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Better option in transferring money to Australia

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Which is the better option in transferring money to Australia , Moneycorp or Transferwise ? Any other suggestions? I am looking to transfer something between 5000 GBP to 8,000 GBP to an Australian bank account ?

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Same here, watching this thread.


MCITP SQL Server 2005/2008, MCTS Microsoft Business Intelligence SQL Server 2008, MCSE Windows Server 2000/2003, ITIL Foundation.

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Check their rates and if they have any fees is how I'd compare. See what you'd come out with at the end and keep in mind rates can and do change so what you may get today, you may not tomorrow. 

I've not used either of those but plenty on here use Moneycorp. We use HiFX. 

 

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Thank you, I'll check them both out. Presumably you've no reason not to recommend HIFX?

Regards,

Paul.


MCITP SQL Server 2005/2008, MCTS Microsoft Business Intelligence SQL Server 2008, MCSE Windows Server 2000/2003, ITIL Foundation.

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11 minutes ago, PW1 said:

Thank you, I'll check them both out. Presumably you've no reason not to recommend HIFX?

We've been using them for over 4 years now. No plans to change :) 

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I use Transferwise - don't know about other providers, but Transferwise charged about 5 or 6 quid instead of the 25 I paid using my UK bank.  I''ve never had any problems - not used it for a while come to think of it. Once I started working again I did not need regular transfers from the UK. I'm going to use it soon though.

I've got card readers for both my UK bank accounts.

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Thank you all for your replies and suggestions. Never heard of HIFX. Will check that out. Expecting more replies. 

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Anyone else get a really low rate on Money Corp compared with TranferWise. 

100,000gbp = 161,xxx with MC

100,000gbp- 173,xxx with TW ? 

Why so much difference?

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Poms in Oz members do not pay any transfer fees sending money to Oz with moneycorp, we have always used them with no problems.

:)

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I signed up thru this site, and

still ended up paying a fee. ?


MCITP SQL Server 2005/2008, MCTS Microsoft Business Intelligence SQL Server 2008, MCSE Windows Server 2000/2003, ITIL Foundation.

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3 hours ago, PW1 said:

I signed up thru this site, and

still ended up paying a fee. ?

That happened to me too, it was a glitch. Contact them and they'll refund the fee.

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Scot by birth, emigrated 1985 | Aussie husband granted UK spouse visa March 2015, moved to UK May 2015 | Returned to Oz June 2016

My new novel, A Dance With Danger, is due out August 2022

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I used to use CurrencyFair, which worked out to 0.7% on the rate shown on Google (Interbank rate?). However, a friend recently put me on to Revolut, which charge 0%.

They're primarily an FX debit card that probably makes their revenue on investing your balance (which pays 0% interest), but they permit commission-free FX transactions of your funds within their platform, and then you can transfer out in that currency to a local bank account in the country.

I had to move around £5000 to AU recently to cover some bills, and I used Currencyfair since I already had the funds in there. But I gave Revolut a quick go with a test balance - paid £10 from my card on the app, then converted to AUD, and then set up a bank transfer to my AU bank account for $10. It all worked fine and the funds arrived. They take 5 days for some reason, but there was no fee at all, no commission, and no FX spread. They only permit £5000 a month to prevent large fees to themselves, but that should suit you nicely.


D

 

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I use TorFX for sending relatively small amounts monthly from my UK salary. Typically GBP250. No fees and a fairly competetive rate as far as I know (certainlly compared to what high street banks offer). Trasnfers are quite slow though - typically 4-5 days to our Bendigo savings account from Lloyds in the UK, but I think that's more to do with Bendigo than TorFX - they're a bit behind the big banks in terms of real time processing it seems, but I'll take the hit in return for the easy to reach call centre and pretty good cust service.

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That happened to me too, it was a glitch. Contact them and they'll refund the fee.

Only just seen your reply, by chance. How can I prove it was a glitch? Is it well known? Did you call or email? Thank you

MCITP SQL Server 2005/2008, MCTS Microsoft Business Intelligence SQL Server 2008, MCSE Windows Server 2000/2003, ITIL Foundation.

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