What's the cheapest way to wire funds from the US to Europe?
The cheapest way to transfer money to or from US is not with your bank . I highly recommend CurrencyFair as a safe, cheap way to transfer money to and from US .CurrencyFair claims to reduce transfer fees by up to 90%. They charge 0.15% of the total amount exchanged when two customers match each other. When there is no match, CurrencyFair steps in to match and charges 0.4% to 0.5% of the amount exchanged. There is also a fixed €3 transfer fee. On average, customers pay approximately 0.35% per exchange.For example : Transferring $10000 USD to EURCurrencyFair will charge €3 fee and the exchange rate they give in the picture below is 1 USD = 0.8726 EUR (at the same time ,the mid rate I search on google is 1 USD = 0.8813 EUR) ,So the total cost is (8813–8723)/8813 = 1.02%How it Works ?CurrencyFair aim to cut out the middle man by providing online matching of currency buyers and sellers.The firm acts as the conduit between the two and if there is no one wanting to buy or sell your currency, the firm will do the exchange. Customers benefit from getting rates close to those banks use themselves when they trade with each other.