Wherever you travel, when you transfer money internationally, there will be 2 types of fees. The first is the foreign transfer fee and the second is the exchange rate fee. With this special service, you can save up to 80% of those fees and it’s pretty fast. Supports up to 46 currencies with more currencies coming soon. Here are some examples USD, EUR, AUD, CAD, GBP, SGD, etc. I am using it and it took 2 business days from Germany to Vietnam to transfer it.
bank transfer money
I transferred €500 to Vietnam with the normal bank and the commission was €36.55, which is approximately 7.31% commission!
If I do it with TransferWise, it will cost me only €7.39, which is only 1.48% commission.
by transfer
You can check on this website how much the fee will be if you send money from one country to another country. There you can see that it is significantly lower than any other money transfer. So, in this example, you save around €30 for every €500 bank transfer from Germany to Vietnam. On top of that, they give you a better exchange rate! At that time according to Google, it’s only 25,821.59! It is not only cheaper than banks, but also cheaper than Paypal or exchange offices. You can save even more money compared to other Services, which charge around 10%, due to their high exchange rate.
UPDATE MAY 25, 2018
They are now starting to offer a multi-currency bank account in $, £ and €! No fees! With a MasterCard debit card. Very useful while traveling, because you can use it all over the world with the advantage of the real exchange rate, so you can also save money while traveling and with the TransferWise app, you can see your expenses in real time.
It is also very easy and fast to open this multi-currency bank account, because everything happens online. You don’t need to go anywhere to sign up. Just upload your ID and you’re done. You will receive your debit card within a week and I will get a US bank account, an Australian bank account at the same time, etc.
By clicking on this link, you will get the first transfer of 500 GBP for free. Check it out: Transferwise.
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