I hate worrying about money.
Especially when I’m traveling.
My first experience
living on my own adulting in Mumbai has been quite a challenge, financially speaking. Mainly because international wire transfers from Canadian banks to Indian banks take about a million years to process, and another billion years to trace. Whenever you’re dealing with international transfers, it’s likely that your money will have to be passed along a never-ending chain of intermediary banks that will grab their share of additional service fees you probably didn’t know about. And, if you have the same luck that I do, the first month’s rent + deposit you make for your flat might not even make it to your landlord’s account, so you face the threat of becoming homeless in a foreign country.
*Insert upside down smiley face emoji here*
Luckily, there’s an online service that will help you avoid the massive headache that comes with international money transfers. It’s called TransferWise. TransferWise allows you to send money abroad, as fast as possible, for as little as possible. Unfortunately, this service doesn’t help you deal with the stress of boys or public transportation, but at least sending money to yourself or your family and friends across national borders will be quick and painless.
Creating an account is easy – simply log in with Google, PayPal, or your Facebook account. (Speaking of Facebook, I use my Facebook page now! Give it a thumbs up if you like #LuluMeetsWorld and shameless self promotion!)
To send money, you follow five simple steps to set up your transfer. What’s cool about TransferWise is that it discloses all of the fees you have to pay, including the exchange rate and the service fee.
TransferWise also provides the estimated date of arrival, that way you’re not making costly international phone calls to your bank abroad to trace your transfer – not so fun when you’re also taking time zones into account.
Tip: Skim over their Supported Currencies page to make sure both your home and host countries are supported!
If you’re an expat or an entrepreneur building a global empire, I definitely recommend www.transferwise.com.
Want more expat tips? Read my blog post on the DO’s and DONT’s of Being an Expat!