[TheOtherHobbes]

I used TW for a real estate purchase. It was fine, although I sent the money in stages, because money-in-transit is not covered by any deposit protection scheme.

My understanding is this applies to all of the services operating in this space, not just TW.

But the suggestion that banks are more expensive is not necessarily correct. My new bank charges nothing at all for IBAN transfers to my old bank in another country. Money usually arrives next day, or sometimes same day if sent early enough. The exchange rate seems to be the interbank rate and not a consumer rate, so it's all very simple and cheap.