Cheap Money transfer?
No, FREE Money transfer

Do you need a free money transfer from one country to another one? If you don't know this system, there are several other ways to do this and they are usually quite expensive.

Read here how you can finally save a lot of money on every international money transfer.

Money Transfer options

First let's see some of the different options to transfer money.

You can go to your local bank and do it through them and they will charge a fixed amount and a percentage on the amount of money you send.

I've done this several times, sending money to myself between two countries (UK and Italy) or to make some payments and I was really annoyed because of the high fees.

Otherwise, you can transfer money through one of the many operators, such as Western Union. They are very famous, however, from their website it's impossible to find their fees, you can see them only at the time you make a payment. This alone makes me suspect that the fees are very high. Also, as to currency exchange, they say that Western Union 'calculates its rate of exchange based on commercially available interbank rates plus a margin'. What margin? No way to know.

You can transfer money with many online services such as: PayPal, Moneybookers, Moneygram and similar ones. The advantage is that they transfer your money nearly immediately.

PayPal is the most established, best known, they will charge you between 2.9% and 3.9% + $0.30 USD. Also, payments requiring a currency conversion include a 2.5% fee. Also, if you send the money by using a debit or credit card they charge a further 3.4%.

Better than Cheap Money transfer?

FREE international money transfer

Eventually, after paying a good amount of money over time, looking for a cheap money transfer I discovered how to make FREE money transfers, I was so happy!!

You can use it to send money to anyone, make payments for goods you purchase or anything else.

I had been using the foreign exchange website www.xe.com every now and then to check some exchange rates, when I realized that they offer this service.

Here's how it works. It's not immediate but, if you are not in a terrible hurry to send money, it's the perfect way.

They make money from the difference in between their buy and sell price. This is the same thing that banks and other systems do, on top of that, they add a big commission.

It is as if you traded currency:

  • you choose an amount you want to trade (buy), let's say you want to exchange some Euros into 100 British pounds;
  • select how you will send the money to www.xe.com for the transaction
  • select delivery method to the recipient: draft and ACH/EFT (electronic funds transfer) are free for the following countries and currencies:AUD to Australia.CAD to Canada.EUR to France, Germany, Italy, Netherlands and Spain.GBP to The United Kingdom.NZD to New Zealand.USD to The United States or Canada.Wire transfer is faster but there is a fee (£12.50/€14 or other currency for any money transfer amount)
  • select or add the recipient's name
  • select or add the recipient's bank

They'll give you a quote that lasts 40 seconds, after which you have to request another quote. Click on Confirm Deal.

Click on the screen shot to view it larger.

Free money transfer

Then you'll receive an email from them telling you how to send them the money for the transfer. You should send them the money to a bank of theirs which is in the same country you are sending your money from, so you won't have to pay for the transfer. In doubt, ask them, the customer service is very efficient.

Once you've transferred the money to their account, you have to send them an email with the transaction details. They will convert the money and deposit it into the recipient's account within a couple of days. All together it may take 4-5 working days, but I've seen that most of times it takes only 3 working days.

Other limitations:
you cannot pay by bank cheque, cash, credit card, PayPal or similar transfer systems.

Simple, isn't it? So, why not try it and start saving money on your next transfer? Here is where to go for your free money transfer.

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