Questions tagged [money-transfer]

Transferring money electronically between accounts.

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1 answer
819 views

Wiring money out of Brazil, are there taxes?

I am helping a family member sell some property in Brazil, and transfer the money to his US bank account. I'm doing research on what we need to do to do the transfer safely and legally. I found some ...
1 vote
1 answer
137 views

International transfer in euro. Used swift code for wrong branch. What should I do?

Two days ago I transferred money from my Israeli account to my German account, but used GENODED1SPE instead of GENODED1SPW for the swift code. This code does exist, but belongs to a different branch ...
1 vote
2 answers
157 views

How can I transfer money from local US bank to international bank in Asia, if the local bank can only issue a cashier's check, not a wire transfer?

I am an American teacher in China. I received an inheritance of a substantial sum of money back in November: a few hundred thousand dollars. Because of the pandemic I could not get back to the USA ...
0 votes
1 answer
507 views

Can my friend transfer from his Indian NRE account to my NRE account?

Me and my friend live in Mexico. He has borrowed some money from me in Mexico Currency. Now he wants to return that money in India Currency. So just wanted to check is it possible if he can transfer ...
0 votes
0 answers
203 views

Could this be a scam [duplicate]

I'm asking a couple questions for a friend because I think he is being scammed. Is it possible to receive a check of a very large amount into a banking system (ILC group), but for you to receive it ...
2 votes
1 answer
195 views

The last 3 digits swift code entered wrong branch. I asked to recall the international transfer. Where is my money could be?

24 Nov 2023: I send £9000+ from the HSBC UK to Cathay United Bank Taiwan. The money arrived to intermediary bank (CITI BANK UK) soon. And the HSBC app tracker shown the transfer is in progress for 5 ...
12 votes
7 answers
10k views

How can I receive money without giving away my identity?

I am in the UK. I have won an online gaming competition in an extremely toxic international community. The prize is about $500. I do not wish to give any identifying details to this community. The ...
1 vote
0 answers
102 views

Guaranteed Funds from a 9 day trade [duplicate]

Has anyone conducted a simple bitcoin trade with a "financial fund manager" where in 7 to 9 days you received a guaranteed 3-5x return on your investment? were there any charges associated ...
7 votes
5 answers
4k views

How to wire for free

My paycheck goes direct deposit into Wells Fargo Bank. I have a bank account at Bank of America that I need to feed. However, it costs $25 to wire money from WFB to BofA. How can I get money from my ...
29 votes
5 answers
9k views

Unsolicited e-transfer: Can I send the money back or am I getting scammed?

Out of the blue, I got sent $50 I wasn't expecting over Interac e-Transfer. Now, the sender has emailed me saying it was a mistake. I want to do the honest thing and send them back their money, but it ...
-4 votes
2 answers
115 views

Why is there a need of thirdparty gateway while transferring money from one bank to another?

As per this, there is always a middleman for transferring fund between two banks. Why can't there be a direct communication between two banks? What problems would be arouse if there was direct ...
0 votes
1 answer
90 views

Do French plan épargne logement accounts accept incoming transfers from bank accounts that aren't the account holder’s other accounts at the same bank

Do French plan épargne logement (PEL) accounts accept incoming transfers from bank accounts that are not the account holder’s other accounts at the same bank?
3 votes
1 answer
92 views

Will there be any incoming & outgoing taxes on $40,000 money transfer from USA to India and possibly back from India to the US between siblings?

I am an Indian citizen and future UK postgraduate student (September 2023). To fund my studies and living expenses in the UK, I have applied to for a local government scholarship, the result of which ...
0 votes
3 answers
742 views

What information is needed for someone to withdraw money from someone else's (US) bank account?

I have a US bank account and a paypal account. I wanted to withdraw money from my bank account to my paypal account. The first step was to link the account. I did that by giving paypal my account ...
0 votes
2 answers
198 views

Why a relatively low limit for ACH transfers?

The ACH system supports transfers up to $1 million. However, the highest limit I see on this list of major banks is only $25,000. Why do banks set a relatively low transfer limit? From my ...
0 votes
0 answers
64 views

Challenges with SWIFT Transfers and Name Sanctions

My SWIFT transfers, approximately 5000 USD per year, have consistently been held by the intermediary bank. For the past 6 months, all of my payments are blocked. My clients are universities and ...
6 votes
1 answer
468 views

Used an incorrect SWIFT code for transfer. Will money return or still go through?

I made an international transfer from my bank in Italy to the U.S. The recipient account number and routing number were correct including the address, but I mistakenly used the SWIFT code of the U.S. ...
3 votes
0 answers
121 views

Transferring proceeds from sale of inherited apartment from Russia to the US

My adult children will inherit an apartment in Saint Petersburg, Russia. After the complexities of selling, taxes, and so forth, will there be any problem with a bank transferring the proceeds — the ...
19 votes
5 answers
6k views

Why are wire transfers not reversible by the bank?

ACH payments and credit card payments are both forms of electronic payments. Because of this, reversing a payment is usually as straight forward as calling your bank. However, this does not seem to be ...
0 votes
1 answer
243 views

Why would an insurer ask for a voided check instead of account+routing numbers to send an electronic funds transfer (EFT)?

Some insurer in the US has to send me some money. They wrote me the following: If you would like an EFT deposit we would need a copy of a voided check. Why would an insurance ask for a voided check ...
3 votes
1 answer
3k views

Is the Interac e-Transfer email-to-bank-account mapping unique?

A mechanism (Interac) in the Canadian banking system permits people to send amounts less than $3,000 over email. This also works for transferring funds between two accounts held by the same person at ...
1 vote
0 answers
216 views

How to anonymously send money to a seller (without using crypto)? [closed]

I want to send money to a seller without giving them my info (name, address etc). However, they don't accept crypto. Paypal is an easy option but I heard my personal details get sent to them along ...
0 votes
2 answers
895 views

How is money transferred between banks? [closed]

Assume there are two separate banks, bank A and bank B. There are also two people: Person A, Person B. They accounts have the following balances: Person A: 400 Person B: 0.00 Person A in order to ...
5 votes
3 answers
5k views

Can "Trustly" be trusted with my bank credentials?

To add money into my PayPal wallet I have to use Trustly. Trustly connects to my bank account and draws the funds from there. In order to connect to my bank account I need to provide them with MY ...
0 votes
1 answer
1k views

Add phone number to Zelle using email

I have a Zelle account tied to one of my email accounts. Someone sent a Zelle payment to my cell phone number. Can I add that as a second way to get funds directed to me or, alternatively can I switch ...
0 votes
1 answer
327 views

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 ...
1 vote
0 answers
206 views

Transferring money from India to US from my Mom

I am an Indian married to an American citizen living in the US, in the waiting phase for my Green Card application decision Process. My husband and I share a joint account here in the US. My mom lives ...
-2 votes
1 answer
211 views

Why does it take up to 20 working days to refund an account after a failed SWIFT transfer?

I attempted a SWIFT transfer from Revolut UAB to Charles Schwab (USA). It failed due to incorrect recipient information. Revolut UAB mentions it takes up to 20 working days for the Revolut UAB to be ...
-3 votes
1 answer
270 views

How can I check what happened to a SWIFT transfer with a party that is neither the originator financial institution nor the beneficiary institution?

I have an account at a financial institution in France and I have an account at a financial institution in the US. I asked my financial institution in France to do a SWIFT transfer from my account ...
1 vote
2 answers
4k views

Can we avoid international money transfer fees by using Venmo or Paypal?

I have clients in Turkey that send me money via international bank transfer. All banks have a swift code that is used for international transfers. The fees charged are in the 70 USD range for the ...
0 votes
1 answer
64 views

Transfer of money between two international euro accounts

I was wondering if it is possible to transfer money electronically between my Finnish Nordea every-day bank account and my French Societe Generale bank account without any fee? I did a test transfer ...
4 votes
1 answer
173 views

What is the "current" way in GnuCash to "park" the money during a bank transfer?

I have multiply accounts which I transfer money between them, based on need. Between accounts from different bank family, the transfer takes normally few days. In this time, the money is already gone ...
1 vote
1 answer
177 views

Are there reporting requirements when transferring money between the US and another country?

Many immigrants in the US face a problem of transferring large amounts of money to and from their home country, usually including currency exchange. As a fact of life, transferring via a financial ...
0 votes
0 answers
92 views

Why it is not possible to set a recurring weekly electronic money transfer to a 3rd party?

I am trying to set up a weekly recurring electronic money transfer (EFT/ACH) order to a 3rd party's checking account. It happens that 6 banks (so far) would not allow that. It seems like my options ...
2 votes
1 answer
920 views

Receiving payments in foreign currency, who sets exchange rate and fees

How do bank accounts receive payments in a foreign currency? Is the 'fee' charged by the account from which the money is being sent, or at the account where the deposit is being received? Which ...
1 vote
2 answers
158 views

Transfer money from German Postbank to USA

I am moving back to USA and need to send my money back to my USA bank. Tried to test send €100. Money never received in USA. Could someone please explain the correct information for these ...
2 votes
1 answer
246 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: ...
3 votes
5 answers
5k views

Why don't unbanked people use cryptocurrency?

I hear a lot about Western Union and associated costs in the context of remittances. Also there are exchange rates anyway, between one currency and another. Also there is inflation and bank fees. Why ...
0 votes
1 answer
139 views

Where do independent digital wallets keep money?

When you cash in to your independent digital wallet, where does the money go? When I say "independent", I mean those digital wallets that are not backed by banks.
0 votes
1 answer
167 views

Can't receive money in NRO

I have maturing LIC policies and PPF which I want to be deposited into my SBINRO account. Other banks and LIC attempted NEFT but it returned back. I also attempted to online transfer INR 500 from ...
-3 votes
1 answer
161 views

Is it possible to make a transfer without the bank knowing? [closed]

I don't know if they approve every transfer, so if not, is it possible?
1 vote
1 answer
213 views

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,...
2 votes
1 answer
4k views

Is it safe to sell with Zelle over a holiday

On 3 July 2020, Friday (while the US was on 4th weekend holiday) I sold a bicycle on Craigslist for $850 - a Zelle 'transfer' to my registered account with Chase bank. Today, 6 July, Monday - it ...
0 votes
1 answer
99 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 ...
3 votes
5 answers
1k views

Does transferring $10 to various bank accounts count as money laundering?

I am making an app that rewards users with real money for using the app. The money comes from the profit I get from ads the user views. Basically, I am sharing my ads profit with my users. However, ...
0 votes
1 answer
259 views

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 ...
1 vote
0 answers
756 views

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 ...
0 votes
2 answers
130 views

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 ...
1 vote
0 answers
106 views

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 ...
1 vote
1 answer
143 views

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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