# Transferring money abroad



## maebee (24 Feb 2014)

Hi, I need to transfer €500 to my son's bank account in Toronto. Sending it from my TSB account to his Scotia Bank acc will cost me €32.50.  Sending it through Western Union will cost me €24.90. I've heard horror stories about Western Union. Are they ok? Is there any other way to do this? Thanks in advance.


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## arbitron (24 Feb 2014)

There are cheaper online options like Transfermate, Currencyfair, etc. If you search on here you'll find a similar thread about this.


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## Bronte (25 Feb 2014)

maebee said:


> I've heard horror stories about Western Union. .


 
What horror stories are you referring to? They are all over the place, and have been around for yonks so presumably they are doing something right?


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## puppy (25 Feb 2014)

I use currencyfair. Very fast (same day) absolutely no problems


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## so-crates (25 Feb 2014)

Have used transfermate in the past and found them good, quick and cheap. The only hassle with all of these businesses is if you don't have an account with them already. In order to set up an account they need various documents in order to verify your identity, similar to what is required to set up a bank account. They do expedite the process as quickly as possible but you'd need to factor that in if it is an urgent transfer requirement (but perhaps if you don't use it this time it is worth investigating for next time!)

The other thing to note is that certainly transfermate used to have a minimum amount of €1000 but I can't see that on their T&Cs any more.


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## rob oyle (25 Feb 2014)

so-crates said:


> The other thing to note is that certainly transfermate used to have a minimum amount of €1000 but I can't see that on their T&Cs any more.


 
Can confirm it's still the case... made a transfer with them last week. Fom ciontacting them in the morning, then making the transfer to them once they'd confirmed the details, to the exchange and then the funds were sitting in the recipient's account that same day.


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## masterboy123 (25 Feb 2014)

how about AIB banking? I heard it's cheaper too.


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## DrMoriarty (5 Mar 2014)

Currencyfair have just published a guide on their blog (in .pdf format): [broken link removed]
More like a FAQ/"advertorial", but provides some useful information.


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