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TransferWise app

Any experience using the TransferWise app to pay for lodging? This is in France or Spain, if that's relevant. (i.e., USD - EUR)

In the past we've used Paypal. This trip he prefers this app.

Concerns? Experiences??

Thanks

Posted by
1402 posts

I used it to pay for three apartments/zimmers in Germany last year. Very easy to use and about 1/10 the cost of doing a transfer at a bank.

Posted by
408 posts

Thanks, that helps me feel better about going this route.

Do you have any idea how they compare to Paypal, costwise, for the sender and for the recipient? I thought the TransferWise fee in their example looked high, but then again I've never done a bank wire that involves 2 currencies.

Posted by
1479 posts

Just for comparison, we had to do a wire transfer last spring for Italy. It cost $40 at my bank and I believe it was 25 euros to the recipient in Italy. (This is the first time I've ever agreed to a bank transfer, but the place we wanted to stay was so reasonably priced I agreed to it!)

Posted by
7169 posts

I just used TransferWise for a chalet in Switzerland as well as a Bike Tour in Barcelona. I normally use my credit union but decided to take a chance on this new money transfer service. I was a bit apprehensive but now that it's all complete I can say that it worked wonderfully well. Much cheaper in fees and the exchange rate was right on the target with xe.com

Posted by
279 posts

I would think two or three times about using any payment process that bypasses your credit card! When thing goes well, fine. But if there is a problem you don't have the protections provided by your credit card. I include PayPal as one of the potential problem areas. If it cost a few dollars more to use a credit I consider the cost as insurance.

Posted by
408 posts

Michael, While I understand (and share) the concerns/preferences, not all individual hosts can accept a credit card charge, hence PayPal or something like TransferWise. Typically, they ask for a % upfront and the balance in cash (local currency) upon arrival.

In this case, we have dealt with this host before so there is a degree of trust on both sides (e.g., he's not charging us a deposit nor is he asking for payment far in advance of holding our dates). But, yes, when cc is an option that's what we prefer.