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ljepson
11-12-2003, 19:00
What is the best way to transfer money to the US?

Unfortunately 4 people I know left to the US the day before I was paid. How can I safely and cheaply send money to the US?

L-

DaveUKagain
11-12-2003, 19:15
Western Union`s fastest, but quite expensive. Bank wire transfer may be your better option. Credit card - better still.

bad manners
12-12-2003, 01:08
Originally posted by DaveUKagain
Western Union`s fastest, but quite expensive. Bank wire transfer may be your better option. Credit card - better still.

I don't understand the credit card thing. If I got a credit card and I'm in Russia (Moscow to simplify things), how can I use it to transfer money to somebody outside Russia? Oh, assuming that somebody does not have a credit card transaction processor, like amazon does :-)

Oh! Do you mean PayPal?

DPG
12-12-2003, 03:17
The trick is to get a duplicate card sorted out in the name of your mum/dad/best friend etc etc and leave it with them (or post it to them whaterever).

All you have to do is let them know when you deposit cash into your russian account and they can withdraw it and put it into your uk/usa/cayman islands bank(!) account.

earl
12-12-2003, 08:34
Paypal can also be a nice way to transfer money across borders, at least for west Europeans. I have no idea if they work in Russia.

-earl-

Braders
12-12-2003, 15:47
Central Sberbank, Vavilova Ul, 19.

1% charge.. money goes straight into the account specified, Transfer form is in Russian, your account information to be written in English though.

Have done this many times and 3 days later the funds are always in my account.

DPG
12-12-2003, 16:06
Originally posted by Braders
Central Sberbank, Vavilova Ul, 19.

1% charge.. money goes straight into the account specified, Transfer form is in Russian, your account information to be written in English though.

Have done this many times and 3 days later the funds are always in my account.

Even easier than what i've been doing!!

Do you have to have an account with them??

Also, can you bring in as opposed to $$ in order to avoid charges in the UK (natwest charged me about 20 last time for receiving foreign currency into my account, and then converted the dollars into pounds at a criminally high rate!).

Cheers

bad manners
12-12-2003, 16:17
Originally posted by DPG
The trick is to get a duplicate card sorted out in the name of your mum/dad/best friend etc etc and leave it with them (or post it to them whaterever).

All you have to do is let them know when you deposit cash into your russian account and they can withdraw it and put it into your uk/usa/cayman islands bank(!) account.

That is really a special case. Can work with only a couple of persons.

bad manners
12-12-2003, 16:24
Originally posted by DPG
Even easier than what i've been doing!!

Do you have to have an account with them??

Also, can you bring in as opposed to $$ in order to avoid charges in the UK (natwest charged me about 20 last time for receiving foreign currency into my account, and then converted the dollars into pounds at a criminally high rate!).

Cheers

Well, didn't you suggest a Cayman Islands bank account? That will solve this problem and a few others. :-)

Generally, when you request a wire transfer you can ask the originating bank to convert it to another currency; in many cases you just need to specify the currency of the transfer and they'll do it automatically. They may still do that at a criminal rate, so ask first.

Braders
12-12-2003, 16:50
Originally posted by DPG


Do you have to have an account with them??

Also, can you bring in as opposed to $$ in order to avoid charges in the UK (natwest charged me about 20 last time for receiving foreign currency into my account, and then converted the dollars into pounds at a criminally high rate!).

Cheers

You don't need an account with the bank, you just ask for the necessary transfer form.

I have no idea if they transfer 's, i have found in the past their rates are very competitive once the transfer is complete and i work out the exchange rate.

If you do use their bank make sure when filling out the form that you don't correct any errors or they will ask you to do the whole form again.

This is reassuring for me, in that nobody can alter information on the form afterwards.

I have attached an image of the Transfer form.

ljepson
14-12-2003, 17:40
Sweet. thanks for all the info. I'll try it at the Sberbank here in Zelenograd if I can find one.


L-

ljepson
17-12-2003, 20:13
Here are my results of doing a Sberbank transfer of funds.

I do not have a sberbank account and transferred money to my US bank account.

I spent 3-4 hours at the bank (morning, pre-lunch, post-lunch).
Granted, I was at the main Sberbank in the suburb of Zelenograd, but they obviously do not do this transaction too much.

I filled out the form many times. Yes, every time a mistake is made (no crossouts allowed) you must start over.

Contact your bank and get your SWIFT/ABA, etc. numbers.
Try to go when there won`t be a lot of other customers.

I learned:
8 is not acceptable to indicate August, 08 is needed (but I had another error anyway).
VIII is no good for August either.
I needed to supply dollars. Since I bought dollars there, it was not a problem, but you need to show them a slip showing where you bought the foreign currency. (I don`t know how this is dealt with if you claim to bring the money into the country.)


Multiple times phone calls were made and I was told to check a different box, such as the one which asks WHY you want to transfer money.

In the end Sberbank charges the $20 or %1.
Wells Fargo (USA) charged me $10.

In the end
$X - $20(sberbank) - $10(wells fargo) - %2 (I don`t know who took this)= amount received.

The form I got was a bit different than the one shown.
If you are new at this, make sure you get a photocopy so that when you return it ain`t so tough.

Lj