FW: [Hidden-tech] Getting money from over there to here without makingthe banks rich

[Jeanne Yocum]

Hi, all, 

Jim asked me to forward his response to my query to the group. I found his
answer quite interesting.

Jeanne
------ Forwarded Message
From: "ussailis at shaysnet.com" <ussailis at shaysnet.com>
Reply-To: <ussailis at shaysnet.com>
Date: Thu, 21 Aug 2008 10:16:12 -0400
To: <Jeanne at yourghostwriter.com>
Subject: RE: [Hidden-tech] Getting money from over there to here without
makingthe banks rich

First, the banks in W MA don't have a clue about foreign exchange. This is
in general a problem in the USA. In Nova Scotia I go to a branch of a
branch of the Bank of Nova Scotia and get foreign currency all the time.
And I pay "fair exchange" 2%.

On this side, I have found is it depends on what bank you go to. This is
not a pennies issue. The differences are large. The old BNE was the best
one in 'Hamp. Now I would check with TD. After they are not named
Toronto-Dominion because they are a US bank. At one time I had an acct here
in Canada.

Then I would look into the larger US banks, such as Citibank. My daughter
had an account with them once in Tuebingen, Germany. Their rates were
reasonable.

Next I might look thru a Canadian bank. Check for an office of The Bank of
Nova Scotia in Boston. Really? Yes, they are world-wide. And I know of
another fellow, in the valley, who gets statements from them on a regular
basis...I grabbed his mail by mistake one time. The did have an office in
Boston once.

Another plan is to go thru a UK bank. Presently, my daughter has an acct at
a UK bank. She does deposits there, but has not done a withdrawal into US
currency.

So, Find a foreign bank that has a branch in the States. Have the deposit
made to that acct, and withdraw here. You will have to do it by mail, but
you should loose no more that 2 or 3%. Again, look into a Canadian bank.
You might start at TD. But, you will need to call "head offices." The
locals know nothing about foreign currency...you mean there is something
important outside of the USA?

I have even tried wire transfers. Much, Much too expensive.


Jim Ussailis
jim at nationalwireless.com

PS Another thought. Get a credit card "merchant services" account (Visa, MC
even AMEX) Have the deposit made as a payment to the acct, ie; as a charge
which you enter from here. They will grab about 4%, you will have the $$ in
2 or 3 days. I got my acct thru the Easthampton Savings Bank, and I have
taken Canadian credit cards. Amex may be the better one for foreign
currency.

email me if you have any problems with this. I have been through it.


Original Message:
-----------------
From: Jeanne Yocum Jeanne at yourghostwriter.com
Date: Wed, 20 Aug 2008 18:04:35 -0400
To: hidden-discuss at lists.hidden-tech.net
Subject: [Hidden-tech] Getting money from over there to here without
makingthe banks rich


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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
____________________________
Tuscarora Communications, Ltd.
Granby, MA
www.yourghostwriter.com
Member: National Writers Union




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