WISE currency transfer service - USD to EUR?
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WISE currency transfer service - USD to EUR?
Does anyone have a functioning email address for WISE currency transfer service to find out how their service works and what they need for a SIMPLE transfer of USD $7000.00 from our American bank to deposit the equivalent in EUR into our Portuguese bank? We are Canadians and like many residing near the border we have an account with a US bank for purchases there.
If this works we will need future larger transfers but we will not send large amounts until we have confidence in the service.
I have wasted considerable time on their useless FAQs and their Contact info fails to provide an email address for prospective customers to obtain answers.
I did send an email to [email protected] which I found through an online search but an auto reply simply referred me to the already proven useless FAQs.
We are presently in Portugal and have wasted time at two currency dealers in Portugal who want the funds and all personal info to go through the UK. Since Brexit we fail to see why the UK should be involved in a simple currency transfer from a USD account in the USA to a EUR account in Portugal, let alone obtain our personal info. If we had known of the hassle involved in a simple relatively small money transfer we would have brought the extra cash with us.
Your advice will be appreciated.
If this works we will need future larger transfers but we will not send large amounts until we have confidence in the service.
I have wasted considerable time on their useless FAQs and their Contact info fails to provide an email address for prospective customers to obtain answers.
I did send an email to [email protected] which I found through an online search but an auto reply simply referred me to the already proven useless FAQs.
We are presently in Portugal and have wasted time at two currency dealers in Portugal who want the funds and all personal info to go through the UK. Since Brexit we fail to see why the UK should be involved in a simple currency transfer from a USD account in the USA to a EUR account in Portugal, let alone obtain our personal info. If we had known of the hassle involved in a simple relatively small money transfer we would have brought the extra cash with us.
Your advice will be appreciated.
Silly thought but have you asked your own bank(s) about this? An international transfer of funds should be possible without any extra service in the middle but the downside is most likely the costs that they will charge you for the service. Something like WISE may be cheaper, but usual caveats apply.
I just did a quick search and I see that TransferWise (later WISE) is mentioned as reliable as far back as 2015: Advice on how to send money home
Perhaps it is useful to search for TransferWise on these forums... you may find out more and may be able to PM some people with experience.
I just did a quick search and I see that TransferWise (later WISE) is mentioned as reliable as far back as 2015: Advice on how to send money home
Perhaps it is useful to search for TransferWise on these forums... you may find out more and may be able to PM some people with experience.
If you wish to use Wise, your US bank will pay the money to Wise who will then convert and send the money to your Portuguese bank account,. That's how they operate, that's how all money brokers work.
If you wish to go directly from bank account to bank account, bypassing any intermediaries, you will need to arrange a SWIFT payment through both banks. Find the IBAN of your Portuguese account and then ask your US bank to use SWIFT messaging to credit your Portuguese account.
If you wish to go directly from bank account to bank account, bypassing any intermediaries, you will need to arrange a SWIFT payment through both banks. Find the IBAN of your Portuguese account and then ask your US bank to use SWIFT messaging to credit your Portuguese account.
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This might be out of the box but can you not set up a second paypal account in Portugal and link it to your bank there, then send it from you US / Canadian account, then when it arrives transfer it from your paypal account to your bank account?
https://www.paypal.com/uk/webapps/mpp/paypal-fees
https://www.paypal.com/uk/webapps/mpp/paypal-fees
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I've used CurrencyFair frequently and found it to be reliable, secure and good value. Not sure if it's available in Canada, but seems to be available for US.
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I regularly use Wise to transfer money from UK to Australia to my daughter and found them quick, reliable and cheap. The process is just as described by Prop Swinger.
I use a Starling account to transfer £ to my US account in $. Quick and easy, online and a better rate thanm I used to get from Moneycorp (part of Barclays).
Incidentally getting cash out in euroland on my Starling card also gives me a good exchange rate .. but always avoid the Eurobanks who want to give you a "guaranteed" price in £, as it'll be at least 10% worse.
Incidentally getting cash out in euroland on my Starling card also gives me a good exchange rate .. but always avoid the Eurobanks who want to give you a "guaranteed" price in £, as it'll be at least 10% worse.
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Thanks to all who replied.
We ended up using Currencies4You. They have a very helpful manager at their office in Almancil, Algarve.
USD payments may be made to a USD account in New York NY, thus qualifying as domestic payments in the USA and at a considerably lower fee from the sending bank than if the payment is sent to a USD account at a bank in a foreign location, such as London UK.
Carrier
We ended up using Currencies4You. They have a very helpful manager at their office in Almancil, Algarve.
USD payments may be made to a USD account in New York NY, thus qualifying as domestic payments in the USA and at a considerably lower fee from the sending bank than if the payment is sent to a USD account at a bank in a foreign location, such as London UK.
Carrier
Last edited by Carrier; 26th Jul 2023 at 15:04. Reason: spelling