Compare 1000 GBP to INR Exchange Rate (Information as of 21 April 2017, 9 AM IST).
Transfer Method
|
Rate
|
Transfer Fee
|
Amount Received
|
82.69
|
6.95 GBP
|
82,113 INR
|
|
Remit Money (Axis
Bank)
|
81.99
|
0.00 GBP
|
81,867 INR
|
Money2India (ICICI
Bank)
|
82.15
|
1.99 GBP
|
81,863 INR
|
Xendpay
|
82.14
|
2.99 GBP
|
82,154 INR
|
Azimo
|
82.10
|
1.00 GBP
|
82,020 INR
|
Remit2India
|
81.68
|
5.00 GBP
|
81,272 INR
|
Worldremit
|
82.24
|
1.99 GBP
|
82,076 INR
|
This is static price
comparison table created by manually visiting the websites. In the near future,
this table will be dynamically generated with real time data.
From the table, you would
observe that TransferWise delivers the maximum amount of money into your
account although it appears to charge the maximum transfer fee. How can it
happen? Does it mean that the other money transferors are hiding something from
you? Does it mean that you are being ripped off without your knowledge?
A traditional analogy would be
buying gold from local jeweler. When you buy gold from any jeweler in your
hometown, he carefully estimates the weight of gold purchased, then multiplies
it with that day’s gold rate and adds making charges. Some crooked jewelers
advertise and lure you telling that there are no making charges in their shop.
When you buy an ornament from them, return home and check the receipt, you will
realize that they have ripped you off using a section known as wastage. More
often than not, that ornament would have been cheaper with another jeweler who
did not invest in misleading advertisements.
Similarly, in international money
transfer business, most of the agents and banks advertise that they do not
charge any transfer fee and give you the best rates. But the truth is most of
remittance providers have hidden charges blended into their rates. They make
you believe that you get a better deal. In reality, you do not. Sign the petition
here to stop hidden fees. It is
a proven fact that the customers of TransferWise save more than one million
pound every day compared to other providers.
As Lord Buddha said, “Believe
nothing, no matter where you read it, or who said it, no matter if I have said
it, unless it agrees with your own reason and your own common sense.” Live the
words of the Supreme Being and test it for yourself. Compare the final amount
of money that you would receive from your usual transfer agent with that of TransferWise
in the widget on the side. Then decide whom should you choose.
Why is TransferWise the best
way to send money overseas?
TransferWise is a peer-to-peer money transfer unicorn founded on the principle of fairness. The vision is to make the world a bit better by helping to make the financial system fair. Kristo Käärmann and Taavet Hinrikus became tired of hidden money transfer charges and launched the billion-dollar startup in January 2011. TransferWise is completely transparent about the total charge and gives the mid-market rate for the customers. Unlike the banks and other money transfer agencies, there are no hidden charges, which makes it the wise way to transfer money internationally.
The exchange rate between two
currencies is determined by the currency exchange market. In the world before
TransferWise, no retail customer was given the mid market rate – the rate set
by the exchange market. Banks and brokers habitually spread the market rate and
generated their own buy rate and a sell rate. Some customers who desired to
perform cheap money transfers reluctantly accepted mechanisms such as Hawala.
TransferWise is better not only because it is cheaper but also because of customer
service and its strict anti-money laundering procedures. Privilege that was
available only to financial institutions is now given to the common man who
wants to send money abroad. This makes TransferWise the best way to remit money
into India.
TransferWise platform matches
your payment at the mid-market rate with one or several other people who are
making an opposite exchange. A fair service fee is deducted and the remaining
money is converted and paid to the recipient. With this robust business model,
TransferWise delivers an exchange rate that is eight times cheaper than the
conventional transfer methods. From a customer’s point of view, transferring
money through TransferWise is the same as transferring through other
conventional agencies.
Is it safe to send money Via
TransferWise?
TransferWise is fully
authorised by the UK’s Financial Conduct Authority (FCA). Also, TransferWise
complies with the local norms of countries such as Australia, Canada, Hong
Kong, Japan, New Zealand, Singapore, UK, Eurpean Union and USA. You may see the information in the link
below.
https://transferwise.com/help/article/1870573/security/security-and-regulatory-information
https://transferwise.com/help/article/1870573/security/security-and-regulatory-information
From the institutional side,
IA Ventures in New York, Index Ventures in Europe, Kima Ventures of France,
Seedcamp and The Accelerator Group back TransferWise. In addition to the great
institutional investors, private individuals who founded or are building
Virgin, PayPal, Skype, Betfair, Simple.com also support TransferWise. Transferring money through TransferWise is certainly safe and secure.
And
Customers love TransferWise
Today, TransferWise has more than one
million happy customers who transfer more than one billion pounds every month through
six hundred and fifty currency routes across the world. Passionate customers
have rated 9.5/10 on independent customer review site Trustpilot based on over
30,000 reviews.
Use TransferWise to send money
abroad and save your hard-earned income. Click the link below and save on your
transfer fees right away.
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ReplyDeleteSan Francisco Currency Exchange
How do I transfer my money and get the best exchange rate for the lowest fees and charges. When Traveling to the Philippines or when you are considering retirement you also need to consider how to transfer your money so it is more accessible you need to ask yourself what is the best method of transferring money for your personal needs and find the best service and value for your money. Send money to friends & family
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