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money (wire) transfer
Hi,

I have a largish amount of money in a US savings account. I would like to transfer this to my newly opened UBS account (in CHF). Right now the exchange rate given by google is 1USD=1.135CHF. This is similar to the "Interbank Spot Middle Rate" given bu USB here:

http://www.ubs.com/1/e/index/bcqv/calculator.html. However when I actually plug in the amount I expect to transfer into this calculator I only get the rate of 1.0925 - 4% less than 1.135 - This is also similar to the rate I got when I deposited the US cash in my wallet into my account yesterday. 4% seems like a robbery to me - do you know of a way to avoid this? Any better way to transfer money out of the US?

thanks,

Wojtek


The text you are quoting:
Hi,

I have a largish amount of money in a US savings account. I would like to transfer this to my newly opened UBS account (in CHF). Right now the exchange rate given by google is 1USD=1.135CHF. This is similar to the "Interbank Spot Middle Rate" given bu USB here:

http://www.ubs.com/1/e/index/bcqv/calculator.html. However when I actually plug in the amount I expect to transfer into this calculator I only get the rate of 1.0925 - 4% less than 1.135 - This is also similar to the rate I got when I deposited the US cash in my wallet into my account yesterday. 4% seems like a robbery to me - do you know of a way to avoid this? Any better way to transfer money out of the US?

thanks,

Wojtek



wojtekOct 2, 2008 @ 23:42
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Re: money (wire) transfer
Post 1

Your testimony looks like the ones on moneytis.com you can get an accurate comparison, usually cutting the cost by 4.


Hope it helps

The text you are quoting:

Your testimony looks like the ones on moneytis.com you can get an accurate comparison, usually cutting the cost by 4.


Hope it helps


Christophe lassuyt, Sep 10, 2016 @ 21:35
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Post 2

I would advise you inform your bank beforehand of the "largish" transfer you intend to make. anything above CHF 9'990.00 will need to be fully documented (anti money-laundering, anti-task evasion, etc).

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I would advise you inform your bank beforehand of the "largish" transfer you intend to make. anything above CHF 9'990.00 will need to be fully documented (anti money-laundering, anti-task evasion, etc).


hay_, Sep 11, 2016 @ 16:26
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Re: money (wire) transfer
Post 3

I would advise you inform your bank beforehand of the "largish" transfer you intend to make. anything above CHF 9'990.00 will need to be fully documented (anti money-laundering, anti-task evasion, etc).


Sep 11, 16 16:26

The original post dated back to 2008. Christophe was trying to do some marketing for himself by commenting on some super old posts. ; ) This is just one of them. But guess he did not see that he was commenting on posts from 2008-2010.

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The original post dated back to 2008. Christophe was trying to do some marketing for himself by commenting on some super old posts. ; ) This is just one of them. But guess he did not see that he was commenting on posts from 2008-2010.


Reka Y, Sep 11, 2016 @ 16:30
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Re: money (wire) transfer
Post 4

I'm open to remove my post if it's useless.


 


I looked at the questions asked on google and found this post. My answer is about a new and accurate comparison which could help people like me who are working abroad.


I truly hope it could be useful. The question is almost 10 year old but there are other people like me who read the answers.


 


Just thought an update could help.


 


I'm proud of my job. I'm proud to promote a transparent and free service: Moneytis.

The text you are quoting:

I'm open to remove my post if it's useless.


 


I looked at the questions asked on google and found this post. My answer is about a new and accurate comparison which could help people like me who are working abroad.


I truly hope it could be useful. The question is almost 10 year old but there are other people like me who read the answers.


 


Just thought an update could help.


 


I'm proud of my job. I'm proud to promote a transparent and free service: Moneytis.


Christophe lassuyt, Sep 11, 2016 @ 20:23
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Re: money (wire) transfer
Post 5

I'll probably transfer money using bitcoin, have someone ever done it? I will do it on the same moment so I limit the risk of price fluctuation. 

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I'll probably transfer money using bitcoin, have someone ever done it? I will do it on the same moment so I limit the risk of price fluctuation. 


Filipe Gonzaga, Sep 11, 2016 @ 21:56
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Post 6

Hi Filipe and others,


I use a service called transferwise which is awesome and saves you a lot of money vs. doing it through a bank. I don't work for them or anything, but if anybody uses my invitation link I can get a cash reward (after three people use it) so I thought I'd put it out there:


https://transferwise.com/u/943595


And if you use it you get a free transfer up to GBP 500 (and maybe a discount if it's higher?)

The text you are quoting:

Hi Filipe and others,


I use a service called transferwise which is awesome and saves you a lot of money vs. doing it through a bank. I don't work for them or anything, but if anybody uses my invitation link I can get a cash reward (after three people use it) so I thought I'd put it out there:


https://transferwise.com/u/943595


And if you use it you get a free transfer up to GBP 500 (and maybe a discount if it's higher?)


Rowan P, Sep 13, 2016 @ 11:47
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Post 7

also recommend currencyfair: https://www.currencyfair.com/?channel=R9D711 

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also recommend currencyfair: https://www.currencyfair.com/?channel=R9D711 


Rini B, Sep 15, 2016 @ 23:59
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Re: money (wire) transfer
Post 8

I'm open to remove my post if it's useless.

 

I looked at the questions asked on google and found this post. My answer is about a new and accurate comparison which could help people like me who are working abroad.

I truly hope it could be useful. The question is almost 10 year old but there are other people like me who read the answers.

 

Just thought an update could help.

 

I'm proud of my job. I'm proud to promote a transparent and free service: Moneytis.


Sep 11, 16 20:23

Your answer could be helpful to folks looking to transfer money, but you're not being transperant: if you work for Moneytis or are associated with them, you should be a lot clearer about that. 

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Your answer could be helpful to folks looking to transfer money, but you're not being transperant: if you work for Moneytis or are associated with them, you should be a lot clearer about that. 


Nir Ofek, Sep 17, 2016 @ 13:29
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Re: money (wire) transfer
Post 9

About it: I'm open to remove my post if it's useless.


I looked at the questions asked on google and found this post. My answer is about a new and accurate comparison which could help people like me who are working abroad.


I truly hope it could be useful. The question is almost 10 year old but there are other people like me who read the answers.


Just thought an update could help.


I'm proud of my job. I'm proud to promote a transparent and free service: Moneytis.


 


=> I work at Moneytis. We are building the most accurate comparison service for money transfer options.


You are right it's obvious for me that with "I'm proud of my job" I tell that I work here. It's in my description, not hidden at all. It's also mentionned on the website.


 


Can't edit my own original post. 

The text you are quoting:

About it: I'm open to remove my post if it's useless.


I looked at the questions asked on google and found this post. My answer is about a new and accurate comparison which could help people like me who are working abroad.


I truly hope it could be useful. The question is almost 10 year old but there are other people like me who read the answers.


Just thought an update could help.


I'm proud of my job. I'm proud to promote a transparent and free service: Moneytis.


 


=> I work at Moneytis. We are building the most accurate comparison service for money transfer options.


You are right it's obvious for me that with "I'm proud of my job" I tell that I work here. It's in my description, not hidden at all. It's also mentionned on the website.


 


Can't edit my own original post. 


Christophe lassuyt, Sep 17, 2016 @ 13:54
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Re: money (wire) transfer
Post 10

To be totally transparent, I just looked at the visits on moneytis.com coming from glocals: 74 persons visited moneytis.com (from glocals community), and 51% actually used our free comparison service! => I'm proud about that too. It means a lot to be useful.

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To be totally transparent, I just looked at the visits on moneytis.com coming from glocals: 74 persons visited moneytis.com (from glocals community), and 51% actually used our free comparison service! => I'm proud about that too. It means a lot to be useful.


Christophe lassuyt, Sep 17, 2016 @ 13:56
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Re: money (wire) transfer
Post 11

> I'm proud of my job.


You have the right to be. Setting up his own's company is an endeavour not anybody is capable of. Congratulations.


> I'm proud to promote a transparent and free service


Glocals forums are for people to exchange useful information. They're not for promoting products.


Please accept a bit of advice from someone that has been using the Web since the very beginning: spam is unwelcome in practically every forum and can seriously undermine your credibility. Irregardlessly whether the service offered by your website is good or bad, many (including myself) would refrain from using it because they're nauseated by such an aggressive advertising.


> I'm open to remove my post if it's useless.


... and yet you posted 7 times the link in the same thread. 

The text you are quoting:

> I'm proud of my job.


You have the right to be. Setting up his own's company is an endeavour not anybody is capable of. Congratulations.


> I'm proud to promote a transparent and free service


Glocals forums are for people to exchange useful information. They're not for promoting products.


Please accept a bit of advice from someone that has been using the Web since the very beginning: spam is unwelcome in practically every forum and can seriously undermine your credibility. Irregardlessly whether the service offered by your website is good or bad, many (including myself) would refrain from using it because they're nauseated by such an aggressive advertising.


> I'm open to remove my post if it's useless.


... and yet you posted 7 times the link in the same thread. 


TheOmegaMan, Sep 17, 2016 @ 17:14
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Post 12

Hey guys,


What I see here is:


The intent of the post is search engine optimization (repeated text, section in bold) to create so called meaningful backlinks to his site, so he does not care whether he gets pushback here, except that Google bots are no fools...


The second intent is to generate some traffic on the said website, which is not the right strategy on the long run in my view: you'll get a peak of 47 today, and then what tomorrow ? 15 ? the day after, 0 ? bad reputation for your firm on top of that ?


Search Engine Optimization has become a real science and these kind of techniques are sooo far gone / obsolete.


 

The text you are quoting:

Hey guys,


What I see here is:


The intent of the post is search engine optimization (repeated text, section in bold) to create so called meaningful backlinks to his site, so he does not care whether he gets pushback here, except that Google bots are no fools...


The second intent is to generate some traffic on the said website, which is not the right strategy on the long run in my view: you'll get a peak of 47 today, and then what tomorrow ? 15 ? the day after, 0 ? bad reputation for your firm on top of that ?


Search Engine Optimization has become a real science and these kind of techniques are sooo far gone / obsolete.


 


Nicky G, Sep 17, 2016 @ 18:00
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Re: money (wire) transfer
Post 13

Thank you for your remarks, questions and thoughts. I think the best way to answer is to explain even more about the context in one post:


1/ I have been working in Switzerland over the last few years. My job was chief financial officer in different companies. I travelled to many countries in Europe and Asia, including China. 


There, I realized there are money transfer problems for people and companies: no way to find the best solution, no way to have an accurate information except getting to know about promotions (such as CurrencyFair and TFW for example: see the posts from Rowan P and Rini B). According to me the money transfer market is opaque and that is the thing we have to solve.


2/ I started working with a friend on way to bring transparency in money transfers. That's why we built a comparison platform which is 


i: 100% accurate (you can check rates on moneytis.com compared to rates on licensed solutions)


ii: 100% free for individuals


iii: 100% transparent (Indeed, the cheapest solution is always first on moneytis.com, whatever the contract we have with operators)


On moneytis.com CurrencyFair and TransferWise are both featured. Moneytis simply offers the possibility for users to choose according to a transparent comparison.


3/ I was looking on ways to wire money when I discovered a thread on glocals (this one). That's why I posted an answer which I thought would help.


 


About SEO: I am no expert as I'm a finance guy, but the strategy described above is not a profitable strategy as I spend a part of my week end to discuss with you guys ;-) I have to tell that it's always interesting to understand how and why you react to my answer, even though my only goal is to help.


About transparency: the comparison of money transfer options that you can find on moneytis.com is transparent. I also tried to be transparent by explaining how many visits I got for the year 2016 (74 visits).


But more importantly I tried to prove that the readers here at glocals, who are educated readers, are interested in a way to compare solutions, because 51% of them did on the website.


Still about transparency: I'm not saying that you are not transparent but you have pseudo here. My identity here is Christophe Lassuyt, you can find my story on linkedin or on moneytis website. I take time in my week end to explain and spread the useful solutions we created.


 


On a point of view of any reader of this thread, I consider that to the question : "which is the best way to wire money?" the answer explaining that there is an online comparison service which exists and is transparent, might be relevant.


 


 

The text you are quoting:

Thank you for your remarks, questions and thoughts. I think the best way to answer is to explain even more about the context in one post:


1/ I have been working in Switzerland over the last few years. My job was chief financial officer in different companies. I travelled to many countries in Europe and Asia, including China. 


There, I realized there are money transfer problems for people and companies: no way to find the best solution, no way to have an accurate information except getting to know about promotions (such as CurrencyFair and TFW for example: see the posts from Rowan P and Rini B). According to me the money transfer market is opaque and that is the thing we have to solve.


2/ I started working with a friend on way to bring transparency in money transfers. That's why we built a comparison platform which is 


i: 100% accurate (you can check rates on moneytis.com compared to rates on licensed solutions)


ii: 100% free for individuals


iii: 100% transparent (Indeed, the cheapest solution is always first on moneytis.com, whatever the contract we have with operators)


On moneytis.com CurrencyFair and TransferWise are both featured. Moneytis simply offers the possibility for users to choose according to a transparent comparison.


3/ I was looking on ways to wire money when I discovered a thread on glocals (this one). That's why I posted an answer which I thought would help.


 


About SEO: I am no expert as I'm a finance guy, but the strategy described above is not a profitable strategy as I spend a part of my week end to discuss with you guys ;-) I have to tell that it's always interesting to understand how and why you react to my answer, even though my only goal is to help.


About transparency: the comparison of money transfer options that you can find on moneytis.com is transparent. I also tried to be transparent by explaining how many visits I got for the year 2016 (74 visits).


But more importantly I tried to prove that the readers here at glocals, who are educated readers, are interested in a way to compare solutions, because 51% of them did on the website.


Still about transparency: I'm not saying that you are not transparent but you have pseudo here. My identity here is Christophe Lassuyt, you can find my story on linkedin or on moneytis website. I take time in my week end to explain and spread the useful solutions we created.


 


On a point of view of any reader of this thread, I consider that to the question : "which is the best way to wire money?" the answer explaining that there is an online comparison service which exists and is transparent, might be relevant.


 


 


Christophe lassuyt, Sep 17, 2016 @ 20:24
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Re: money (wire) transfer
Post 14

Thanks, I think tonight I'll be having nightmares about it. One more thing: would you mind giving the link to your website? Since you mentioned it nine times only, Glocals users might have a hard time finding it.

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Thanks, I think tonight I'll be having nightmares about it. One more thing: would you mind giving the link to your website? Since you mentioned it nine times only, Glocals users might have a hard time finding it.


TheOmegaMan, Sep 18, 2016 @ 19:09
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