LondonElite

I've been using Revolut for about 18 months now and getting fed up with the service. I use it mainly to transfer money between various GBP/EUR/USD accounts I hold in different countries because the FX rates are much better than those offered by the bank. For example, a typical EUR/GBP exchange of €10,000 typically saves me at least £200.

For those that are not familiar with the service, it's app-based and you can load up your GBP/EUR/USD 'accounts' held with Revolut either by debit card top up or by direct transfer. Within the app you can then exchange between currencies and then send money to another bank account. Transfers each take a few days.

For the last five or six months I've had to chase up every single transfer. The typical procedure now is that I contact support through the app, have a long-winded conversation with someone (usually Russian) in which no new information is provided from my side, and which ends with 'please look harder for the money I wired you last week...oh yes, I see it, I will update your account now, is there anything else I can help you with?'

They have recently moved their business from Barclays to Lloyds (no idea why), but it was pretty poor service even before. I've looked at Caxton FX but that doesn't seem to accept SEPA transfer (maybe I'm wrong). Can anyone suggest an alternative please?

(Maybe this ought to be posted elsewhere but thought the UK forum was as good a place as any to start).

Swiss Tony

I've only made a handful of low value transactions with them, but Transferwise have been incredibly efficient. Charges for GBP->EUR are 0.49%, £2 minimum. The rate you are offered can be better than spot and once quoted it's guaranteed for 24hrs so no risk of slippage.

It sounds like the process is fundamentally different to Revolut- receiving banks have had the money within an hour, but Transferwise won't hold funds on your behalf.

If you're interested please do drop me a PM as I think there's a referral code I can send you.

Liams

Xendpay.com for money reansfers account to account

LeuPay.eu USD /GBP/EURO with ibans and linked atm card (fees apply for withdrawals)

Centrip revelout alternative couple of extra fees compared to rev but support better

Paywithfire.com GBP/EUR Iban And direct debits now with mastercard

Liams

Xendpay.com for money transfers account to account

LeuPay.eu USD /GBP/EURO with ibans and linked atm card (fees apply for withdrawals)

Centtrip revolut alternative couple of extra fees compared to rev but support better

Paywithfire.com GBP/EUR Iban And direct debits now with mastercard

Gagravarr

If you're just doing bank-to-bank, it depends a bit on how much you're sending. There are some providers who charge a fixed fee to wire the converted money on, others who do it "for free" but generally have a worse FX rate to make their money that way. If you're sending decent amounts of money, the former is better. For little bits, the latter wins

In the former camp, I find CurrencyFair to be pretty good

farci

Good advice on various forex services on Money Saving Expert.com

lhrsfo

I use Revolut and love it for what it's really about, which is small transactions rather than commercial ones. It doesn't really do large bank transfers.

Silver Fox

Transferwise have always been fine for me.

LondonElite

Thanks for the feedback all. I found that I signed up for Transferwise some time ago but never used it. Seems like this is better suited to my needs and with better fx rates. Tried a transfer this morning and we'll see how that goes.

lhrsfo

Tried Transferwise,, but absolutely useless for my purposes. I need to send USD to Singapore but they can't do it.

VivoPerLei

I use AFEX for USD to GBP/EUR. Very reliable and decent rates.

Swiss Tony

Did it work OK?

I did a transfer to a hotel in Austria on Tuesday. Am told it hit their account within 20 minutes. EUR1000 cost me £4.33 in commission and I was given a rate of 1.1540, which was a shade higher than xe.com was reporting at the time.

LondonElite

Yep, worked very well. Much more suited to my needs than Revolut. Website could be a bit more user friendly, but maybe I'm just a bit peculiar. Thanks for the heads-up.

dddc

Just seen Asda advertising their service. Didn't even know they had a money section! No idea of rates or fees, but wonder if they are trading on their name:

https://money.asda.com/money-transfer/

ANstar

Ive been using transferwise for a few years as well - found it reasonably quick and the one time I did have an issue (my error) they were very quick to rectify.