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Transferring money overseas


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8 minutes ago, BrettGC said:

I have one of those "fobs" as well with Bank of Queensland. 

No this is different, I had one of then too and I was like you, ditched it because of the same problem, this is independent of the bank exchange rate, it works off internet banking and putting the numbers into the SMS box lets  the actual money be transferred, no charges, no fees nothing to do with exchange rates. :cheersty:

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16 hours ago, Snowy79 said:

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. 

I haven't had to change the battery on mine as I use it about once or twice a year but the instructions that came with it do say the battery can be changed so maybe each device is different.  I have two anyway just in case.  

I was surprised to note that other bank's machines can also be used to generate the code.

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I wonder if Schwab or Chase has anything like this for us in the US. Probably not. I think Chase will close your account if they even sniff that you are living overseas. Ughh.

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Schwab does have an international account option... requires a decent deposit I think.  

Isn't it amazing how easy it is to send $$$ to relatives... but to ourselves, seems to be challenge :huh:

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1 hour ago, Joey G said:

Schwab does have an international account option... requires a decent deposit I think.  

Isn't it amazing how easy it is to send $$$ to relatives... but to ourselves, seems to be challenge :huh:

To be fair, it was no easy task to transfer money to a friend in Hong Kong from here through Metrobank.  Then again, with BPI it's not even possible to transfer money online to another bank account here in the Philippines unless you use the mobile app rather than internet banking.  

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18 hours ago, baronapart said:

I wonder if Schwab or Chase has anything like this for us in the US. Probably not. I think Chase will close your account if they even sniff that you are living overseas. Ughh.

I have a USA based investors checking account with Schwab. I simply send to myself via world remit. No 2FA or any other type add on device needed. Plus, if necessary, I can use their debit card anywhere in the world without paying any fees (they’re credited back to my account).

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6 hours ago, hk blues said:

To be fair, it was no easy task to transfer money to a friend in Hong Kong from here through Metrobank.  Then again, with BPI it's not even possible to transfer money online to another bank account here in the Philippines unless you use the mobile app rather than internet banking.  

One of the reasons we're about to ditch BPI.  Giving Union Bank a shot.

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4 hours ago, Gator said:

I have a USA based investors checking account with Schwab. I simply send to myself via world remit. No 2FA or any other type add on device needed. Plus, if necessary, I can use their debit card anywhere in the world without paying any fees (they’re credited back to my account).

I've used Schwab debit to travel internationally for years. Never a problem. Alway got my fees back. 

 

11 hours ago, Joey G said:

Schwab does have an international account option... requires a decent deposit I think.  

Isn't it amazing how easy it is to send $$$ to relatives... but to ourselves, seems to be challenge :huh:

My problem is I think as soon as you open an international account you aren't eligible for your normal investment account. I have a Schwab branded AE Platinum card that I would hate to lose. I am able to transfer my rewards directly into my investment account as cash for a decent exchange rate.

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On 2/23/2022 at 12:43 PM, hk blues said:

To be fair, it was no easy task to transfer money to a friend in Hong Kong from here through Metrobank.  Then again, with BPI it's not even possible to transfer money online to another bank account here in the Philippines unless you use the mobile app rather than internet banking.  

As for bill payments and funds transfers to 3rd party there are settings to remove the sms code or need to verify through a phone.

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