Questions tagged [wire-transfer]
a mechanism to electronically transfer funds from one account to another account. Generally used to cross-border transfer, i.e. moving money between accounts located in 2 different countries.
199
questions
-1
votes
1
answer
393
views
Gifted money invested without tax?
If I gift $10k to my parents (parents are indian citizens, so am I) in India, and they use it to invest. Will that investment be taxed in USA? Taxed in india if kept long term? Is this a tax loop-hole ...
- 249
2
votes
1
answer
253
views
FBAR needed if I wire transfer in installments?
Lets say I want to send $24000 to my parents account in India from USA. I will first transfer in NRE account. Then move money from NRE into my parents account. If I send $8000 to NRE, move it into ...
- 249
4
votes
1
answer
694
views
Filing FBAR if I wire transfer to my parents Account?
Do I need to file FBAR if I send $25000 to my fathers account in India?
- 249
0
votes
0
answers
160
views
Multiple serious delays wiring money to the US from Singapore
I have encountered a number of difficulties wiring money to a relative studying in the US. I have used DBS Singapore, POSB and Maybank Singapore to wire money, but have encountered multiple delays ...
- 1
4
votes
3
answers
7k
views
Offshore bank account with online International wire-transfer facility for Indians [closed]
I am a freelancer having Indian nationality and residing in India.
I own and operate Sub-Affiliate program of US based company.
I have bank accounts in India which operates in INR (Indian Currency).
...
- 43
1
vote
1
answer
5k
views
How much maximum money can transfer on regular base from USA to India?
I have 3 questions to avoid IRS penalty-
I am on employment based visa in USA and want to send dollars from USA to India from my savings (after paying Tax). How much maximum dollars I can send in a ...
- 11
2
votes
0
answers
8k
views
How to transfer funds online from a Canadian CIBC account to RBC instantly?
I thought Interac transfer is instant but my mom wants to send me money from her CIBC account but she said it takes 2-3 business days? What method can be used to transfer from a CIBC checking to a ...
- 361
4
votes
6
answers
91k
views
International wire transfer without SWIFT code
My credit union (ENT FCU) claims no SWIFT code is required to receive funds with international wire transfer, just their routing number...
I am not an expert but I thought SWIFT code is required for ...
- 217
3
votes
1
answer
3k
views
Do I need to file reports when transferring money to US?
I have saving account in the country of my citizenship. After moving to US and get permanent residency, I want to transfer money (> 10,000, after-taxed, not business or gift) from my saving account to ...
- 175
3
votes
1
answer
44k
views
What is the meaning of "advice confirms" in a bank statement?
I got some money transferred from a company in the USA to my UK bank (HSBC) account and I found that it is listed as "advice confirms" in the bank statement record online.
What does this mean?
- 322
7
votes
1
answer
888
views
Sending money to Russia for family back home
I have a family member that needs a medical operation back home in Russia, the total cost of which is 30k.
I have heard that I can give 10k as a gift in cash for my aunt to take on the plane.
For ...
- 173
1
vote
0
answers
140
views
Why are checks preferred to wire transfers in the US? [duplicate]
When moving to the US from Switzerland, I have been surprised by the difference in banking systems. One point that interests me particularly is the use of checks vs wire transfers.
In Switzerland, ...
- 111
3
votes
0
answers
79
views
What is the SEPA optional category?
When I'm writing a wire transfer (both with my personal and with my company's accounts), my bank allows me to enter "optional SEPA fields", most of them look redundant or useless, but one is a bit ...
- 193
13
votes
4
answers
125k
views
What Canadian account number format do European banks need for wire transfer instructions?
I am trying to transfer funds from my account in Europe to my account in Canada. On the sending (European) bank's transfer instruction form there is a field I need to fill-in in the beneficiary's ...
- 461
1
vote
2
answers
3k
views
Transfer money from foreign account to Indian bank account?
I wanted to know if it is advisable to transfer money from USA based accounts to an NRE or NRO account in India? Are any of them liable to tax in India or USA ?
I am planning to use western union.
...
- 39
1
vote
1
answer
2k
views
What information is needed for a wire transfer?
I am used to wiring funds through SEPA by using IBAN and BIC codes. I just learned that these can't be used to electronically transfer money from the US to the EU.
My bank provided me with 4 codes:
...
- 349
0
votes
1
answer
360
views
Money transfer from US to Israel
My boyfriend from Israel was planning on moving to the states to live with me. He brought about $10,000 here last time he came. He is now back in Israel and we decided he was not going to move here. ...
2
votes
4
answers
5k
views
Cheapest way to wire or withdraw money from US account while living in Europe [closed]
I'm currently living overseas in Europe. I work as a consultant for a US based company which pays me US dollars deposited to my US bank account. It's getting to be pretty expensive when I withdraw ...
- 123
1
vote
2
answers
854
views
Is it possible to transfer money from UK bank account to Egypt bank account?
I am working currently in UK and my HSBC uk bank told me that it is not possible to transfer from/to egypt any money, so is that really true? and what other ways I can do so?
- 322
2
votes
1
answer
1k
views
How to receive dividend in INDIA
I have shares of City Union bank for more than a year. I have my trading account with HDFC Securities linked with my HDFC bank account. City union bank has announced dividend and I have not received ...
- 237
10
votes
3
answers
10k
views
Should I pay rent electronically?
I'm renting an apartment from an individual. The landlord and I discussed the possibility of paying rent electronically. My bank (BofA) has some kind of electronic payment option where I'd enter the ...
- 531
6
votes
1
answer
153k
views
What information do you need to provide for a domestic wire transfer?
I need to provide details to receive a domestic wire transfer to my US-based bank from another US-based bank. What details do I need to provide?
This Yahoo! Answers questions suggests that the ...
- 163
2
votes
2
answers
2k
views
How different are exchange rates for major banks on a given day?
I'm based in the U.S., and have an overseas client that pays me via wire transfer.
I understand that the incoming exchange rate used by a bank will always be lower than the rate quoted on Google, but ...
- 123
2
votes
1
answer
88
views
Must banks in both countries be open for business in order for send a SWIFT/ international money wire?
If Bank A resides in a country where banks are open for business and Bank B resides in a country where it is either a weekend or a holiday, could Bank A still initiate a SWIFT transaction to send ...
- 154
1
vote
1
answer
472
views
Transferring money to Indian private bank
I work for a friend overseas who want to pay me through SKRILL (MONEYBOOKERS - PAYPAL like service) in USD. I would have my Moneybookers account linked to my Savings Bank Account in a private indian ...
- 111
2
votes
1
answer
5k
views
International wire transfer gone astray
Someone in another country has attempted a wire transfer to my account here in the UK. The wire transfer form, of which I have a copy, shows that my IBAN (international account number) is correct, and ...
- 365
1
vote
1
answer
774
views
Is EUR/USD exchange rate usually unstable after a weekend?
Is it risky to initiate a wire transfer that includes currency conversion from USD to EUR during a weekend because of a volatile Mondays exchange rates?
- 133
2
votes
1
answer
616
views
How to properly understand international wire transfers?
I am having a ridiculous time with international (inwards, to Australian account) wire transfers. They have about a 50% chance of succeeding, and I don't know who is being honest with me when things ...
- 21
16
votes
3
answers
5k
views
Why are wire transfers and other financial services in Canada so much more expensive than in Europe?
Why are wire transfers in Canada so expensive compared to Europe? The simple answer I've seen is because bankers are crooks, but I find that this oversimplifies the situation — I don't believe ...
- 3,203
3
votes
1
answer
147
views
Receiving important daily wires from abroad?
I am an international student in Canada and I will be receiving frequent wire transfers from Europe (+10K). I was wondering if this will cause problems with my bank. The money is coming from a ...
- 31
4
votes
1
answer
25k
views
Do charges made accidentally to the wrong name still get processed?
I have an online shop where I use a payment gateway to process credit card payment.
When requesting the payment, I entered my company name in the "Bank Account Holder Name" instead of my personal ...
- 141
8
votes
4
answers
69k
views
Do we need to provide correspondent bank information for wire transfers?
I have some bank accounts with international banks like SC/HSBC/Citi.
Here is the template which they provide for international wire transfers.
Is it necessary to provide Correspondent Bank info to ...
1
vote
1
answer
2k
views
Can I receive payments (EUROS) from my International clients in my savings bank account in India for my business services
I am starting a small international outbound sales campaign and will be selling my web development services. 100% payment will be received in Euros through wire transfers in a bank account or through ...
- 11
4
votes
2
answers
11k
views
Can wire transfers be reversed? Is there a law or regulation providing for it?
Can wire transfers be reversed? Is this codified into United States or International regulation/law anywhere?
3
votes
3
answers
41k
views
How can I pay a vendor using a wire transfer from my credit card?
How can I make a payment to a vendor that only accepts bank transfers from my credit card, paypal, money bookers, or a similar service? I'd like to do this completely online, without going to the bank....
- 133
5
votes
1
answer
3k
views
Do I have to pay taxes on money sent to me in the US by wire transfer from another country?
I have a green card and I live in the US. I'm starting to do business with people in Vietnam, and they transfer money to my checking account using wire transfers from banks in Hong Kong or Cambodia. ...
- 51
6
votes
1
answer
3k
views
How do banks prevent fraud in international wire transfers?
How does the international banking system prevent fraud in wire transfers? Specifically suppose a wire transfer from a bank in China to a bank in the United States is done. How does the bank in the ...
- 285
2
votes
1
answer
832
views
When a merchant accepts bank wire transfers, how does the merchant know who has wired him the money?
When a merchant accepts bank wire transfers, how does the merchant know which customer wired him the money and how much money the customer paid?
For example, when I'm funding payza.com, entropay.com ...
- 123
2
votes
1
answer
390
views
FBAR semantical issue
From my understanding, the US Treasury's Foreign Bank Account Report (FBAR) is supposed to be filed if a US person - natural or artificial - holds over $10,000 in a foreign bank account at any point ...
- 20.2k
3
votes
3
answers
19k
views
I specified the wrong IBAN number when transferring money to a UK bank. How can I correct this?
I transferred money to a UK bank from outside of the UK, but I specified the IBAN number for an individual by mistake. The bank transferred the money to the individual instead of the bank, even though ...
- 31
14
votes
1
answer
24k
views
How do wire transfers get settled?
Say I open accounts at Bank A and Bank B. I deposit $20 in Bank A. I then initiate a wire transfer to my account in Bank B. I drive over to Bank B and withdraw $20.
Bank A now has $20 extra physical ...
- 243
2
votes
1
answer
3k
views
Overseas fund transfer by certified check
I work as a freelance web developer/designer residing in India. Recently I finalized a deal with a client in Jacksonville, FL for a web design contract which involves a weekly payment.
The problem is ...
- 21
6
votes
4
answers
25k
views
Is there any US bank that does not charge for incoming wire transfers? [closed]
I use CurrencyFair to exchange currency between EUR and USD. I was surprised to see a $10 wire transfer fee at the end of the chain when CurrencyFair transfered from their BofA account to my BofA ...
1
vote
1
answer
398
views
International Wire from Brazil to Puerto Rico
My husband has a side company that has its HQ in Puerto Rico. The company closed a contract in Brazil and was told they are wiring the funds to Puerto Rico. I was told that Homeland Security has the "...
- 11
20
votes
10
answers
34k
views
How can I avoid international wire fees or currency transfer fees?
I'm paid by an American company, but travel to France frequently and need to have a French bank account for various reasons. So far the cheapest procedure I've found to transfer money is
withdraw ...
- 343
8
votes
3
answers
55k
views
What is a maximum amount that I can wire transfer out of US?
Say, I would like to buy a property in Thailand. The price is about $200,000. I might wire it to my Thailand's checking account. Just want to know is the limitation of wire transfer.
Also, is there ...
12
votes
2
answers
8k
views
What's the difference between wire transfer and ACH?
My sponsors have two ways to transfer money. I wonder what's the difference?
- 1,053
0
votes
2
answers
4k
views
Do I have to pay a bank to release funds to my account or should they deduct what they need from the amount?
My girlfriend wants to transfer her inheritance of 1,000,000.00 from her bank in the United Kingdom to my account in the United States. Her bank says I need to send $9,600.00 to them; they said that ...
3
votes
4
answers
8k
views
Best bank without incoming wire transfer fees, for receiving money regularly? [duplicate]
I'm going to be receiving monthly wire transfers, and I found out that my bank (US Bank) charges $20 for each one. Are there any good banks that don't charge for incoming wire transfers?
- 1,165