TransferWise: Banking and currency exchange

[BPNBound]

Count me in as a fan.

I was slightly cautious so sent 2 lots of $USD4k from HSBC Indonesia to Commonwealth Bank in Australia (CBA) yesterday afternoon (WIT)

HSBC, I converted in house to AUD and sent to CBA = $AUD 5,549 ( Transfer appeared this morning)
HSBC, transferred to Barclays UK (Transferwise) and then to CBA= $AUD 5,785 ( Took 30 minutes!)


The transfer via HSBC cost me $AUD 30 in charges, The fees for transferwise was $10 USD.

Transferwise was better by $AUD 250. If I had gone all in... a nice $AUD 500 saving.

Thats a $AUD 6,000 or more yearly saving for me!

 

[make_batik_great_again]

Transferwise has lowered the fees...also for transfers to IDR:

We've lowered our fees to send money to IDR, MYR, PHP, and PKR 🎉

Last month, we dropped our fees to send money to IDR, MYR, PKR, and PHP. We’ve done this because it’s the right thing to do. When people and businesses switch...

transferwise.com