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Post by búfalo on Jan 12, 2016 9:00:48 GMT -5
Hey! My sis-in-law visited us for 6 months and worked during that time. She left her money her in the US but we'll be sending it soon. We used to just do a wire transfer with our bank - how we even bought a house. But my sis in law says the Colombian bank now needs a bunch of paperwork showing where the money came from, etc. It's only about 3K and we're using TD Bank. The account here is in our name so it just looks like we're sending her money.
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Post by robbierobnj on Jan 12, 2016 9:58:27 GMT -5
At least the dollar was strong why it sat in the US
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Post by búfalo on Jan 12, 2016 17:51:13 GMT -5
Exactly, I told her to wait when it hit 3000. She also didn't want to bring cash for fear of being robbed. I think it's also best so that she still has that money. Had she brought it some would have been spent by now.
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Post by gallito on Jan 12, 2016 20:05:46 GMT -5
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Post by gallito on Jan 12, 2016 20:09:26 GMT -5
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Post by flynnflanagan on Jan 13, 2016 11:30:54 GMT -5
Since I've had some interest on this subject, I will share my findings. 1. First of all the above link is not dated, so the info may not be accurate 2. xoom was aquired by paypal last summer. 3. You have to investigate the exchange rate that these transfer companies are giving you. xoom for one clips you on the currency exchange rate. The clip was about 50 pesos/$ before they were aquired by paypal, 100 pesos/$ since. This amounts to about 3.125% in the current market, plus they charge $4.99 for the transaction. This link will give you the exchange rate given by visa cards. I am investigating maestro and it's parent Master Card, to find a similar link. usa.visa.com/support/consumer/traver-support/exchange-rate-calculator.html/ for best accuracy, enter pesos first, then your home currency. This is the exchange that your home bank will give you, not including any fees. 4. My advice is that if you are still in your home country try to get a Charles Schwab card or equivalent. They give you the rate shown in the link above and at the end of the month, they return your atm fees to your account. You will need a home country address for the account. If your Schwab card is in the US, they might cancel your account if you are proven to be living in a foreign country. Your Schwab card will work anywhere however before any cancelation. 5.The visa link above does not work in this browser. It does work on my Android phone.
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Post by búfalo on Jan 13, 2016 13:31:49 GMT -5
Thanks for all the info. I'll post what happens.
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Post by flynnflanagan on Jan 13, 2016 14:04:26 GMT -5
Dont forget the h t t p s : / / at the front of the link
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Post by gallito on Jan 13, 2016 14:20:24 GMT -5
Read up on Charles Schwab and Capital One cards;Citibank ATM may also work in your favour.
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Post by barrumundi on Jan 13, 2016 15:01:31 GMT -5
Hey! My sis-in-law visited us for 6 months and worked during that time. She left her money her in the US but we'll be sending it soon. We used to just do a wire transfer with our bank - how we even bought a house. But my sis in law says the Colombian bank now needs a bunch of paperwork showing where the money came from, etc. It's only about 3K and we're using TD Bank. The account here is in our name so it just looks like we're sending her money. búfalo is her money in a bank account now ......or it is under the mattress?
If it is in an account, you could just send her a debit card and she can withdraw at her local ATM anytime she wants.
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Deleted
Deleted Member
Posts: 0
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Post by Deleted on Jan 13, 2016 18:12:34 GMT -5
Barru, her money is in Buf's bank account now. If he sends her a debit card she will spend his money too, lol. Maybe if his wife opened an account and deposits the sis in law's money, that would work.
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Post by búfalo on Jan 13, 2016 18:15:09 GMT -5
jejeje, yes my account. I told my wife about the debit card a ways back but the s in law didn't feel comfortable using colombian ATMs. I'm actually surprised people don't send money that way.
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Post by barrumundi on Jan 13, 2016 18:16:50 GMT -5
Barru, her money is in Buf's bank account. If he sends her a debit card she will spend his money too, lol. But she is family.......he can trust her (snicker, snicker).
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Post by robbierobnj on Jan 13, 2016 19:01:30 GMT -5
Just open an account for your wife and give the sister the card Shit you will even get to see where it goes unless she takes cash out
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Post by búfalo on Jan 13, 2016 23:18:00 GMT -5
Funny but most of my sis in laws are really trustworthy - and they are also colombianas which rarely go together! ejeje. She actualy holds money for other people in her neighborhood, they ask her to because they know they'll blow it if they have it themselves. I told her she should charge but she feels hat wouldn't,t be right. I also told her to be careful because if some money disappears then she feel responsible.
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Post by gallito on Jan 13, 2016 23:32:11 GMT -5
Is the reward worth the risk;maybe she could start her own bank.
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Post by barrumundi on Jan 14, 2016 8:18:57 GMT -5
Funny but most of my sis in laws are really trustworthy - and they are also colombianas which rarely go together! ejeje. She actualy holds money for other people in her neighborhood, they ask her to because they know they'll blow it if they have it themselves. I told her she should charge but she feels hat wouldn't,t be right. I also told her to be careful because if some money disappears then she feel responsible. @buffalo your SIL doesn't like to use ATM's because of the risk........but she holds other people's cash in her house? Probably the friends don't like to use ATM's also but they are putting her in danger!
Sooner or later some drug addict ladrone will hear about the private bank and attempt to make a withdrawal.
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