Recently I blogged about Western Union Edge, a service for foreign wire transfers. Alert reader Andrew Berks commented that he uses AFEX. So I decided to open an account with this service provider. Having used the service now for a short while, I think it’s possible that AFEX is the best choice these days for foreign wire transfers.
One thing about AFEX is that if you and your foreign colleague both have accounts at AFEX, you can send each other money for free.
Yes, international money transfers that don’t cost a penny in bank wire fees.
Another thing about AFEX is that you can arrange for your foreign colleagues to send you bank wires at AFEX, and you won’t have to pay any fee for the incoming bank wires.
Yes, incoming bank wires that do not cost anything in bank wire fees.
And the outgoing bank wires through AFEX to your foreign agents, or to KIPO, or to EPO, or to WIPO … those are probably less expensive than whatever bank wire service you are using now.
I am grateful to Andrew for telling me about this service provider.
I will continue to blog about this and share my impressions.
Please post comments below with your experience with AFEX.
Update. I can’t quite figure out just what are the places where it is possible to open an AFEX account. Here are places where AFEX has offices:
- Channel Islands
- United Kingdom
- United States
But if you log in at the AFEX platform, there is a drop-down menu for language choices, including:
The fact that they went to the trouble to provide Indonesian on the platform suggests that maybe you can open an AFEX account in Indonesia.