[Hidden-tech] Getting money from over there to here without making the banks rich

Aurangzeb M. Agha ama at mltp.com
Thu Aug 21 10:36:30 EDT 2008


I'm not sure if this would work, but you could both look to open up an 
account with the same bank--one that had an international presence.

For example, if you both had Citibank or ING accounts, I think 
transferring money from one account to another within the same bank is 
cheaper(/free?).  I transfer money from one ING account to another all the 
time without any fees on either side.


Rgs,

Aurangzeb

On Wed, 20 Aug 2008, Jeanne Yocum wrote:

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:Hi,
:
:I have a client in Denmark who has been paying me by making a wire transfer
:into my bank account. Every time he sends me $2K, his bank takes about $40
:out of the $2K and then my bank also charges me a $20 fee. So we're out
:roughly $60 all told. We are now entering into a retainer relationship, so
:he'll be sending money each month...and, of course, we both would like to
:eliminate the ridiculous bank fees.
:
:I asked my bank what would happen if he just FedExed me a check made out in
:Euros and they said they would charge me $50 to change the Euros to dollars.
:I also checked Western Union and it turns out they would charge in that
:range also for the transaction. (Funny how no matter how you do it, it ends
:up costing about the same amount...why is that?)
:
:Does anybody know how to get money from there to here for less than 50 to 60
:bucks per transaction?  My client will be traveling to the U.S. in a few
:weeks and is wondering if he can go into one of the major banks, provide
:them with my account number, hand them his credit card and ask them to make
:a deposit to my account and charge it to his credit card.  Would this work?
:
:Thanks for any input.
:
:Best,
:
:Jeanne Yocum  | Principal
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