What's a good alternative for Transferwise?
- Thread starter bobbintb
- Start date
HoNeYBiRD
Elite Member
- May 1, 2009
- 10,187
- 12,580
You can try the Payoneer Global Payment Service in GBP. Create a Payoneer account, if you don't already have one and apply for their Global Payment Service in GBP. Supposedly the receiving in GBP is free of charge, they only charge for receiving in USD (1%): https://payoneer.custhelp.com/app/a...s-associated-with-the-global-payment-service?
Do you know if they accept wire transfers? If so, how does that work? I need to be able to wire it to my name and some services have you wire it them with a memo containing some code so they know who it goes to. Do you know if the bank is located in the UK? These are the kinds of things I usually can't find out until I have used the service and sometimes it takes days to get an account. I already started the process with Payoneer though.
jazzc
Elite Member
- Jan 27, 2009
- 2,964
- 14,717
Yes, I looked at that and it's not available for US. Even if it were, I need an account outside US. Looks like Payoneer doesn't do wire transfers.
kasher9
Senior Member
- May 12, 2009
- 1,015
- 1,693
Does your own bank not allow multi-currency accounts? If you have a business account with chase for ex, I believe they should open a GBP acc for you
They do but the service I am using does not allow withdraw to US bank accounts. I also looked at Skrill. It looked promising at first but the wire transfer needs to have my name as the beneficiary and Skrill doesn't allow that. It can be a bank as well, as long as it is not in the US, can use GBP, and can accept wire transfers in my name. I also looked at offshore-specialists.com but that looks super sketchy.
kasher9
Senior Member
- May 12, 2009
- 1,015
- 1,693
What the fuck have you gotten yourself involved in...
Right a wire transfer is simply a bank transfer with SWIFT, are you based in US?
I am based in the US. I am trying to withdraw my money from this service because I get a better rate in GBP than in EUR. The service is based in the UK I believe but allows US resident customers but not withdrawal of funds to US bank accounts. I have been using Transferwise for EUR for this purpose up until now but I am trying to see if I can find a way to use GBP. It's very picky. I can use debit cards and such but the fees to withdraw are higher so I am sticking with a bank transfer and the only kind they support is a wire transfer and the beneficiary names have to match.