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What is the best foreign exchange platform to convert my salary to my home currency?

I recently started a consulting job in Middle East and I want to transfer my salary into my home currency.

Any reccommendations on best platforms to use (e.g. Moneycorp)?

Thanks very much

10 Answers
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Top answer
Oliver
Coach
on Jan 06, 2021
Manager | Ex-Strategy& | INSEAD MBA |50+ Interviews @ Strategy& - 75+ Mock-Up Interviews @ INSEAD for MBB applicants

Hi,

I assume, you're also looking into transferring the money not only to a different currency but into a different account, likely someplace other than your current location, right?

If so, I found transferwise.com to be quite efficient and - depending on the currencies you are exchanging and the payment methods available - quite cheap (can be even lower than .5% FOREX). Best thing: you can directly check online on their website how much the cost would be, so you can easily compare it to other services.

If not, maybe an account with one of the current neo-banks (e.g. Revolut) might be helpful?

Hope that helps!

Best

Oliver

Ian
Coach
on Jan 07, 2021
#1 BCG coach | MBB | Tier 2 | Digital, Tech, Platinion | 100% personal success rate (8/8) | 95% candidate success rate

Hi there,

I agree with Oliver. Transferwise si easily the best solution out there.

They have the best fees around not to mention great user interface. This is because they "trade" funds btween members of opposite countries rather than exchanging money themselves.

on Jan 07, 2021
#1 Coach for Sessions (4.500+) | 1.500+ 5-Star Reviews | Proven Success (➡ interviewoffers.com) | Ex BCG | 10Y+ Coaching

Hi there,

Congrats on your offer. The best ways to transfer money nowadays are TransferWise (very low fee) and Revolut (0% fee during weekdays although with restrictions), although you should check if they are available in your country.

Best,
Francesco

Anonymous
on Jan 07, 2021

Transferwise

6
Anonymous
on Jan 07, 2021

+1 for Transferwise

6
on Jan 10, 2021
McKinsey | NASA | top 10 FT MBA professor for consulting interviews | 6+ years of coaching

Hi,

Revolut and Transferwise are among the top platforms.

Hope this helps.

Best,

Antonello

Clara
Coach
on Jan 07, 2021
McKinsey | Awarded professor at Master in Management @ IE | MBA at MIT |+180 students coached | Integrated FIT Guide aut

Hello!

I lived in several counties and currencies lately, and 100% winner is Transferwise. 
Also Revolut is worth checking. 

Hope it helps!

 Best,

 Clara

Gaurav
Coach
on Jan 07, 2021
#1 MBB Coach(Placed 750+ in MBBs & 1250+ in Tier2)| The Only 360° coach(Ex-McKinsey+Certified Coach+Active recruiter)

Hi there,

+ transferwise, I've also heard of TransferGo, but didn't have a chance to use it myself

Cheers,

GB

Anonymous
on Jan 09, 2021

Hi,

I personally use Transferwise. Their rate are mid market and fee reasonable.

Best,
Iman

3
Raj
Coach
on Feb 21, 2021
FREE 15MIN CONSULTATION | #1 Strategy& / OW coach | >70 5* reviews |90% offers ⇨ prep-success.super.site | MENA, DE, UK

Transferwise and Revolut are your best bets here

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