Why Psychic.gr Offers Payments Via Transferwise

Michael J Robey, Psychic..gr
Jun 5, 2019
2 min read

Why Psychic.gr Offers Payments Via Transferwise

Generally, when you send money there are at least two costs: the fee and the rate. That’s because banks and traditional services often add a markup to the exchange rate they use to convert your money.

Join over 4 million others getting the real exchange rate when they use TransferWise to send, spend, and receive money internationally.

International Money Transfer Fees

Billions a year go missing in bank fees for international money transfers. Are you paying too much, too?

People lose billions of dollars year to their banks, without even realizing it. But there is a new technology that is changing all that — and saving expats, freelancers, families, and SMBs millions of dollars a day. Have You Ever Sent Money Internationally?

If you have, there’s a good chance you paid more than you had to. Generally, when you send money there are at least two costs: the fee and the rate. That’s because banks and traditional services often add a markup to the exchange rate they use to convert your money. The trouble is that most people don’t realize the rate costs them extra when sending money. A lot more. For example, if you send 1,000 dollars to euros, you might find that — on top of the wire fee — as much as 3-5 percent of your money goes missing along the way, in “currency conversion” costs. Suddenly a $20-30 wire fee can turn into a $60-80 cost. The odds are, however, that you weren’t aware of that. Most people don’t understand the way this pricing structure works: in fact, 4 in 5 people underestimate the total costs.

Why Is Sending Money This Expensive?

Banks and traditional services have not built systems designed to process international money transfers in the cheapest and most efficient way. The extra costs they have get passed on to the customer in the form of a bad exchange rate, high fees, or both.

Essentially, while your bank offers you a host of services, when it comes to sending money abroad it’s unlikely to be the fastest, cheapest service. International money transfers are a peripheral service for them.So if you live an international life, chances are you’re losing money in fees that you weren’t even aware of.

What’s The Solution?

At the heart of this problem is a lack of transparency. That pricing structure banks and brokers use is incredibly hard for people to compare. However, the only way to understand which deal is best for you is to compare the true costs. Historically, that’s been hard to do (sometimes borderline impossible).

However, money transfer provider TransferWise has built a price comparison that lets you easily compare the costs between multiple banks and brokers.

Psychic.gr now accepts payment via Transferwise

It is easy to set up - Links to your Visa / Mastercard or bank transfer. - Provides a free Mastercard to draw out funds via ATM;s - Pay bills or transfer funds to your bank account or to other Transferwise members in most fiat currencies or cryptocurrencies. -Transfer fees and currency exchange rates are highly competitive.

Just sign up under my invitation link below:

Sign Up To Transferwise

Sign Up For Bookings For Readings and Courses via Transferwise