EQ Bank - Teams with Transfewise for very 8x cheap Remittance of Money

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https://www.eqbank.ca/personal-banki...n=Transferwise

What you see is what you get

Check out the real exchange rate for yourself—that means no sneaky markups, because it’s only fair.
Get a quote for an international money transfer.

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Send money abroad for less

We’ve partnered with TransferWise to make sending money abroad even cheaper. Up to 8x cheaper‡—and fast and simple too—when you send it using TransferWise direct from your EQ Bank account. It’s just another way we’re making banking better.

What is TransferWise?

TransferWise is a money transfer platform that offers a cheap, fast way to send money around the world. And just like us, TransferWise believes in having nothing to hide.
That’s why we’ve integrated TransferWise into our online and mobile banking, so you can send money abroad at the real exchange rate, just like the one you see online. Full transparency. No surprises.


What you see is what you get

Check out the real exchange rate for yourself—that means no sneaky markups, because it’s only fair.
Get a quote for an international money transfer.

You Send:

CAD


Recipient Gets:
EUR GBP USD INR BRL CNY PHP VND PKR HUF PLN KRW EGP CZK MXN RON HKD
EUR Euro

• $991.81 will be converted at a rate of 0.689617 EUR —the real exchange rate
• TransferWise will charge $8.19 —that’s all it would cost!
• The full amount you will send is $1,000.00 —based on quoted rate

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Why should I send money abroad with EQ Bank powered by TransferWise, and how does it really work?

For starters, it’s up to 8x cheaper‡ than other banks. It also doesn’t take a lot of time, and it’s easy!
Let’s see how it really works.

I need to send money overseas; how do I know I’m not over-paying?

While other banks have a habit of sneaking in markups and extra charges, that’s not something you’ll have to worry about with us.
EQ Bank and TransferWise share the values of transparency and fairness, so here’s how we arrive at the TransferWise service charge versus estimated costs with the other guys:

EQ Bank Powered by TransferWise

• Zero markups
  
  You get the real exchange rate—zero markups
  
• You pay once (and only once)
  
  There’s just one clearly outlined small charge for sending a transfer.
  
• Result
  
  We’re up to 8x cheaper‡.
  

Other Banks in Canada

• You pay a hidden markup
  
  The exchange rate you get is inflated—which means your hard-earned money is being put towards a fee you can’t be sure of.
  
• You could pay again
  
  You may be charged by your bank before the money leaves the country.
  
• You could pay a third time
  
  You may be charged again by the bank in the recipient’s destination country.
  
• Result
  
  The charges can pile up without the full transparency of knowing what you’re paying each time or where it’s coming from.

Recipient country	India	United States	France
Cost1 to send:	INR	USD	EUR
EQ Bank2	$6.91	$6.95	$6.10
TD CanadaTrust3	$17.86	$33.30	$50.02
Scotiabank4	$18.87	$34.30	$49.52
BMO5	$18.11	$35.79	$47.02
CIBC6	$7.11	$13.85	$16.05
Simplii7	$7.11	$13.85	$16.05
RBC8	$29.83	$24.88	$28.46
1 The sum of the exchange rate spread and any transaction fee(s). Service provider: 2 TransferWise; 3 Global Money Transfers (using Western Union Money Transfer); 4 Western Union Money Transfers; 5 Western Union® Money Transfer™; 6 CIBC Global Money Transfer; 7 Simplii Financial™ Global Money Transfer; 8 International Money Transfer