Questions tagged [money-transfer]

Transferring money electronically between accounts.

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1answer
96 views

Leaving US temporarily to pursue a Ph.D. what to do with my assets?

I am currently on an H1b working as a software engineer in the US. I am applying to a lot of Ph.D. positions in Europe & Asia. I have about 350k USD in Index funds(100k+ profits) and 150k USD in ...
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2answers
166 views

International bank transfer on behalf of someone else

A close family member wants to transfer money from the UK to their personal account in Brazil using BB Remessa. Since they have reached their personal transaction limits, they have asked me to sign up ...
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1answer
139 views

Is it suspicious to send $10K via Interac e-Transfer by dividing it into 4 transfers of $2.5K each?

At my bank, there is a $3,000 daily limit and $10,000 weekly limit on Interac e-Transfers. Will the bank or regulatory authorities be suspicious if I decide to use Interac e-Transfer to send $10,000 (...
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1answer
55 views

Does binance use SEPA while withdrawing euro when we use sepa?

My bank deducted a portion of money that I withdrew from binance to my eur account? I asked santander bank in poland they answered: 0 PLN for transfer in EUR, from the EEA (European Economic Area) ...
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0answers
24 views

What happens if send low value swift payment via BEN?

I am wondering what happens if I made a low value swift payment (e.g under £10) which is less than the transaction fee. Would the payment be rejected?
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2answers
287 views

Is this a 'trust fund scam'?

A week ago i received an email from an old lady (i actually submitted an ad on a site to find penpals), it seemed okay at first, she said that she had no children or relatives, and her husband was ...
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1answer
111 views

How is digital currency different from that of an e-wallet? [closed]

To quote from the newspaper, Unlike e-wallet Digital currency does not involve a third party. A detailed explanation to this will be most certainly welcome. What is really being referred to here as ...
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0answers
96 views

The Military Junta in Myanmar tried to “empty” $1B from the NY Fed. As a deposit liability of the Fed, where would this money have actually gone? [closed]

https://www.reuters.com/article/idUSKCN2AW2MD?il=0 In the above article the Myanmar Military tried to "empty" the account belonging to the Myanmar Central Bank held at the NY Fed. This ...
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2answers
203 views

How many accounts can a scammer take money from? [duplicate]

Someone wants to give me a check over the internet to deposit into my account. If I have a checking and savings account, can they access both? or can they just get to one account?
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2answers
1k views

My sugar daddy wants me to pay a $50 conversion fee on paypal

This is the first time i’ve properly been involved with a sugar daddy and he wants me to pay $50 for the USD to AUD conversion rate on pay pal. is this a scam and should i just block him? i don’t want ...
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0answers
76 views

How do I safely transfer money from a US bank to a UK bank?

I am currently living in the UK after many years in the US. I want to safely transfer some money from my US bank (Ally bank) to my bank account in the UK. (Ally Bank doesn't do international transfers,...
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3answers
307 views

Inquiring does this sound like a romance scam

I met an individual on Facebook dating, he stated that a contract came through and he has to go to Turkey for three months to do the job. Individual states that he is a engineer for oil rig company ...
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36 views

What does “Monthly on %1$s” mean when setting a recurring payment with Revolut app? [closed]

When I try scheduling a recurring payment with my Revolut account,I can select a start date and then a "repeat" option, whose alternatives are: Never Daily Weekly on %1$s Monthly on %1$s ...
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1answer
57 views

How to transfer money from India to USA without attracting penalties

My Father is Indian citizen and I am a resident alien. If my father wants to send me money through bank to bank transfer, what is the limit and what are the latest tax and money transfer laws both in ...
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1answer
61 views

How much money can be transferred from India (from friend) to USA citizen | Any regulations?

I am a USA citizen. One of my close family friend (not a relative) can send money as a gift to me (up to 100k). Please let me know the procedure and forms that I/He have to submit with IRS/Tax ...
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2answers
5k views

Am I in a sugar momma scam? What’s should I do in my situation? [duplicate]

I was approached through direct message by a female account on Instagram (which seemed to be catfished) saying that she is a “sugar mummy” willing to pay $300 weekly for a sugar baby. “She” basically ...
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1answer
111 views

When doing a SWIFT transfer between two banks, which entities can stop the transfer due to suspicion of fraud?

I'm guessing that both the source bank and the recipient bank have the ability to stop the transfer. Can the other entity, e.g. SWIFT, stop the transfer due to suspicion of fraud?
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1answer
56 views

What is handled manually during a Swift transfer?

I read on this answer: A lot of SWIFT is actually handled MANUALLY What exactly is handled manually during a Swift transfer?
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2answers
520 views

Why are ACH transfers typically free, while wire transfers cost money?

I read on finance.umich.edu: A wire is a real-time method of transferring immediate funds and supporting information between two financial institutions and is relatively expensive to use. An ACH is ...
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3answers
149 views

Why do SEPA transfers involve no or minimal fees, while SWIFT transfers may cost anywhere between $15 and $45?

I read on moneytransfers.com (mirror): SEPA transfers involve no or minimal fees, while SWIFT transfers may cost anywhere between $15 and $45. Why do SEPA transfers involve no or minimal fees, while ...
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1answer
88 views

IBAN to SEPA converter

I have a UK bank account, and the IBAN number follows this example format as expected: GB45 LOYD 6016 1331 9268 19 When I log onto the Spanish utility company Iberdrola, I select the UK from the ...
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1answer
200 views

Sending Goods and Bank Transfer Scam?

I have an online clothes webshop on Aliexpress. Recently I have been approached by a buyer on Aliexpress who only wants to buy the goods directly and through (international) Bank Transfer. The buyer ...
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1answer
49 views

Gift from a brother who is USA citizen but resides in India for over 2 years would like to gift to a brother in USA who is American citizen

Can a brother in India who is an American citizen but living in India for over 2 years send a gift to a brother who is an American citizen in the USA without any tax consequences in India or in the ...
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0answers
318 views

Money gift from Indian father to son with British passport

Father in India wants to gift £ 50,000 to son in UK (who has British passport) for buying property. I am getting a letter from a Indian chartered accountant stating the source of the funds and tax ...
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0answers
66 views

Sending money to acquaintances in Armenia

Last year, I went to Armenia and stayed with host families or in small guesthouses. These hosts did not become friends or anything, but I am considering contacting them in view of the travel ...
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0answers
105 views

Dispute unauthorized charge on PayPal

I have an unauthorized charge for 500 dollars on my PayPal sent to a random person. I contacted PayPal about this and within 2 hours, they responded that they had thoroughly looked into the case and ...
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0answers
49 views

Is a non-resident allowed to receive money transfers from other non-residents to help them pay for things in Canada?

Suppose a parent has two children: child A and child B. Both children are 18+. The parent, child A, and child B are all non-citizens and non-residents of Canada; they do not live in Canada. Child A ...
2
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1answer
580 views

Tax implications on money transfers from India to the US

I am a NRI holding US Citizenship. I would like to repatriate INR (India) to USD from my NRO account from the proceeds of a property sale. I have paid all the taxes for the capital gains in India. I ...
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0answers
77 views

UK First house purchase - Amount solicitor has requested is greater than the amount I am expecting

I am currently in the process of buying my first house (UK), and am nearing the point of exchange of contracts. I have started transferring funds to my solicitor ahead of the exchange, but have ...
1
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1answer
380 views

Can I bring a large sum of inheritance money into the U.S. through an airport?

I'm an international student in the United States. I inherited around 1 million USD from my father. Can I bring that money into the U.S. through an airport?
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1answer
215 views

Can i receive money on PayPal account without a linked bank account

I have a PayPal account but I'm about to be paid without a bank account linked can I receive the money and spend it
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0answers
143 views

Receiving donations without others finding out my real name [closed]

First a little bit of context: I've written a book that I've self published. The book is under a pen name because I care about my privacy. I also have a blog. people that read my book might visit my ...
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529 views

Transferring money to a PayPal account from Western Union

PayPal, or at least under my PayPal account, allows me do perform direct deposits into the said account. Basically they issued me a PayPal account number and a Wells Fargo custodial account. Is it ...
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2answers
313 views

What is the utility of the Transferwise debit card?

I can't get my head around what the Transferwise debit card offers. If I have a credit card with no foreign fees, then I can just make payments with that wherever I go. Same with withdrawing cash ...
2
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2answers
585 views

Suggestions on how to transfer money between accounts as fast as possible?

I have my banking with one organization, and my investments with Schwab. I invest my money by "linking" my main checking account with my Schwab checking account, and then... Moving the money from my ...
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1answer
360 views

oil rig scammers [closed]

I have been talking to a man on hangouts for a couple months who says he is a private contractor and working on a rig in Germany now and says he needs money to pay taxes before he can work with cranes,...
1
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1answer
232 views

Transfer funds to India moving permanently [closed]

I am moving to India permanently in next 2 months from USA. What are my options to move my funds from USA to India considering I do not have NRE account. i.e. Is it mandatory to have NRE account? ...
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2answers
676 views

What are some drawbacks to Interac's e-transfer auto-deposit option?

As a user, what are the drawbacks for Interac e-transfer auto-deposit and what I should consider before using it?
1
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1answer
179 views

Transfer of Gifts From Iran to the US

I am a US citizen and a permanent resident living in the US. My family resides in Iran. My father which is a non-resident alien is currently supporting me financially and lives in Iran. Due to OFAC ...
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2answers
444 views

Is there a “structuring” risk when receiving international wire transfers?

I am trying to move a large sum of money from abroad to my bank account in the US via wire transfer and I don't want a Currency Transaction Report (CTR) being filed by my bank (if it's not necessary) ...
2
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0answers
192 views

Do money transfer companies have a LEGITIMATE need for a passport copy

Money transfer service Azimo asks for a copy of my passport. I sent it, after having written 'copy' on it, for security reasons. My transfer then was rejected, because 'We weren’t able to verify your ...
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2answers
77 views

Transferring proceeds to US of real estate sale abroad

My mom just sold our small weekend house in a non-EU European country for something like US$35K. It was our family property. What would be the most elegant (meaning free of taxes, paperwork and ...
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6answers
23k views

Stranger sent me $12,100

I have a small landscaping business and I advertised through Facebook. Some guy reached out to me via text message, asking me to do a job for him. He asked for a quote for installing sod in his ...
2
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1answer
397 views

I met a woman online who wants me to allow a third party to put money in my checking account to buy medicine for her mother

I've had a relationship for a month with a woman I met online. She is selling some things to make money to buy medicine from Africa for her mother. She wants me to give the buyer of the items my bank ...
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0answers
83 views

Sugar daddy wants to transfer me money for me to buy him gift cards [duplicate]

I’ve been talking to a sugar daddy for a couple days and he wants to mobile transfer me 200$. He wants me to buy 150$ worth of google play gift cards for him and then keep 50$ for myself. Is this a ...
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2answers
216 views

How to deal with my dad's newfound obsession with Western Union and sending money to strangers in the U.S.? [closed]

I'm 23 and live in Vancouver with my mom and dad. (My sister lives in Toronto center, but she's with her girlfriend; she's 29). Over the past few months (well, since March 2019) my dad's become ...
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0answers
32 views

How can I find a RIB code in a SBI passbook?

I want my dad to transfer me money from my country which is Ivory Coast (Cote d'Ivoire) in Africa. So they are asking for a RIB code; I don't know to which details it matches in SBI and I can't find ...
3
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0answers
85 views

How does Transferwise work when the cash flows are unequal?

How does Transferwise work? My understanding is that Transferwise owns bank accounts with local currencies in multiple countries, and the users pay into these accounts and are paid from another ...
1
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1answer
17k views

How can I connect my PayPal account with my Fidelity account?

How can I connect my PayPal (based in the United States) account with my Fidelity account? I don't see Fidelity amongst the bank options when trying to add a new external bank account in my PayPal ...
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1answer
83 views

Zelle Advice: Nonprofit donor sent over 1K through Zelle to the wrong person who won't refund it?

We know it is theft if money deposited by a bank to someone's account in error is kept with knowledge that it is not theirs. But what about Zelle? Someone donating over 1K to a nonprofit sent it to a ...

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