Question
I'm new here and I was wondering if anyone can help with a problem I've been having for a while now. I have to receive some money from a relative of mine who works in another country and I was wondering about a cheap and effective way of getting them. He's already ruled out Western Union because of their high fees. Can anyone suggest something else please? Thanks in advance.
P.S. I apologize if I posted this in the wrong category, but it seemed appropriate enough. If so, I don't have any problems if the moderator decides to move it in a more suitable category. Thanks for understanding.
Answer
Open a bank account at that country and sent ATM card to you. Use ATM to withdraw money with such as star system ...
I'm new here and I was wondering if anyone can help with a problem I've been having for a while now. I have to receive some money from a relative of mine who works in another country and I was wondering about a cheap and effective way of getting them. He's already ruled out Western Union because of their high fees. Can anyone suggest something else please? Thanks in advance.
P.S. I apologize if I posted this in the wrong category, but it seemed appropriate enough. If so, I don't have any problems if the moderator decides to move it in a more suitable category. Thanks for understanding.
Answer
Tried it already, I couldn't do it. Maybe because I'm not from the same country, or because I'm from Eastern Europe they won't trust me or something like that. Right now I'm looking at some on-line options, so far I've come up with moneybookers, ikobo and xoom. I'll look some more into these options and see how it goes. If anyone has anymore suggestions or tips they are more than welcome.
Thanks for your suggestion anyway yyyccclll. Appreciate the help, please keep 'em coming. :)
Answer
Hi. I saw your thread and I am in the same situation as you are. I tried those services you mentioned in your early posts and I think ikobo is my first choice. It has low fees and it's coverage is all over Europe (in fact it has 170 countries). I will try to sign-up and keep you posted. If you found and tried other payment systems please share with us your experience. Thanks.
Answer
Ok, you do that and we'll see where we are from there. I appreciate the fact you're helping me out, I'm sure you're also helping out yourself ;) but still, thanks. I just hope some more members would join in to discuss this matter.
Answer
why not use paypal.com?
Ric
Answer
If you have a yahoo account, you can sign up for Pay Direct and link your bank account to it. They will mail a World Card (with Cirrus ATM system) to your receipant overseas. It works like an ATM card but it's your account but not the receipant's. Also, you'll have to tell him/her the PIN on the phone.
You can look up ATM locations in that city/country and the fees are very minimal for less than $10. You can upload the money anytime and the other side can receive very soon too.
FFM
Answer
When I lived abroad and needed money withdrawn from my account to give to family members, I asked my european bank to give me duplicate ATM card ... I kept one and gave the second one to my mom.
She got her own PIN and was able to make all the withdrawals she needed, up to 4oo USD per day.
Cheers.
Rob
Answer
FYI on Ikobo
The good news: all money transfers are posted as purchases. The limits can easily be changed. They claim not to add any % to visa's 1% fee.
The bad news: their fee is 4%. This is a little too high for me. If it was 2% or even 3% I would probably use it, but not for 4%.
Answer
I believe if you both set up paypal accounts, and fund them w/ cash (not credit card on the SENDING side), there is no fee or its under 3%. Don't quote me on this.