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0 pointsAnderkent5y ago0 comments

Where do you live? Bank wires are pretty expensive everywhere I've seen. (local bank transfers like ACH are free on TW too)

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wildfire5y ago

In the UK, EU and Australia - probably a few other places too - fees to transfer fund between do not exist (unless you are a business).

AnderkentOP5y ago

I guess this is something that might have changed - but I definitely recall being charged for making transfers from Poland to the UK, and same very recently for Switzerland <-> UK transfers. In both, rather insidiously, the outgoing bank cannot tell me what the final fee will be, and I only find out what was charged when less money appears in the recipient account than what I sent.

fastball5y ago

There is no fee to send money from your TransferWise Borderless UK account to another UK bank account.

Caligatio5y ago

There is, it's just really small: 34p or something.

EDIT: 32p - https://transferwise.com/gb/pricing/borderless-send?source=G...

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kiwijamo5y ago

There's a few for ATM withdrawals over 300 a month. Whereas all banks in New Zealand don't charge any fees for this on most if not all account types.

kiwijamo5y ago

New Zealand too.

hiq5y ago

EU / Switzerland, so I've never experienced this. I thought it was due to SEPA preventing such fees, but that doesn't seem to be the case if I read this section correctly: https://en.wikipedia.org/wiki/Single_Euro_Payments_Area#Char.... I guess healthy competition just killed these fees.

I apparently have to pay €0.28 per transfer in EUR with Transferwise. There are competitors (both in CHF and in EUR) that do this for free. I do something like 8 transfers per month, so that's 8*0.28*12 = €26.88 per year, for no added value. Not convincing.

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wildfire5y ago

In the UK, EU and Australia - probably a few other places too - fees to transfer fund between do not exist (unless you are a business).

AnderkentOP5y ago

fastball5y ago

There is no fee to send money from your TransferWise Borderless UK account to another UK bank account.

Caligatio5y ago

There is, it's just really small: 34p or something.

EDIT: 32p - https://transferwise.com/gb/pricing/borderless-send?source=G...

1 more reply

kiwijamo5y ago

There's a few for ATM withdrawals over 300 a month. Whereas all banks in New Zealand don't charge any fees for this on most if not all account types.

kiwijamo5y ago

New Zealand too.

hiq5y ago

j / k navigate · click thread line to collapse