Save money on sending or receiving money internationally (USA, UK, Europe, Japan and more).
I think almost everybody will nowadays have a Paypal account (if you don’t have one I still recommend that you get one as it opens so many side income possibilities that otherwise either remain closed or take longer to get paid for, and in some cases it can cost more money to get paid outside of Paypal.)
But moving on from Paypal for now I wonder who here reading this has opened a Transferwise, borderless account? Transferwise is a really great alternative to Paypal, depending of course what you use Paypal for. The company started in the UK, founded by two friends who wanted to create a cheaper way to send money back to Eastern Europe. At first I was quite sceptical if it is safe and spent hours googling the company and verifying that I wouldn’t be falling for an expensive hoax or scam.
The first time that I saw how much using Transferwise can save somebody was when my Spanish friend was about to return to Spain. She was in the process of closing her UK bank account and had just started a standard bank transfer between her two accounts. She must not have paid close attention to the fees before going ahead with the bank transfer and as she hit send she realised just how much money she lost in the transaction. Luckily she was able to cancel the process and reverse the charges. Next she tried Transferwise and it saved her hundreds.
I since compared Transferwise rates with the cost of sending and receiving money via Paypal and as much as I am a longtime lover of Paypal for convenience, Transferwise wins hands down and saves significant money compared to any other service that I know of.
I am currently waiting to interview for a job with an Advertising company in Vienna, Austria and if I end up taking the job I will request payments through Transferwise. An additional appeal of Transferwise is that I can just hold my money in the account in the currency of origin without exchanging it for the currency of where I currently am (in my case that is America) and instead I am planning on leaving the money sitting in my Transferwise borderless account until I visit my friends and family in Germany when I’ll draw the money at a cash machine using my Transferwise debit card.
Even if I won’t draw the money out of the account in person I can choose to not exchange the Euro until I see a favourable exchange rate. I haven’t checked but I am quite sure with Coronavirus the rates are fluctuating a lot, having this borderless account will allow me to bide my time and wait for a good moment to exchange and transfer to my account in the USA or my account in the UK.
I still live between both countries but that is a story for another time.
If you think you might like to explore Transferwise’s borderless account or just use it to send money from one country to another then please use my link. I sincerely recommend them and personally have found the team at Transferwise responsive and helpful when I first opened my borderless account.
By using my link you will get your first money transfer fee free (up to £500, it may be a different number in USD, EURO, Japanese Yen etc.) I will receive a small financial perk ONLY after you have used your account to transfer and save money. The perk that I will receive comes at NO cost to you in any way but will aid me in living my life and writing future helpful recommendations.
I only recommend services and companies whom I genuinely feel strongly that they serve a positive purpose or function and if in doing so I can benefit by gaining a commission then I think that is a wonderful bonus and reward for taking the time to tell you what helped me in no small measure.
Do you have any questions?
Please use my link to sign up, ideally right away and when you first use Transferwise to send / receive money please get back to me and let me know how much it saved you. I would love to hear.