I am an Aussie currently living and working in the US.
So I needed to transfer some money to my Australian bank account from my US account after a recent trip back home.
For those living abroad, this is probably a pretty mundane task. I think I have only done it once in my four years living in the US.
Using The Bank
Over the last month, I have tried several times to set up a wire transfer through my US bank. I’ll add that I signed up for this bank because i was told they were the best for low international transfer fees.
Today was my last attempt. I logged in to their very difficult to use online banking…then had to search to find the Wire transfer section.
I filled out all my details. Then got to the end of the process where it said, “Status: Unable to Process.”
I called the bank to ask them for help. They asked me to clear my cache and try again. I filled out all my details and again, same problem. I asked to speak to a supervisor.
A Better Solution
While on hold I remembered an ad I had seen on Facebook for TransferWise, so I brought up their webpage, signed up and processed my international transfer, all before I came off hold. It was simple, easy and I’d like to say it worked, but time will tell!
I’ll update you here once I see my money in my Australian bank account – but from ease of use it beats my bank hands down.
UPDATE: The money was in my Australian bank account super fast, and they sent me emails along the way to keep me informed. Super fast and super easy!
If you want to give TransferWise a shot, you can find out more here. (By using this link: transferwise.com/u/lukeg251, TransferWise tells me they’ll give you a free international transfer of $500 – let me know if it works!)
What do you use to transfer money overseas? Let us know in the comments below.
Note: We may earn money or products from the companies mentioned in this post.