Tryna find better options than:
- bank wires (slow af + pricey)
- PayPal (fees be wild)
- Wise (decent but still not it)
Mainly sending smaller amounts pretty often, so the fees stack up quick, anyone got a smoother setup?
What’s the cheapest way to send money abroad rn?
byu/No_Turn_2604 inpersonalfinance
Posted by No_Turn_2604
3 Comments
Why isn’t wise “it”? I use it a lot to send money to myself in different currencies. I’ve found the fees to be low and the exchange almost instant.
There is no one-size-fits-all solution. An effectively “free” way is to give the recipient a debit or credit card in their name with no foreign fees. The network itself will auto-convert the currency at a decent rate when they spend the money. But this is a niche solution that may not apply to you.
Have you checked out Xoom? It’s part of PayPal but dedicated to sending money abroad. Every time I have used it, it’s given good exchange rates and money transfers in minutes. Fees are nominal and is hidden within the exchange rate.