You don’t use your banks right? They completely ripp you off.Has anyone any experience using Wise or InteractiveBrokers?
>>61433952>>61433952Banks will never offer a 0.15% fee but take 1-3% while charging you for ever additional fee for international transfer.
>>61433952Had issues with Banks refusing to deposit large amounts into my Wise before for "security reasons". Otherwise it's great. I believe there is a contact line for large transfers that can make things easier. IBKR throw a fit if you deposit-convert-withdraw, not worth risking a lock up on your brokerage imo.I would try with Wise first.
>>61433952i just use instant sepa for inside the EU, free and basically instant, like 10s. I often buy raw material from china and time is normally not an issue as I just send them bank confirmation, but I have insured payments via flywire in case anything happens
>>61433995>IBKR throw a fit if you deposit-convert-withdraw, not worth risking a lock up on your brokerage imo.would you risk it as a one time transfer?Thanks for your serious reply. I'll try wise first and ask my bank about how they view or treat dealing with wise.>>61434033>flywirethat seems to be more for corporations or organizations, no?
>>61434104Honestly no on the IBKR front. They are known to freeze withdrawals for the hell of it anyway on KYC/security grounds. If you don't need the money right away, I would consider using IBKR to stick in in a money market account in the target currency (or DCA in) and then make fixed monthly withdrawals. Unlikely to be cheaper, but perhaps check the fees on a security transfer from IBKR to the target bank's brokerage platform (plus fees etc)?If you need it now, I'd contact wise first and ask them how to smooth over the process with your local bank. Then talk to local bank. Otherwise again smaller periodic transfers could be the way to make it easier.
>>61433952if you and the person you are sending to have Revolut accounts you can change currencies without fees. not done it myself but was looking at it a while back. takes minutes to setup an account
>>61433952Revolut has no fees on currency swaps during weekdays
>>61433952Moved country, converted 300k+. Quick and easy with wise
>>61434228I actually just want to transfer my own funds to a US bank so I can invest in my US brokerage that only accepts transfers from US banks.
>>61434253Good to know!
