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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.

 

Compare USD to EUR Foreign Transfers vs TransferWise TransferWise logo

Foreign Transfer ProvidersAmount EUR(€)Exchange RateFee USDTotal CostTransfer ServicesTransfer SpeedReviewsDeal Links
OFX logo
8,708 EUR0.87080^1.52%Bank Transfers - Online & Phone1-2 days
 
WorldFirst logo
8,704 EUR0.870401.56%Bank Transfers - Online & Phone1-2 days
 
Wells Fargo Bank logo
8,527.62 EUR0.8543183.56%Online, Branch, Bank Transfers2-3 days
HSBC logo
8,521.2 EUR0.8534$153.63%Online, Branch, Bank Transfers2-3 days
Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo
8,469 EUR0.8519154.22%Online, Branch, Bank Transfers2-3 days
Bank of America
Bank of America logo
8,414.01 EUR0.8499$1004.84%Online, Branch, Bank Transfers2-3 days
U.S. Bank
U.S. Bank logo
8,414.01 EUR0.8499$1004.84%Online, Branch, Bank Transfers2-3 days
Xoom logo
Your amount above the Xoom USD2999 maximum
 
TransferWise logo
Your amount above the TransferWise USD5000 maximum
 
 
OFX: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:0^ - No fees for BestExchangeRates users (normally $12 for smaller transfers)
Exchange Rate:0.8708 (1.52% from mid-rate)
EUR amount:8,708 EUR
Total Cost:1.52%
Time:
Rate Fetched: Sun Dec 16 2018 16:02:22 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone
Rating:
 
: 4.8/5.0
Reviews:
WorldFirst: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:
Exchange Rate:0.8704 (1.56% from mid-rate)
EUR amount:8,704 EUR
Total Cost:1.56%
Difference:
€4 less than using OFX
Time:16:45 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone
Rating:
 
: 4.6/5.0
Reviews:
Wells Fargo Bank: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:18
Exchange Rate:0.8543 (3.38% from mid-rate)
EUR amount:8,527.62 EUR
Total Cost:3.56%
Difference:
€180 less than using OFX
Time:16:45 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
HSBC: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:$15 USD (.15%)
Exchange Rate:0.8534 (3.48% from mid-rate)
EUR amount:8,521.2 EUR
Total Cost:3.63%
Difference:
€187 less than using OFX
Time:16:45 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo

Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:15
Exchange Rate:0.8482 (4.07% from mid-rate)
EUR amount:8,469 EUR
Total Cost:4.22%
Difference:
€239 less than using OFX
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Bank of America: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:0.8499 (3.88% from mid-rate)
EUR amount:8,414.01 EUR
Total Cost:4.84%
Difference:
€294 less than using OFX
Time:16:45 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
U.S. Bank: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:0.8499 (3.88% from mid-rate)
EUR amount:8,414.01 EUR
Total Cost:4.84%
Difference:
€294 less than using OFX
Time:16:45 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
Xoom: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:
Transfer Speed:
Services:
Rating:
 
: 4.2/5.0
Reviews:
TransferWise: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:
Transfer Speed:1-2 days
Services:Bank Transfers - Online
Rating:
 
: 4.6/5.0
Reviews:
 
Sending a LARGER foreign transfer? Shop-around with multiple providers: Get Quotes
Rates @ 12/16/2018.
Total Cost = Fee + exchange rate margin vs USD/EUR mid-rate: 0.8842
 

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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