Future for net bank transfers

[kyro_02]

Hello,

My bank has recently added internation banking (Commonwealth Bank of Australia).

But here's the catch!

They charge (I think) $21.00AUD on top of the money I would be transferring to international, and then international banks would charge me $$ as well on top of the money i'm transferring!

So if I was to transfer for example:
$100.00
Adding the $21.00 for transfer fee's my bank will charge me
Adding the extra $$ for the international transfer rates, which they could charge me an arm and a leg. Much the same as my bank does.

Anytime in the future you guys at VBULLETIN DOT COM want to set up an international bank account within australia, thus cutting the cost more then half of transfer fee's. Transfer fee's for me to other account's in australia are, I think no more then $2 to other banks, and something like less then $1 to the same bank. (I'm only guess, I know it's cheap but don't no what the actual transfer costs are).

Thanks.

edit:

forgot to add, my international bank transfer account isn't set up. They told me it would cost $30!!!!

edit2:

My post is mainly about the netbank side of things...

[Andreas]

AFAIK PayPal is also available in Australia.

[kyro_02]

AFAIK PayPal is also available in Australia.

Only if you have a credit card.

edit:

You can only transfer money with paypal.com.au to anywhere if you have a credit card to take money out with...

[ManagerJosh]

Kyro - what about just mailing a cheque?

[kyro_02]

Kyro - what about just mailing a cheque?

That could take over a week to send - when if I was able to send on the net localy it will take no more then 2 days

[Reeve of Shinra]

I am curious, with my bank I can pay online via fund transfers from my account free of charge. I wonder if that holds true with an international payee.

[feldon23]

That's a USA thing. Everywhere else, bank fees are astronomical.

[ManagerJosh]

That could take over a week to send - when if I was able to send on the net localy it will take no more then 2 days

Well its either mailing the check, or paying the transfer fees, and wire transfer fees.

[kyro_02]

Well its either mailing the check, or paying the transfer fees, and wire transfer fees.

I don't understand the wire-transfer... is it when you give someone your account details and permission for them to take money out of your account?

eg:
I give person1 my bank accounts and permission to take $1 out of my bank account...

or something?

please explain :/?

- Never heard of wire-transfer over here...

[ManagerJosh]

http://en.wikipedia.org/wiki/Wire_transfer

[feldon23]

Wire Transfer is PUSH not PULL. You don't withdraw money (very dangerous to give someone this much info). You deposit money (safer).

[CMilne]

First of all your own fault for choosing commbank :S Westpac only has a $10 fee. You should just make out a bank cheque, with westpac you can do that online, not sure about commbank, you might have to go into a branch.

Either way, it's either, you spend a week considering your options, or you send a bank cheque now and get it a week earlier.

[chrispadfield]

Use moneybookers.com. Its the cheapest for international transfers I can found. They send a wire transfer for about $1.50. Your incoming bank might charge you. I know royal bank of canada didn't, but bank of america does. Depends on the bank.

[Wayne Luke]

Use moneybookers.com. Its the cheapest for international transfers I can found. They send a wire transfer for about $1.50. Your incoming bank might charge you. I know royal bank of canada didn't, but bank of america does. Depends on the bank.

Bank of America charges me for incoming but my account allows outgoing transfers for free.. Incoming fee isn't bad though, it varies by amount but no more than $15.00.

[chrispadfield]

Yeah. Most don't charge you for outgoing intra country transfers, and moneybookers can get transfer from most domestic systems so you arn't charged that way. Nothing you can do about banks that charge to receive payments though; although moneybookers can avoid this if the other person has a moneybookers account because they can do a local withdrawl instead of a wire transfer to their account.