Money transfer/banking - Page 3

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Money transfer/banking - Page 3


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  #21 (permalink)  
Old 8th September 2019, 10:54 PM
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I fail to understand how a small, low, minimal or reasonable fee compares to zero (0.00). No charges, fees or commission, across the board, what could be better? From money into the Schwab account to pesos in hand from any ATM no charge or commission anywhere, if there is a better system please I'd like to know.
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  #22 (permalink)  
Old 9th September 2019, 08:13 AM
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Quote:
Originally Posted by Gazzalee View Post
I fail to understand how a small, low, minimal or reasonable fee compares to zero (0.00). No charges, fees or commission, across the board, what could be better? From money into the Schwab account to pesos in hand from any ATM no charge or commission anywhere, if there is a better system please I'd like to know.
Wouldn't we all Gazza, I'm all ears. Mostly I watch exchange rates (interbank) that are offered, what my bank or broker offers around the time of a new transaction and also any fee attached, simple maths but I have found for larger sums (say AU 50K and upwards) the broker offers a better deal.

Cheers, Steve.
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  #23 (permalink)  
Old 9th September 2019, 10:41 PM
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Quote:
Originally Posted by bigpearl View Post
Wouldn't we all Gazza, I'm all ears. Mostly I watch exchange rates (interbank) that are offered, what my bank or broker offers around the time of a new transaction and also any fee attached, simple maths but I have found for larger sums (say AU 50K and upwards) the broker offers a better deal.

Cheers, Steve.
Steve,
I follow the interbank rate as well, mostly at xe.com, when the feeling strikes that the USD$ is peak in the short term I'll tap a ATM for my monthly supply of pesos. When the transaction is posted for online viewing it always come out just a small fraction more favorable than the xe rate at the time of the withdrawal. No fees or commission anywhere. I've never had a requirement for any amount approaching 50K so don't know there. At the end of the day it equates to small money but why leave it on the table if you don't need to. For me Schwab is still the best method I've found.
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  #24 (permalink)  
Old 10th September 2019, 07:54 AM
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Visa, and probably Mastercard post their daily worldwide exchange rates online, always a good starting point when looking at the various remittance companies etc.

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Old 11th September 2019, 04:01 AM
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Quote:
Originally Posted by Gazzalee View Post
I fail to understand how a small, low, minimal or reasonable fee compares to zero (0.00). No charges, fees or commission, across the board, what could be better? From money into the Schwab account to pesos in hand from any ATM no charge or commission anywhere, if there is a better system please I'd like to know.
There is a hidden commission in the spread between the exchange rate they give you and the official one. Anything less than about 1% is not bad.

No such thing as a free lunch or as a free banking transaction. It may be hidden in exchange rates or as a minimum deposit that gets a bad interest rate but somehow you help pay for all the staff, infrastructure and high bank executive salaries that support your transaction. I never wonder why my financial advisor loves bank stocks.
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Unread Yesterday, 10:23 AM
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Originally Posted by Tukaram View Post
USAA refunds $15 a month, per account. I only hit it 2 or 3 times a month, but can use savings & checking for 6 transactions if I need to.

The other day I pulled out my monthly allowance - the posted online exchange rate was 52.1, the bank was offering 52.0, the ATM gave me 52.2 Not a bad rate.

Today I got 52.09. Online rate 52.14
Sorry for the late response but requesting point of clarification...Does USAA refund fees from international ATMs or is it strictly for national ATMs?

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  #27 (permalink)  
Unread Yesterday, 10:55 AM
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Smile New Way For Me To Transfer $$

I have been getting my money via ATM from a Schwab account.

Recently I bought a car and needed a lot of cash, so I tried something different. I went through the verification process of my Schwab account with XE, and had them transfer the money to the car dealer's account. I got the instantaneous exchange rate--but the money didn't go into his account for about 10 days. So that's how they make their money, and it's painless for me. I can live with that delay since, after the first delay, the money will be in my account every 30/31 days.

Now all I need is my I-card so I can open a bank account to transfer the money into...

George
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  #28 (permalink)  
Unread Yesterday, 12:49 PM
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Quote:
Originally Posted by bigpearl View Post
Wouldn't we all Gazza, I'm all ears. Mostly I watch exchange rates (interbank) that are offered, what my bank or broker offers around the time of a new transaction and also any fee attached, simple maths but I have found for larger sums (say AU 50K and upwards) the broker offers a better deal.

Cheers, Steve.
I use TransferWise and they are simple to use and offer a good rate equal to XE.com. There is a limit of P500k in a single transaction though. Are you saying that you can transfer AU50K in a single transfer?

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Unread Yesterday, 02:41 PM
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I had both dollar and peso account with BDO when I lived in Tagum City. I only had an acr card when they let me open the accounts. I closed both accounts when I went back to the USA. I wonder if other branches of BDO can retrieve my information and open the accounts again without a hassle? I am coming back there but not in the same area. I will have to get my ACR card again since mine expired.

art

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  #30 (permalink)  
Unread Yesterday, 10:28 PM
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Quote:
Originally Posted by bizwizard View Post
I have been getting my money via ATM from a Schwab account.

Recently I bought a car and needed a lot of cash, so I tried something different. I went through the verification process of my Schwab account with XE, and had them transfer the money to the car dealer's account. I got the instantaneous exchange rate--but the money didn't go into his account for about 10 days. So that's how they make their money, and it's painless for me. I can live with that delay since, after the first delay, the money will be in my account every 30/31 days.

Now all I need is my I-card so I can open a bank account to transfer the money into...

George
bizwizard, I've noticed that money transferred into my Schwab account is held as 'cash on hold' before being fully credited and accessible for 3 or 4 days. Not really an issue as I never need it that quickly. Holding the money for a few days is the only way on the complete transaction chain that I see Schwab can benefit on the deal. No hit on the transaction or exchange rate, zero. So I'm convinced their system works best for my situation.

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