Solved

PayPal money transfer internationally

Posted on 2016-11-15
15
53 Views
Last Modified: 2017-01-17
Anyone know if Paypal works internaltionally?

My cousin needs to send me money from Israel to US.   Would it work using Friends & Family option w/o fees?

If it doesn't work this way.  What are the other options to transfer w/o fees.  Around $1000.

Thanks.
0
Comment
Question by:Tiras25
  • 6
  • 3
  • 3
  • +3
15 Comments
 
LVL 25

Expert Comment

by:-MAS
ID: 41888342
0
 
LVL 17

Author Comment

by:Tiras25
ID: 41888362
Looks like 1% fee Friends & Family option if you have a PayPal or a Bank balance.  And 3.9% if using a credit card.  

Any other way to transfer money internationally to US?
0
 
LVL 20

Accepted Solution

by:
viki2000 earned 250 total points
ID: 41888415
Western Union, Money Gram
0
 
LVL 17

Author Comment

by:Tiras25
ID: 41888423
Thanks Viki.  Looks like WU/MG charge about 4.5 to 5%.  Wonder if there other options?
0
 
LVL 37

Expert Comment

by:Bing CISM / CISSP
ID: 41888424
if you could setup a new account in USD in Israel, i guess the transfer should be no charge though there might be a fee for withdrawing the fund back to your US bank account.
0
 
LVL 17

Author Comment

by:Tiras25
ID: 41888429
Thaks Bing.  So I think that would have to be the exact same Bank in both countries.   For example Bank of America in US and Bank of America in Israel.  I don't think there is one though.
0
 
LVL 37

Assisted Solution

by:Bing CISM / CISSP
Bing CISM / CISSP earned 125 total points
ID: 41888455
i don't think that is necessary.

BTW, banks in different countries are different banks, it doesn't help more if you transfer money between them. e.g. HSBC has branches in most countries and i never had a free international transfer with them.
0
Microsoft Certification Exam 74-409

Veeam® is happy to provide the Microsoft community with a study guide prepared by MVP and MCT, Orin Thomas. This guide will take you through each of the exam objectives, helping you to prepare for and pass the examination.

 
LVL 17

Author Comment

by:Tiras25
ID: 41888467
Thanks again Bing.  Looks like PayPal is the lowest fees.

Have you heard about Kiwi bank transfers?
0
 
LVL 37

Expert Comment

by:Bing CISM / CISSP
ID: 41888506
sorry no. but i do know Kiwi refers to New Zealand things. :)
1
 
LVL 48

Expert Comment

by:dbrunton
ID: 41888538
Kiwibank or Kiwi banks (banks in New Zealand)?

Kiwibank is just another bank in New Zealand.  

You can transfer money to banks in New Zealand or the other way around (transfer money out of New Zealand).  For overseas transactions between different accounts you need to know the account number you are transferring to and the SWIFT code.

Examples of SWIFT codes for New Zealand are here  https://www.theswiftcodes.com/new-zealand/

All banks charge fees for currency transfer.
0
 
LVL 17

Author Comment

by:Tiras25
ID: 41888553
Got it. Thanks.
   So no other ways to lower fees.
0
 
LVL 14

Expert Comment

by:Kyle Santos
ID: 41888580
Western Union, Money Gram
Although I have used Western Union in the past, these two companies are heavily used by scammers.  eg Craigslist is rife with scammers who use those companies.
0
 
LVL 48

Expert Comment

by:dbrunton
ID: 41888640
There may be up to three fees involved in such transactions.  Two banks so there are two currency charges there.  The currency charges are usually a percentage on the amount concerned.  And there is usually a transaction fee at the originating bank.

See https://www.interest.co.nz/currencies/currency-conversion-fees

So, yes, you are going to get screwed by the banks.
1
 
LVL 17

Author Comment

by:Tiras25
ID: 41888667
Thanks again!  So I guess the PayPal Friends & Family option is the best.  1% fees with Bank or PayPal balance.  3.9% with Credit Card.
0
 
LVL 48

Assisted Solution

by:dbrunton
dbrunton earned 125 total points
ID: 41888699
You'll still get the currency fees (exchange rate).

If the transaction fee is 1% (I haven't checked the Fees section) then that isn't too bad on a thousand dollars.
1

Featured Post

Is Your Active Directory as Secure as You Think?

More than 75% of all records are compromised because of the loss or theft of a privileged credential. Experts have been exploring Active Directory infrastructure to identify key threats and establish best practices for keeping data safe. Attend this month’s webinar to learn more.

Question has a verified solution.

If you are experiencing a similar issue, please ask a related question

Suggested Solutions

Title # Comments Views Activity
Change management best practice 2 115
Rubber hose 5 77
hp deskjet 1055 8 62
How to create sql script of a table in a sql server database 8 36
One of the biggest challenges facing freelancers is balancing multiple projects and deadlines. Organizational skills and time management are key to keeping up with projects and staying on track. Luckily, we’ve curated seven tools to help you focus o…
With the shift in today’s hiring climate (http://blog.experts-exchange.com/ee-blog/5-tips-on-succeeding-in-the-new-gig-economy/?cid=Blog_031816), many companies are choosing to hire freelancers to get projects completed efficiently and inexpensively…
The Bounty Board allows you to request an article or video on any technical topic, or fulfill a bounty request to earn points. Watch this video to learn how to use the Bounty Board to get the content you want, earn points, and browse submitted bount…
Articles on a wide range of technology and professional topics are available on Experts Exchange. These resources are written by members, for members, and can be written about any topic you feel passionate about. Learn how to best write an article t…

862 members asked questions and received personalized solutions in the past 7 days.

Join the community of 500,000 technology professionals and ask your questions.

Join & Ask a Question

Need Help in Real-Time?

Connect with top rated Experts

25 Experts available now in Live!

Get 1:1 Help Now