windform

So there is no way for the stranger i would be selling to to get the money back after i sent the goods?

Michael

I think that you need to speak to Transferwise about this. I can't say more since I was not involved in selling or buying a product paid via Trasnferwise.

windform

Okay, I will do that, thanks for the help!

cuius

Regularly use Transferwise between UK and Spain. Takes 3/4 hours between initiating transfer and sending money to their UK account, and it appearing in Spanish account. You can specify a fixed amount to reach the receiver's account - you forward a slightly higher amount of your local currency and then Transferwise return the surplus to your account after taking fee and allowing for exchange rates. There is also a facility to fix the exchange rate if there seems to wild fluctuations that day. Fee is fixed at 0.5% irrespective of amount

Michael

<i>People who travel a lot may have a good reason to find a bank with minimal fees for foreign ATM withdrawals.</i>

This may be true between the euro and the pound sterling, but was not between the dollar and the euro transfer when I last inquired; but this may have changed.

chefotto

I have just finished a one hour session with the fraud and security departments of the Bank of America after realizing the stupidity of allowing transferwise access to my online account. Unless the site has been hacked..a distinct possobolity.. transferwise requires log in name and password for online banking. When I woke up in the middle of the night after providing both and went to change log in information, I found a request in my email for a photo of my state identity card. BofA is blocking my account after halting the already initiated transfer.

Assuming that this was the correct site and not a hijack from transferwise.com, their policies are extremely risky for users, not last due to the inescapable vulnerability of ant connected database. (if the site does. ot require login information, it has been hacked)

I need to change accounts now, which I cannot do before returning to the US inm February. I'd say think twice before using it.

Michael

The login name and password do not have to be the same as those of your BofA account. The only BofA information you have to give is the same information given for any electronic transfer.

I have a friend who has a British grant for research in the States. Transferwise turned out to be the cheapest way to transfer the grant money deposited in a British bank to an American bank, and this has been a monthly occurrence for the last year and a half.

AJPeabody

How do you know it isn't your own computer communication that was hacked?

julies

Any current experience with this service? Recommended or not recommended?

We're from the US and need to pay for a cycling trip in France. The owner of this small company told us she had had several US customers successfully use this recently. Our other option would be Paypal which probably charges a slightly higher fee but is still less expensive than a regular bank transfer.

Michael

<i>Any current experience with this service? Recommended or not recommended?
</i>

If Transferwise, I posted because I had a good experience. My friend, who is on a three year research grant in the States, but paid by a UK foundation in pounds uses it exclusively to transfer money to the U.S.