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Selling in Europe, best way to transfer money?

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Hi everyone,

It's possible I my be selling an item or two to Basschat members in Europe; What does everyone think is the best way to transfer money in terms of being protected and avoiding charges/fees? 

Thanks in advance.

 

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Transferwise is my choice. It’s excellent - cheap and really fast. 

In terms of being protected, just make sure you use fully insured shipping. 

Job done!

P.S if the item is really expensive, consider a cheap flight and a 24hr break abroad. You can always meet at the airport 👍🏼

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Another Transfer wise user here.

Couple of years ago, bought a £600 amp from Station music in Germany. Transferwise fee.... about  £2.50+   ......  Paypal and banks wanted around £30+

At the moment, i'm debating on buying a pickup from the Netherlands, costing  Euro 78  ( £ 71 )     Transferwise fee is just over £1.   Paypal and banks  around £14-£17

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Just now, Bill Fitzmaurice said:

Does Transferwise offer seller protection?

No buyer or seller protection.  I's just a simple money transfer system.  

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Funded by your own bank account to whoever else's bank account, so there's a trail.

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1 hour ago, warwickhunt said:

No buyer or seller protection.  I's just a simple money transfer system.  

So if you send money for gear and the gear never arrives or it's broken or not as described you're left dangling in the wind. I'd rather the piece of mind with PayPal.

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1 minute ago, Bill Fitzmaurice said:

So if you send money for gear and the gear never arrives or it's broken or not as described you're left dangling in the wind. I'd rather the piece of mind with PayPal.

That's true but as someone who has fallen foul of unscrupulous buyers (not on BC) buying, paying PP then claiming money back as item wasn't as described (PP always find for the buyer), I'd not accept PP as a payment means!  BTW in my case the item was returned to me but it WASN'T the item I posted to the buyer (I assume they had a broken one, bought mine and sent their broken one back) but I've heard of various ways that PP can be turned against a seller.  :(  

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56 minutes ago, warwickhunt said:

That's true but as someone who has fallen foul of unscrupulous buyers (not on BC) buying, paying PP then claiming money back as item wasn't as described (PP always find for the buyer), I'd not accept PP as a payment means!  BTW in my case the item was returned to me but it WASN'T the item I posted to the buyer (I assume they had a broken one, bought mine and sent their broken one back) but I've heard of various ways that PP can be turned against a seller.  :(  

Ouch!  That’s a shocker.

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I split my time between England and France and am frequently transferring money. It's worth bearing in mind that some companies with low commission rates merely sting you with a bad exchange rate. My bank, for example, has a good rate but charges £25 per transfer, so it's only worth using when I'm transferring larger amounts. They all want to make money out of you!

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34 minutes ago, Jacqueslemac said:

I split my time between England and France and am frequently transferring money. It's worth bearing in mind that some companies with low commission rates merely sting you with a bad exchange rate. My bank, for example, has a good rate but charges £25 per transfer, so it's only worth using when I'm transferring larger amounts. They all want to make money out of you!

Very true and when I first used Transferwise I was very wary and kept looking for the catch; they weren't making enough money out of my transfer and sadly that made me suspicious... we expect to be scr3wed when using fiscal institutions.  :(  

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Just been onto Barclays about this very matter. They will do a money transfer over the counter but will charge £30, or use my personal accounts internet banking tfacility through the international payments tab and its completely free!!

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On 08/12/2018 at 20:25, Bill Fitzmaurice said:

So if you send money for gear and the gear never arrives or it's broken or not as described you're left dangling in the wind. I'd rather the piece of mind with PayPal.

Paypal are great for buyers but worse than useless for sellers - just read warwickhunt's post - but even then, someone ripped me off as a buyer and Paypal did nothing for 8 weeks. I eventually got my bank to refund me. Then Paypal decided they'd give me half the money back.  Still not good enough, but since my bank coughed up, i actually refunded Paypal.

Why you have so much trust in such a gang of cowboys as Paypal, is weird

Transferwise are far more trustworthy. If the seller sends you a pile of poo, then i would contact my bank.

Edited by fleabag

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