Cheapest way of converting EUR->USD?

Google AdsSwe
Jun 27 15 Comments

I have a US bank account and an EU bank account. Can open new bank accounts anywhere if needed.

So far the best deal I've found is transferwise, which takes about 0.5% off the Google rate.

I was also looking at crypto but exchange fees don't make it worth it at my level (O(10k)).

Any advice?

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TOP 15 Comments
  • Facebook / Eng bouncy
    Look into IB (interactive brokers), if they have a branch in the EU country, you can open an account there and move money around with minimal fees and the lowest forex
    Jun 27 2
    • Google AdsSwe
      OP
      I already have an account with them, will see how much they'd charge 😁 thanks!
      Jun 27
    • Google / Eng pcdizzy
      Couple bucks per $100k. Which is nothing considering the normal market volatility. Extremely low spreads, sub 1 pip.
      Jun 27
  • New / Finance USAMEXEQUI
    TransferWise, is the best !
    Jun 27 0
  • New / IT EyLK36
    ATMs. 0% fee
    Jun 27 5
    • Google AdsSwe
      OP
      This is a great idea! Didn't think of that, thx
      Jun 27
    • Google / Eng pcdizzy
      But 2% markup in exchange rate over the market
      Jun 27
    • Bloomberg / IT Be a man!
      ATM is not zero fee. The exchange rate will very unfavorable.
      Jun 27
    • Google AdsSwe
      OP
      I thought ATMs use MasterCard exchange rates? Which are not quite interbank, but fairly good. Today's EUR->USD rate is 0.7% above midmarket, so not too bad
      Jun 27
    • Google / Eng pcdizzy
      That's in the best case. Usually the rate is set completely arbitrarily and intransparently by bank
      Jun 28
  • Accenture yqw
    for IB and transferwise what are the limits for transfer?
    Jun 27 1
  • Zillow Group / Eng
    Hollowed

    Zillow Group Eng

    PRE
    Motorola
    BIO
    Praise the Sun!
    Hollowedmore
    Use Qapital?
    Jun 27 0
  • Accenture yqw
    i think transferwise will report the amount transferred above 10K

    https://transferwise.com/us/blog/international-wire-over-10000

    curious if anyone has transferred 10K or more and if transferwise asked for additional docs
    Jun 27 0
  • New / Finance USAMEXEQUI
    TransferWise is $1 million
    Jun 27 0

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