day (UK recipient).
The other aspect of this is that real-time, mid market rates can fluctuate like crazy. If I had made the same exact transfer 4 days prior I would have saved $550 usd.
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.dappy
Full Member
Posts • 9,835
Likes • 9,443
December 2010
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Sending Foreign Currency , by .dappy on Jan 26, 2019 20:35:04 GMT 1, I know this has been covered before- but I can’t find the thread I need to send a €euro payment- I’m U.K. based & the gallery wants a cash transfer What’s the best method/ company to use ? Thanks
... revolut ...
... scan your DL with your photo, instant set up give or take a day or two if you want an actual card ...
I know this has been covered before- but I can’t find the thread I need to send a €euro payment- I’m U.K. based & the gallery wants a cash transfer What’s the best method/ company to use ? Thanks ... revolut ... ... scan your DL with your photo, instant set up give or take a day or two if you want an actual card ... |
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lg2771
New Member
Posts • 523
Likes • 329
December 2017
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Sending Foreign Currency , by lg2771 on Jan 26, 2019 22:20:56 GMT 1, TransferWise gets my vote
TransferWise gets my vote
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NYart
Junior Member
Posts • 1,221
Likes • 843
January 2016
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Sending Foreign Currency , by NYart on Jan 27, 2019 0:59:11 GMT 1, Disagree a little, sorry. This is how banks guage your eyes out. They charge a spread on the currency exchange. Sometimes a commission too. TransferWise, revolut etc DO NOT. You get the mid rate on the currency, which saves you a couple of percent. Revolut is free. TransferWise commission is tiny, like a few pounds. If you are transferring a couple of hundred quid, this isn't really an issue. Larger amounts then the difference between paying the mid rate and the spread becomes sizeable. ☝🏻 This. Banks have a field day on their exchange rates due to people not doing their research
PayPal too. I saved $12 on currency conversion on a £230 purchase today by having it converted using my credit card rather than PayPal.
Disagree a little, sorry. This is how banks guage your eyes out. They charge a spread on the currency exchange. Sometimes a commission too. TransferWise, revolut etc DO NOT. You get the mid rate on the currency, which saves you a couple of percent. Revolut is free. TransferWise commission is tiny, like a few pounds. If you are transferring a couple of hundred quid, this isn't really an issue. Larger amounts then the difference between paying the mid rate and the spread becomes sizeable. ☝🏻 This. Banks have a field day on their exchange rates due to people not doing their research PayPal too. I saved $12 on currency conversion on a £230 purchase today by having it converted using my credit card rather than PayPal. |
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ARN
New Member
Posts • 319
Likes • 234
February 2018
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Sending Foreign Currency , by ARN on Jan 27, 2019 1:40:05 GMT 1, TransferWise all day
TransferWise all day
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Deleted
Posts • 0
Likes •
January 1970
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Sending Foreign Currency , by Deleted on Jan 27, 2019 12:03:06 GMT 1, It's as if you try to make sure you have no idea what you're talking about in every single post. Truly amazing. Are your posts part of a performace piece? Why use a third party when you don't need to? Presumably Revolut charge for their services.
Oh well, at least it stops you wasting your life on sex, drugs and rock 'n' roll, I guess.
It's as if you try to make sure you have no idea what you're talking about in every single post. Truly amazing. Are your posts part of a performace piece? Why use a third party when you don't need to? Presumably Revolut charge for their services. ...says the man who admits he has a pile of Damien Hirst prints that he can't sell on. LOL. Oh well, at least it stops you wasting your life on sex, drugs and rock 'n' roll, I guess. |
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DrWhite
Junior Member
Posts • 4,107
Likes • 5,395
August 2012
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Sending Foreign Currency , by DrWhite on Jan 27, 2019 12:16:53 GMT 1,
I’ve opened a revolut Account
Thanks for all the suggestions 👍
I’ve opened a revolut Account
Thanks for all the suggestions 👍
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Poster Bob
Junior Member
Posts • 5,806
Likes • 5,418
September 2013
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Sending Foreign Currency , by Poster Bob on Jan 27, 2019 15:10:46 GMT 1, Oh mighty art consultant, please explain to us commoners how I am unable to sell on Damien Hirst prints.
It's as if you try to make sure you have no idea what you're talking about in every single post. Truly amazing. Are your posts part of a performace piece? ...says the man who admits he has a pile of Damien Hirst prints that he can't sell on. LOL. Oh well, at least it stops you wasting your life on sex, drugs and rock 'n' roll, I guess.
Oh mighty art consultant, please explain to us commoners how I am unable to sell on Damien Hirst prints. It's as if you try to make sure you have no idea what you're talking about in every single post. Truly amazing. Are your posts part of a performace piece? ...says the man who admits he has a pile of Damien Hirst prints that he can't sell on. LOL. Oh well, at least it stops you wasting your life on sex, drugs and rock 'n' roll, I guess. |
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Deleted
Posts • 0
Likes •
January 1970
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Sending Foreign Currency , by Deleted on Jan 27, 2019 16:52:00 GMT 1, Oh mighty art consultant, please explain to us commoners how I am unable to sell on Damien Hirst prints. ...says the man who admits he has a pile of Damien Hirst prints that he can't sell on. LOL. Oh well, at least it stops you wasting your life on sex, drugs and rock 'n' roll, I guess.
Oh mighty art consultant, please explain to us commoners how I am unable to sell on Damien Hirst prints. ...says the man who admits he has a pile of Damien Hirst prints that he can't sell on. LOL. Oh well, at least it stops you wasting your life on sex, drugs and rock 'n' roll, I guess. It's you that said you can't sell them, not me. |
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beatlebum
New Member
Posts • 125
Likes • 105
May 2014
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Sending Foreign Currency , by beatlebum on Jan 28, 2019 9:29:27 GMT 1, I also recommend Transferwise.
I also recommend Transferwise.
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