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

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.

 

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.

 

how much are the fees with Transferwise?

 

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!).

 

Oh, such a kind heart

 

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

 

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!

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