International transfer fee


#1

I’m new. How many of you agree monzo international transfer is better than high street bank?
I have checked a high street bank about international transfer, it said £22, whereas monzo apps shown £29. It doesn’t look cheap unless it also included receipient bank charge.

Can anyone share their experience? Cheers


#2

Monzo’s international transfers are done via TransferWise.

If you take a look at TW’s homepage: https://transferwise.com/ you’ll see a calculator there

As for my experience, I love TransferWise. Very quick, very transparent fees & one of the cheapest out there compared to “normal” banks.


#3

Don’t forget to factor in the exchange rate as well as the fee (or just use the calculator linked in previous post). In my experience, high street banks will have a significantly worse exchange rate as
well as a hefty fee. I have used TransferWise for a while now and they have consistently been much, much better than what my bank offered.