I currently use western union online but their fees are crazy.
to send AUD100 I am being charged $22.
what other alternatives are there?
Im sending the money to Asia so the facilities are limited.
Does anyone send money overseas on a monthly basis?
Sending Money Overseas
ediot123 on 10/08/2010 - 16:06
Comments
if they country is listed you can try Pennytel.com (they use Westpac) $8/transaction & VOIP credits too. They've got no free promo at the moment for China, UK, India, Italy, Phillipines, Singapore and Thailand
Im sending money to Laos
For some reason they are charging more to send here than Thailand and/or Vietnam. Even though they are neighbouring countries
That'll be because Laos doesn't have a large competitive banking system like it's neighbours.
I just check with Pennytel it's $8/transfer (the currency will be $us)
Here's some reading on the Laos banks. You might be able to use a local Thai bank to transfer through.
http://www.retire-asia.com/lao-bank.shtml
open an Transaction citibank account (it is fee), and transfer to any citibank any where in the world for FREE.
Hope this helps
Do you mean that the citibank transaction account has no monthly fee?
[Edit] Btw, ozkish, do you know if citibank charges you a fee for transferring money from the citibank to other banks in Australia?
[Edit] Btw, ozkish, do you know if citibank charges you a fee for transferring money from the citibank to other banks in Australia?
No they dont.
Citibank is no different to any other bankAre you sure about that anthony? Was it based on your own experience?
I read the document here:
http://citibank.com.au/global_docs/pdf/Feesandcharges.pdf
It says that there is a $10 fee when you transfer funds in AUD from your Citibank Australia Account to another bank account in Australia.@leiiv: Yes i am sure.
You are looking at a telegraphic transfer (or wire transfer), not a regular deposit.A telegraphic transfer is completely different to a normal electronic deposit (that you are familiar with) of money into a different bank account.
Telegraphic transfers also deposit the money instantly into the receivers account
Paypal? I am not sure about withdrawal though.
My partner used to transfer money from his HSBC account in Australia to his HSBC UK account for a smaller fee ($9?) than it would cost to do a transfer to another overseas bank. Not sure if it is the same for Asia.
get yourself a wizard credit card or a nab gold visa debit card and top it up with cash and then send a an additional card holder a card that way they can make cash withdrawals at an atm fee free. accept for now most Thai ATM's charge a fee on foreign cards. still trying to find a way to avoid this 150 thai baht fee apart from doing a cash advance in the branch. only other cheap options im aware of would be paypal but they charge a little for currency conversions and its not instant transfer to your local bank account. citibank only offer free transfers to some countries not Laos or Thailand. correct me if im wrong?
+1 for this.. free withdrawls
Aside from using citibank (which will be the cheapest option) ask your bank about a "wire transfer"
Thanks for the response guys.
What if you are planning on travelling overseas. Somewhere they only accept cash in most places.
What is the best way to bring money overseas (electronically of course) without being charged a whole heap in bank fees for withdrawals.
When I went to do my passport Auspost had "Visa passports". They said it will only cost you about $3 for each transaction??
Anyone know about this or know of better options.
Those “Visa passports” are the same as a travelex currency card, commonwealth bank also offers the same thing called something else.
I dont think they are very good as the fees for putting currency in and taking it out out are quite high.The cheapest option is to take cash away with you as there are no ongoing fees, it is all i ever do when i travel.
The next best thing would be the Wizzard clear advantage card as someone already mentioned http://wizardclearadvantage.com.au/
They do not charge you any fees themselves for international transactions and the exchange rate they offer is very good (it is normally very close to the market rate)
What you do is treat the card like a debit card, before you go on holidays you put money into the card so when you take money out it is not a cash advance.
You can still use the card as a credit card just make sure you keep a positive balance so any cash you withdraw is your own and not a cash advanceI second the Wizard Mastercard. I wouldn't travel OS without it.
Just take some $au as backup (don't bother with $us unless it's the local currency). Never change cash @ the airport. Check travel forum to find out about local ATM fees.
It's pretty unusual to visit a country that doesn't have ATMs, at least into the capital. Which country/countries are you off to?
Travelling to Laos
There are ATMs but only in the city.
I will be in the country side most of the time
But will be travelling into the city every now and then
Check the local banks in your country (in asia). They might have better way. If you specify the country may be more people will share their findings.
pennytel got pennytransfer - they may be cheaper then westernunion if you are ready for the complex procedures.