Sending money internationally has become a necessity for many of us living abroad, whether to support family back home, pay for services, or simply help friends in need. Over the past few weeks, I embarked on a journey to find the best way to send money from Germany to Chile. What I thought would be a straightforward task turned into a lesson in comparing fees, speed, and reliability. Here’s my experience with PayPal/Xoom, Wise, and Remitly.
PayPal and Xoom: Delays and Uncertainty
Initially, I turned to Xoom, PayPal’s money transfer service, thinking it would be a reliable option. Since I was already a PayPal user, the integration with Xoom was seamless—no need to re-enter bank details or verify payment methods again. It all seemed convenient at first, but the service quickly became a hassle.
Despite Xoom’s claim that the transfer would take 2 to 24 hours, I ended up waiting two full days, only to find out that the transaction had been reversed without any clear explanation. This didn’t happen just once, but twice, which was frustrating. I had expected the money to reach its destination promptly, but instead, I was left waiting with no clear communication from PayPal or Xoom on why the refund had occurred.
After these setbacks, I realized I needed a more reliable service and started exploring alternatives.
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Wise: An Unfortunate Hiccup
Next, a friend recommended Wise (formerly TransferWise), known for its low fees and mid-market exchange rates. Wise is praised for transparent pricing and the fact that it doesn’t add hidden markups to exchange rates, which made it an attractive option for sending money to Chile. Unfortunately, my experience wasn’t as smooth as expected. When I tried to sign up using my friend’s referral link, I encountered an error on Wise’s website, and after several attempts, I gave up.
This hiccup aside, Wise remains a popular choice for international transfers because of its straightforward pricing and efficient transfers. I plan to try it again in the future, but for now, I had to explore other options.
Remitly: A Smooth Finish with a Bonus
At this point, another friend recommended Remitly, and I’m glad they did. Remitly offers competitive exchange rates, though like Xoom, it adds a small markup. What stood out to me was the choice between an Economy option, which is slower but cheaper, and an Express option, which is faster but more expensive. For my needs, I opted for the Express service, which delivered the money to Chile within minutes.
Additionally, Remitly offered a €10 referral bonus when I signed up, which sweetened the deal. With Remitly, the process was straightforward, and the app’s user interface was easy to navigate. Given its solid reviews and positive experience, I’ll likely continue using it for future transfers.
Key Takeaways for Transferring Money from Germany to Chile
If you’re looking for a service to transfer money from Germany to Chile, here’s a quick comparison based on my experience:
- Xoom (via PayPal): Fast, convenient, but higher fees for larger transfers. Best if you already use PayPal.
- Wise: Generally low fees and excellent exchange rates, but my experience was marred by a technical issue.
- Remitly: A reliable service with both fast and economical options, plus referral bonuses that can help offset fees.
Overall, if speed and convenience are your priority, Xoom and Remitly’s express services are excellent options. For larger, regular transfers, Wise is worth considering due to its transparent fees and favorable exchange rates. Each service has its pros and cons, so it’s worth comparing them based on your specific needs before making a decision(Exiap)(Top Consumer Reviews).
