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Ask HN: Money Transfer Services?
6 points by samajo 3 days ago | hide | past | favorite | 13 comments
what services do you use for money transfer and international payments?

Transferwise (now they are just known as Wise). Been using them for a while for business/vendor payments internationally. Works well and had few minor glitches over the years. Decent FX rates even though they do charge transaction fee on top. But works for us.

Just shows how bad the branding of Wise is. Every mention of Wise I see seems to refer to the old name.

IMO they dropped the most important thing from the old name. Meaning that transfer.com would have been more clear that wise.com. But who am I to talk about branding.

Haha yea. I don't get the point except that it is a shorter name.

I have used TransferWise, Moneygram in the past for international transfers. Good thing about these services is that they let you know in advance the conversion rates and fees which, for some reason, the banks won't let you know until the money gets transferred. I personally don't care about the fees as long as the final amount is better than what other services could offer.

Now a days I have been using skrill and have been impressed with the speed of delivery and the conversion rate. The rates are better than TranseferWise and Moneygram and some of the transfers were done in 1 day! It also allows debit card to be used without any fee which is quite convenient. Although I wonder how do they save money compared to using the ACH payment?

I’ve yet to find anything better than TransferWise (just “Wise” now, I guess), for both personal and business.

If you have multiple options (bank wire, PayPal, TransferWise, etc.), and you’ll be doing this more than once, then I recommend testing all of them with small inputs and comparing net output amount at the destination. There’s no substitute for that level of certainty.

Transferwise. They offer rates that are much closer to the exchange rate than other services in my experience.

I'm surprised nobody has mentioned Stripe yet. Fast and free

Transferwise (Wise). If the country you're sending to is not supported, then WorldRemit.

When noting else is available: Western Union.

When the counter party agrees however, bitcoin is my go to choice.

I've used western union as a last resort. They are expensive. There are not many other options. I found this [1] but have not used the other services. Pros and cons listed for each.

[1] - https://www.nerdwallet.com/article/banking/best-ways-to-wire...


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