TransferWise Review

TransferWise money without borders

TransferWise is one of the most successful startups in online money transfers industry. Usually the origins of the company are described in the following way. An entrepreneur from Estonia, and first Skype employee, grew tired of having to pay massive fees to banks in order to transfer his money to Estonia from the UK. He came up with the absolutely brilliant idea of matching up remittance senders with receivers who were in the same country. This resulted in the launch of TransferWise, complete with an office sauna as well as employees who were committed to taking on those evil entities called banks who do not value consumers. Funding for the startup was received from leading investors including Ben Horowitz, Richard Branson and Peter Thiel. With a $1.18 billion valuation, it became the most expensive ever “unicorn.” Like any good story, and in an otherwise mundane PR collection, TransferWise is truly a standout. This one definitely has all of the major elements: helpless suffering victims, old conniving despots, and a handsome savoir with plenty of clever tricks up his sleeve. Their gained amazing 9.5 of 10 rating on TrustPilot , dozens of bloggers with their TransferWise review posts and tons of positive social signals Read More …

GBP/EUR – Three more months of suffering

GBP to EUR rate 08.08.2017

Last week was horrible for Sterling and current exchange rate for GBP/EUR droped to 1.10 according to XE.com . Moreover we can expect it going even below that level. As you remember the recent drop is associated with unfavourable reports from Super Thursday and inflation rate data. All this is shaking the confidence towards British currency and economy. Meanwhile there are some signals coming from fundamental analysts that say GBP to EUR exchange rate will probably start slow recover in 3 months. However the year-end target among currency exchange analysts community is just 1.12 against EUR and 1.28 against USD. Financial analyst Asmara Jamaleh expects some recovery as well as further high volatility of pounds Sterling rate. Most probably we can expect the rate going up and down in between 1.09 and 1.15. However it’s still very hard to make predictions as long as uncertainty over Brexit is still not removed. As of now UK government proposed to pay 40 billion compensation for leaving the EU while Brussels expects it to be at least 60 billion. In reality the lowest boundary seems to be around 50 billion. Apparently the UK is trying to reduce this figure as much as possible but Read More …

TransferWise vs PayPal Comparison

TransferWise vs PayPal

If you run a business that relies on overseas employees or freelancers or if you are an expat, you will know the endless struggle and high costs that come with sending money each month. PayPal is typical choice to start from but sooner or later you will be looking for alternative way for making online payments with lower fees. There are many fees for international money transfers and the exchange rates can easily eat into your budget. Over the years, many people have turned to PayPal to help, but more and more people are looking at other services including TransferWise. It is important that you compare the two services before you determine which one you should be using. Also if you have no any bank account yet or you want to pay without credit card TransferWise is still right choice for you. The Reputation And Safety Knowing if a company that will handle your money is legitimate and safe is vital. A scam company could make off with your money and you may not have any recourse or means of getting this back. PayPal is one of the earliest internet startups and was created before the dot com bubble in Read More …

CurrencyFair Review

CurrencyFair was established in 2010. They offer a money transfer and conversion methods that you may do face-to-face, online or over the telephone. They have offices in Australia, the UK and Ireland, and despite the fact that they transfer money all over the world, they only accept customers from EEA countries or Australia. Their fees include a flat rate of three Euros, followed by whatever further transaction fees apply. The fees and their special P2P marketplace are explained later, suffice it to say that getting a clear view of how much you will receive back is tricky. Overall, CurrencyFair is an interesting and arguably, revolutionary money transfer / currency exchange platform. Let’s review the main features of this paymeny provider. Available countries The main issue I have with CurrencyFair is that’s it’s still a small player and not yet the global force that it should be. That is not to say that the company is poorly established, it is just that it has undertaken very conservative growth strategies that has left it behind other transfer and conversion companies. However, in defense of CurrencyFair, they have fewer complaints online than most other transfer companies do, so perhaps they are only expanding at a Read More …

British pounds exchange rate having not the best times

British Pounds looses value again

Yesterday was not the best day for British pound that was harmed by Bank of England Governor Mark Carney speech. It has been announced that The Bank of England revised the growth outlook that is forecasted to be worse than anticipated originally. With existing pound weakness and bad influence of “Super Thursday” that was just last drop for pound to go below 1.11 against Euro. As you probably heard UK economy has high chances of slowing down because of high inflation figures and uncertainty with Brexit. Markets are reacting accordingly and pound exchange rate against EUR and USD are hitting year’s minimums. The situation is just consequence of multiple things: Euro becomes stronger not only against pounds but also US dollar. With a lot of nose around Donald Trump and his possible cooperation with Putin weakens the dollar. European Union seems to get stabilizing and also there is high chance QE program will be tapered this autumn. UK and EU still can’t come to any agreement about Brexit that is likely the most influencing factor. The short term forecast for British pounds is still negative and I don’t expect the situation to improve over next months. If you hold funds Read More …