International Money Transfers | General financial discussion | Discussion forum

Please consider registering
guest

sp_LogInOut Log In sp_Registration Register

Register | Lost password?
sp_Search Search
Advanced Search
Advanced Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

sp_Search Search
Go to Bottom
No permission to create posts
sp_Feed Topic RSS sp_TopicIcon
International Money Transfers
November 16, 2020
11:13 am
Grizzers
Newbie
Members
Forum Posts: 1
Member Since:
November 16, 2020
sp_UserOfflineSmall Offline
Go to Top
1sp_Permalink sp_Print

Have just read your interesting Scotiabank v EQ article & notice you mention you do all your transfers via OFX.

Just to mention I've often found that XE (was HIFX) and Transferwise offer better rates:

https://www.xe.com/

https://transferwise.com/ca/

🙂

November 16, 2020
12:16 pm
Peter
Admin
Forum Posts: 1441
Member Since:
May 15, 2007
sp_UserOfflineSmall Offline
sp_UserWebsite
Go to Top
2sp_Permalink sp_Print

Thanks for your feedback! The rack rates at OFX are average. Depending on volume and frequency, you should be able to negotiate a substantially better rate.

November 19, 2020
11:27 am
fbeaulie
Member
Members
Forum Posts: 82
Member Since:
October 5, 2016
sp_UserOfflineSmall Offline
Go to Top
3sp_EditHistory sp_Permalink sp_Print

I've been using Revolut for a while (I was able to join early). I have transferred pesos to my father's Mexican bank account several times. I always got the rate you see if you google CAD to MXN and never paid any fee (if I recall correctly, the first $8,000 per month per month is free).

For example, I sent M$8,500 to him on August 4, 2020 and got charged $498.49 CAD (no transfer or exchange fee) = exchange rate 17.0517:

pesos.JPG

No permission to create posts
sp_Feed All RSS
Go to top

Please write your comments in the forum.