Questions tagged [money-transfer]

Transferring money electronically between accounts.

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0 votes
1 answer
135 views

Strategies to guarantee arrival time for transfers between banks

I would like to set up a recurring transfer that is guaranteed to arrive at its destination by a certain date. Example A recurring transfer is delivered from Online Savings Account 123 to Checking ...
6 votes
2 answers
2k views

Why can we cancel cheques, but not Western Union transfers?

I saw this thread: What should I do if I lost money in a scam? and one of the comments remarked it may be a double-con, where the real scammer has talked one victim into opening a bank account to ...
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1 vote
0 answers
117 views

what constitutes a 24 hour period for ACH transfers?

My bank limits me to a 50K ACH transfer in a day. Is a day 24 hours from the time I scheduled the transfer? Or from the time of the scheduled delivery?
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1 vote
1 answer
346 views

How to SWIFT transfer USD to an overseas bank receiving in USD from Australia without double fx conversion?

Say, I have some USD cash ~$2K. I want to transfer it to an overseas USD bank account in USD (must be SWIFT). However an Ozzi bank will make me first convert USD cash in AUD, then deposit into my ...
2 votes
1 answer
481 views

Sending money, Western Union, for an acquaintance - is this safe?

A friend of mine asked if I could send some money to their family for them (in another country), via Western Union, using my name and address. They would give me the cash, and I would simply send the ...
1 vote
2 answers
48k 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?
0 votes
1 answer
869 views

Unable to receive money from MoneyGram

I'm an Indian citizen and last time my Australian friend had sent me some cash through money gram. But I was unable to withdraw. MoneyGram said that the person sending money should also be an Indian....
0 votes
1 answer
739 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 votes
1 answer
119 views

why the currency data(such as USD/JPY) is different from different source

I am a new guy to finance. I found that the currency rates for USD/JPY or CNY/JPY have slightly different from different source. For example: USD/JPY 2017/07/10 (1) 114.08: https://www.oanda.com/...
1 vote
1 answer
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 ...
3 votes
2 answers
2k views

How can I buy USD or convert INR to USD, having INR in my bank account and end up having USD in my bank account?

I have INR (Indian Rupees) in my bank account and I wish to convert INR to USD and keep my money in USD in my bank account so that I can transfer amount in USD to US account to avoid more commission ...
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0 votes
1 answer
176 views

Where can I find out details about the actual network on which SWIFT banking works?

What I'm primarily interested in: finding out whether Bank A in Country X has a direct SWIFT connection to Bank B in Country Y, or does it compulsorily have to go through Bank C in some country? I've ...
0 votes
2 answers
355 views

Transfer to Bank of America from Australia

I made an online transfer to Bank of America from Australia. The SWIFT code, routing number, name and address of the receiver are correct. However, I made a mistake in one digit of the account number. ...
1 vote
1 answer
431 views

How do credit card network companies transfer funds between banks [closed]

I am currently writing my Bachelor thesis on electronic payment systems and I began without any previous knowledge, since I study computer science. So I started to read "Payment System Technologies ...
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2 votes
1 answer
250 views

Tax on remittances from UAE to India

My son is working for a company in the UAE. His salary is paid there in AED and every month he transfers some money to his mother's account in SBI. Does my wife have to pay tax on that?
4 votes
2 answers
693 views

If I transfer money between my accounts - will I get any fees for the transfer? What is the difference between ACH and wire?

I transferred money few times between my checking accounts in different banks (Capital One, Ally, Chase, BoA etc). I did not see any fees taken yet and I am not sure if any will be. I checked fees for ...
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3 votes
1 answer
220 views

Where does this money go?

Suppose the current rate of USD vs Rupee is $1 = 64.23 INR. My friend from India transfers 100 INR to me, which means I should receive $1.556904873. But I, I assume, receive only $1.55(Let me know if ...
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11 votes
1 answer
3k views

Should the bank cover money lost due to an unsuccessful transfer?

Recently I have transferred money from Deutsche Bank, Germany to Standard chartered Bank, India. My transaction was not successful due to an Indian Government policy change for demonetization. The ...
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0 votes
1 answer
76 views

What is Deutsche Bank "Free Order"?

Want to transfer Canadian dollars to German DB bank in without converting to Euro. Idea is to wait with the exchange till the time when exchange rate is more favorable to Canadian dollars. I was told ...
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1 vote
1 answer
167 views

Virtual Terminal WITHOUT merchant account? [closed]

Is there any such thing as access to the credit/debit/prepaid cards (issued worldwide) online charging Virtual Terminal without having to be approved for merchant account? So without owning it. I ...
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11 votes
6 answers
9k views

Can I use a credit card in an ATM to withdraw cash?

Can anyone tell me whether or not credit cards issued within the USA can be used in ATMs in the USA for the purpose of withdrawing cash? Or can only debit cards be used? If credit cards can be used, ...
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-1 votes
1 answer
584 views

Difference between a returned versus declined transaction?

Is there a legal or industry standard for the definition of a "returned" transaction? I recently had my Empire District electric bill auto-payment declined, and the electric company charged me a $20 "...
6 votes
6 answers
603 views

If I carry a lot of money from Germany to Spain, what can go wrong?

Currently I have a bank account at Deutsche Bank with approximately 30k€ I have collected working and saving money. I want to move all this money to my Spanish bank account. I have already phoned them ...
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1 vote
1 answer
248 views

International money transfer taxes

I was wondering if transferring a significant amount of money from my Japanese bank account to my Canadian bank account would ring some alarms somewhere. I already paid more than my share of taxes in ...
2 votes
2 answers
188 views

Efficient International money transfer

I have been living and working in Japan for a few years and have accumulated a sizable amount of money(about 100k$ worth) in a Japanese bank account(Yen currency). I am now about to go back to live in ...
1 vote
1 answer
483 views

Money transfer from India to Dubai

I have to go back to India due to job loss and have to repay my bank loan in Dubai. How can I transfer money from my savings account to my bank in Dubai?
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5 votes
3 answers
1k views

Is it legal to receive money out of the blue?

I was reading a question and answers about a classical scam. The modus operandi is clear. It made me wonder about the legality of receiving money out of nowhere on my account. How legal is that? (in ...
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4 votes
3 answers
1k views

Will I have to pay taxes for Australia if I have an Australian bank account?

I live in New Zealand. I'm doing freelance work for an Australian company. They are not very open-minded in relation to new transfer money methods, they only do it with PayPal or international money ...
  • 157
0 votes
1 answer
139 views

Taxing money sent to a relative to buy property in my name in India

I am an NRI in the US. I sent some money to buy property in India. The money was sent from my US bank to my father in India. After 3 years, my father received a note from the income tax dept. asking ...
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-1 votes
1 answer
128 views

Can I limit transactions to the cash available in my Square Cash account?

I need to set up a "credit card" that has a limited balance that I can reload, for use online. I understand that I can crate a limited balance card for online use with several services (such as ...
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-4 votes
2 answers
8k views

Someone wants to use my credit card to put money in? Is it scam?

Someone I know wants to borrow my card and they said they can turn £2,000 into £4,000. They send they will talk the details and I will have to take all my money out. Then they deposit £2,000 in my ...
0 votes
1 answer
271 views

How to send money to a friend in Europe? [closed]

It's my first question on this website. Please guide me through the steps to send 143-150 Euros to a friend who is in urgent need. Some details: I have my bank account in India, my credit and ...
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1 vote
1 answer
67 views

Regarding transfer of money

My daughter is staying in Singapore after marriage, with her husband (working there for four years) studied and is in job (more than one year). My son is to shift to Australia to pursue his MS course. ...
1 vote
1 answer
2k views

How does Wells Fargo verify bank accounts instantly for transfer?

I think every bank I've seen requires either (1) 2 trial deposits, or (2) an online user ID + password to verify your ownership of an external account for the purposes of transferring money. However, ...
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3 votes
2 answers
3k views

What options do I have to transfer money to UK

Some Background I have been working full time in UK for last 5 years and had been sending my savings through different means e.g. western union, taking with me while flying(undeclared as they were ...
1 vote
1 answer
270 views

Debit Card vs. Bank Account Number (USA)?

I currently have in my possession physical debit card. Don't have my personal bank account number (both USA). I know it can be found online, on physical cheques, welcome material, statements but I ...
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1 vote
1 answer
2k views

Are there any legal or tax issues for an international student receiving a gift via wire transfer?

I am an international student in the USA. I have a friend in UAE, he wants to send me money to cover my tuition cost ~$2500.00. He is planning to send it through the Western Union or Money gram. Do I ...
  • 11
1 vote
2 answers
607 views

If a bank has a transfer limit, what happens if another bank pushes/pulls more than that?

If bank B has a transfer limit of $N, whereas bank A has a transfer limit that is higher, what happens if bank A attempts to withdraw from an account in bank B more than > $N in one transaction? ...
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6 votes
1 answer
2k 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 ...
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1 vote
1 answer
3k 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 ...
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2 votes
1 answer
2k 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
5 answers
580 views

My university has tranfered me money by mistake, and wants me to transfer it back

I am a PhD student. I have a scholarship, which pays out a stipend each fortnight -- it is not employment. Sometimes the university might transfer me money as reimbursement. Sometimes, separately to ...
3 votes
1 answer
91 views

Can my U.S. company do work for a foreign company and get wire transfers to my personal account?

I am thinking of setting up U.S.-based consulting business & thinking of doing work for a company based out of China. I would be handling the majority of the work in the U.S. and it may possibly ...
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2 votes
4 answers
5k views

Is this considered structuring?

If a friend is depositing (transferring) cash into my bank account in parts, is that considered structuring? To be more specific, he is waiting on specific amounts and deposits whatever is on hand. ...
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1 vote
1 answer
196 views

Can I send a money order from USPS as a business?

I own a small business, and a contractor I hired asked to be paid through money order for services rendered. Can I send a money order to him under my business? For instance, From: My business name ...
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1 vote
2 answers
1k 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 ...
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2 votes
2 answers
156 views

How to get money (cash) with minimal fees from Europe (Pounds, Euros, Paypal) to South East asia

I have some investments that will be generating revenue in Pounds (UK banks), Euros (Holland, Lithuania) and PayPal. I am planning on doing a lot of travel in South East Asia (Thailand, Vietnam, Laos,...
38 votes
7 answers
12k 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 ...
6 votes
3 answers
8k 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 ...
2 votes
1 answer
923 views

In India, if I transfer money to my parents and they transfer it to their nephew, will it be taxable for my cousin?

I know the money isn't taxable when I send it to my parents and they send it to their nephew as it will count as a gift coming in at both places But if this is done sequentially and soon one after ...
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