I couldn't agree more. I was looking for a simple way to transfer my work pension, of a few hundred pounds a month, as cheaply as possible at the best rate. Transferwise give you the interbank rate (that's the one you see when you look up online, but you normally achieve several cents less ). They charge £1 to transfer up to £300 and a tiny amount for sums above this. They also avoid receiving charges by your french bank, because they have accounts in both countries and they match someone changing from £ to E with someone changing from E to £, so they pay my transfer (to them) from bank in Scotland, from their bank in France, and vice versa for someone transferring from France to UK, so no receiving fees. Ha, ha! Foiled you banks. This means I can transfer my small pension every month for a charge of about £1.50 and apart from that I receive the full exchange amount. Only fly in the ointment is the present £/E exchange rate.