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Sending money abroad to someone

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  • 06-11-2014 2:26am
    #1
    _Whimsical_
    Registered Users Posts: 7,953 ✭✭✭


    Is there a best way to send money abroad to Australia?
    Ideally I would prefer a way that attracts minimal conversion and banking fees so the other person receives as much as possible. I've never done it before so I presume that from my bank account to someone else's is the best way?
    It's not a payment for an item or a service it is a personal thing.


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    #2
    NIMAN
    Registered Users Posts: 33,606 ✭✭✭✭NIMAN


    CurrencyFair or TransferWise?

    I use the former, find it excellent.


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    #3
    dobsdave
    Closed Accounts Posts: 1,814 ✭✭✭dobsdave


    NIMAN wrote: »
    CurrencyFair or TransferWise?

    I use the former, find it excellent.

    I have used Currencyfair for about 4 years eur to gbp.
    If I transfer eur to currencyfair on day1 before 3.30pm, it clears on day2 morning and gets into my Bank of Ireland stg account at 3.30pm that day.
    So it takes 24hrs, if timed right.

    Currencyfair charge me 3 pounds, and bank of Ireland charge 5 pounds.
    Can anyone tell me what transferwise is like time wise?
    What system do they use to transfer sterling (C.H.A.P.S?)


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