Best way to transfer from outside Eurozone

[Gerryobrien]

Hi there
Asking a question for a family friend
He is separating from his wife who lives here in Ireland with their two children
He is moving home to a European country outside the Euro zone and will be sending about 1400 back to his family per month as maintenance etc.
Does anyone have any tips for the cheapest way to transfer / convert the money? The wife will expect it to get to her every month but he will have to pay extra for any currency exchange rates etc to make sure she ends up with the 1400.

Thanks in advance.

 

[Lightning]

The best thing to do is to use an online currency broker. Do not use default FX rates.

Options include:
(1) http://www.currenciesdirect.com/en/landing/mse-offer-spring-2016?Ref=A03847-05&AffiliateType=WebSite (Currencies Direct.) Low cost FX'es.
(2) Transfer Wise. Fees vary but are typically around 0.5%.
(3) Other options:

 

[Donnie16]

We used transferwise to send back money every month from Denmark.

 

[Little Sis]

Can anyone tell me how secure is your money with Transferwise? I have used them for small business transactions in the past £1-2KSTG and they have been excellent - pretty immediate and at a much lower cost than the normal banks. However, I am now considering a personal transaction involving €150K USD and it appears that this may take 2-3 days. What guarantees do customers have and how is one's money protected while it is in transit.

 

[horusd]

I used currency fair. found them efficient, but they do charge a (small) fee.

 

[Little Sis]

Thank you. It is not the fee as much as the guarantee/cover your money has.