Basic questions about international (US to Europe) money transfer

Post date: 2021-01-18 00:54:07

My father (not internet savvy, no smartphone, etc.) in the US needs to make some large payments in Europe over the following year or so, and I would like to help him figure out an easy way to set up economical transfers.

1) I think it would make things easier if I do the individual payments from here (Germany), given that I regularly do electronic bank transfers, so he would want to just transfer 1-3 big sums over the course of the year, I am guessing on the order of 50K EUR all together.
2) My understanding is that it is more economical to use a transfer service like xe.com or transferwise. The latter seems more straightforward. But then, I take it, one still needs to arrange a transfer to that service from one's bank, so he will still need to go to the bank physically to do it. 3) Also, I am having trouble finding out what the differences in rates will be. His bank has a nominal transfer fee for international transfers (given the amount of money involved), so I guess the difference will be in the exchange rate offered. I wonder if someone could give me an estimate of what that difference would be between just using one's bank and using xe or transferwise.
4) Any other tips or warnings, for someone who hasn't done this sort of thing before, would be helpful!
Thanks.

Please click Here to read the full story.