TransferWise Charging 3%-4% Now

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papageno
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Location: Colorado & Puerto Varas

Re: TransferWise Charging 3%-4% Now

Post by papageno » Fri Aug 28, 2020 7:34 pm

tiagoabner wrote:
Tue Aug 25, 2020 10:46 pm
paladin wrote:
Tue Aug 25, 2020 9:14 pm
I dont know who you bank with outside, but I transfer US$ from HSBC to a US$ account I have with BCI and they charge US$75 if I remember correctly. Then no charges when the funds are received in Chile. Then I can change US$ to CLP whenever I want in BCI. Maybe I’m over-cautious, but have been around for a long time and seen many “well known reliable” outfits disappearing, so have never used a money transfer service.
I still don't have permanent residency, so no "real boy" bank accounts for me until then. I'll review my options after that.
Likewise. I just paid my September rent, and the Transferwise fee was just over 4%. Now approaching the cost of a wire transfer from the U.S., but still a better exchange rate than my bank.

Britkid
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Location: Talagante area, Chile
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Re: TransferWise Charging 3%-4% Now

Post by Britkid » Tue Sep 01, 2020 4:07 pm

This is what Banco de Chile said about the fees for sending US$:

la comisión cobrada para recibir dólares desde el extranjero es 1 % + IVA, con un mínimo de 15 dólares.-
la cuenta corriente de moneda nacional recibirá el dinero según el tipo de cambio del día de la transacción

scandinavian
Rank: Chile Forum Citizen
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Re: TransferWise Charging 3%-4% Now

Post by scandinavian » Tue Sep 01, 2020 5:55 pm

Yes, but sender can accept costs at both ends.

paladin
Rank: Chile Forum Citizen
Posts: 527
Joined: Tue Dec 28, 2010 3:32 pm

Re: TransferWise Charging 3%-4% Now

Post by paladin » Tue Sep 01, 2020 9:14 pm

Britkid wrote:
Tue Sep 01, 2020 4:07 pm
This is what Banco de Chile said about the fees for sending US$:

la comisión cobrada para recibir dólares desde el extranjero es 1 % + IVA, con un mínimo de 15 dólares.-
la cuenta corriente de moneda nacional recibirá el dinero según el tipo de cambio del día de la transacción
That’s why I dont send via Bco de Chile, but BCI instead, and directly into my US$ acct.

Ripsigg
Rank: Chile Forum Citizen
Posts: 757
Joined: Thu Sep 10, 2009 9:55 pm

Re: TransferWise Charging 3%-4% Now

Post by Ripsigg » Wed Sep 02, 2020 12:09 am

Britkid wrote:
Mon Aug 17, 2020 10:21 pm
TransferWise today are charging me 3%-4% for sending from abroad to CLP account (2%-3% a few months ago).
I wonder if this is at all related to a drop in travel and other international business. With less demand for currency exchange, it might be harder for them to exchange outside of the traditional banking system.

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