Written on: 28/03/2013
I used this service to move savings between countries. The initial setup was easy, prompt and efficient service on the phone for the first transaction. After the first transfer, which took around 5 days, subsequent transfers were concluded in 2-3 days. This was between Canada and the UK, most time was taken waiting for the Canadian banks (I used 2 - BMO and RBC) to process the payment.
For moving larger sums there is no transaction fee, for smaller amounts there is a fee. The fee is about the same as an international bank transfer, but you pay it once (not at each end) and the exchange rate is generally better. Thus you are still better off than with a traditional bank transfer.
One aspect of the service is that the interface is that of a currency dealing system. As a result some of the terminology may be unfamiliar to customers used to regular personal banking.
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