Cheapest Way to Transfer Money to Czech Republic

bion83 on 17/07/2015 - 10:11
Last edited 17/07/2015 - 11:54 by 1 other user

Hi,

any thoughts what is the cheapest way to send money to Europe (Czech Republic)

I have Bankwest account but they do not support CZK, transfer would have double conversion AUD>EUR>CZK which I think would cost quite a lot….

Thanks

• 

  inherentchoice on 17/07/2015 - 10:15

  Maybe try one of these:

  • https://www.afex.com/australia/
  • http://www.ozforex.com.au/
  • http://www.xe.com/xetrade/

  If you have a lot to transfer sometimes you can ask the broker for a better rate.

  • 

    bion83 on 17/07/2015 - 10:27

    Thanks, I've checked them out but so fat worldremit seems to be the cheapest.

• 

  nocure on 17/07/2015 - 10:27

  -1

  ITunes cards.

  • 

    blitz on 17/07/2015 - 13:25

    How to ensure liquidity at the other end?

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  retiredfeline on 17/07/2015 - 10:28

  Try another bank. Might charge more for non-customers. If a large amount of money might even be worth setting up an account to get a cheaper rate. Cost of a TT ranges from $25 upwards. On top of the margin.

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  carwashhair on 17/07/2015 - 10:44

  +2

  citibank plus account may work for you: "Free international money transfers - We don't charge for transfers to any bank, anywhere. The receiving bank may charge a fee".

  • 

    Franconian on 18/07/2015 - 21:55

    Has anybody experience with this? Does the other side generally charge a fee? Rates good?

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  WalletMoth on 17/07/2015 - 11:16

  Bitcoins

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  rxjb on 17/07/2015 - 11:56

  currency fair would be good.

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  frondono on 17/07/2015 - 13:30

  +2

  if you had a citibank visa debit, you could load it up and send it over there.

  • 

    frondono on 17/07/2015 - 13:34

    I was recently in Prague and this was what I stored my cash on, fee free coversion and no other fees.

  • 

    nikey2k27 on 18/07/2015 - 08:49

    That what we did few years back we cheep then sent money over to family. just pop it on there card. Big Plus is it there in side 5min

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  thatstrangething on 18/07/2015 - 07:57

  Bitcoin.

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  973728 on 18/07/2015 - 14:58

  Currencyfair

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  SlickMick on 18/07/2015 - 16:05

  +1

  I would open a citibank plus account and send the card to the recipient. (Citibank wouldn't like this, so don't tell them.)
  You deposit AUD in the account, they draw CZK from an atm.
  We did something similar for someone in a different country with a different bank also supposedly with fair exchange rate and no fees, allows us to send money as necessary without the normal crazy costs.

  • 

    Peck on 04/08/2015 - 14:01

    It would take a lot of daily transactions to get a large sum out because of the ATM limits. Can the card be used for 'over-the-counter' large sum transactions?

    • 

      TomHale on 12/11/2015 - 04:50

      Yes, but you might get a call from their security department seeking confirmation if it's an unusually large amount based on your spend patterns.

      You can call them first and give them a heads-up to ensure things go smoothly.