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Finance & Legal How to send money in the cheapest way from Europe

Discussion in 'Businesses - Services - Products' started by Justice911, Feb 13, 2018.

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    Justice911

    Justice911 DI Member Showcase Reviewer

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    Hi Show Pony, it is too late now to go to Germany, as my fiancee just wanted to visit me in Germany and had even a Study place in the Philippines, and the Embassy even called them, if this is true, they denied nevertheless and the cruel cold-hearted racist Boss of the Visa-Department told me in my face behind bullet-proof-glass: "Oh, yes the study of your girl-friend was confirmed but you can pay the Semester fees for her from your petty-cash (pocket-wallet) the study can be a fake and is no insurance, that she, your filipina will come back and you cant force her to enter the airplane back to Manila." So Show Pony after all those awful experiences with those inhuman idiots at German Embassy, my wife and me are fed up to go to Germany any more. We have a wonderful lot and mansion near the seaside and our 8 dogs guard and love us sooooooo much. So no need to go abroad. The only problem, I would like to have an European bank-account for my wife for the case, that I will die and she should receive her monthly widow-pension in a cheap way. This was the reason, why I opened this thread.
     
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    Justice911

    Justice911 DI Member Showcase Reviewer

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    Look please, what I answered to Show Pony, we are so happy in the Philippines and never will make again futile knees in front of the German Embassy of Manila, the only wish is, to fine a way to get a european bank-account for my filipina.
     
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  3. Notmyrealname

    Notmyrealname DI Forum Patron Highly Rated Poster Showcase Reviewer

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    Yes ... my post showed a comparison based on sending £1000 (rate of exchange and fees considered) to receive:
    Transferwise: 71,780
    Western Union: 70,919.

    That was my comparison during one moment in time - perhaps at other times it may be different. But Transferwise have a good reputation for exchange rates and WU have a poor reputation for exchange rates. There must be a reason for that.

    When I made my comparison based on sending £1000 (rate of exchange and fees considered) the recipient would receive:
    Transferwise: 71,780
    Western Union: 70,919.

    That was my comparison during one moment in time - perhaps at other times it may be different. But Transferwise have a good reputation for exchange rates and WU have a poor reputation for exchange rates. There must be a reason for that.

    I sympathise with your situation and that of all people who chose to marry a foreigner and are treated like dirt by their governments (who at the same time lecture Duterte on 'Human Rights!). At the same time governments are refusing to allow spouses and step-children into the country, they are SELLING Visas to rich foreigners who have no attachment to that country but only have money - sometimes the source is from illegal activities (e.g. Russian oligarchs) but it seems many governments don't really care to look into that as long as they have rich mates to mingle with on their yachts and to receive donations from.
     
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  4. Dr. Shiva

    Dr. Shiva DI Senior Member

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    Rich people can even buy citizenship in many countries without following the standard process for gaining citizenship. And in some countries they pay even less goverment taxes than standard people with same income.
     
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  5. jimeve

    jimeve DI Forum Luminary Highly Rated Poster Showcase Reviewer Blood Donor Veteran Army

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    how much are the fees with Transferwise?
     
  6. Notmyrealname

    Notmyrealname DI Forum Patron Highly Rated Poster Showcase Reviewer

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    Like most sites, it varies with the method of sending the money to the remittance company and receiving the money in the country you are sending to. Using banks is best but you can use a debit card to send and can pick up as cash.

    I just checked on sending £1000 and the rate is 73.48, with a £10.90 transfer fee. I actually sent a remittance about 40 minutes ago and at that time the rate was 73.61 - it varies in real time.

    For comparison, BCremit is fixed at 73.25 (this may not change for 24 hours ... BUT if the pound drops much then they might very quickly drop their rate as well). They charge £6.49 if using online bank transfer.

    So:
    Transferwise would give you P73480 and cost £1010.90 so that equals 72.69 pesos per £.
    BCremit would give P73250 and cost £1006.49 so that equals 72.78 pesos per £.

    So BCremit marginally wins - however just minutes earlier and Transferwise would have won with its rate of 73.61, giving 72.82 pesos per £.

    For SPEED of receiving, I recommend Transferwise. If you ever reach a limit with Transferwise and you need to send more than they will allow that day, then use BCremit as well.

    Transferwise is best also when the RATE is GOING UP .... if you use it when rates are falling then you may not do as well as if you had used one of the 'fixed rate' companies, like BCremit (assuming you get in before they drop their rate!).
     
  7. Rye83

    Rye83 with pastrami Secured Account Highly Rated Poster SC Connoisseur Veteran Army

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    Rich people don't mooch off social programs and actually bring something (money to spend and tax revenue) to countries they immigrate to. They should be prioritized.

    An old man bringing a young wife to their country nearly doubles the length of time that retirement checks and benefits need to be paid out. They are usually a burden to society and are treated as such. :troll::sneaky:
     
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  8. Notmyrealname

    Notmyrealname DI Forum Patron Highly Rated Poster Showcase Reviewer

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    Oh, such a kind heart :smile:
     
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  9. jimeve

    jimeve DI Forum Luminary Highly Rated Poster Showcase Reviewer Blood Donor Veteran Army

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    Worldremit only charge fee 1pence when sending over 1k pounds and compared to Transferwise only half % difference in the rates
     
  10. Brian Oinks

    Brian Oinks That's Mr. Pig to you Boy! :) Highly Rated Poster

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    It sure don't work that way in Australia mate, if she is of working age then she has to actively seek work, get a job, or face the consequences! There she will be cut off of all Benefits if she is not trying to find work, and there is NO Widow's Pension or anything like that in the event her Husband passes away, unless he is a Serviceman (AFAIK) and the Age Pension is not transferable to the Wife upon his death. She has to work like everyone else until she reaches Retirement age... When I kick it, my Wife doesn't even get a Sympathy Card from the Australian Government! :stop:

    I am beginning to understand why American Men are so desirable to Filipina's... :whistling: :smuggrin:
     
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