The Money Mustache Community
Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: alwaysonit on July 09, 2014, 06:17:25 PM
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Is this the best way of transferring currencies (other than Norberts Gambit for USD/CAD)?
It's a peer to peer currency exchange so I assume it beats standard FX brokers such as torFX or Global Reach Partners?
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Yes.
It's more UK/EU focused - in the US and Canada you have to pay wire fees, they don't accept bill pay or cheque/check. Not sure about elsewhere.
In the UK, deposit in is free. Same for EU I believe.
For all, they charge a few of the local currency for a transfer out ($4, 3GBP, etc). Still much cheaper than the normal places.
For day to day, it's probably cheaper using a foreign-exchange-fee free card in the currency you have the money to spend. Obviously this doesn't work for all things, but it might for some.