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Sending money abroad

(11 Posts)
MairyHoles Tue 31-May-16 11:34:51

I send money to an Australian account fairly regularly, usually through my bank. My younger brother is over there on a "working" holiday. It costs me just over £30 in fees, no matter the amount sent.

I see with Western Union I can send money to an account for about £7, is this the best way to do it, or is there anything I'm missing? Or is there a cheaper/ safer option?

I have used WU before so he picks up cash at a pick up point but it's easier for us both if it goes direct to the bank account, since he can only access emails or messages when he manages to get to a computer.

I would appreciate any advice about the best way to send money, I think my bank are ripping me off!

dizzytomato Tue 31-May-16 11:50:52

Why does he need an Australian account? Can you transfer money to his English account and he can pay the fee to withdraw the money in Australia. I use my English bank account when people in the UK want me to get them things (usually havaianas and hair treatments) I just ask them to put the money into my Halifax and I withdraw it and buy what they want before I go to the UK. Halifax know I am abroad and they don't charge a crazy amount for me to withdraw money from the local bank here.

Pollyputhtekettleon Tue 31-May-16 11:53:51

I use TORFX. It's fantastic. I use it for Eur to GBP and GBP to Yen. Basically they hold money on account for you (unsecured! But they have as good a rep as anyone and you don't have to leave money with them at all) I get them to flip currency when the rate is good either automatically or over the phone. I can forward on the money using online account service to destination account in correct currency in 1min flat anytime I want. All free.

BreakingDad77 Tue 31-May-16 12:16:31

Can you send via paypal?

Drinksforeveryone Tue 31-May-16 12:18:58

I had a travelex currency card in US dollars.

When I needed to send some cash over to the USA to family i topped up my account. There were two cards with the account - so I had previously posted one card over to them.

They could then use it at an ATM or withdraw from a bank branch over the counter.

Might not be the cheapest/or simplest way to do it - but I was pissed off at having to pay such large fees via the bank transfer.

MairyHoles Tue 31-May-16 12:32:24

Thanks for that, I'll look at that company.

I was transferring money to his UK account but it was taking a couple days to show at his end, even at cash machines over there, so he ended up overdrawn (the withdrawals weren't showing immediately either) and couldn't get out of it. He also didn't let his bank know he was going over there so they were charging him quite a bit. I paid off the charges and I think he cut up the UK card. In hindsight this was foolish since he doesn't actually have an Australian account and I'm sending money to his best friend's account instead.

My brother is an idiot and left the UK on a whim with a toothbrush and clean pants. He never even took a bag! He and his friend had visas and were planning going out several months later, my brother got drunk and booked next day flights, left without saying bye to anyone (except me, since he needed a lift to the airport). He squandered all the money he had quite rapidly, but has been trying to work more recently.

His friend is now out there and met up with him, so I'm sending the money via him since he set up the Australian account before he left (and he can keep any money my brother owes him before passing the cash to my brother).

This gravy train will be stopping very soon!

IceMaiden73 Tue 31-May-16 14:03:10

Have a look at Transferwise

Iwasbornin1993 Tue 31-May-16 14:24:47

I was just going to suggest TransferWise, we've used it before and it's cost a lot less than bank charges.

Cheesecake53 Tue 31-May-16 14:31:24

I also use transferwise often and am very happy with them.

MairyHoles Tue 31-May-16 15:44:58

Thanks everyone, I used transferwise, it looked simplest to use and only cost a couple pounds to transfer money. Apparently it will hit his account quicker too, wish I had done it this way since July!

simplydivine05 Wed 01-Jun-16 16:30:14

I would also look at PayPal. The only fee is for the currency conversion although if you have a card you can use for foreign currency without conversion fees you could send it for free.

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