Transferring USD to Personal/Online Toastmasters Club

brisdaz on 27/12/2018 - 20:40
Last edited 27/12/2018 - 20:43

I wish to transfer my club dues to an American. They accept PayPal and cheque. However PayPal has higher fees and terrible exchange rate and cheque is too inconvenient. The amount is around $90USD for 1 year's worth of club dues but there's around 60+ people who've paid via Paypal so at saving of around $6USD or $10AUD it's around $600AUD worth of savings.

I was thinking of using Transferwise. As if the USA person/club accepts paypal or cheque then there must be a checking bank account behind it. However the club/usa person think's it's too much administrative burden or hassle. He doesn't want another account.

It seems USA is not familiar/comfortable with electronic funds transfer. Also it may be easier to conduct fraud with the banking account details - If someone has my account and routing number, how can they take money from my account? - Quora and Is it safe to give your bank account number and routing number out? Or can theft or fraud happen? - Quora?

However when I accepted a Transferwise payment (see Bank transfer from NZD to AUD (New Zealand to Australia)) I didn't need to create a Transferwise account. It just landed in my bank account. The sender did all the data entry.

Thanks.

Financial

Comments

  • Sirlofty on 27/12/2018 - 22:27
    +1

    If you have a 28 degrees card, use that with paypal and use the 28 degrees exchange rate. Send with friends and family to save fees.

    • brisdaz on 28/12/2018 - 06:49

      Thanks for the reply.

      I do have a 28 degrees card and could use it but there is a higher fee for the receiver to receive it. If I was to use this option I'd probably use my Citibank debit MasterCard, especially since sending using the friends and family option negate any chargeback protection.

  • bpop99 on 27/12/2018 - 22:35

    As a former treasurer in a toastmasters club, i'd suggest getting a member to use his/her credit card to pay the dues. It was usually the treasurer but could be anyone else nominated who was trusted to make the payment, which was then reimbursed. Its important to note that transferring to someone is not recommended unless you absolutely know and trust them. However, rates with credit cards today are fairly alright, though some may charge some amount of foreign currency exchange fee. If a member is not possible, find a trusted friend or family in this situation or go with a debit card (which may have lower rates than paypal)

    • brisdaz on 28/12/2018 - 06:55

      Thanks for the reply.

      You've slightly misunderstood what I meant to communicate. I'm paying the US based club treasurer and not Toastmaster International direct the club dues (small due to subscribing to Zoom and PayPal fees) and Toastmaster International fees. Therefore there is no credit card facility without the club being charged some fees.

      Whilst I don't absolutely know and trust them the toastmaster website has been up for several weeks to months with consistent email address. And the headers say it's SSL encrypted via gmail.com. So yes I'm prepared to risk it

      • SBOB on 28/12/2018 - 08:44

        Seems like a hell of a risk to save a essentially a few bucks a person on a transfer of over 6k.

        • brisdaz on 28/12/2018 - 08:46

          It's not a transfer of over 6k but under 80USD per person.

          • SBOB on 28/12/2018 - 08:48

            @brisdaz: Times 60 people… Which is…..

            Paying the fees direct, with a cc with zero international fees, means what.. You pay a couple percent toastmaster cc processing fee…

            Seems risky to to go via some middle man (and I'd be suprised if the cc fees would be 10 bucks..)

  • easternculture on 28/12/2018 - 00:56

    I have some PayPal USD balance

    Happy to help out

    • brisdaz on 28/12/2018 - 07:06

      Thanks easternculture for the offer.

      Is it a US Based PayPal account? Because if not receiver will still have fees to receive it otherwise as far as I know since it's an international transaction.

      As I said above I have a Citibank debit card which would probably be the best alternative for me, the club and toastmasters international (but not PayPal :P ). This alternative would be better for other prospective Australian members as well.

      • easternculture on 28/12/2018 - 11:08
        -1

        Aussie account with US balance

        Can send family and freinds to them

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