Free Currency Transfers for Travelzoo Members
We’ve partnered with TransferWise to help you save on your holiday currency this year.
What is TransferWise?
Manage your holiday money with a bank account that takes the sting out of spending abroad.
TransferWise is a streamlined online money-transfer service that lets you to convert currency cheaply and easily, and dodge commission charges in the process.
Most of us don’t realise that banks make a bonus when customers change currency, marking up exchange rates for a tidy profit while keeping the figures hidden. Step forward the folks at TransferWise, who’ve come up with the perfect way to beat the pesky financial system. By using a network of local bank accounts for their business, TransferWise can charge a low upfront fee and keep the cost of converting currency down.
The facts speak for themselves: TransferWise charges £4 when converting £1,000 to euros, while banks charge £36.
How does it work?
It’s free to join, easy to monitor via a snazzy app and comes with a TransferWise Mastercard that lets you spend abroad with zero transaction fees.
Here are the highlights for travellers:
TransferWise lets you hold 40 currencies in your account and switch seamlessly between them
Conversion fees are kept low – between 0.35% and 2% – and are always clearly displayed
You get a super-fair mid-market exchange rate, with no hidden bank charges
The first £200 that you withdraw from ATMs in a 30-day period incurs no fees
At 8% cheaper than using a high street bank, it’s a money and time saving no-brainer.
Exclusive offer: Travelzoo members receive their first £1000 of currency transfers completely free.