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Cheapest and safest way to transfer money to UK?
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- Lemon Slice
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Re: Cheapest and safest way to transfer money to UK?
Have a look at these two which both handle Aussie Dollars:
http://www.currencyfair.com (I have used them in the past, all went well)
http://www.revolut.com - I have never used them and they are more than just a currency transfer company - more info at:
http://www.moneyunder30.com/revolut-rev ... currencies
HTH
Neddy
http://www.currencyfair.com (I have used them in the past, all went well)
http://www.revolut.com - I have never used them and they are more than just a currency transfer company - more info at:
http://www.moneyunder30.com/revolut-rev ... currencies
HTH
Neddy
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- Lemon Quarter
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Re: Cheapest and safest way to transfer money to UK?
Here's a couple of challenger banks to consider:
https://www.ebury.com/
Connection: I use this bank in a professional capacity.
and:
https://www.worldfirst.com/uk/
Connection: Someone I know works at this bank.
HTH,
Watis
https://www.ebury.com/
Connection: I use this bank in a professional capacity.
and:
https://www.worldfirst.com/uk/
Connection: Someone I know works at this bank.
HTH,
Watis
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- Lemon Slice
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Re: Cheapest and safest way to transfer money to UK?
I can second the recommendation for Transferwise. I regularly use it to send funds to Australia (no experience of transfers the other way as needed by the OP). Very quick, transfer is at mid rate less a reasonable fee. You can just look at the web site to see what you would get for the quantity of A$ you want to transfer.
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- 2 Lemon pips
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Re: Cheapest and safest way to transfer money to UK?
I have used Transferwise for transferring money from the UK. Very satisfied with the service.
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- Lemon Slice
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Re: Cheapest and safest way to transfer money to UK?
WRT to the references above, I've used Revolut for all expenditure abroad since late 2016 as does my family and many friends now, and it's been without any issues at all. We haven't used it for transferring money above normal levels of expenditure though.
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- Lemon Slice
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Re: Cheapest and safest way to transfer money to UK?
FredBloggs wrote:BrummieDave wrote:WRT to the references above, I've used Revolut for all expenditure abroad since late 2016 as does my family and many friends now, and it's been without any issues at all. We haven't used it for transferring money above normal levels of expenditure though.
Thanks. It seems that being resident in Oz with all my details here being Ozzie, I have to have an Oz Revolut account. As I said earlier, it hasn't launched here just yet. (Slightly off topic, I had to open a new PayPal account here. My UK centric PayPal account wouldn't work with my Ozzie bank account.)
Very possibly, although I have given mine a good exercising in Australia!
I didn't realise they were country specific.
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- Lemon Slice
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Re: Cheapest and safest way to transfer money to UK?
I always use Currency Fair, transferring from my Commo account and into Lloyds here and vice-versa.
I did check out an alternative (can't recall who it was but was mentioned on LF) but found Currency Fair suited me better.
Certainly much better rates than big retail banks.
I did check out an alternative (can't recall who it was but was mentioned on LF) but found Currency Fair suited me better.
Certainly much better rates than big retail banks.
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- Lemon Slice
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Re: Cheapest and safest way to transfer money to UK?
FredBloggs wrote:Slight snag...... Revolut is available in Australia "real soon". Apparently I am now number 10420 on the waiting list for priority access to Revolut in Australia. It seems I can't use my UK Revolut card here then?
Yes I think you can, whether it will work to your liking is a different matter.
When you try to top-up by bank transfer in Aus dollars, it provides a UK account, so you'd have to do an international transfer, and probably get hit for charges on that.
The other option is to top up with a debit card, I think that you'd just have to make sure that when you add the aus card, it is added in aus currency, so they take X aus dollars from the card. I think you'd then be able to switch it to GBP @ interbank rates. It's worth a shot at least, perhaps try it with a 20 dollars. The max for free per month is about £5k, I assume it's something similar for Aus but you'd need to check.
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- Lemon Slice
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Re: Cheapest and safest way to transfer money to UK?
FredBloggs wrote:I think I may try Transferwise as recommended here. It costs AUD 53 using them to transfer the equivalent of GBP 6000 using them. They basically charge 0.5% plus AUD 1 of the official FX rate. As opposed to the bank that gouged me for 10 times that.
Currency Fair have a flat fee of AUD 4 / £2.50 depending which way you go. No minimum transfer amount. You can check the X-rate before committing and either transfer spot or at a pre-determined rate if you think it'll change and aren't in a hurry.
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- Lemon Slice
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Re: Cheapest and safest way to transfer money to UK?
Maroochydore wrote:FredBloggs wrote:I think I may try Transferwise as recommended here. It costs AUD 53 using them to transfer the equivalent of GBP 6000 using them. They basically charge 0.5% plus AUD 1 of the official FX rate. As opposed to the bank that gouged me for 10 times that.
Currency Fair have a flat fee of AUD 4 / £2.50 depending which way you go. No minimum transfer amount. You can check the X-rate before committing and either transfer spot or at a pre-determined rate if you think it'll change and aren't in a hurry.
Any idea how tight their spot rate is?
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