[Zuerst]

If I was given a bank account information in another country, what steps do I need to take to transfer the funds to that account? Any escrow services that I should use?

 

[EyEPoD]

Just go over to your bank and let them walk you through it. I did this recently (I use wachovia) and the process was pretty straight forward. Took about 3 business days for the funds to arrive on the other end.

 

[Zuerst]

So every bank should be able to do this right? Is there any fees associated with this process? Thanks,

 

[tortie]

Yes, there normally would be bank charges for that type of service. Dont forget to get the other banks swift code.

 

[Peterg2]

Quote:

Originally posted by Zuerst So every bank should be able to do this right? Is there any fees associated with this process? Thanks,

Very easy and it is termed a TT transfer (Telegraphic transfer). Depending on the banks at sending and receiving end it can take a matter of just a few hours or a day or two (depending on the intermediary banks). In the US I would guess a cost of roughly $20-$25 or so.

Peter

 

[ch1nkster]

yep i did this once when i bought a discman off a guy who lived in germany. just go to your bank with the info

 

[boodi]

Quote:

Originally posted by Zuerst So every bank should be able to do this right? Is there any fees associated with this process? Thanks,

provide to your bank the seller SWIFT and IBAN account codes to do the tranfer , can cut off some fees .

 

[ipodstudio]

If you have online internet banking access and the IBAN & acc. nr. of the recipient, you can do it yourself and it's cheaper. Otherwise, when you go to your bank just make sure you're armed with the recipients' full name, address, name & address of his bank, his account nr. and IBAN number. In Europe we call this a bank transfer or Swift Transfer. If I send money to you in the US my bank charges me around $30, so it's not cheap from this end, at least, but worth it on larger sums where saftey is paramount.

 

[Deja Vu]

From my experience, I can tell that Western Union is much cheaper than wire transfer.

However, PayPal would probably be the best solution if applicable.

What I said might sound irrelevant, but wire transfer usually costs a lot, try to use something else if you can.

 

[Canman]

At my bank an international transfer is $40 because we have to route it through Wachovia. Funds are usually transferred within one business day as long as you do it before your bank sends the transfers for the day.

 

[Zuerst]

Wow that's a lot more than I expected... Does that type of transfer provide some kind of security? Would I be better off using a escrow service of some sort? Like escrow.com?

 

[Canman]

Quote:

Originally posted by Zuerst Wow that's a lot more than I expected... Does that type of transfer provide some kind of security? Would I be better off using a escrow service of some sort? Like escrow.com?

Well the funds are guaranteed to arrive at the destination account. You must trust the owner of the destination account. The amount of protection you get with this method is arguable. On one hand you know exactly where the funds are going and it is easily traced however contacting law enforcement in another country in case a seller doesn't ship goods is not something I would want to deal with.