Nowadays sending money from one country to another is not a big task. What is crucial is to find the right service provider. In this article, I will take you through some features of few money transfer services through which you can send money from the U.K to Poland. Based on this you can choose the right option suiting your need. In this article, we will be discussing various aspects of three popular money transfer services that can be used to send money to Poland from U.K. The three services are: TransferWise, EasySend, and CurrencyFair. Here we will be going through their important features and various other services provided to the customers.
Tranferwise is one of the leading service providers for sending money online and is probably the most trusted one. It is known for its fast, secure and transparent money transfer services across the world. It offers true mid-market exchange rates to its customers which very a few companies can offer. The money is received within 1-3 working days. The customer experience for TransferWise is also very good which is quite evident in its online reviews. The transfer fee varies from one currency to another. For transferring 1000 GBP you will be charged 6.27 GBP and rest 993.73 GBP is converted into Polish Zlotys on the mid-market exchange rate. It has a feature called Guaranteed Rate that can fix the exchange rate for you for next 24 hours, so you don’t have to face the fluctuations in exchange rates. The process of sign up and money transfer is online, so it’s not a big hassle for anyone to open an account or to perform a transaction.
EasySend operates in few countries only but a majority of its transfers are between Poland and U.K. It charges £2 and £5 for its Fast and Superfast services respectively. In Fast services, the money is transferred within 24 hours and in Superfast services, the transfer is done within 10 minutes. There are no transfer fees for the first transfer and after that on every 10th transaction. It will transfer your money within 24 hours and in few minutes if you opt for superfast services. However, the exchange rate of EasySend is a little below than the mid-market rate but still better than many other companies. Started in 2006, EasySend has sent millions of pounds across countries.
It has an exclusive peer-to-peer currency exchange system, where you have an option to get your desired exchange rate which may be better that mid-market rate. In CurrencyFair instead of exchanging money with the service provider, you can exchange it directly with another customer if he accepts the proposed exchange rate. In fact, almost 10% of its customers actually get better rates than mid-market rate. Along with this they also offer good exchange rates very close to mid-market rates. The transfer fee also varies from one currency to another which is anywhere between 0.2% to 0.6%. The services of CurrencyFair are fast and reliable and with its growing customer base, it is one of the best service providers available on the market today.
Now let’s do a comparison of the three companies we discussed here. For sending 1000 GBP one needs to pay more transfer fee in TransferWise as compared to the rest two. But due to the better exchange rate, the received amount is more than the rest two. Although CurrencyFair is very close to TransferWise in terms of final amount, there is also a possibility of peer-to-peer exchange in which you can get better output.
|Service||Amount to be sent||Transfer Fee||Exchange Rate||Received Amount|
|TransferWise||1000 GBP||6.27 GBP||4.81477||4,784.58 PLN|
|Easysend||1000 GBP||2 GBP||4.7465||4737 PLN|
|CurrencyFair||1000 GBP||2.08 GBP||4.7925||4782.00 PLN|
Even though we mostly concentrate on the final received amount while transferring money to other countries, we should also focus on the reliability of the company and ease in the transaction along with the time taken in the process. By considering all of the above factors you can make a fair decision on the suitable service provider you wish to select to send money to Poland.