Avoiding Wise USD conversion fees? - Contractor UK Bulletin Board

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Paralytic replied

22 October 2021, 09:53
Originally posted by ApeShape View Post

So my yankee war chest is starting to grow, but to move it into my GBP account I must incur a conversation fee from Wise. I had an idea, though. Would it be practical to open a USDC or Tether wallet, buy some Eth/Btc/Doge/cumrocket or whatever and sell that as GBP? Curious, I doubt I'm the first to think of something like this. FA might throw a hissy fit though but surely I can create a matching invoice to compensate. Thoughts?

(Ignoring any potential issues here regarding your company funds investing in crypto and turning it into an investment company)

What are the charges in doing this? Are they less than the Wise fee?

How long would it take? Are you willing to accept the risk that a volatile currency could lose a significant % between the purchase and sell transactions?
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ApeShape started a topic Avoiding Wise USD conversion fees?

21 October 2021, 23:02
Avoiding Wise USD conversion fees?

So my yankee war chest is starting to grow, but to move it into my GBP account I must incur a conversation fee from Wise. I had an idea, though. Would it be practical to open a USDC or Tether wallet, buy some Eth/Btc/Doge/cumrocket or whatever and sell that as GBP? Curious, I doubt I'm the first to think of something like this. FA might throw a hissy fit though but surely I can create a matching invoice to compensate. Thoughts?
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