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Money Transfer Experiences

We are in the process of booking a trip with Egypt and Beyond. Tarek has been so wonderful with catering to our every wish. Great recommendation from Rick!
I'm trying to figure out the best way for us to make the money transfer for the deposit to their Egyptian bank account. I have looked online at the various money transfer services. And I know I can go to my bank and have them do it.

I'm asking anyone with experience transferring money to a foreign bank account to please share their experience. If you use an online service, which service have you used? Is it easy to use? Trustworthy and reliable? Hidden fees? Would you recommend that particular service?
Thank you for sharing your experience!

Posted by
12383 posts

I have a business in Hungary and issues in Ukraine requiring occasional $$. For Hungary I just call my bank or sometimes, for smaller things I use PayPal. For Ukraine i generally use Western Union. All pretty simple and easy.

Posted by
7591 posts

We use TransferWise, now called Wise. Our bank doesn't charge us, so it's only the services' fee that we pay, which are lower than a banks' and many other services'.

Posted by
6717 posts

I would suggest TransferWise too...but, I would be very very cautious in wiring cash instead of using a credit car for a deposit. There are no protections for cash outlays. Once the money leaves your back, it's gone...if the trip doesn't materialize or the operator goes bust, you're out of luck. In the best case, you'll get a refund right away. Second best case, they'll string you along for months and you'll get hit with admin costs for them to wire the money back. In the worst case scenario, you'll be left out in the cold and lose your whole deposit.

I realize that many operators overseas want cash, not credit card deposits, but I would only deal with credit card deposits, especially in this uncertain time (I know it probably doesn't need to be said, but the world is still in a pandemic despite how vaccinations are going here in the US). It depends what your risk level is and the deposit amount. We've seen too many stories here of people losing their money with some unscrupulous vendors (and even honest ones can go bust), so helpfully your comfort level with this one is super high.

Posted by
1956 posts

I have traveled with Tarek and Egypt and Beyond Travel. It's the only time I've wired money for a trip. I used my credit union.
It went just fine. Tarek is an honest man and runs a great business.

Posted by
2809 posts

I used TransferWise in 2019 to secure a deposit on an accommodation in Budapest. It was a minimal amount for the first nights lodging. I did consult my banker, and was advised that it was a legitimate company. Their has been other discussions on the forum regarding this subject. You can access this through the search and type in TransferWise.

Posted by
91 posts

Another vote for Transferwise! It was easy and inexpensive in 2019 when I used it to secure an Agriturismo in Sicily.

Posted by
444 posts

Another vote for Transferwise. Used successfully for sending to Budapest, Kiev, France and Poland.

Posted by
1782 posts

Slbdaisy,

Just sharing my experience as we are also going to Egypt in October of this year. I got three quotes from three Egypt based agencies and of course, EgyptandBeyond travel was one of them. Egyptandbeyond was the highest of the three quotes and when I checked on the Abu Simbel extension that Tarek had quoted me $695.00 per person (this is a day trip by air from Aswan), I found that Egypt Air that does the flight, well the price was $331.74.

When I asked Tarek why the price he quoted me was so much higher, he said that it was for the guide and car transfer. Well, the guide cannot go into the temple with you and the Egypt Air day trip provides a shuttle to the site for it's passengers. He also said it was for his profit and because they do everything with style!!! I don't mind a company making a profit, but he was charging twice the cost. Yep, quite the salesman, but $695.00 was a rip off!!

So, that put his company out of consideration for us! I do hope that you enjoy your trip!

Posted by
122 posts

Thank you all for your responses! I called our local hometown bank and actually they are going to be cheaper than using Wise. I like the fact that someone will be there helping me with the transfer, and I know who to contact if there are any issues. So I think we will go with our local bank.
Yes, Tarek's company is without a doubt higher priced than other companies. We know that we are paying for extras that we wouldn't normally need or purchase. I have some particular requests for sightseeing in Egypt, and other tour companies did not include these items. We typically travel on a very modest budget, but we decided to splurge for the trip to Egypt. Thank you for sharing your experience!

ETA: The tour schedule also fit our schedule. I can only travel certain weeks of the year, and other companies' schedules did not fit my schedule. So, we pay...