Money Transfer Explained

[@CreativeNomadTV]

FYI, CurrencyFair has boosted their bonus to 45€ (about 60$ AUD/CAD) last week. All you have to do is sign up with a referral link and transfer at least 1000€ (or equivalent) before May 4th to get the bonus. Ref link: www.currencyfair.com/?channel=RGN3H1

[@CreativeNomadTV]

The promotion is over but there is still a 30€ bonus if you transfer at least 1000€ or equivalent when setting up your account using this referral code: www.currencyfair.com/?channel=RGN3H1

[@frankom2862]

what about usd to usd? do the bank take a spread on that?

[@quantumchang4410]

So just for clarification, do you mean you do a "local wire transfer" to them from your bank and then they do the international wire transfer on your behalf to the overseas bank account of your choice? Is that correct?

[@tbbtforever]

@@quantumchang4410 hey gimme some ideas on this

[@Vegimite007]

Clear as a whistle!! Great presentation, just what I needed. Thanks!!

[@CreativeNomadTV]

Glad I could help Nathan!

[@EricSchaechter]

Thanks for that - very useful XB! You gotta love it when somebody else does your homework. Where in the world are you right now? When will we meet in person again?

[@gerardmelvin8670]

Thanks buddy great explanation and good tips.

[@CreativeNomadTV]

You're welcome Gerard!

[@vasanthpragash854]

Was expecting a video with a full explanation of how Nostro ,Vostro accounts work and how money moved between different account books. Can you link me to a video that explains how the raw stuff works?

[@girishp4762]

Well, what you explained is money transfer methods, can you explain the process? Escrow account, remittance all that behind scenes.. thx

[@Baghdadi99]

That’s what I was lookin for on KZbin and I stumbled on this video.. we this need this

[@breekettley4264]

THIS AWESOME!!! Nice one Xavier! AND THANKYOU!

[@CreativeNomadTV]

Bree Kettley Thanks Bree!

[@KayKay-kx9pj]

Make a video on how to add the name of the country which is not on the list when applying for rate alert notification.Thank you

[@flossydadsgirl5767]

Monthly Transfers - do you have any suggestions on any other methods so I can keep the costs down? What about an multi-currency account? Your video was VERY helpful. Thank you.

[@majestic-skies]

Great video! I was shocked to see how much my Canadian bank was ripping me off on the current exchange rate with their "spread"

[@CreativeNomadTV]

Yup! I was shocked too when I first did the math! Only a few cents difference in the exchange rate makes a big difference!

[@MARTINLOUISR]

You saved my Money bro. thank you alot!

[@reyboy2447]

😊😊😊

[@udnwaogbo5499]

This is a very clear picture and a good advise thanks

[@anthonyze]

Bro if you kept going then you would have hit 100k in a year for sure

[@katyveronicag]

This was very helpful. Thank you so much!

[@CreativeNomadTV]

Thanks Katy!

[@youhansmiir9707]

Where are u from?

[@Stephy2387]

Hey thanks for the video! Can you do a video for receiving a wire transfer from an overseas company? I’m a little new to this and trying to wrap my head around it but really liked your video :)

[@CreativeNomadTV]

If the overseas company is in US/UK/Eurozone/Australia, the easiest way is to open a Borderless Account with Transferwise and give the company your virtual bank details for the transfer.

[@bestarm]

I now understand why Ripple is so important. Omg

[@dextera1855]

Very helpful bro, direct and clear explanation, thanks!

[@CreativeNomadTV]

Thanks Don!

[@elliotbradley6957]

Thanks! Really helpful explanation.

[@CubaSteve]

Excellent advice , high quality viewing .

[@CreativeNomadTV]

Thank you Steven!

[@annasangajeon4591]

thank you so much for explaining the easy way.

[@CreativeNomadTV]

Glad it was helpful!

[@yanyan7333]

Hi and good day. Thank you for your video. I was wondering where is your referral link for XE if there's any? I can't see it in your description box.

[@CreativeNomadTV]

Sorry I dont have referral links to XE.

[@licensedblockhead]

Bitcoin does all of this way quicker and simpler. did i mention it costs like 1 dollar unrelated to the transaction amount

[@CreativeNomadTV]

Bitcoin exchanges have spreads similar to money transfer services. Last time I checked the spreads were similar or more expensive than Transferwise or other good xfer services. Crypto to crypto is cheap... But fiat to crypto to fiat (for example USD to BTC to GBP) isnt always a better deal.

[@abdulwajid9102]

It's 2021. I use BCH and XRP for international money transfer

[@sschiavo8190]

Thank you. Small feedback - it is still unclear what spread definition is.

[@CreativeNomadTV]

Hi! The 'spread' is the difference between the exchange rate you get at your transaction and the mid market rate (the rate you see on Google for example). If your transaction rate is close to the mid-market rate, the spread is small (you have a good deal). If the transaction rate is far from the mid market rate, the spread is large (you have a 'bad' or more expensive deal). Think of the spread like the profit margin for whoever is exchanging money for you. Hope this helps!

[@marceling07]

i like the idea, but do theses international money transfer companies have convenient with western union, Moneygram, or uni transfer from Unibank in Haiti

[@karlaemelgar]

Wow!!! Thank you for this explanation!!! Soooo useful!!!

[@UlrichKoepf]

I am terrified giving my bank info to anyone online, is that really safe?? BTW thanks for your video..really well done and helpful

[@CreativeNomadTV]

I understand your reluctance, however the information required for a bank transfer is usually the same as the information that appears on a paper cheque... so if you use (or have used) them, it's about the same amount of risk (quite low).

[@wanwannabe5855]

Thank you so much for this video. Very useful and I love it

[@CreativeNomadTV]

Thanks!

[@syedansari6084]

Hi Thank a lot. can you tell that Financial institute or Bank still they using Swift payment for cross border? If yes Why can they transfer using Tranferwise instead of using swift? Please clarify my doubt?

[@sheetaljoshi4422]

great video! Keep making more!

[@thegoodraj]

Great video man - thanks!

[@sarac9752]

Insanely helpful

[@CreativeNomadTV]

Thanks Sara!

[@Convict1]

I need to pay my manufacturer for my track suits and I have 4,000$ here at my house so just go to my bank and deposit the 4,000$ then make a account and can transfer it directly from my phone or computer?

[@CreativeNomadTV]

Yes that's the idea. Be aware that setting up your transferwise account for the first time can take a few days. You will need to provide proof of ID and proof of address.

[@aion2177]

Or just use crypto. Some alt-coins take 1 second to make the transfer. Takes some knowledge of exchanges and wallets but is way cheaper.

[@CreativeNomadTV]

Crypto to crypto is very fast, of course. However, Fiat to crypto to fiat (for example USD to GBP via Bitcoin) is not that fast because you have to deal with exchanges on both ends of the transaction. Also, exchanges often charge spreads much higher than Transferwise (or other money transfer services) to convert 'regular' money to crypto.

[@Zee-yr7gz]

Hey great video. I realized that you never included the ATM fees plus the Spread of the Transfer apps. Wouldn’t you need to Include 8$ to the lowest Fee which would be $27+$8 which would equal $35?

[@CreativeNomadTV]

Money transfer services when used as explained in the video do not use bank cards or ATMs. They send money to the recipient's bank account via bank transfer.

[@Zee-yr7gz]

CreativeNomad TV Yes, I understand that part. You said in the beginning of the Video when you use your Foreign card in a Different country and withdrawal $500, the Bank fee will be 4 and atm fee of $4 which would be 8$ plus the 6% Spread which equaled $38 . You included the atm and bank fee. Now what I’m asking is if You want to withdraw the money out of your atm card after using The money transfer app with the lowest fee, wouldn’t you get a $27 fee at a .56% rate 0% spread for using the app plus $8 withdrawal fee per $500 from your bank correct? So all together you’d be using 5000-107 since it’s 8x10+27. I could be confusing my self here. Let me know.

[@CreativeNomadTV]

Ah ok I understand your question now... In my example, instead of using my Australian bank card in a Canadian ATM (with expensive fees), I would use Transferwise (or similar) to transfer money from my Australian bank account to my Canadian bank account... then I would use my *Canadian* card in an ATM from my Canadian bank for free (or much much lower fees than using a card from a foreign bank).

[@Zee-yr7gz]

CreativeNomad TV Oh I understand now. I thought of it as Being from 1 country and someone sends you money over seas like being a Canadian in Australia with your Canadian Card. You’d have no choice but to withdraw the Cash. I get your point though.

[@svcyclops]

No discussion about the risk the transfer institution goes bankrupt during the time it has your cash but before delivering in the other country?

[@CreativeNomadTV]

If you are uneasy about having a large sum in transit, I suggest breaking down large transfers in multiple smaller ones. That way your risk is lower and you 'even out' spikes in the exchange rate if you do it over a few days.

[@itsmeijjah]

can i ask the question? if my friend transferred the money from overseas to my country which is Malaysia, i should pay the charges for the currency exchange or my friend? i get really confused right now because he was the one that transferred the money so he should be the one that being charged not me.

[@drprashanthmds]

very informative video. kindly explain about bitcoins and cryptocurrrency

[@DontTakeCrack]

as with all benefits, what's the catch?

[@CreativeNomadTV]

No catch. Transferwise (and others) have figured out that they can make cheap money transfers by matching transfers that go in opposite directions that way money doesnt really need to be converted behind the scenes. Most banks arent interested in setting up a global network of bank accounts required to do this. Foreign exchange is a tiny tiny market for them.

[@robertogalvez3865]

I believe the fee of 0.7% for TransferWise needs to be updated. If you try to send US$5,000 today - July 28th, 2017 - from the US to Germany, the fee would be US$49.50 and you would receive 4,212.13 euros.

[@CreativeNomadTV]

Hi Roberto, the 0.7% figure is still accurate for AUD->CAD transfers, however Transferwise has different fees depending which currency pairs/countries you are using for your particular transfer. For USD -> EUR transfers, between 301 - 5000$, Transferwise charges 1% (so approx 50$ for 5000$). Any amount over the initial 5000$ is charged 0.7%. See this link for all the details: transferwise.com/help/article/1923639/us-dollar-transfers/pricing-for-transfers-from-usd

[@CreativeNomadTV]

And remember that if you use this referral link -- transferwise.com/u/4cbd8a -- fees will be waived for your first transfer up to 500£ (650US$ approx).

[@bilalshakeel7983]

As u mentioned they have account around the world how thwy opened that account

[@12vLife]

What about same bank transfers? What's the fastest way to transfer $6k (much more than the Zelle limit) from one persons Wells Fargo Account to another person's Wells Fargo account? Something that can be quickly verified and can't be reversed or stopped.

[@balloonskenya6627]

I want to start money transfer services in my country in Africa. where or who can develop or sell this software.

[@arnold7726]

Woww thanks such a easy video

[@CreativeNomadTV]

Happy to help!

[@akshatmannan]

Two questions 1) If you transfer from your account to one of the threes 'international' bank account as shown in the video doesn't that trf get hit with the exchange rate? Your bank will charge you their arbitrage on the mid rate or whatever for doing so. Am I missing something here? 2) TW claims not to move money across countries by finding people in that local market to the transfer in the other direction but that would only work if one assume transfers from country x to y and vice versa are roughly similar in quantum which may never be the case. Ultimately at some point they are absorbing the spread, arent they?

[@CreativeNomadTV]

1) The banks at both ends of the transaction only sees local transfers, so there are no currency exchange fees / international transfer fees from the sending and receiving banks. 2) Over long periods of time I'm sure transfers on popular routes average out. I assume that is why some routes are not available because they would be too 'lopsided'?

[@markwoldin162]

Thank you very much.

[@Laotzu.Goldbug]

I understand the concept of the "spread", but not the reason for it - what exactly is it? Is there some purpose that it serves; I struggle to see that since the bank is already charging you a fee, either on the transfer or if you use your ATM card. So is it just _more_ pure profit for them?

[@CreativeNomadTV]

The spread is simply a hidden fee so that the bank can advertise cheap/no fees. Since the exchange rate changes all the time, they know most people wont compare the rates between money transfer providers.

[@Laotzu.Goldbug]

@@CreativeNomadTV interesting, that's basically what I thought Ivan it's kind of just a cheap trick to squeeze a couple extra percentage points out of you, with the hope that you really won't notice.

[@dumitrascuclaudiu7097]

Awesome explination!)): Grăit job explain IT... Thank's Subs.

[@CreativeNomadTV]

Thank you!

[@kailahblanco943]

Is it elligal if I wire it to a bank account that belongs to a family member in the usa n have them western union the money to me?

[@pointlee]

but the question is , which has best exchange rate?

[@aminudineyussufan-namurawy7787]

Tops explanation

[@pappistvanne515]

Very clear, thank you.

[@CreativeNomadTV]

Thanks for watching!

[@zennybarbosa3638]

Amazing Video, thank you!

[@CreativeNomadTV]

Thanks!

[@EdwardGador]

Well said. Thank you!

[@CreativeNomadTV]

Thanks Edward!

[@Rich7714]

Thanks for the great explanation mate, but how many of these websites allow for NTD (Taiwan) currency?! The answer is "0".

[@Rich7714]

OK, well thanks for checking for me anyway mate. Just getting a bit frustrated with none of these websites working very well. Western Union is awful, with lots of emails asking for proof of ID, which I give them, & they still don't accept, & Xendpay is apparently a scam site because many days after seeing a "Successful Transfer" page upon completion, they still haven't delivered any money. Urgh... oh well, keep on trying, I suppose. Cheers Neptunecrypto

[@bilalshakeel7983]

Pls explained how to open this business

[@unusualnaj]

Someone should tell me how x logistics company works

[@dealanjoboncales2159]

Hello sir? can you help me? i have a question

[@CreativeNomadTV]

Maybe! What's the question?

[@loopernz]

Thanks for the video, what if you want to move to USA an want to move $500000 Will there be another income tax in USA?

[@sipanhamo322]

How to take the money after it is transferred if I transfer it to myself for example?

[@CreativeNomadTV]

You need a bank account at destination or you can use the Transferwise debit card if you live in a supported country (UK, Europe, USA, Aus, NZ, Singapore)

[@robwindybank9055]

Very good video that I watched before doing this. I would also recommend fcexchange for uk users. Thank you

[@CreativeNomadTV]

Thanks Rob!

[@asifazmi3003]

Who have to pay for the fees? The sender or the receiver? Pls help me

[@CreativeNomadTV]

Usually the sender. Fees get deducted from the amount you send. However, if someone sends you money via a Borderless Account, then fees get deducted when you transfer the funds out of your Borderless Account.

[@asifazmi3003]

@@CreativeNomadTV okay thank you!

[@CongNguyen73]

Thank you sharing

[@korayturkson9674]

Misleading Title... it should read Alternate money transfer methods.. not Money transfer explained.. as this video does not explain anything about the actual process of the transfer.. but good video anyway..

[@jessy.clifton]

2 questions. 1. Can i get any currency spending card from currency fair? Im Australian but have 10k in canadian dollars (foreign currency bank acount with no card access) for a trip. I need to get it on a debit card. Can i do this? 2. If I am unable to put it on a Currency debit Card using currency fair, will I have trouble moving it from an Australian foreign currency account in Canadian dollars to an Australian regular everyday account in Australian dollars using currency fair?

[@CreativeNomadTV]

Hi! Unfortunately, as far as I'm aware, none of the services listed in this video offer prepaid cards as an option to receive your converted funds (I wish they did!). You need a bank account on the receiving end (which can be yours or someone else's). If you have a Canadian dollars in an Australian bank, you may be able to "send in" CAD to Transferwise or Currencyfair, let them do the conversion to Australian Dollars and "transfer out" to a regular AUD account in Australia. However CurrencyFair/TransferWise do not have Canadian Dollar accounts in Australia for you to "send in" the money. You would have to wire the money internationally (CurrencyFair has their CAD account in Ireland, and Transferwise in Canada.). Your bank may charge you some fees for the international wire transfers required to "send in" the funds. Since your case is a bit special (CAD in an Aussie bank account), I would contact Transferwise and Currencyfair support to ask what are your options to "send in" CAD from Australia.

[@jessy.clifton]

CreativeNomad TV yeah my bank is the issue now. Im trying to send the money to the currency fair bank account.... in CAD. but my bank here in aus is letting me send in CAD only usd or british money... so now im heading in store to try and overide the online international transfer options.... this bank had a noose around my neck. Ready to snap

[@jessy.clifton]

Not letting me send CAD *correction

[@ruchirawat]

Thank you. Great Video.

[@akashkale5422]

Thanks for giving me this information

[@CreativeNomadTV]

You're welcome, thanks for watching!

[@sohaibhayat4510]

Hi I just came across your video Today and I was just wondering I’m trying to transfer money from standard charted bank and now they’re asking for IRS payment 50% of current balance I’m trying to transfer. I just wanted to make sure if the bank is requiring payment for an some short form to to send to the IRS ?

[@CreativeNomadTV]

Be careful, *lots* of scammers pretend to be calling from the IRS. I'm not in the USA but I think it would be extremely unusual to pay your taxes via Transferwise or wire transfer. If it is a legitimate tax bill, it should come with payment instructions (usually paper cheque in the mail or online bill payment on your bank's website).

[@awareguy28]

Thank you for this explanation, so if I understand it correctly : I want to sell illustrations via my website, when I have customers, they can pay me through one of these Money Transfer systems, so they have to set up an account, and I do not. I just have to give them my bank account number for them to do the transfer ?

[@xbourque]

allis one You should probably use PayPal for a situation like that. MT services are more useful when making a one time big purchase overseas like a house.

[@awareguy28]

I hope CreativeNomad will give me a serious answer

[@chome4]

'Revolut' is worth looking at. Zero fee currency exchange, terms and conditions apply, but great for travellers.

[@CreativeNomadTV]

Revolut did look interesting and I tried to sign up but no love for Canadians yet. :/ I wonder how the new Transferwise MasterCard Debit card compares to Revolut?

[@shivarajbajgai3413]

Hello sir nepal money transfor who is good transfor please tell me

[@CreativeNomadTV]

Transferwise can send TO Nepal from most countries. It cannot send FROM Nepal. I could not find a service that sends FROM Nepal unfortunately. transferwise.com/help/14/currencies/2932337/npr-transfers

[@juligrlee556]

I worked with TransferWise for 3 days and was finally denied by them with no reason provided by them. They simply said I was denied service. I was asked for more and more information. I sent them up to 6 documents and they kept wanting more and more. Finally when they asked for my bank statement, I refused as no one gets to see my bank statement but me. They are not an option for me. I need to send money from the US to Spain. Currency Fair is not an option because as a US resident with a US bank account, I am not eligible to transfer money to Spain. I would have to live in a third country to transfer money from my US bank to to Spain. I am currently applying for transfer acceptance by XE.

[@xbourque]

Sorry to hear you are having problems with TW. Which documents did you send them before they asked for a bank statement? XE is still pretty good, I used them a lot in the past and while not as cheap as TW, they are still *much* cheaper than international wire transfers at the bank. FYI, CurrencyFair would probably accept your business, but since they do not have a local account in the US, you would need to send US dollars to Ireland (where CF has it's USD account). There is a good chance your bank will charge you a fee for doing an international wire... which would defeat the purpose of using a money transfer service.

[@juligrlee556]

I sent them drivers license, title to car, insurance card, social security card and a few more I cannot remember. They were not real helpful when I called them either. I did change my name 5 months ago so perhaps this was the problem. All my utility bills are paid automatically so I never see a statement with an address. I did not send them my bank statement however. They gave no reason for denial when I checked with them today. I thought about signing in with a different e-mail address but without a reason for denial I just moved along. I'm also checking out HiFX today.

[@qazqwertyqaz9551]

This is not fully true! If you find a card provider that doesnt charge spread and fees then the ATM will give you the best rate as you get the mid market rate from Mastercard or Visa if you choose to be charged in the local urrency.

[@CreativeNomadTV]

In my experience Visa and Mastercard usually charge between 2.5 to 3.5% above mid-market. Also, when getting cash at an ATM, this is considered a cash advance and interest starts running right away as opposed to the end of the month for purchases. Finally, good luck finding an ATM that will process a foreign card from a different bank without any fees. However, I agree that for short travels using a credit card to pay for stuff in local currency and letting Visa/MC do the currency conversion is usually the cheapest option for most people. However for expats/relocations I still strongly advise against 'milking the atm'.

[@youeclipseall]

Is payoneer one of the money transfer service?

[@CreativeNomadTV]

From what I can gather on their website, Payoneer is similar to a money transfer service in the sense that they appear to have bank accounts all over the world. However, it seems their main focus is to collect international payments for small businesses and freelancers. They charge a 2% spread on top of mid-market for currency conversion. If you are interested only in international money transfers and not anything else they offer (invoicing, payroll, virtual international bank accounts, etc...), then using CurrencyFair or TransferWise is going to be cheaper.

[@youeclipseall]

Thank you so much for replying and explaining!! I have been looking into them, and it seems that CurrencyFair or TransferWise can only be used if I initiate the money transfer. Is it true to say I can't for example get paid from Amazon by TransferWise?

[@CreativeNomadTV]

Transferwise has a new product called the 'Borderless Account' which provides you with local bank accounts in the US, UK, Eurozone and Australia. If your Amazon affiliate accounts are in these areas, you can use Transferwise to get paid. Otherwise Payoneer looks like what you need, but I have never used them myself so I cant vouch for them either way.

[@youeclipseall]

Thank you so much for your reply it's very helpful!:)

[@laliashooky6694]

I’m moving to a different country and I live in USA how do I send all my money to the bank account I will be going to I want to put all my money inside the new bank account

[@CreativeNomadTV]

Transferwise is perfect for that. Open an account with Transferwise and when you open your bank account in your new country you can start sending yourself money using your new foreign bank account as the recipient. If you have a large sum to move I suggest moving it in small chunks of 5-10k$ to limit how much money is frozen in the very small chance you have a problem in a transfer.

[@idkcoder]

Love it

[@harinhari7903]

Bro do we hv to pay any money charges for any international transaction..for instance a person frm Canada to send money to malaysia??

[@CreativeNomadTV]

Any money transfer service will charge either fees or a spread on the exchange rate. For example Transferwise will charge approx 15$CAD and no spread to send 1000$CAD to Malaysia.

[@manjunathnimboji3611]

Hi, thanks for the video. I am trying to transfer money from Japan to India. My query is, is it ok if I don’t enter transfer reference number while transferring money from my Japan bank account to transfer wise bank account.

[@CreativeNomadTV]

Every route has different requirements for transferring money to Transferwise. I've never done a transfer in Japan so I'm not sure exactly what is required. You should contact Transferwise customer service if you need more information!

[@LinhNguyen-wf1ny]

All three companies for which you recommend, require that you send it in a local currency to be picked up in another local currency. But my money is in a foreign bank account in US$ and I want it to arrive in US$. Is this possible?

[@CreativeNomadTV]

If you dont require currency conversion, money transfer services dont make as much sense since there is no spread on the exchange rate. An international wire transfer is probably all that you need. Except rare exceptions, money transfer services can only receive payments in the local currency (i.e. you can only send AUD from Australia, USD from the USA etc...)

[@charlesmclaughlin9236]

how do I convert money in my account, I tried to do this (select an existing Currency, and click the Convert button. Follow the instructions on screen, where you will be prompted to enter the amount you wish to convert. You’ll be shown the fee on the same screen.) but got this you only have GBP you need at least another one to convert !

[@CreativeNomadTV]

You should check out the video titled "TransferWise in Detail" on my channel if you want to see a step by step on how to use a money transfer service.

[@abhijitv]

excellent !

[@hugolapa1229]

hey can you explain what currency clearance is do it asap please

[@CreativeNomadTV]

I'm sorry, I'm not sure what that means exactly in the context of money transfers via services like XE, Transferwise or CurrencyFair.

[@jamcard]

excellent

[@arifridzuan1728]

How to spot if he/she is a scammer please reply🙏🙏

[@Arlo14324]

What is COT code sir

[@ashsqx3246]

I want to transfer 100000 dollars from Australia bank account to Dubai bank account. What's quickest way that won't appear suspicious?

[@CreativeNomadTV]

When I had large amounts to transfer because of relocation in the past, I usually breakdown the transfer in smaller chunks (sub 10k chunks). Most banks have daily limits on how much you can transfer so usually I would do a few transfer via transferwise over a few days. (Also I would advise to do a few smaller test transfers before sending a large amount to make sure everything works as expected before sending 100k$!)

[@ashsqx3246]

@@CreativeNomadTV thanks. That's what I'm planning also. I'm worried that after a few years if I want to transfer the money back from Dubai to Australia, I don't want the Australian government taxing me on the amount again. How do l prove its my own money transferred between my own accounts that should not be taxed? Also I'm scared if I transfer 10k every day for 10 days from Australia to Dubai, Australia may freeze my account, and Dubai may freeze my account. How real is this risk? What can l do to avoid that happening?

[@mokdadus]

Thanks buddy...

[@basantgaria3927]

Hello sir ! I really appriciate your constant efforts i really love your but i am in and most apps doesn,t here paypal here is one for business, by transferwise i can only recive money any service specifically that can work smoothly in india that you recommand and please send me the refferal link .

[@abhijitv]

Excellent

[@CreativeNomadTV]

+Abhijit Vyas Thanks!

[@mariusteodorescu884]

can i do it with my id card and driver license ?

[@CreativeNomadTV]

Money transfer services usually require a proof of identity (national ID card, passport, driver's license, etc...) and a recent proof of address (utility bill, bank statement, government mail, driver's license with address, etc...) to activate your account. You can see detailed information for TransferWise here: transferwise.com/help/topic/810100/verification

[@Abdel612]

western union money transfer rate keep change its legal or they are taking advance of people

[@CreativeNomadTV]

It is normal for exchange rates to change every day. Make sure to compare money transfer services on the same day to see which one has the better deal.

[@kevin.afton_]

And how do you get your money on the other end?

[@CreativeNomadTV]

The money transfer service deposits the money automatically via local transfer into the recipient bank account.

[@kevin.afton_]

@@CreativeNomadTV Yes, but when you transfer it to yourself and you dont have bank accounts in other countries, you only have a bank account where you live, how do you get your money in a different country? Can you go to a Transferwise bank and withdraw it from there?

[@CreativeNomadTV]

You need a recipient bank account in the destination country. Transferwise doesnt have physical branches around the world. If you live in the UK or in Europe you can have a look at the Transferwise debit card which can be useful for travel.

[@kevin.afton_]

@@CreativeNomadTV Yes, the Transferwise debit card could work for me. Thanks for the explanation!

[@princebright5310]

how do I send money from Nigeria to another country

[@omykron23]

lmao

[@srchalla0]

Please can explain Singapore to India transfer money

[@CreativeNomadTV]

Hi Siva, according to their FAQ, TransferWise supports Singapore to India transfers (transferwise.com/help/article/1570071/basic-information/supported-countries). You can send in your Singapore Dollars using a bank transfer, debit or credit card and the money will be delivered to a bank account in India. You can use this link -- transferwise.com/u/4cbd8a -- to get a free transfer (up to approx 900$SGD).

[@mklokeshcs]

Hi i have transferred amount thursday to UK bank account on thursday 18-07-19 n i got receipt 19-07-19, when amount will credit, or still amount will be in intimidated bank is YES bank, if UK bank account closed permanently, will i get amount back, please help on this

[@CreativeNomadTV]

You should get in touch with your money transfer service (Transferwise?) for support. Usually international transfers can take a few days.

[@BeachComber1977]

Your video was very interesting! I have a dilemma about transferring money from a credit union in America to my bank account in England. Will these money transfer companies work for me? Thx in advance for any info.

[@CreativeNomadTV]

That's exactly what they're made for. If you have large sums to transfer start with a small amount to test the system first.

[@Unocliff_21]

👌🏾

[@leguied68]

With future Ripple fees will be $0.0003 for 1 transaction no matter amount

[@andrew1958]

Cant i use paypal?

[@CreativeNomadTV]

You can but depending on the transaction, PayPal charges up to 2% spread on international transfers. Their newer transfer service Xoom seems to be in line with Transferwise for fees/spread though. (I havent had a chance to try them first hand yet.)

[@DJKrowbarKE]

Wow, problem solved.