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Post by buttchopf23 on Mar 1, 2017 15:22:13 GMT
From free to 1% to 3.5% (applies at least to GEL)... surprisingly without official statement
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kulerucket
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Post by kulerucket on Mar 1, 2017 21:23:58 GMT
I was expecting a hike, but not by that much and not so soon. So those 17%'ers now look more like 10% over a single year.
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Post by saraph on Mar 1, 2017 22:26:16 GMT
Wow, and here I thought 2% was brutal.
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Post by extremis on Mar 2, 2017 0:32:14 GMT
I was expecting a hike, but not by that much and not so soon. So those 17%'ers now look more like 10% over a single year. And that is without taking into account the (likely) depreciation of GEL against EUR. I had suspected that from the beginning, so i resisted the temptation to make a currency exchange and buy those 17% Georgian loans.
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andy2001
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Post by andy2001 on Mar 2, 2017 3:02:52 GMT
So that means it's cheaper to use third party sites like transferwise, or currencyfair. As for the 17% loans. They are linked to a very weak currency.
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p40l0m4r
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Post by p40l0m4r on Mar 2, 2017 8:16:23 GMT
A couple of reply from Mintos Staff in facebook:
"The fee amount what Mintos charge for currency exchange are related to fees charged by other service providers with whom Mintos exchange the currencies. We have identified that the fee included by others in the GEL related exchange rate is substantially larger than initially estimated by us. Mintos believes that transparency is important and therefore is committed to provide mid market exchange rate with transparent commission, i.e. not hiding it within the exchange rate. Due to this we have adjusted our provided commission rate to reflect the market situation. Fees could vary also in the future on both directions due to the above stated reasons".
And 1 hour ago:
"Short update - EUR-GEL exchange commission has been decreased to 2%, while GEL-EUR exchage commission remains 3,5% and reflects the best rates we can obtain at the moment. We will also review how to disclose information about the rates to investors to be even more transparent".
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andy2001
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Post by andy2001 on Mar 3, 2017 11:06:25 GMT
Looks like the £ to Euro charge is 0.5%. So thats OK for depositing pounds to exchange to Euro.
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Post by loontik on Mar 4, 2017 19:19:52 GMT
Ouch!!! Didn't consider moving from GEL->EUR but 3.5% is big and the fact that there was not information about it. And yea the 16% looks same as EUR loans given this conversion rate though.
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stevio
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Post by stevio on Mar 6, 2017 19:12:57 GMT
Can you use any other way to exchange currency externally?
I was thinking down the lines of MSE ways of cheapest holiday money, like CC
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Post by buttchopf23 on Mar 13, 2017 19:42:23 GMT
You can pay in all other currencies, so yes tw or cf work
For overview here all exchange rates with spread %
CZK PLN 0,7 CZK DKK 1,0 CZK RON 1,0 CZK GEL 3,5 CZK GBP 0,7 CZK EUR 0,7 DKK CZK 1,0 DKK RON 1,0 DKK GEL 3,5 DKK EUR 0,5 DKK GBP 1,0 DKK PLN 0,5 GBP DKK 1,0 GBP CZK 0,7 GBP RON 1,0 GBP GEL 3,5 GBP EUR 0,5 GBP PLN 0,5 RON GPB 1,0 RON CZK 1,0 RON DKK 1,0 RON PLN 1,0 RON EUR 1,0 RON GEL 3,5 EUR DKK 0,5 EUR GBP 0,5 EUR PLN 0,5 EUR RON 1,0 EUR GEL 2,0 EUR CZK 0,7 GEL GBP 3,5 GEL CZK 3,5 GEL EUR 3,5 GEL DKK 3,5 GEL PLN 3,5 GEL RON 3,5 PLN CZK 0,7 PLN DKK 0,5 PLN EUR 0,5 PLN RON 1,0 PLN GEL 3,5 PLN GBP 0,5
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kulerucket
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Post by kulerucket on Mar 13, 2017 19:54:24 GMT
It seems now that no new 16/17% GEL loans have been added since the initial few days worth. I wonder whether more will appear.
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p2pmark
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Post by p2pmark on Oct 15, 2017 7:00:02 GMT
So that means it's cheaper to use third party sites like transferwise, or currencyfair. As for the 17% loans. They are linked to a very weak currency. I'm interested in using currencyfair. I understand that there's a refer a friend offer where both parties get 30 euro. If so, I understand the minimum deposit is 2k euro - is that right? And grateful if somebody could PM me a link. Thanks
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