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FORVM`s Classical Numismatics Discussion Board  |  Numismatic and History Discussions  |  Ancient Coin Forum (Moderator: Danny S. Jones)  |  Topic: Transferwise 0 Members and 1 Guest are viewing this topic. « previous next »
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Joe Sermarini
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« on: July 12, 2018, 08:23:15 pm »

Transferwise is a way of sending international bank wires that for transfers under $10,000 is cheaper than most banks (including my bank). I just send $2400 to Switzerland and it cost $19 and the exchange rate was as good as it gets. My bank would charge $40. For receiving payments it is cheaper to use than PayPal or a credit card. We now accept Transferwise payments for purchases from Forum. If you sign up for Transferwise and use it to send $3000 or more, Forum can receive a $75 "reward." I do recommend it. Please click here to sign up and credit Forum so we get the $75:

Transferwise.com
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Joseph Sermarini
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« Reply #1 on: July 12, 2018, 08:30:11 pm »

They are excellent. I never use PayPal when I can use Transferwise.
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« Reply #2 on: July 13, 2018, 01:32:17 pm »

Do they offer the same level of buyer protection as PayPal?
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« Reply #3 on: July 13, 2018, 02:33:50 pm »

No, it is equivalent to a bank wire.  The purpose is to send international bank wires for lower fees and with a better exchange rate.
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Joseph Sermarini
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« Reply #4 on: July 29, 2018, 02:50:01 pm »

Can it be used for domestic transfers?
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Joe Sermarini
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« Reply #5 on: July 30, 2018, 08:02:10 pm »

Probably, but I don't know.  I use direct deposit instead of wires for domestic payments.
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Joseph Sermarini
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« Reply #6 on: August 26, 2018, 12:43:10 pm »

Joe, with a Chase private client account you can send wires for free. No strings attached.
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Joe Sermarini
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« Reply #7 on: August 27, 2018, 08:10:04 am »

Free is good.  I will take a look into that.
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« Reply #8 on: August 27, 2018, 11:40:02 am »

I have used it for clients from the UK, US and Canada to great satisfaction at both sides for a couple of years. It saves me up to 5% per transaction, and it saves the buyer 2.5% that Paypal charges for the conversion.

It is only for international payments, not domestic. The buyer transfers the amount to a local bank account of transferwise. Then the receiver gets his money from a transferwise account in his home country. This avoids the intransparant and sometimes very expensive bank conversion fees.
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Gert
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« Reply #9 on: March 01, 2019, 10:00:41 am »

I used Transferwise for the first time this week.  Highly recommended--fast, easy, and incredibly cheap.  Between wire fees (the seller does not accept paypal) and the exchange rate, I probably saved a few hundred dollars, and a lot of hassle, since my local bank does not do international transfers but uses an intermediary.
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FORVM`s Classical Numismatics Discussion Board  |  Numismatic and History Discussions  |  Ancient Coin Forum (Moderator: Danny S. Jones)  |  Topic: Transferwise « previous next »
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