|
|
Post by cassiopeia on Jan 13, 2021 12:30:18 GMT
I understand Bondora have stopped accepting Transferwise which was a relatively cheap way of moving Euros from Bondora to Sterling in a UK bank. Is there any other means of transferring monies , without incurring a very poor exchange rate with any of the UK banks?
Bondora don't seem to have a helpdesk now, and seem to be asking for verification details again.
|
|
alibaba
Member of DD Central
Posts: 341 
Likes: 245
|
Post by alibaba on Jan 13, 2021 12:36:47 GMT
I understand Bondora have stopped accepting Transferwise which was a relatively cheap way of moving Euros from Bondora to Sterling in a UK bank. Is there any other means of transferring monies , without incurring a very poor exchange rate with any of the UK banks? Bondora don't seem to have a helpdesk now, and seem to be asking for verification details again, a process that's difficult to use (try adding your DoB by clicking each month from Jan 2021). If I got past that stage it wouldn't suprise me if they insisted on a copy of my passport which has run out! I use Transferwise and currencies direct, I believe CD has made arrangements for EU transfers.
|
|
|
|
Post by cassiopeia on Jan 13, 2021 12:55:01 GMT
You have transferred monies from Bondora to a UK sterling bank by Currency Direct lately?
Do you have a Bondora contact?
|
|
|
|
Post by wiseclerk on Jan 13, 2021 13:20:26 GMT
Check, if you can link a free Revolut EUR Account. If you have a free Revolut account, open EUR currency. Then transmit 1 Cent to Bondora. This should allow you to switch the designated bank account for withdrawals at Bondora to the Revolut account. the free account allows you to exchange/transfer 1000 per month free (weekdays only, check T&C).
What was the argument against Transferwise?
P.S.: Rather than attempting to do a direct Transferwise transfer to an UK sterling account: Open a Transferwise borderless account (free). Open EUR currency. You get a designated IBAN. Then as above pay 1 Cent to Bondora from there to get it linked. I see no reason why this should not work (but have not personally tried it). After withdrawing to the Transferwise EUR account, you can exchange there (for a fee) and then transfer to your sterling account.
|
|
|
|
Post by cassiopeia on Jan 13, 2021 14:33:38 GMT
They say
"We’ve made some updates to improve your investing experience and make adding money to your account more seamless. That's why we have shifted to SEPA instant bank transfers and no longer offer TransferWise as a first option alternative
SEPA aims to make cross-border EUR transfers within this area equivalent to a domestic transfer within your own country. (blah blah blah) If you still prefer to add money to your account via TransferWise, you can do so. Simply use the payment details and your reference number, to set up your payment directly from your TransferWise EUR account
if you have a Transferwise EUR account and you make a direct payment from it to your Bondora account, then it will be registered to your Bondora account and you can withdraw EUR to it."
(My bolding)
Wiseclerk, I think that's you suggested.
|
|
0risk
Member of DD Central
Posts: 217
Likes: 202
|
Post by 0risk on Jan 13, 2021 14:58:06 GMT
It might work with Transferwise borderless account. The problem with it is that when we pay to platforms, the sender is not our IBAN account, but a generic Transferwise account. That's why sometimes they ask for Transferwise statement (Mintos did). If it doesn't work, you can use Paysera. I have opened a free account there and it works great. All SEPA transfers are free.
|
|
|
|
Post by wiseclerk on Jan 13, 2021 15:06:37 GMT
Right. I forgot that Transferwise uses a generic IBAN for outward transfers. So you need a confirmation from Transferwise about IBAN ownership. But you can get that from Transferwise chat within a few hours.
|
|
alibaba
Member of DD Central
Posts: 341
Likes: 245
|
Post by alibaba on Jan 13, 2021 17:05:42 GMT
You have transferred monies from Bondora to a UK sterling bank by Currency Direct lately? Do you have a Bondora contact? Sorry did not realise that you were talking Bondora specific, I do not have a Bondora account.
|
|
|
|
Post by cassiopeia on Jan 19, 2021 10:12:57 GMT
OK, I set up the Transferwise all currency account. I first had to 1) send Transferwise £10 to £20 to set up a sterling account, then 2) convert £1 to Euros within Transferwise to set up the Euro account. 3) Then send the fraction of a Euro, minus charges to Bondora. This allows Bondora to recognise Transferwise as being your personal Euro account (there were no problems with generic account numbers) 4) Then send Euros from Bondora wallet to Transferwise 5) Convert Euros to Sterling within Transferwise 6) Send Sterling to my British bank by faster payments The whole cost was about half a percent of the amount being moved and transferred. So it was long winded, but I hate gifting High St. banks large freebies, and I think you can use the Euro account with a visa card. However, I think it's confusing for Bondora to claim they no longer accept Transferwise payments when you can set up an Transferwise account and use it in this way. |
|
