bwatt99

Moneycorp or transferwise

15 posts in this topic

I have been using moneycorp for few years now from uk to send money to australia before we moved and from time to time send money back to uk from here in australia.

Its been a while sincevi did it from uk to australia and im wondering if my account will be still set up for this.

 

I also have come across transferwise tonight anyone used them?

Im hearing they are good exchange rates and low fees. I do get fee free from moneycorp.

But how does moneycorp compare to transferwise.

Im sure transferwise wanted me to do id.

 

My issue is here what id?

And what place as i have id from uk and australia.

Im looking to transfer from uk to australia so when its askibg for address etc is this uk or australia? As i still have my uk bank cards addressed to my parents home.

 

It may take a look into transferwise another time as may take a while which i want to transfer asap but would moneycorp match there exchange?

 

I have had no issues with moneycorp just want the best for my money right now

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Moneycorp
Moneycorp

I've been using transferwise for a few months now. Absolutely excellent. A bit of a hassle to setup in Canada (don't know about UK), but smooth ever since.

 

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Problem is when signing up where do you set up from where you currently live? Im in australia but have accounts both in uk and here.

So as im looking to transfer from uk to here what details to i give ie address i take australia?

Its just when i did this but stopped until i find out more it asked aud bank details?

But im sending from uk.

I would want to move money from here to uk as well but my priority would be for now uk to here.

I do get fee free from money corp so does it really pay to use transferwise?

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I setup in Canada and Australia while living in Canada. Australia was easy, Canada was a hassle. But that's Canada for you. I can't comment on the UK. I can tell you I've used moneycorp to transfer from my UK account to Australia and the rate shown in the teaser box was better than what I actually received. Transferwise shows you in real time what you will actually get. The rate is better than most and the fee is pretty low. It easily beat anything I compared to FROM Canada, but I don't have a direct comparison with moneycorp in the UK. If you are able to tell exactly what moneycorp will give you on a transaction after fees, etc then you can compare immediately with transferwise. The rate it shows is actually what they will give you.

 

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We've used both. Depends how much you're sending but in general transfer wise always put more into our account at the end of the transaction. But if any hassles with ID, then you have moneycorp as back up.. Hubby says it was easy setting up transfer wise, create account and scan in ID when asked. He used aus passport and can move money anywhere x

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We use Transferwise every month, as all our income is from UK so our transfer is from UK to Oz and can't fault them, mostly get a better rate and the transfers are very very quick.

 

We previously used Forex, but switched about 9 months ago, definitely a good move.

Edited by ramot

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I use transferwise for both business and personal. However, I have kept my eye on CurrencyFair and they are consistently coming up slightly better than Transferwise. I did try to set up an account with them - but it was so long winded - I gave up!

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We aranged our usual transfer yesterday and it's in our account today. That's how fast transfer wise is.

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I have been with moneycorp for past 4 years but comparing them to transferwise rate wise is crap,so I'm tempted to move over.

i was going to try and send id but section it asked me to verify now and says it's done?

is this just another method of verification?

as I have not sent photo Id and don't see it asking me now.

also I still have two uk accounts and I have two oz accounts from time to time I like to send money from oz to uk with moneycorp which is all set up and has been for a while now.

and as of now I am slowly transferring from uk to oz.

having not set up when I found transferwise a few days back I just went for moneycorp as was already set up both ends but I'm not liking the exchange I'm getting compared to transferwise.

 

my question is can I use one transferwise account or do I need to accounts? As its asks my address which is australia but I changed that to uk.

so what happens if I want to exchange from uk to oz I should be ok? But what I want to go from oz to uk will that uk address be problems?

im not sure if I need to accounts or just the one?

i have currently added two oz accounts as recipients and one from uk.

 

but confused if my profile of uk address will be an issue.

 

my uk accounts are address to my parents address and oz accounts addressed to where we live in oz.

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I have been with moneycorp for past 4 years but comparing them to transferwise rate wise is crap,so I'm tempted to move over.

 

This thread picqued my curiosity. I haven't moved any money for a while from the UK though will have to do so next year. Moneycorp would quote me on the phone a better rate for a larger transfer but even then as I recall it would be 1% or 2% below the interbank rate.

 

Just looked at Transferwise website and they pay the actual interbank rate deducting a fee roughly equivalent to 0.6% of the sum to be transferred. This seems a really good and transparent arrangement. They seem to be the only company too where you can go online and see exactly what you will get without requesting a personalised quote.

 

I guess you are paying at Moneycorp etc for that personal touch when all you want is for money to leave one bank account and be deposited in another.

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Can anyone tell me if you have transferred some funds from your uk bank account to there account can you get it all back.. im asking them by email to match transferwise rate by emailing them in fact about various things in past they was very quick in responding now they seem to never reply. Have sent several emails regarding a few things still not replying. And im liking the way you see up front from transferwise what you get.

So im thinking of asking moneycorp my funds back im not sure they are as good as they used to be,well not for me anyway.

My issue with transferwise is i am ready to go use?

Have added two oz accounts and one uk account and for address my address where my uk cards are too.

But i live in oz. I just dont know if you need to have one account for oz and one for uk or can use one for all.

As of right now i wanted to move money from uk to oz but from time to time from oz to uk.

I have not provided any photo id its says im verfied bit confused.

If i wanted to use transferwise i would want to asap. Not days later trying to give them id and stuff to get going.

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Used Moneycorp til recently when they closed their AUD account and you now have to pay in to a GBP account. My Aussie bank app wouldn't take the details for a UK account - it needed a BSB, wouldn't take a sort code. I called Moneycorp but was told I now just have to do whatever my bank requires to pay in to a UK account. Basically they made it less convenient for me to use them so I setup Transferwise today, did a test transaction and the money was in my UK account the same day. I can do the whole thing from my phone so it's Transferwise from now on for me

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Used Moneycorp til recently when they closed their AUD account and you now have to pay in to a GBP account. My Aussie bank app wouldn't take the details for a UK account - it needed a BSB, wouldn't take a sort code. I called Moneycorp but was told I now just have to do whatever my bank requires to pay in to a UK account. Basically they made it less convenient for me to use them so I setup Transferwise today, did a test transaction and the money was in my UK account the same day. I can do the whole thing from my phone so it's Transferwise from now on for me

 

So thats a uk account they have changed to? I noticed an email saying they was changing and never really thought nothing of it. Entered the details but no bank name came up company name came up.

But it entered ok but maybe it does not work? As not tried sending aud to uk account yet.

If its now a uk bank surely it will not work with most banks now? Anyone tried?

I did look into transferwise few weeks back when i wanted to move money this time from uk to oz and transferwise was showing better deal.

I tried moneycorp but said the deal the offer is not real you dont get what you see etc.

So the gave a better rate but was still less than transferwise.

Did you need much to set it up make transfer as im sure you needed to provide id and stuff but mine seemed to say i was ready to go??

Should i do a little transfer first see if all ok or what as im not even sure if i have set up my transferwise account right?

If moneycorp has made it harder to transfer from au to uk then like you i be moving to transferwise as it was handy to transfer from au to uk every once in a while.

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I also have found they are crap now at replying to emails,before used to be quick these days they rarely bother unless its just me.

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Also im so used to using moneycorp im confused what im doing with transferwise, i have 1 uk account and 2 aud accounts in my transferwise account to make a transfer from my uk bank account in my transferwise account to one of my aud accounts what am i supposed to select the aud account i want to pay money into?

How does it know to take gbp from my uk bank account?

Sorry newbie here and not 100% sure how it works.

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