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International Money Transfers
November 16, 2020
11:13 am
Forum Posts: 1
Member Since:
November 16, 2020
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Have just read your interesting Scotiabank v EQ article & notice you mention you do all your transfers via OFX.

Just to mention I've often found that XE (was HIFX) and Transferwise offer better rates:


November 16, 2020
12:16 pm
Forum Posts: 1205
Member Since:
May 15, 2007
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Thanks for your feedback! The rack rates at OFX are average. Depending on volume and frequency, you should be able to negotiate a substantially better rate.

November 19, 2020
11:27 am
Forum Posts: 81
Member Since:
October 5, 2016
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I've been using Revolut for a while (I was able to join early). I have transferred pesos to my father's Mexican bank account several times. I always got the rate you see if you google CAD to MXN and never paid any fee (if I recall correctly, the first $8,000 per month per month is free).

For example, I sent M$8,500 to him on August 4, 2020 and got charged $498.49 CAD (no transfer or exchange fee) = exchange rate 17.0517:


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