2
votes
1answer
64 views

Getting paid as a Mexican independent contractor doing work for a U.S. company?

I have been offered a remote job for a serious but small U.S.-based company. I am Mexican and I won't move to the U.S. The company tells me that hiring me as an employee would be a big problem for ...
2
votes
1answer
90 views

How to protect your checking account from unauthorized transfers?

I have been thinking about how unsafe a checking account is. Every time you give a check to someone, you are providing your routing number, your account number, your bank, and your name, so I really ...
14
votes
2answers
575 views

Why is transferring money online to someone else's bank account so difficult in the U.S.?

I used to live in a poor, third world country (India) where I freely transferred money between my bank account (a savings account) to accounts held by my friends in different banks, and different ...
2
votes
1answer
350 views

What is the maximum amount of money I can send from the US to India per year?

I heard that there is a limit on the amount I can send. Can someone shed light on this? Also, do I have to notify the IRS if I send above a certain amount? What is the amount?
1
vote
1answer
779 views

How can my Canadian friend send me money in the United States?

I purchased some merchandise for a friend who lives in Canada. She wants to pay me for these items. What is the best way for her to do this?
1
vote
1answer
296 views

Will I have to pay taxes in India when I transfer money from a US bank to an Indian bank (Different a/c holders)?

I am based in US and plan to send money to India. A similar question addresses the issue when money is being transferred to my own NRE/NRO/FCNR account in India. I was wondering whether the tax ...
2
votes
1answer
886 views

Transfer large amount of money from one Wells Fargo account to another

I'm helping my fiance pay off her student loans. We both have Wells Fargo accounts. What is the quickest and cheapest way to transfer a large amount, say $20K or more, to her account? I'd prefer to ...
4
votes
1answer
141 views

Do I have to pay the Internal Revenue Service in West Africa in order to transfer a government check from West Africa to a US bank account?

If you have a government check from West Africa and want to transfer the money to a United States bank, do you have to pay the Internal Revenue Service in West Africa before you can transfer you money ...
3
votes
2answers
86 views

Recurring Electronic Personal Payment Service?

Is there a service available that allows automated recurring payments for personal transactions? I have used paypal for one time transfers to friends, but would like to be able to set up a weekly or ...
1
vote
2answers
187 views

Is it important that I check the correct “Account type” box for direct deposit/withdrawls?

On tax returns and direct deposit forms you fill out your bank's routing number, your account number, then tick a box for checking or savings. How important is checking the right box, however? At my ...
3
votes
1answer
310 views

Why are for-a-fee wires faster than 2+ day free ACH

My understanding was that any bank-to-bank transfer (be domestic or international) has to go through the Federal Reserve (why does a private institution have to be privy to all transactions?), and it ...
5
votes
1answer
3k views

Is Chase alone in restricting how much I can wire transfer, or do other banks also limit like this?

My Chase account requires that the amount I wire (either international or domestic) should have been in my account for at least 10 days. Is this a requirement for all the banks or only for Chase? Why ...
9
votes
3answers
269 views

Does that mean I'm fooling the US gov?

I'm a foreign student studying in the US. Soon, I'm a launching a website where an American ad agency will handle posting the ads on it from American advertisers and the revenues are supposed to go to ...
3
votes
1answer
452 views

How can I determine the exchange rate and fees that were applied to an international wire transfer?

I received a wire transfer from Europe a while ago. The money was sent as EUR and converted into USD by HSBC. Since the incoming transaction showed an amount that was around 3% less than expected, I ...
5
votes
2answers
757 views

How does a bank transfer money to another bank?

In a fiat currency if I do an electronic transfer for US$200,000 from say a Bank of America current account to Citibank how do the banks account for/handle the transfer? Are we just relying on trust ...
8
votes
3answers
1k views

What is the best way of transferring money from American to Canadian bank?

I am a Canadian that will be working in US for some time. I will still have Canadian bills to pay, so I would need to regularly transfer US dollars from some US bank to my Canadian bank account in ...
6
votes
4answers
9k views

How to do an international money transfer of a large sum of money to the U.S.?

I may need to transfer a substantial sum of money (worth more than 10K in US dollars) from Israel to US. With this, I have these questions questions: I know IRS is notified on any large transfers. ...
5
votes
1answer
661 views

Sending money from Canada to the US

I want to transfer money to an American bank account, but I am in Canada. What is the cheapest way to do so? MetaFilter has: USPS mail order - $700 limit, $4 charge Vanilla wire transfer (My bank ...
4
votes
1answer
153 views

Common practice of holding payment funds on checking account?

I was about to make a payment the other day to an new loan account and was going to authorize a direct bank account transfer. There was a notice that the company would perform the charge twice on the ...
4
votes
2answers
2k views

What is the best way to transfer money between banks? [US]

So this question is mainly directed to the day to day transactions between accounts of different banks. More specifically I would like to know what (if any) 3rd party you use such as (pay-pal) to ...