Currency exchange

[Hotrodder]

Sorry if this is in the wrong place. If posting here offends anyone feel free to move it elsewhere.
We have been using Transferwise/Wise to move our UK state pensions from UK bank to French bank for many years now. Saving plenty of dosh because Credit Aggro was charging 15 or 20 euros a pop just to receive them. The transfers have always been reliable, and the time taken has reduced from about two days to sometimes less than a minute. Our only complaint in all this time is that Wise keeps changing the format or procedure on their website. They give no warning there is a change coming. When I see something is missing or in a different place I instantly start to question whether I am on the genuine website. Bogus ones are everywhere these days. I tend to kill it and start again from scratch just to make sure it is the genuine site. They quite often ask me "How are we doing"?, etc. as a short survey. I always make a big deal of complaining about unannounced changes to the website but there is never any response.

Latest problem: Suddenly when my OH wants to do a transfer Wise wants a whole pile of documents to confirm who she is, (after ten years?). To start with they wanted a scan of a document, passport, driver's license, I.D. card sort of thing. She sent them a passport scan. Four days later still can't log into her account. Sent an equiry to their help people. Gets an even more onerous list of things to find, 3 months bank statements, and loads more. And they want these transmitted to them in a live "selfie". We sent them an email stating we have no means of sending a live "selfie" but the response ignored that and they just said it is a new "requirement" they must follow.

In light of this bullshit, we are looking for an alternative currency exchange company. Can anyone suggest one, hopefully one that is equally cheap for my partial UK state pension every month?

I see a few people on other expat forums are losing faith in Wise for various reasons.

[ajm]

We get our state pensions paid directly into our french bank account at the commercial exchange rate. Contact DWP overseas pensions section on 00441912187777. They are very helpful and the process is easy. Hope this helps.

[Hotrodder]

I thank you for the suggestion but we have been aware of this possibility for some time now. We have reasons we don't want to put all of it in any French bank. For instance, in the event of a dispute with EDF or any other utility they can lock your French account. So how would we be able to pay our other bills, buy food, etc. if that happened. There are several different scenarios that can result in not being able to access your own money in a French bank. When you live carefully from one pension to the next, you don't put all your eggs into one basket.

[ajm]

In the event of your account being frozen you would ,presumably, not be able to transfer money to France. So,if your money is in England, how would you manage?

[Hotrodder]

The old fashioned way, with our UK credit or debit card.

[rabbit]

I gave up with wise some years ago and now use Revolut. I find it easy to use, reliable, cheap

[suein56]

I gave up with wise some years ago and now use Revolut. I find it easy to use, reliable, cheap

But Revolut is 100% a mobile app .. so only on if you have good mobile reception and a smartphone.

[curtis]

No problem with Wise, although I did have to "renew" my identification some while ago. That was just passport I think. Not sure I would want to send them my statements.

[Hotrodder]

Far too much personal stuff required now. We're dumping them. From what they said today, it will be a common thing now for everyone. They actually want you to estimate the total you intend to use in the next 12 months.

[niemeyjt]

Yes - money laundering regulations. You know your £100 per week pension could deprive the Tresor of a fortune in tax revenues.

Now, if you were a Russian Oligarch with a few millions to deposit, well that is a different matter.