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02-16-2009, 01:26 PM
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#1 | | I bringith the lowerballerith
Join Date: Mar 2002 Location: Vancouver
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| Transfering funds to foreign bank accounts
I'm looking to fund some HK and China bank accounts.
What is the safest, most cost effective way of doing this?
TIA
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02-16-2009, 01:38 PM
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#2 | | OMGWTFBBQ is a common word I say everyday
Join Date: Nov 2005 Location: Vancouver
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er..
wire transfer with your bank?
it costs $10 or so.
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02-16-2009, 03:24 PM
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#3 | | Raping Captured Dolphins since 2002 on EZ board days
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Ill be going to HK soon, you can give me the money and your bank account and I can "safely" transfer it for you.
If not, wire transfer will suffice. Because it is not a Canadian bank and obviously not one of the big 5's in Canada, you will need the following information to give to your local bank to help wire the transfer:
- The complete address of the receiving bank
- The phone number of the receiving bank
- The transit number of the receiving bank
- The institution number of the receiving bank
- The account number and full name of the person you're wiring the money to
For RBC, it costs $35usd plus communication fee and correspondent bank fee if applicable ( communication fees are provided at the branch)
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02-16-2009, 03:51 PM
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#4 | | OMGWTFBBQ is a common word I say everyday
Join Date: Nov 2005 Location: Vancouver
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35?!
RBC = ridiculous banking charges
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Originally Posted by Fei-Ji haha i can taste the cum in my mouth | There is a time when you have to sig a post.
It just happened.
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02-16-2009, 04:31 PM
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#5 | | HELP ME PLS!!!
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OMG!!
35 for canada to send and whatever the other charges to receive?!?
and i thought i was getting ripped off with 30$ total
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~goodnight fat sig.
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02-16-2009, 04:38 PM
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#6 | | I bringith the lowerballerith
Join Date: Mar 2002 Location: Vancouver
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Originally Posted by wouwou er..
wire transfer with your bank?
it costs $10 or so. | Believe it or not its actually not even close to $10 at any of the big 5 banks unless you are a VIP customer even that its at least $15-$20
The going rate for most banks for single transaction is $35 + commission.
Pretty steep if you ask me.
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02-16-2009, 07:47 PM
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#7 | | Ubereem Mod
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Credit Union - Vancity is 10/20 bucks. =) anywhere. straight. no extra/hidden fees
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02-16-2009, 08:28 PM
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#8 | | I answer every Emotion with an emoticon
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hsbc = $35 and up
hsbc commercial accounts = add $50 more.. LOL
i heard TD charges are pretty expensive as well
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02-16-2009, 09:22 PM
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#9 | | MiX iT Up!
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XE.com Wire Transfer.
RBC = $35 outgoing / 15 incoming
Scotia = $6 for domestic wires / 25 international in.
HSBC = $40 in/out
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02-16-2009, 10:59 PM
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#10 | | WOAH! i think Vtec just kicked in!
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Is it possible to set up PayPal accounts and link them up with the foreign country bank accounts? Then you could just transfer it back and forth, not sure about the exchange rates though.
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02-18-2009, 07:12 AM
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#11 | | I bringith the lowerballerith
Join Date: Mar 2002 Location: Vancouver
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Well I ended up using the company MoneyTT (its located in Crystal Mall and another location in Richmond). I was pretty surprised as it was recommend by the teller who I bank with.
I question whether its legit at first but it looks ok to me as during my visit to MoneyTT there were many other customers transferring and exchanging larger amounts of money than me.
They work on a staggered pricing structure so it cost from the lowest $8 bucks to transfer $500 CAD and the highest $35 for anything more than $10K. It really works out for people who are transferring smaller amounts as the $8 can't really be beat.
Hope this helps other RS'ers
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02-18-2009, 12:57 PM
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#12 | | Raping Captured Dolphins since 2002 on EZ board days
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Originally Posted by sh0n Well I ended up using the company MoneyTT (its located in Crystal Mall and another location in Richmond). I was pretty surprised as it was recommend by the teller who I bank with.
I question whether its legit at first but it looks ok to me as during my visit to MoneyTT there were many other customers transferring and exchanging larger amounts of money than me.
They work on a staggered pricing structure so it cost from the lowest $8 bucks to transfer $500 CAD and the highest $35 for anything more than $10K. It really works out for people who are transferring smaller amounts as the $8 can't really be beat.
Hope this helps other RS'ers | It does, thanks 
What information must you provide in order to complete the transaction? I mean the account information in China/Hk?
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Originally Posted by asian_XL apparently, freedom of speech does not exist on RS
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Originally Posted by Alphamale I give a lot of people rim jobs. | My Feedback | |
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11-25-2009, 02:34 PM
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#13 | | RS Lurker, I don't post!
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| International money transfer
Or you can try going to RIA financial service. Their rates are much lower than western union or money mart and money gets transferred immediately. I have tried both their "home delivery" and "rural pick-up" service and they are excellent. But I think only certain countries have that option. I remembered they are located on hastings & kamloops.
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11-28-2009, 03:13 AM
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#14 | | I am Hook'd on RS
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| http://www.canadianforex.com/
No charge over $10k and the best rate that any individual person can get  | |
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11-28-2009, 05:48 AM
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#15 | | The "You'd Know" Moderator
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HSBC Premier = free.
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Ezekiel 25:17. The path of the righteous man is beset on all sides by the inequities of the selfish and the tyranny of evil men. Blessed is he who, in the name of charity and good will, shepherds the weak through the valley of the darkness. For he is truly his brother's keeper and the finder of lost children. And I will strike down upon thee with great vengeance and furious anger those who attempt to poison and destroy my brothers. And you will know I am the Lord when I lay my vengeance upon you. | |
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11-29-2009, 12:26 PM
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#16 | | I answer every Emotion with an emoticon
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Originally Posted by impactX HSBC Premier = free. | only if it's HSBC to HSBC 
try transferring to Bank of America, regular fees apply
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11-29-2009, 01:45 PM
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#17 | | Raping Captured Dolphins since 2002 on EZ board days
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Originally Posted by TRDood only if it's HSBC to HSBC
try transferring to Bank of America, regular fees apply | BoA does not operate personal banking services in HK or China. And even if they did, why would you want to open an account with another bank if you already have premier status with HSBC that would open an account for you.
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Originally Posted by asian_XL apparently, freedom of speech does not exist on RS
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Originally Posted by Alphamale I give a lot of people rim jobs. | My Feedback | |
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11-29-2009, 02:08 PM
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#18 | | I answer every Emotion with an emoticon
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thats not the point. i was just trying to tell the person above that HSBC premier wire trf fees are noy always free.
of course your info is correct also.
some people doesnt like to have their accounts in one single bank. but HSBC premier has pretty good features. just that the relationship managers are sometimes retarded. Posted via RS Mobile | |
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11-29-2009, 02:09 PM
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#19 | | I answer every Emotion with an emoticon
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11-29-2009, 08:51 PM
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#20 | | I keep RS good
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the safest, EASIEST, and most CONVENIENT way is to do a bank transfer. and just pay the 30 bucks or whatever it is.
it's not the cheapest but like i said, it's the most convenient.
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