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Alternative FX and money transfer service? Fed up with Revolut

Alternative FX and money transfer service? Fed up with Revolut

Old Feb 18, 17, 2:39 am
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Alternative FX and money transfer service? Fed up with Revolut

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).
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Old Feb 18, 17, 2:45 am
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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.
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Old Feb 18, 17, 3:52 am
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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
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Old Feb 18, 17, 5:45 am
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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
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Old Feb 19, 17, 9:55 am
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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
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Old Feb 19, 17, 10:27 am
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Good advice on various forex services on Money Saving Expert.com
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Old Feb 19, 17, 11:25 am
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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.
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Old Feb 19, 17, 12:34 pm
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Transferwise have always been fine for me.
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Old Feb 21, 17, 8:23 am
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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.
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Old Feb 22, 17, 5:55 am
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Tried Transferwise,, but absolutely useless for my purposes. I need to send USD to Singapore but they can't do it.
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Old Feb 23, 17, 5:24 am
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I use AFEX for USD to GBP/EUR. Very reliable and decent rates.
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Old Mar 23, 17, 9:28 am
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Originally Posted by LondonElite View Post
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.
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.
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Old Mar 24, 17, 1:52 am
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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.
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Old Mar 24, 17, 7:47 am
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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/
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Old Apr 23, 17, 7:58 am
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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.
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