Questions tagged [money-transfer]

Transferring money electronically between accounts.

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How can transfer $100k in my US account to my Dutch account

I have a 100k USD in my US account that I want to move to my a Dutch account. My American bank only allows wire transfers if I am there in person (I live in Europe), so that’s impossible. Consequently,...
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Can I use a friend's bank account while living abroad?

I've been living abroad for 2 years and work as an expat independent contractor. A friend is willing to open a bank account, on his name, exclusively for my use - so my client will send payments to ...
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2 votes
1 answer
143 views

Can I appeal the cost of a rejected funds transfer from my bank account?

I recently ordered the transfer of 1000 Euros from my bank account in Israel to my bank account in Germany. After a while, when the money didn't arrive, I realized that I made a very silly mistake: ...
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Receiving money on a Wise USD account from a US bank via bill.com for a non-US resident

Some companies use bill.com to pay their contractors. Bill.com website states this: Note: To successfully receive a payment by a Bill.com customer will have to meet the following criteria: Your ...
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2 answers
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How do I transfer funds from the US to Japan if the amount is more than the wire transfer limit?

I'm buying an apartment in Japan (which is where I live), so I need to transfer about $150K from my Bank of America checking account in the US to the apartment building company in Japan. According to ...
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Why do IBAN transfers sometimes take multiple days?

Sometimes IBAN transfers can arrive the day they are made, and at most (at least in Germany) I think they can take 5 days to arrive in the recipients bank account. Why? What is going on that makes ...
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Will I be taxed on money I accept on behalf of an overseas family member?

I am a resident alien in the US. I have a family member overseas which is owed money for remote work by a person in the US. Transferring the money directly from this person internationally to my ...
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Where do I submit an ACH file in my application code?

i have 2 bank accounts Gobank and TD bank. i need to Debit Gobank and Credit TD bank via ACH. okay i understand the part where i collect information for each bank but where do i submit the information?...
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2 votes
3 answers
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Why are there two different banks in different countries in this donation scheme?

The National Bank of Ukraine has opened a special account to donate directly to Ukrainian armed forces. The official information is here. Their own bank account number is UA843000010000000047330992708,...
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Can you kindof hide a transaction from the government if you use ATM? [closed]

I'm a citizen of NL. I keep my money in US. I can send money from my US account to my NL account using Wise I can withdraw cash from US via ATM. Then deposit the cash into my NL account via ATM ...
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Trading Crypto With My Bank Account

I want to be a crypto trader and trade cryptocurrencies with my bank account. How it works is the seller would put his coins into an escrow account, the buyer will transfer him the money, and then the ...
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Sending Large Wire Transfers [duplicate]

I plan to make large amounts of wire transfers daily (which might be more than 10k) because I am a retail seller. Is there anything that I should keep in mind? For example, I heard transactions over ...
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-2 votes
1 answer
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Controlling money I send a parent for everyday expenses without power of attorney [closed]

I send my parent, who lives far away, all the money they need each month for subsistence and probably more, but I'm certain they are not making the best use of it and they are not able to explain what ...
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1 vote
2 answers
246 views

When transfering IRA ask origin or destination institution?

I have some money in an IRA account with NEW YORK LIFE. I would like to transfer this money into a Fedelity brokerage account since I can buy individual stocks there. Who do I contact to arrange the ...
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2 answers
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Time for an ACH Transfer

Imagine an investor who has two accounts at the same broker. One is a living trust account and the other is an individual brokerage account. Now the investor wants to move money from one account to ...
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31 votes
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Why is my bank unable to track a direct transfer I made to another (fraudulent) account?

I was the victim of a scam. The scammer posed as a person I wanted to do business with, and I was tricked into sending money from my bank account to another bank account using an account number and ...
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2 answers
6k views

Money Order shredded by HOA, what do I do?

The HOA (Homeowners' Association) we are dealing with charged an NSF (Non Sufficient Fund) Fee and said they weren't able to cash the money order and since this is regarding a payment due in September,...
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4 votes
2 answers
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Bank account limits: How do I pay for a house?

I am planning to buy a house next year, which is likely to cost $500k+. To fund the purchase, I’ve been selling stocks that I’ve acquired or been given by my employer over the course of many years. ...
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-2 votes
2 answers
637 views

Someone asked me to log in into their bank account

For almost two months, I have been talking online to a guy who allegedly owns a mining company in Australia but works in NYC for his current job, gem dealer! Allegedly, currently, he is on a cruise ...
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1 answer
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Can someone explain to me how does the AirTm work?

Can anyone explain to me how does the AirTm work? I understand the basics of it, but the entire process doesn't appear "smooth"..Basically just wanted to check can I get the money the ...
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1 vote
0 answers
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Reclaiming missing Revolut SWIFT transfer

I've sent a SWIFT transfer from my Revolut account to a Polish bank account (owned by my father). After sending it, I was asked for additional details (presumably because the amount was relatively ...
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Sending International Transfer from Jordan to Germany

I am trying to send enrollment fee to a German account for my master's degree. The university provided me with details that included: Receiver name Bank name IBAN SWIFT/BIC Do I need to use all ...
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SEPA credit transfer from EUR to GBP. What happens? Should there be fees?

All my bank accounts are in EUR (I am German) and I needed to transfer 100£ (GBP) to a british bank account to pay a reservation fee. I was provided with an IBAN to that account. I then converted from ...
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1 vote
1 answer
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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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4 votes
2 answers
456 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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1 vote
1 answer
204 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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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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1 vote
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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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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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1 answer
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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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1 vote
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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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2 answers
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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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-2 votes
2 answers
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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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0 votes
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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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-2 votes
3 answers
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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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1 vote
0 answers
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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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1 vote
1 answer
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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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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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1 vote
2 answers
18k 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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-4 votes
1 answer
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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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1 answer
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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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6 votes
2 answers
764 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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1 vote
3 answers
158 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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0 votes
1 answer
124 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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2 votes
1 answer
239 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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0 votes
1 answer
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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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1 vote
0 answers
389 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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2 votes
0 answers
70 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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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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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 ...
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