Australian (ASX) Stock Market Forum

International bank transfers

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I was wondering what is the best/cheapest way to transfer money abroad. I generally send small amounts <$5000 if that makes a difference.
Any suggestions are welcomed.

Does anyone have thoughts on online services i.e. www.xe.com?
 

Glen48

Money can't buy Poverty
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I found xoom.com to be ok all slug you think Western Union are the worst.
 
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Hi, found this post on Twitter, Check out currency brokers, there are many of them around.

I work for one of them. XE is probably the most known, but doesnt mean they will be the most competitive.
 
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On this topic, I have three questions:

1. If I do a telegraphic transfer, and incorrectly write down the account number on the form (and the account does not exist), will I be notified of this at the time I hand over the cash? Or do they just take my cash, do it later and at that time (when I'm well and truly gone) discover the error?

2. I was asked when I did the telegraphic transfer whether I wanted to convert the money here or in the destination country - anyone know the difference?

3. If I do it online, and put in the wrong account number, the money gets taken out of my account but where does it go?
 

Glen48

Money can't buy Poverty
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I had trouble with Xoom sent to wrong address had to send a fax to USA indcluding every swear word I could think of to get a result took about 2 mths to sort.
You can send e mails but is its all some how computerised so you can't get a direct answer.
 
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I had trouble with Xoom sent to wrong address had to send a fax to USA indcluding every swear word I could think of to get a result took about 2 mths to sort.
LOL!

Must've been a significant amount. I just did a small amount to 'test' it. Lucky too, because I got the account number wrong :(

I have told CBA and they will use their "best endeavours" (at a cost of $25) to track it down. But I do wonder where it's gone :confused:
 

Glen48

Money can't buy Poverty
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Trouble is none of them want to chat via e mail and keep sending the same computer generated reply, if you could talk to some one it would save a lot of trouble for both parties.
 

YELNATS

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I was wondering what is the best/cheapest way to transfer money abroad. I generally send small amounts <$5000 if that makes a difference.
Any suggestions are welcomed.

Does anyone have thoughts on online services i.e. www.xe.com?
I have used T/T from my St George Bank cheque account several times over the past few years to send amounts of about A$2000 to my brother-in-law's Singapore bank account.

There's never been a problem and they charge $20 each time. This may not be the cheapest but it works.
 
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I have used T/T from my St George Bank cheque account several times over the past few years to send amounts of about A$2000 to my brother-in-law's Singapore bank account.

There's never been a problem and they charge $20 each time. This may not be the cheapest but it works.
That's pretty good, CBA charges $22 for online and Bank of China charges $33 for counter service.
 
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I think you can send money via paypal.
I haven't sent money, but have used paypal for purchases, no problems whatsoever.
I think you can send money to anyone who has a paypal account and an email address.
I could be wrong but it would be worth checking out.
The I's have it.LOL
 

prawn_86

Mod: Call me Dendrobranchiata
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TD (or anyone),

If you need to send >10k overseas PM me and i can help you out with both price and ease of use. I work for a FX Brokerage
 
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