international money transfer
Hi Terry,
I need to send money annually to a family member who lives in Europe. I’ve heard banks fees and exchange rate are high compared to online companies such as Paypal, Wise.com or other. Where can I get the best exchange rate with low fees from a company that is safe and within the United States? Thanks for any insight you can provide.
Terry Says
That’s a bit out of my territory, so Idid a search using Perplexity AI.
It recommends Wise for most European bank transfers, and Remitly for Latin America. And of course, Western Union or MoneyGram still exist.
The key thing is not the fees, which most people compare, but the EXCHANGE RATE promise. That’s where the institutions make their money! Wise and Remmitly charge around 1% in fees, a lot less than Western Union.
