Questions tagged [international-transfer]

Sending and receiving money internationally

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72
votes
5answers
23k views

Why is a friend asking me to make multiple Money Gram transfers in my name using his money?

For the past few months, someone that I know casually is sending money to the Philippines every 2 to 3 days. He mentioned that the money is going to his family so that they can use it to travel to ...
26
votes
6answers
7k views

Umlaut Character in Account Holder Name (German Bank)

I sent a payment through international bank transfer to Germany. But, the account holder name has special characters like ö, ä, ü, and etc. In my case, it's ü. Is there any other words that are ...
19
votes
6answers
24k views

US bank w/ free online incoming/outgoing international wire transfers, no monthly charges, online application [closed]

What US banks let me do the following: % Send and receive international wire transfers for free % Send wire transfers online % Pay no monthly fees % (optional) Apply for an account online. ...
18
votes
10answers
33k views

How can I avoid international wire fees or currency transfer fees?

I'm paid by an American company, but travel to France frequently and need to have a French bank account for various reasons. So far the cheapest procedure I've found to transfer money is withdraw ...
18
votes
2answers
180k views

Are BIC and SWIFT code the same things?

I'm helping a friend with submitting an expenses claim to a US organisation we're both involved with. As the money is coming from a US bank, we can't just give them an IBAN and a BIC and be done with ...
15
votes
2answers
2k views

If I sell shares in the US, will I be liable to pay taxes in US?

I am a South African citizen living in South Africa who works for a large US company. As part of my compensation, I receive restricted stock units (RSUs) which my country considers to be part of my ...
12
votes
5answers
3k views

What strategies can I use to minimize international money transfer fees?

I would like my younger brother to start studying in a school here, and this requires frequent international money transfers: The primary source (sponsor) would be family funds that would be wired ...
10
votes
1answer
20k views

What happens with an international transfer in a different currency than my own?

My customers are in Germany and I told them to pay the money for me using a bank transfer. I gave them the swift code and the IBAN and other information, but the problem is that I forgot to tell ...
9
votes
5answers
67k views

Transfer money from Canadian bank account to US bank account while living in the US

I'm Canadian and I will be doing graduate study in the US, but I will have scholarship money deposited in my Canadian bank account (it has to be done like that, and no, they won't send checks). So I ...
8
votes
3answers
54k views

What is a maximum amount that I can wire transfer out of US?

Say, I would like to buy a property in Thailand. The price is about $200,000. I might wire it to my Thailand's checking account. Just want to know is the limitation of wire transfer. Also, is there ...
8
votes
3answers
9k views

Is it safe to give someone the following information?

An organization outside of the USA (I'm in the USA) is going to wire money into my bank account and has asked for the following information: Bank Name Bank Address Bank City/State Bank Zipcode Bank ...
8
votes
1answer
494 views

Most cost effective way to regularly transfer funds from the US to the UK?

I've recently moved to the US, but I still own a house and a car in the UK so I need to make regular transfers from the US to the UK in order to pay my UK mortgage. Admittedly I've left it a little ...
8
votes
4answers
52k views

Do we need to provide correspondent bank information for wire transfers?

I have some bank accounts with international banks like SC/HSBC/Citi. Here is the template which they provide for international wire transfers. Is it necessary to provide Correspondent Bank info to ...
7
votes
2answers
3k views

International transfer to bank account via 'routing bank'

I am currently trying to transfer payment to a Tanzanian tour company for an upcoming trip. The details they have given me for the transfer include the details of 2 banks. The Standard Chartered Bank, ...
7
votes
2answers
1k views

What is the cheapest way to move money from the United States to Canada? [duplicate]

I live and work in the United States but I have several loans in Canada that I need to pay on a regular basis, so I'm constantly moving money to Canada. Right now, I have an American Royal Bank ...
6
votes
5answers
851 views

How do I protect myself from a scam if I want to help a relative?

A close relative recently contacted me asking for some help transferring money overseas. He has an account here but for some reason can't transfer it directly to his account overseas (something to do ...
6
votes
2answers
2k views

Will I need to worry about “structuring” with wire transfers?

I am moving a large (for me) amount of money from a US bank account to a Danish one. Both are in my name. In order to even out the risk of transient exchange-rate spikes I'm planning to do it as a ...
6
votes
1answer
603 views

Financial gift or nasty surprise

If a friend from the U.K. is wanting to give me a large amount of money, why would they need my signature? They haven't requested any bank account details, but why would I need to sign something to ...
6
votes
1answer
1k views

Is it safe to send money to someone in USA through Paypal?

I am Italian but I live in France, and I need to move to US. I am searching for an apartment in Boston and apparently I found a good one that I like. I did a Skype interview with the other flatmates ...
6
votes
2answers
4k views

How does remittance work? How does it differ from direct money transfer?

I have a bank account in Germany in which I receive my salary in Euros. I want to deposit a part of it in my Indian bank account for personal savings. My Indian bank account is in INR. As I see it, I ...
6
votes
4answers
1k views

How do companies like paypal work with international customers?

I am just curious. In US there is this thing called ACH. But that requires a routing number and banks in Indonesia do not have a routing number. So how does paypal do it? ACH? Transfer?
6
votes
3answers
532 views

HSBC - Can I make international transfer in my account's currency

I was receiving payment from UK-based company. I asked them to send me money to my account overseas (not based in UK, but it's in GBP). Unfortunately, they've sent me EUR instead of GBP (despite the ...
6
votes
1answer
2k views

Transfer money from US (“prepaid”) VISA Debit to AU bank account

I have a Citi prepaid VISA Debit card (these kind of cards) that has been issued in the US. I live in Australia, and would like to move money off of the card into my bank account. For reference, the ...
6
votes
1answer
2k views

Any US tax implications — transferring UK ISA balance to USA

My wife has an e-ISA in the UK, from her time living there. It is a savings ISA, not a shares ISA. It is earning very low interest. For ease, I'd like to transfer the money to our USA accounts so ...
6
votes
1answer
846 views

Transferring large sums of money overseas

When transferring the past few years of savings from working overseas (over £25,000) to my account in the UK. This is my savings from income I received over the past several years while working ...
5
votes
3answers
7k views

Stranger in Asia wants to send me $3000 in Europe over Western Union because he “likes me”? [duplicate]

Of course, this raises a hundred red flags, but I was wondering, assuming: I don't have Western Union account, and would need to make one for this transfer He does not personally ask me for my ...
5
votes
1answer
3k views

Do I have to pay taxes on money sent to me in the US by wire transfer from another country?

I have a green card and I live in the US. I'm starting to do business with people in Vietnam, and they transfer money to my checking account using wire transfers from banks in Hong Kong or Cambodia. ...
5
votes
1answer
14k 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 ...
5
votes
1answer
180 views

Using a Visa debit card to transfer money from the USA to Europe

I am exploring my options to transfer money from the US to Europe. While a provider like Transferwise looks like a good default option, wonder if there is anything wrong with simply using my US Visa ...
5
votes
1answer
15k views

Transfering money to personal saving account in India

I am currently residing in Qatar since 2 years. I am transferring my salary from Qatar to my personal Indian savings bank account. The amount I used to transfer is used for general expenses. Do I ...
5
votes
3answers
475 views

Sending regular small amounts of money from Canada to UK

I live in Canada, a relative of mine lives in the U.K. I would like to know the best option for sending small amounts of money approximately once a month. I'm thinking most likely $100 to $300, but ...
5
votes
1answer
942 views

Tax consequences of forwarding an international wire

I need to legally and quickly transfer $300,000 from China to my US bank account. All of the funds that I need to transfer were obtained through legal means (with proof documents), however China has ...
5
votes
2answers
19k views

International transfer: is IBAN code enough for a transition?

Do I need to know the bank name if I want to electronically transfer money to a private and I only know his name, surname and IBAN? It seems that I need to know the BIC (SWIFT), or the bank name, in ...
5
votes
1answer
126 views

Who Is responsible when a currency transaction is mistakenly converted by an intermediary bank?

My client transferred USD from the US to my USD currency account in Ireland. Their intermediary bank converted the funds to Euros so it hit my USD account in Euro, was converted back to USD by my bank ...
5
votes
2answers
18k views

How to get money from bangladesh

The situation Recently we sold some property in Bangladesh. It gained a nice sum of money, but now we are a bit stuck on how to get it out. We can be flexible but prefer to transfer it to a west ...
4
votes
6answers
47k views

International wire transfer without SWIFT code

My credit union (ENT FCU) claims no SWIFT code is required to receive funds with international wire transfer, just their routing number... I am not an expert but I thought SWIFT code is required for ...
4
votes
2answers
10k views

Can wire transfers be reversed? Is there a law or regulation providing for it?

Can wire transfers be reversed? Is this codified into United States or International regulation/law anywhere?
4
votes
2answers
257 views

I am a minor in the US. Will I owe taxes from money earned from a UK based website?

My friend and I are co-running a website. He is over 18 and lives in the UK and I'm under 18 and live in the US. He gets all the money from the site into his Paypal, and is going to pay me half. The ...
4
votes
1answer
4k views

Transfer funds to Indian bank while relocating permanently to India

I am returning to India in next 3 months from USA. I have some savings money in my USA bank account. I have learnt about NRE and NRO account. I have been in USA from past 3 years and unfortunately I ...
4
votes
3answers
6k views

Offshore bank account with online International wire-transfer facility for Indians [closed]

I am a freelancer having Indian nationality and residing in India. I own and operate Sub-Affiliate program of US based company. I have bank accounts in India which operates in INR (Indian Currency). ...
4
votes
2answers
3k views

Transfer money from “inherited” land sold outside US to the US without income tax?

After my parents' death in my originating country, my family was made aware that their co-owned piece of land was always in our names, not out parents'. We recently sold this piece of land as a group ...
4
votes
1answer
227 views

Feedback regarding online services of credit unions like Alliant

I am considering opening an online account that I can operate over the internet with a CU. Would it be possible given that I am a international student on a F1 Visa in the US and not a US Citizen or ...
4
votes
1answer
437 views

Infer SWIFT/BIC code from IBAN?

Is it possible to infer / deduct SWIFT code from IBAN code, if yes how?
4
votes
1answer
253 views

Transferred money to an Intermediary Bank Account by mistake

I am having a problem with transferring money to pay for my tuition fees. The university has sent me these payment instructions: I have transferred the fees directly to the intermediary bank account ...
4
votes
2answers
105 views

Missing wire transfer from Israel to United States

Over one month ago before I left Israel, I wire transferred funds from Israel to US Bank. As of today, US Bank stated that they have not seen the transfer. I have contacted the bank in Israel several ...
4
votes
2answers
4k views

When to choose SHA, BEN or OUR (swift type) transfer

It isn't clear to me if OUR replaces the cost the receiver's bank charges its client for incoming transfers. E.g. I have 2 banks, A and B in different countries, same currency. In a SHA I expect to ...
4
votes
1answer
580 views

Recall a swift wire sent to non-existing IBAN

One of my relatives wired me money from a BOA account in US to a Nationwide account in UK. All the details were correct but the IBAN, the IBAN doesn't actually exists. The person who transferred me ...
4
votes
3answers
5k views

How do I transfer funds from Lebanon to the USA without penalty?

My parents have funds in a Lebanese bank that they want to transfer to their US bank account. They are being told that there is a 35% fee on outgoing transfers from Lebanon. How can I find out if ...
4
votes
1answer
14k views

Do charges made accidentally to the wrong name still get processed?

I have an online shop where I use a payment gateway to process credit card payment. When requesting the payment, I entered my company name in the "Bank Account Holder Name" instead of my personal ...
4
votes
0answers
663 views

Payee lost bank draft (cashier's cheque)

Right so I'll try to keep most of my frustration out of this question ;) I purchased a bank draft to pay for a vacation rental - the agreement was cash on arrival, but as I didn't have access to EUR ...