Questions tagged [money-transfer]

Transferring money electronically between accounts.

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93
votes
10answers
78k views

Scam or Real: A woman from Facebook apparently needs my bank account to send money

A woman on Facebook recently contacted my dad. She asked him to get a bank account so she could send him money, and he would send money to her employees (about 12 people), and she would pay him for ...
47
votes
5answers
22k 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
1k views

Transfer Money from My Account in India to my account in the USA

I am an Indian citizen living in the USA. Can I wire transfer money from the my NRO account in India to my checking account in the USA? This money, I originally wire transferred from my checking ...
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
1answer
61k views

Tax implications in India for sending money to India from US

I am planning to transfer around $8K-10K in my parent's bank account(Joint bank a/c) in India . I have read a lot of posts(like Will I have to pay taxes in India when I transfer money from a US bank ...
6
votes
1answer
4k 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
259 views

Tax implications of non-US person family member gifting big amount of money to US resident

Let's say person A is person B's dad. Person A lives in Europe and is not in any way a US citizen/resident etc... Person B is a US resident (is there a difference between citizen and just a resident?)....
81
votes
12answers
35k views

A friend asks me all the time to pick up money for her (Western Union, Moneygram)

A friend of mine trades Bitcoin and often asks me to pick up money for her, i.e., someone sends money to me (on my name) and I just pick it up and give it to my friend. The amounts are usually around $...
34
votes
9answers
13k views

How do you send money when you're not sure it's not a scam?

I've been hunting around for an apartment recently, and along with the countless posts on Craigslist, I found one with a good price but slightly strange story. The poster claims to have been sent to ...
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 ...
8
votes
3answers
4k views

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

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 $...
7
votes
1answer
3k views

How important is the beneficiary field in a bank transfer in the Euro zone?

When doing a bank transfer in Germany (and probably by now other countries that have Euro with IBAN and BIC) you have to give a beneficiary. In German, that is either called Kontoinhaber or ...
5
votes
2answers
324 views

Money transfer to the U.K [closed]

Has anyone used a peer-to-peer option for sending money abroad? I pay a mortgage in the U.K. and am looking at the likes of CurrencyFair or Transferwise to exchange my Euro. Are there any hidden ...
1
vote
1answer
424 views

In Canada, how can I most easily/cheaply send money to a friend online?

I'm moving from Europe to Canada, and considering the high fees for wire transfers (the default, instantaneous, cheap, online method I've always used so far), what is the most economical way to send a ...
1
vote
2answers
666 views

What are the options to transfer USD to CAD from within Canada?

I have a USD account with Bank A in Canada. I have a CAD account with Bank B in Canada. I would like to transfer USD money from Bank A to Bank B as CAD. What are the options available to do this ...
1
vote
2answers
615 views

Transfer money from India to US

I'm an NRI living in US. I want to transfer about 60 Lakhs INR from my NRO account in India to my US bank account. Entire money need not be transferred in one shot. It is fine to transfer it in parts. ...
1
vote
2answers
20k views

Sent wrong payment to right IBAN but wrong SWIFT. What will happen now?

I sent a payment to the incorrect SWIFT but right account number. The money hasn't been received at the other end. What will happen now?
1
vote
1answer
902 views

Can a transfer go through if the IBAN and SWIFT is correct, but the beneficiary name is wrong?

A customer of mine wants to pay me from the usa to my account with N26 bank.N26 Bank is a German online bank with no branches but available to customers in the euro-zone.I opened my account online in ...
38
votes
7answers
11k views

Money transfer scam

I live in Croatia and my family breeds dogs. When we have puppies we list them for sale on a Croatian website similar to eBay. Every once in a while for the past year or two we get a message from a US ...
33
votes
6answers
8k views

What risks are there acting as a broker between PayPal and electronic bank transfers?

I have a company offering a position as a transaction representative, they're located in Poland and say they can't take direct payments or use Paypal due to "money amount limits" on Paypal there. ...
6
votes
4answers
27k views

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

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. ...
4
votes
2answers
2k views

Can I be arrested for not returning money someone else deposited in my bank account?

Someone sent me a check willingly for $4800 and now they want it back because I refused to send it to other people after it was sent in fear of me being involved in crime. And said I scammed them and ...
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 ...
22
votes
4answers
6k views

High conversion fee for failed bank transfer

I asked my Swedish bank to transfer to my UK bank 50,000 euros through a SEPA payment. Unfortunately, the IBAN and BIC were old and no longer in use and the UK bank returned the money the same day, i....
9
votes
1answer
14k views

Why doesn't Bank of America or Wells Fargo have free ACH push or pull funds transfer?

Using my credit union's account I can do free ACH push or pull from both of my Bank of America or Wells Fargo checking accounts. However, I was wondering why doesn't Bank of America or Wells Fargo ...
7
votes
2answers
3k 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 ...
4
votes
2answers
2k views

Do IBANs have error correction built in?

I recently became the bursar of my sports club. My most frequent duty is to make payments. I get a bill, usually on a piece of paper, log in into our bank's online banking interface, and make a SEPA ...
3
votes
1answer
1k views

Transferring money from Indian NRE account to UK

I am an Indian citizen with permanent resident status in the UK and I need to get some money from India to UK to purchase a property. My father will be gifting me the money and he has the money in his ...
2
votes
0answers
25 views

tools/means to money transfer from India to USA legally [duplicate]

I see questions Legality and transfer for EB5, but does not answer on how to do the money transfer from India to USA. For USA to India transfer there are many websites/and Bank. I left India about ...
2
votes
3answers
14k views

How to send money from my Indian bank account/debit card to my PayPal account?

I have a verified PayPal account which I'm using for the last 3-4 yrs. I want to buy a book from a web site, but PayPal is the only option listed for payment. I have money in my bank account, but I ...
1
vote
2answers
1k views

What are possible ways to transfer money from India to other countries and getting transferred from other countries to India?

Lets assume I want to send huge amount of money (in millions) from India to other country say United States and vice-versa and to be specific transferring online.
1
vote
1answer
580 views

Why can't poor countries just print more money? [closed]

I know this is a really silly question that is really obvious, but what's stopping a country from just printing out a few more billion of their own currency and then using that money to buy goods from ...
1
vote
1answer
38k views

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

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
2k views

Transfering money from NRE account in India to family member

I am a US citizen and I want to transfer some amount 10 lakhs+ to my brother from my NRE account in India to his account. My brother is going to purchase something for his business. He is going to ...
0
votes
1answer
709 views

transferring money from India to USA [duplicate]

i saw multiple questions dealing with the topic. But they were bit old and i would like to ensure that there hasnt been any rule changes My parents are Indian citizens and they have bank account in ...
0
votes
1answer
108 views

Paying first month's rent using a personal check/money order (international graduate student)

I will be moving from Lahore, Pakistan to Manhattan, Kansas in August to start attending graduate school. The leasing manager at my apartment complex informed me the following: "The first payment ...
0
votes
1answer
60 views

Looking for cheap international bank to bank transfer in USD [closed]

I would like to transfer money from US bank account to a foreign (Poland) USD bank account. So no currency exchange involved. It seems that most services assume the currency exchange. The sites of the ...
0
votes
1answer
147 views

Safe and cheap way to send money from Canada to South America [closed]

Does anyone knows how to send money from Canada to a country in South America in a safe and cheap way? In the past I transfered from my bank account here in Canada to a South American bank account ...
0
votes
1answer
412 views

Can a transfer go through if the IBAN and SWIFT is correct, but the address and country of the bank is wrong?

A customer of mine wants to pay me from the usa to my account with N26 bank.N26 Bank is a German online bank with no branches but available to customers in the euro-zone.I opened my account online in ...
-3
votes
1answer
493 views

Is this a scam or not a scam?

I received the below email. Is is a scam or not a scam? Attention: Mohamed Atef, May the peace of the Lord be with you. Yes He left an ATM/VISA CARD with me before he traveled out of the ...