Transfermate

Brewster

Hi, as anyone used Transfermate (currency.ie) for transfering money to UK? Are they legit!?

Anyone know of any other competitive companies for transfering sterling to uk?

Thanks

Henry Ford III

Never heard of them so I'd be suspicious.

Any bank can execute a transfer.

Lex Luthor

never heard of them either....

Seth Brundle

Transfermate is a registered business name of Traveltowork Ltd, a company registered at 20 Eden Quay, Dublin 1, Ireland, number 368136. Traveltowork Ltd is regulated by the Irish Financial Services Regulatory Authority.

The whois for their site has the same address also but are registered to "European Student Services" (is that USIT?).

I can not see them listed on the IFSRA website!
http://www.ifsra.ie/frame_sub.asp?pg=%2Fregulated%5Ffirms%2Frf%5Fintr%2Easp&nv=%2Fregulated%5Ffirms%2Frf%5Fnav%2Easp

edit: its there but they are trading as "Travel to Work Limited" and not "Traveltowork Ltd"

Ferris

Brewster wrote: »

Hi, as anyone used Transfermate (currency.ie) for transfering money to UK? Are they legit!?

Anyone know of any other competitive companies for transfering sterling to uk?

Thanks

http://www.boards.ie/vbulletin/showthread.php?t=2055379207&highlight=currency.ie

Brewster

Seem legit then? Your always cautious when handing over money especially through bank transfers. They seem ok though.

cooper38

called ifsra the day i transferred, transfermate are regulated.

also saw them referred a lot on http://www.askaboutmoney.com/showthread.php?t=89811

Agri contractor

anyone know of any other companies that transfere money. Contacted transfere mate but they don't do forint.

si_guru

Why not use your bank?

Agri contractor

The bank will not fix a rate. Say if I phone the bank today for a rate it takes 3 days to send in the money the rate could be after going against me.

NordicDiver

I have used them twice, the last time i found out too late that if I had gone with the bank i would have been better off, so dont assume they are always cheaper.

cooper38

Best to call and compare with your bank. You can see the exchange rate the bank offer on your online banking. I doubt the bank would beat transfermate .

I've called the bank, been told one exchange rate but when you actually transfer it's never the same

spin777

Anyone used Transfermate lately? I am looking at transferring £20,000 to a supplier in NI and BOI/AIB rates are made. Are they safe with the level of money and are the rates usually better?

kdevitt

Not sure why this is in cars? Anyway - use currencyfair.ie - very reliable

spin777

kdevitt wrote: »

Not sure why this is in cars? Anyway - use currencyfair.ie - very reliable

Transfermate appear to be cheaper.

kdevitt

spin777 wrote: »

Transfermate appear to be cheaper.

Can't see any fees on their site, but they do say that the fee depends on the size of the transfer. Currencyfair just have a flat fee based on transferring the cash out - used them for the guts of 3 years when living in Sydney and no one came close.

They're also an Irish set up so would be happier supporting them either way.

delahuntv

I used them for about 4 years and for large 100k+ transfers. I use my bank now as I got a better rate via their dealer room - but then I buy currency regularly for business.

They don't have an additional fee but tye rate they offer will differ depending on how much you are transferring. At 20k stg you should get a rate about 0.5% off the market rate.

btw - just an opinion - I expect sterling to weaken back to about 80p in the next week to 10 days.

spin777

delahuntv wrote: »

I used them for about 4 years and for large 100k+ transfers. I use my bank now as I got a better rate via their dealer room - but then I buy currency regularly for business.

They don't have an additional fee but tye rate they offer will differ depending on how much you are transferring. At 20k stg you should get a rate about 0.5% off the market rate.

btw - just an opinion - I expect sterling to weaken back to about 80p in the next week to 10 days.

Thanks for the feedback. Sorry for my ignorance but what's the banks dealer room and why do you think sterling will weaken?

delahuntv

spin777 wrote: »

Thanks for the feedback. Sorry for my ignorance but what's the banks dealer room and why do you think sterling will weaken?

Dealer room is for larger amounts of currency on a regular basis - you'd probably need to be sending about 500k a year.

All the bad news for the euro is priced in and any good news (or bad news fir sterling) will see it swing back to near 80p. However on a 20k transfer its not a huge amount of money and I could very well be wrong.

delahuntv

I love when I'm right!

Eur/stg now .7991 and could go to about .8050 next week.