Expats Portugal preferred money transfer company - Page 3 – Forum Etiquette & Announcements – Expats Portugal Community Forum
Share:
Notifications
Clear all

Please feel free to view our Forum, but you must either LOGIN or REGISTER to join in the conversation.

  • spartan Fx

[Sticky] Expats Portugal preferred money transfer company

Page 3 / 4

Posts: 411
Admin
Topic starter
(@astridff)
Active Member
Joined: 2 years ago

The team at Expats Portugal are please to announce that we have nominated Spartan FX as our offical partner and preferred money exchange company because of the amazing reviews and feedback we are getting from our community.

Both Sarah and Ben from Spartan FX have also been kind enough to donate their time to Good Morning Portugal as well as our webinars to share valuable information about sending money abroad with our audience. They are clear with their message and thrive on giving personal service to the Expats Portugal community.

Congratulations guys and keep up the good work.

Astrid

https://expatsportugal.com/business-directory/spartanfx/

30 Replies




Posts: 5
Community Member
(@butch)
Active Member
Joined: 6 months ago

I've been trying to figure out how Spartan FX makes their money.  Do they charge a percentage of each transaction?

Reply
4 Replies
Premium Member
(@jeanne)
Joined: 2 years ago

Reputable Member
Posts: 339

@butch  they make their money on the spread.

Reply
Community Member
(@butch)
Joined: 6 months ago

Active Member
Posts: 5

@jeanne thanks.  So there's no percentage or flat rate charge per transaction?

Reply
 Zoom
Premium Plus member
(@zoom)
Joined: 1 year ago

Estimable Member
Posts: 152

@butch No, there isn't, but they do have a minimum transaction level - they're not really set up to handle small transfers, which is how they keep their costs down. I think Wise is better for small transactions - SpartanFX is ideal for thousands and above, which is where a snafu with an automated system can cause a lot of heartburn.

Reply
 Cara
Community Member
(@cara)
Joined: 5 months ago

Trusted Member
Posts: 88

@jeanne I usually use stablecoins to transfer funds. However, I would consider this company, if I knew what the costs involved are and that they are lower. When you say they make their money on the spread, what are those spreads?

For instance, on a theoretical 100K USD transfer, how much is lost to the spread differential or transfer fees?  Is it necessary to wire funds to Spartan accounts overseas, or do they use ACH to receive funds from US based clients?

The costs of a stablecoin based transaction would be about 0.1% of the total amount all in and would follow this route or similar. Your US Bank - coinbase - binance (global) - revolut - your EU bank. 

Reply




Posts: 92
Premium Member
(@bonniem)
Trusted Member
Joined: 2 years ago

Just wondering if this is best mainly for UK people?!

In doing a comparison of  several companies on-line, Wise gave the best "bottom-line rate" (after fees, etc.) when transferring money from the USA to Portugal.

Might be good to check several before transfer from the USA. I have found Wise to be very reliable and fast and with rate guarantee for 48 hours.

Regards,

Bonnie

Reply
2 Replies
Premium Member
(@dance)
Joined: 6 months ago

Trusted Member
Posts: 82

@bonniem What amount of $$ transfers with Wise make sense ,1000 or less, or more?

 

Reply
Premium Member
(@bonniem)
Joined: 2 years ago

Trusted Member
Posts: 92

@dance I can only tell you what I have experienced personally. Each time I made a transfer (starting at $150 USD and up to $8500 USD), I compared "bottom line" amounts, taking into consideration what was being charged as fees and  what was actually transferred (exchange rates applied, etc.) and Wise came out best for what I did. And their service was reliable. 

Might be different, perhaps,  for larger amounts. You can just compare on-line for each transfer if you want to take a few minutes extra before a transaction.

Bonnie

Reply




Posts: 715
Admin UserGroup
(@gerry)
Honorable Member
Joined: 2 years ago

Hello all. Sarah of Spartan FX will be appearing on our daily show Good Morning Portugal tomorrow at 9 am Lisbon time. Carl will put these questions to Sarah.

We will post a recording of the show on this thread but meanwhile, if you want to watch live and also have the opportunity to put your own questions to Spartan, here is the link:

Currency Exchange & Health Insurance for Portugal - The Good Morning Portugal! Show - YouTube

Reply




Posts: 715
Admin UserGroup
(@gerry)
Honorable Member
Joined: 2 years ago

And here is the link to the recording of the show

Currency Exchange & Health Insurance for Portugal - The Good Morning Portugal! Show - YouTube

You can hear Sarah address the above questions about 1 hour into the show.

Reply




Posts: 715
Admin UserGroup
(@gerry)
Honorable Member
Joined: 2 years ago

Our webinar on Thursday 17 February will cover the subject of money exchange and Spartan FX will be our main speakers. The show will go out live at 19:30 hrs Lisbon time.

All attendees will have the opportunity to ask their questions during the webinar but please also feel free to raise questions here on this thread and we will put those to Spartan on the night.

Reply




Page 3 / 4

  • EI Banner
  • Reis & Pellicano International Lawyers

To post a reply, sign up and become a member!

Premium

By becoming a valued Premium Member today, your support will help the team continue to bring you useful content about life in Portugal. You can also:

JOIN TODAYOnly €25 per year
Share:

Join our community for Free, or subscribe for exclusive member-only content, support and hundreds of €’s in savings

Your membership comes with a 14-day, no-risk, money back guarantee. Love it or we’ll refund your money.

Community Member

Full access to our community Forum
FREE
  • Full access to community Forum

Premium Plus

Exclusive member-only content
€347 Year
  • Full access to community Forum
  • Browse the forum advertising-free (only see our partners)
  • Unlock your ‘12 part Moving to Portugal guide
  • Guaranteed entry to our webinars
  • Savings & freebies from our partners
  • Receive community support
  • Personal email support
  • Access to our private online Group
  • Receive exclusive video content
  • Weekly Q&A call with Carl Munson
  • Personal support
  • And help us grow this website and community
Popular

Premium Member

Exclusive member-only content
€97 Year
  • Full access to community Forum
  • Browse the forum advertising-free (only see our partners)
  • Unlock your ‘12 part Moving to Portugal guide
  • Guaranteed entry to our webinars
  • Savings & freebies from our partners
  • Receive community support
  • Personal email support
  • Receive exclusive video content
  • And help us grow this website and community

Copyright © 2022 Expats Portugal

Marketing by Unity Online