April 09, 2012

Mirror mirror on the wall, which is the cheapest money transfer in the world?

We were glad to see a report about the banks charging over-the-top for money transfer in yesterdays Frankfurter Allgemeine Sonntagszeitung (unfortunately this was in the print edition only).

 

We will let the following comparison table do the talking:

Its easy to see here how TransferWise gives the best value for money when sending your money overseas.

 

While Postbank has tried to be the cheap money transfer with a zero transaction fee they are hiding something… The exchange rate they give you is far worse (probably some 2-3% off the mid-market rate) than the real rate exchange that TransferWise uses.

 

This appeared in the second page of the money section (Geld & Mehr) in the Frankfurter Allgemeine Zeitung on 8th of April.

transferwise