Currency Fair For Transferring Money?

JustRoss23

Hey guys do/did any of you use currency fair to transfer money to canada? right now there offering 1euro=$1.33c compared to the banks of 1euro-$1.29c. just wondering how easy the process is how long does it take in total etc any help be great:D:D

COYVB

Just take the money out at a Canadian ATM - you'll get the best rate

JustRoss23

really ? but you will get charged a fortune by both Irish and Canada banks for withdrawing wont you?:D i was told the ulster bank visa debit does not work in a lot of atms:(

gary27

I probably go with currency fair they only charge €3 for transfer and give a good currency rate,
I don't think I will be using my credit card/atm card to withdraw funds in Canada as you will be charged probably a lower currency rate and a international handling fee/charge.

COYVB

JustRoss23 wrote: »

really ? but you will get charged a fortune by both Irish and Canada banks for withdrawing wont you?:D i was told the ulster bank visa debit does not work in a lot of atms:(

Not sure where you got the idea you get charged a fortune. On the Canadian side it's about $1.50 per transaction, and I assume the Irish one isn't a million miles away from that. Obviously you don't want to be making 3-4 transactions a day, but you could comfortably take out 2 week's money in one go

COYVB

gary27 wrote: »

I probably go with currency fair they only charge €3 for transfer and give a good currency rate,
I don't think I will be using my credit card/atm card to withdraw funds in Canada as you will be charged probably a lower currency rate and a international handling fee/charge.

See above. I've been here for 4 years, you get the best deal with ATMs

gary27

COYVB wrote: »

See above. I've been here for 4 years, you get the best deal with ATMs

thanks, would you recommend using your irish banks cirrus card or mastercard?

gary27

I looked at the exchange rates for scotiabank for today;
http://www.scotiabank.com/rates/fxrates.html

they buy Euro at 1.288800 not 1.377200 as previously stated.

JustRoss23

really for on euro they give 1.37 hmm?:D

gary27

JustRoss23 wrote: »

really for on euro they give 1.37 hmm?:D

thats what it says not sure what you will actually get if they take a fee also and do you need an account with them too?.

JustRoss23

i dont no mate now tbh:D i have planned on bringing 800-1000$ with me and setting up currency fair and riging that up to my scotiabank account and doing 2 remaining transfers for the rest of my money:D but if its just as good rate for atms i might just do that:D

COYVB

gary27 wrote: »

I looked at the exchange rates for scotiabank for today;
http://www.scotiabank.com/rates/fxrates.html

its says they buy Euro at 1.377200

Niope. It says client buys. That's you.

gary27

COYVB wrote: »

Niope. It says client buys. That's you.

thanks, its the other opposite rate then.

JustRoss23

yea 1.28 which sucks so ulster bank would give ya more its currency fair all the way soo:D

gary27

JustRoss23 wrote: »

yea 1.28 which sucks so ulster bank would give ya more its currency fair all the way soo:D

yeah i guess so.

JustRoss23

thats what i am gonna do anyway gonna transfer the next time the euro is geting 1.35 and allow it to sit in the currency fair account then when i set it up transfer it over should have it in 2 working days happy days:D

gary27

JustRoss23 wrote: »

thats what i am gonna do anyway gonna transfer the next time the euro is geting 1.35 and allow it to sit in the currency fair account then when i set it up transfer it over should have it in 2 working days happy days:D

do you pay money into currency fair like paypal then transfer when you want?

JustRoss23

what you do is set up account with currency i have that done so basically when it hits your requirement amount you transfer it in to the currency account after a day it clears and then its free to transfer in to your chosen canada account. seems simply enough:D

gary27

JustRoss23 wrote: »

what you do is set up account with currency i have that done so basically when it hits your requirement amount you transfer it in to the currency account after a day it clears and then its free to transfer in to your chosen canada account. seems simply enough:D

what do you mean by hits your requirement amount then transfer into currency account, can you not transfer one large sum? its done by bank transfer?

JustRoss23

well i mean like when you feel happy like say today its 1.33 where as too days ago it was 1.35 so i have set on 1.35 so when that happens i will transfer its all about watching currency fair website as the market prices change daily:D yea you can transfer as large amount as you want. yea its done by bank transfer look up the website theres videos and it explain how they do etc:D the money is 100% safe anyway:)

gary27

JustRoss23 wrote: »

well i mean like when you feel happy like say today its 1.33 where as too days ago it was 1.35 so i have set on 1.35 so when that happens i will transfer its all about watching currency fair website as the market prices change daily:D yea you can transfer as large amount as you want. yea its done by bank transfer look up the website theres videos and it explain how they do etc:D the money is 100% safe anyway:)

thanks Ross , so when your in Canada if it hits 1.35 you will transfer it, it might never hit it or may go the other way.

JustRoss23

no when i am in Ireland i will transfer it like if it hits it tomorrow i have the currency fair account set up and linked to my irish account so i will transfer however much i want at the rate of 1.35 to the account so that means its lieing in the account then when i get over there set up the bank account and transfer it over simply:D yea it might not but i would be hoping it does its been changing from 1.33-1.36 the last few weeks but i only set up the account a few days ago:D
basically you can just link have the irish account the one that's depositing money into my currency fair and have my canada account the one that's recieveng it:D

gary27

JustRoss23 wrote: »

no when i am in Ireland i will transfer it like if it hits it tomorrow i have the currency fair account set up and linked to my irish account so i will transfer however much i want at the rate of 1.35 to the account so that means its lieing in the account then when i get over there set up the bank account and transfer it over simply:D yea it might not but i would be hoping it does its been changing from 1.33-1.36 the last few weeks but i only set up the account a few days ago:D
basically you can just link have the irish account the one that's depositing money into my currency fair and have my canada account the one that's recieveng it:D

got ya, seems handy enough then.

kronsington

Has anyone used this recently? I need to get money to my Irish account ASAP... In with scotia bank.. Haven't used CF before and just set up account

fergusb

kronsington wrote: »

Has anyone used this recently? I need to get money to my Irish account ASAP... In with scotia bank.. Haven't used CF before and just set up account

I was looking into this with Scotiabank before, but unfortunately Scotiabank doesn't provide an easy method of transferring the money to the Canadian CurrencyFair bank account.

I went into Scotiabank to ask about this (since I just want to transfer to a account number/iban). But they said the only way to do it was by filling out a form and paying $15(?) dollars which seems a bit of a scam.

dealhunter1985

fergusb wrote: »

I was looking into this with Scotiabank before, but unfortunately Scotiabank doesn't provide an easy method of transferring the money to the Canadian CurrencyFair bank account.

I went into Scotiabank to ask about this (since I just want to transfer to a account number/iban). But they said the only way to do it was by filling out a form and paying $15(?) dollars which seems a bit of a scam.

A simple solution (which I did) was to setup an account with ING Direct (Tangerine). It is totally free. And with them, you can do a free email transfer of the money from your Tangerine account to your currency fair account.
You would just have to pay the cost of the interac transfer from your Scotia account to your Tangerine account.

davey boy

dealhunter1985 wrote: »

A simple solution (which I did) was to setup an account with ING Direct (Tangerine). It is totally free. And with them, you can do a free email transfer of the money from your Tangerine account to your currency fair account.
You would just have to pay the cost of the interac transfer from your Scotia account to your Tangerine account.

I am trying to send money out of Canada too but TD want $30 to wire transfer from my td account to the currencyfair account. Do you need the receivers email address to do an interac transfer? What email address did you use for currencyfair? Hopefully I can do this too as I have free interac email transfers with TD. Thanks.

dealhunter1985

davey boy wrote: »

I am trying to send money out of Canada too but TD want $30 to wire transfer from my td account to the currencyfair account. Do you need the receivers email address to do an interac transfer? What email address did you use for currencyfair? Hopefully I can do this too as I have free interac email transfers with TD. Thanks.

What I have described is to transfer money OUT of Canada..
You can only email the money to Currencyfair from a Tangerine account.
It is not an Interac transfer.. Its something similar but specific to Tangerine clients.
In your tangerine account, you hit 'Email My Money'.
Within that you are given two options..
1. Free! Tangerine Email Money Transfer (2-3 business days)
2. $1.00 Interac® e-Transfer (Instant)

You opt for the first option and email the money to theteam@currencyfair.com and quote your currencyfair account number in the message reference field.

kronsington

dealhunter1985 wrote: »

A simple solution (which I did) was to setup an account with ING Direct (Tangerine). It is totally free. And with them, you can do a free email transfer of the money from your Tangerine account to your currency fair account.
You would just have to pay the cost of the interac transfer from your Scotia account to your Tangerine account.

so just to be clear, its possible to sign up Tangerine and also be a scotia bank customer?? scotia bank were useless when i approached about transferring money home.. another example of things being unncesarily awkward here in canada.. i need to get money to my irish account so ill look at doing it this way.. pain in the balls admittedly

dealhunter1985

of course.
Just go here and click enroll now
http://www.tangerine.ca/en/chequing/chequing-account/index.html

Crann na Beatha

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