Transferring Foreign Money

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Old Mate
Posts: 11
Joined: Fri Dec 09, 2016 11:19 pm

Transferring Foreign Money

Post by Old Mate » Sat Dec 17, 2016 1:35 am

Hello,

What is the best way to transfer money from a non-EU country, to a Finnish bank account?
I would prefer to avoid using an online bank transfer as their exchange rates are quite horrible.

I have seen people suggest using PayPal, but I am worried the money will get "locked" in the process. This has happened to me before when someone from another country bought something from me on eBay - PayPal put the funds on hold and released them after 21 days. No harm no foul as it was a small amount, but I wouldn't like it to happen to a significant sum of money.

The other suggestion I have seen is using a company called "World First Foreign Exchange" - does anyone have any experience with using their services?
Or are there any other methods of transferring money while avoiding excessive fees?

Thanks!



Transferring Foreign Money

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inkku
Posts: 620
Joined: Wed Apr 04, 2007 8:26 pm

Re: Transferring Foreign Money

Post by inkku » Sat Dec 17, 2016 10:44 am

Transferwise


Old Mate
Posts: 11
Joined: Fri Dec 09, 2016 11:19 pm

Re: Transferring Foreign Money

Post by Old Mate » Sun Dec 18, 2016 1:26 am

inkku wrote:Transferwise
Have you had personal experience with using them?

I can't decide between Transferwise and World First... :?


inkku
Posts: 620
Joined: Wed Apr 04, 2007 8:26 pm

Re: Transferring Foreign Money

Post by inkku » Sun Dec 18, 2016 8:10 am

Yes, I have used Transferwise I also looked for their reviews on various fora.


betelgeuse
Posts: 2749
Joined: Thu Aug 29, 2013 1:24 am

Re: Transferring Foreign Money

Post by betelgeuse » Sun Dec 18, 2016 12:50 pm

inkku wrote:Yes, I have used Transferwise I also looked for their reviews on various fora.
I have had good experiences with their competitor CurrencyFair. In the end it comes down to who gives the best rate of the day.


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