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TransferWise Reviewed

TransferWise have been making waves in the global money transfer market since they came on the scene back in 2011.

 

TransferWise – Reviewed by Best Exchange Rates

They are the latest venture from some ex Skype engineers and have expanded from the London HQ to an increasing number of overseas locations including Australia and the USA.

Their publicity is famous for both bank-bashing and showing scantily clad devotees to represent their stated desire for transparency when it comes to fees and exchange rates…well that’s the excuse anyhow!
TransferWise is a private, peer-to-peer online money transfer company, which launched in 2011. Headquartered in London, the firm offers money transfer services to and from 17 countries, with the ability to send money to an additional nine countries.

Exchange Rates {
Customer Service 4
Ease of Use ;

Transferwise Foreign Transfer Rates & Fees - Compared

The below live Foreign Transfer comparison table shows how much you could save on your next foreign transfer by using a broker such as Transferwise rather than your bank. Note the margins are compared to the current mid-rate. You can change the currencies and send or receive amount with our full Foreign Transfer calculator.

 

Foreign Transfers - Exchange Rate Comparison

Foreign Transfer Providers
Ratings & Reviews
Receive USD($)Exchange RateFee NZDTotal CostTransfer ServicesTransfer SpeedDeal Links
 
XE logo
6,678 USD0.667800.58%Bank Transfers - Online & Phone1-2 days
 
OFX logo
6,661 USD0.66610^0.83%Bank Transfers - Online & Phone1-2 days
ASB Bank International Money Transfers
ASB Bank logo
6,527.64 USD0.6544252.82%Online, Branch, Bank Transfers2-3 days
HSBC logo
6,521.2 USD0.6531$152.91%Online, Branch, Bank Transfers2-3 days
Banks - Average Rate
ANZ Bank logo HSBC logo BNZ Bank logo ASB Bank logo TSB Bank logo
6,468 USD0.6502223.71%Online, Branch, Bank Transfers2-3 days
 
ANZ Bank logo
6,466.34 USD0.6478183.73%Online, Branch, Bank Transfers2-3 days
TSB Bank International Money Transfers
TSB Bank logo
6,426.09 USD0.6491$1004.33%Online, Branch, Bank Transfers2-3 days
BNZ Bank International Money Transfers
BNZ Bank logo
6,399.36 USD0.6464$1004.73%Online, Branch, Bank Transfers2-3 days
 
XE: Foreign Transfer NZD→USD
NZD amount:$10,000 NZD
Fee:0
Exchange Rate:0.6678 (0.58% from mid-rate)
USD amount:6,678 USD
Total Cost:0.58%
Time:8:45 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone
Rating:
 
: 3.5/5.0
Reviews:
 
OFX: Foreign Transfer NZD→USD
NZD amount:$10,000 NZD
Fee:0^ - No fees for BestExchangeRates users (normally $12 for smaller transfers)
Exchange Rate:0.6661 (0.83% from mid-rate)
USD amount:6,661 USD
Total Cost:0.83%
Difference:
$17 less than using XE
Time:
Rate Fetched: Tue Jan 22 2019 06:06:59 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone
Rating:
 
: 4.8/5.0
Reviews:
ASB Bank: Foreign Transfer NZD→USD
NZD amount:$10,000 NZD
Fee:25
Exchange Rate:0.6544 (2.58% from mid-rate)
USD amount:6,527.64 USD
Total Cost:2.82%
Difference:
$150 less than using XE
Time:8:45 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
HSBC: Foreign Transfer NZD→USD
NZD amount:$10,000 NZD
Fee:$15 NZD (.15%)
Exchange Rate:0.6531 (2.77% from mid-rate)
USD amount:6,521.2 USD
Total Cost:2.91%
Difference:
$157 less than using XE
Time:8:45 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Banks - Average Rate
ANZ Bank logo HSBC logo BNZ Bank logo ASB Bank logo TSB Bank logo

Foreign Transfer NZD→USD
NZD amount:$10,000 NZD
Fee:22
Exchange Rate:0.6381 (5% from mid-rate)
USD amount:6,468 USD
Total Cost:3.71%
Difference:
$210 less than using XE
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
ANZ Bank: Foreign Transfer NZD→USD
NZD amount:$10,000 NZD
Fee:18
Exchange Rate:0.6478 (3.56% from mid-rate)
USD amount:6,466.34 USD
Total Cost:3.73%
Difference:
$212 less than using XE
Time:8:45 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 3/5.0
Reviews:
TSB Bank: Foreign Transfer NZD→USD
NZD amount:$10,000 NZD
Fee:$100 NZD (1%)
Exchange Rate:0.6491 (3.36% from mid-rate)
USD amount:6,426.09 USD
Total Cost:4.33%
Difference:
$252 less than using XE
Time:8:45 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
BNZ Bank: Foreign Transfer NZD→USD
NZD amount:$10,000 NZD
Fee:$100 NZD (1%)
Exchange Rate:0.6464 (3.77% from mid-rate)
USD amount:6,399.36 USD
Total Cost:4.73%
Difference:
$279 less than using XE
Time:8:45 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Sending a LARGER foreign transfer? Shop-around with multiple providers: Get Quotes
 

Exchange Rates

TransferWise makes reasonable efforts to match transactions at exchange rates aligned to the mid-market rate at the global currency markets.

Unless the exchange rate is locked-in pursuant to the section below, TransferWise converts your transaction amount by matching it with a number of different counterparties.

TransferWise Smart Global Transfers

Visit TransferWise and Save

Transferwise changes Eurozone fee structure

In late June 2018, Transferwise introduced a new fee structure for Eurozone foreign transfers (from EUR) … and as always with Transferwise its complicated so we will break it down for you! More expensive for Card payments In most European countries your bank takes 0.20% from your payment as debit card interchange. Add scheme fees […]

2 Jul, 2018 by BER Team

Transferwise changes UK fee structure

In October 2017, Transferwise introduced a new fee structure for foreign transfers from the UK … its complicated so we will break it down for you! Percentage fee The first part of your fee is expressed as a percentage of the amount you’re sending. Transferwise has cut this percentage fee on all but three routes […]

2 Jul, 2018 by BER Team

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Reviews - Average Rating: 4.5

4 Reviews for “TransferWise Reviewed”

  1. Estefania Diaz Clavijo says:

    5 star customer service and service. Thanks for revolutionizing worldwide bank transfers! 😀

    Exchange Rates 5
    Customer Service 4
    Ease of Use 5
  2. gg says:

    Great experience !! Quick and easy to use !!!

    Exchange Rates 5
    Customer Service 4
    Ease of Use 4
  3. Sue S says:

    If you want to transfer funds from one country to another, this service is great – and much easier and much better value than having a normal bank do it. And when I have needed help the staff on the Chat function and on the phone have been super-helpful.

    Exchange Rates 4
    Customer Service 4
    Ease of Use 4
  4. BER Team says:

    Quick, easy and straightforward . Great for sending smaller amounts quickly

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