Transferring money overseas

[Clermont]

A few months back questions were asked about transferring money over sea's and I said I'd get back once I'd worked some things out. I was having a quite discussion with my bank and the transfer people about having to put an SMS PH number in the transfer when doing online banking. I was pi==ed off with the reply's I was getting from both mob because If you haven't a roaming number you can't transfer money over seas while over there. Surprise, surprise the bank sent me a security coded device, "I've been told it's old school " that will work over sea's, it works on a principle of six numbers that change every minute and is activated until 2027,  no more PH SMS codes. When doing the transfer, you do the transfer and when prompted you put your numbers in the box for that minute, it is timed with the minutes of your transfer at the bank, I activated mine and I'll give it a test run tomorrow. See it's the squeaky wheel that gets the most oil and you don't have to take everything as gospel. I knew these IT people would come up with something, their smart you know. 

[GeoffH]

39 minutes ago, Clermont said:

Surprise, surprise the bank sent me a security coded device, "I've been told it's old school " that will work over sea's, it works on a principle of six numbers that change every minute and is activated until 2027,  no more PH SMS codes. 

ANZ are supposed to have those but I was also told I couldn't have one (due to my account type)... guess what bank I'm moving most of my money out of 

[Clermont]

Mine’s ANZ saving account 

[GeoffH]

2 hours ago, Clermont said:

Mine’s ANZ saving account 

Mine is ANZ cheque account (although I haven't had an actual cheque book for ages).

I might go into the main branch in Bendigo and say something like this chunk of money in this account can stay here in an account that CAN have one of those security code things" or it can be moved out except for a minimal amount to keep the card active and the balance moved over to Bendigo Bank and see what they say.

I don't care if they open a new account for me... as long as one of my accounts can get the device.

Edited February 21, 2022 by GeoffH

[hk blues]

It sounds like the device I had in Hong Kong with HSBC and also similar to one my UK bank uses.  For the UK bank I insert my ATM card and PIN and then a code depending on what function you need - this then generates a 6-digit pin which you use to authorise the transaction. It works well.  

[Snowy79]

2 hours ago, Clermont said:

A few months back questions were asked about transferring money over sea's and I said I'd get back once I'd worked some things out. I was having a quite discussion with my bank and the transfer people about having to put an SMS PH number in the transfer when doing online banking. I was pi==ed off with the reply's I was getting from both mob because If you haven't a roaming number you can't transfer money over seas while over there. Surprise, surprise the bank sent me a security coded device, "I've been told it's old school " that will work over sea's, it works on a principle of six numbers that change every minute and is activated until 2027,  no more PH SMS codes. When doing the transfer, you do the transfer and when prompted you put your numbers in the box for that minute, it is timed with the minutes of your transfer at the bank, I activated mine and I'll give it a test run tomorrow. See it's the squeaky wheel that gets the most oil and you don't have to take everything as gospel. I knew these IT people would come up with something, their smart you know. 

I have one of those security calculators, the battery is good for two years but be careful as you can't just swap the battery out as it wipes the memory of the chip inside rendering it useless. I managed to cut away the plastic on mine and wired a new battery in parallel with the old one until a new calculator was shipped. 

[Jollygoodfellow]

7 hours ago, Clermont said:

"I've been told it's old school "

Yes it is old, I had one years ago with Suncorp. Here in the Philippines they had them for awhile but technology phased them out.

Just to add

The one I was using did work here but eventually I had no money in that bank so not needed 

[Dave Hounddriver]

I am surprised that you guys have to have that.  I have 2 bank accounts here in Canada and both wanted 2 factor ID.  I told both of them I had no cell phone and I was a senior who had no plans to get a cell phone.  I asked them if they planned to deny me access to my bank account because I refused to get a cell phone.  Both banks made special arrangements to send the security code by email.  It seemed I only had to stand up to them and hint that I would make a federal case out of it.  I have no idea if that was just good customer service or if they have been challenged in court and lost.

[Gator]

5 hours ago, Jollygoodfellow said:

Yes it is old, I had one years ago with Suncorp. Here in the Philippines they had them for awhile but technology phased them out.

You mean last year when they finally upgraded to the colorful 2.0 version?

 

[BrettGC]

I have one of those "fobs" as well with Bank of Queensland.  I only used it once a few years back, I stopped due to the shitty exchange rate - up to 5-10c AUD under the official rate as opposed to 1-2c AUD under on the money transfer sites like World Remit, Western Union etc.  Additionally, BOQ also took a percentage cut of the amount transferred and it could take up to 2 days rather than, in most cases, instant on the transfer sites.  Amounts over $5000AUD are an issue though.