Author Topic: Whats the best way to send money to a bochur learning in Israel.  (Read 3267 times)

Offline AsherO

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Re: Whats the best way to send money to a bochur learning in Israel.
« Reply #15 on: August 13, 2012, 02:51:06 PM »
ach, still not smart.
having an atm/debit card with a limit is way better/smarter then a cc that has no limit.
you know its different when you can't use your card vs using it and good dad is gonna have no or little choice but to pay it up later-on
seems like you guys either warnt buchurim for a while or wer very "smart" on budgeting.

Why not give them a CC and set a limit (just above their spending limit) without telling them?
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Re: Re: Whats the best way to send money to a bochur learning in Israel.
« Reply #16 on: August 13, 2012, 02:54:08 PM »
Why not give them a CC and set a limit (just above their spending limit) without telling them?
thats definitely a good option, but JJ,SKY121,DAN wer actually talking about a no set limit.
which actually made my eyebrows rise
I'm just say'inę«

Offline sky121

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Re: Re: Re: Whats the best way to send money to a bochur learning in Israel.
« Reply #17 on: August 13, 2012, 02:54:48 PM »
ach, still not smart.
having an atm/debit card with a limit is way better/smarter then a cc that has no limit.
you know its different when you can't use your card vs using it and good dad is gonna have no or little choice but to pay it up later-on
seems like you guys either warnt buchurim for a while or wer very "smart" on budgeting.



Well if your kid is the type to go over his limit significantly then I agree.


You want to teach him budgeting without getting burned at the same time.
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Re: Re: Re: Whats the best way to send money to a bochur learning in Israel.
« Reply #18 on: August 13, 2012, 02:57:55 PM »
thats definitely a good option, but JJ,SKY121,DAN wer actually talking about a no set limit.
which actually made my eyebrows rise
EDIT: also, there is no difference, from the buchurs end, whether he uses a set-limit cc or a debit card on both he's limited to whatever
and having to keep fluid available all the time is probably not the buchurs concern [my impression from OP]
I'm just say'inę«

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Re: Whats the best way to send money to a bochur learning in Israel.
« Reply #19 on: August 13, 2012, 02:59:29 PM »
thats definitely a good option, but JJ,SKY121,DAN wer actually talking about a no set limit.
which actually made my eyebrows rise
I actually said the opposite but OK.
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Well if your kid is the type to go over his limit significantly then I agree.


You want to teach him budgeting without getting burned at the same time.
your right it depends from boy to boy but on a random question like that without knowing the bochur, I would say debit/set-limit cc, to be safe
I'm just say'inę«

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Re: Re: Whats the best way to send money to a bochur learning in Israel.
« Reply #21 on: August 13, 2012, 03:03:21 PM »
Smarter is very different than better. It may be smarter because they can't screw up, but if they spend the same amount that you allot them on a cc as they would cash, then it seems that'd be a better lesson on how to spend responsibly. Especially if you have them paying the bill from their bank account even if you load it. That's another idea why not give them the option. You put $100 in their bank account and they must use that to pay their CC. This is assuming they have internet or a phone...
from your words looks like you didn't talk about a set-limit but ok
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Re: Whats the best way to send money to a bochur learning in Israel.
« Reply #22 on: August 13, 2012, 03:10:48 PM »
from your words looks like you didn't talk about a set-limit but ok
Set in regards to what you tell the bochur or what you prearrange with the CC company? I said
but if they spend the same amount that you allot them on a cc as they would cash.
I also said
Depends on the kid/parents-responsibility/trust.
So yes, if the parent doesn't trust the kid or the kid isn't responsible, AsherO's above stated suggestion to set a limit with the CC company which is just above your kids "allowance", would be a great solution!
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Re: Re: Whats the best way to send money to a bochur learning in Israel.
« Reply #23 on: August 13, 2012, 03:13:33 PM »
Set in regards to what you tell the bochur or what you prearrange with the CC company? I said  I also said  So yes, if the parent doesn't trust the kid or the kid isn't responsible, AsherO's above stated suggestion to set a limit with the CC company which is just above your kids "allowance", would be a great solution!
read up! I was referring to asherO's suggetion [set-limit cc] vs your suggetion [set-buchur]
I'm just say'inę«

Offline Jkhein

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Re: Whats the best way to send money to a bochur learning in Israel.
« Reply #24 on: August 13, 2012, 03:17:39 PM »
It might not be such a good idea to train a bochur into using credit cards.
Let him open a TD bank account with a debit card, and deposit money in his account monthly.
I know many who use this, and I think its best method.

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Re: Re: Whats the best way to send money to a bochur learning in Israel.
« Reply #25 on: August 13, 2012, 03:21:25 PM »
I know many who use this, and I think its best method.
yeah, me thinks that's the bottom line or as asherO suggested [isn't it gonna help support the site as well ?]
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Offline 08701

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Re: Whats the best way to send money to a bochur learning in Israel.
« Reply #26 on: October 25, 2017, 04:24:05 PM »
Can anybody update this based on advances in technology in the last 5 years?
Most banks charge transaction fees for using their ATM cards overseas. TD Bank doesn't charge but limits the amount per month you can withdraw. (Married kids living in Israel paying rent etc.). Paypal does not transfer from US accounts to Israeli Paypal accounts. Any ideas?

Offline David Smith

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Re: Whats the best way to send money to a bochur learning in Israel.
« Reply #27 on: October 25, 2017, 04:31:26 PM »
Can anybody update this based on advances in technology in the last 5 years?
Most banks charge transaction fees for using their ATM cards overseas. TD Bank doesn't charge but limits the amount per month you can withdraw. (Married kids living in Israel paying rent etc.). Paypal does not transfer from US accounts to Israeli Paypal accounts. Any ideas?
Deposit money in US acct with no ATM fees (there are numerous options) and withdraw from Israeli ATM.
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Re: Whats the best way to send money to a bochur learning in Israel.
« Reply #28 on: October 25, 2017, 04:31:47 PM »
Can anybody update this based on advances in technology in the last 5 years?
Most banks charge transaction fees for using their ATM cards overseas. TD Bank doesn't charge but limits the amount per month you can withdraw. (Married kids living in Israel paying rent etc.). Paypal does not transfer from US accounts to Israeli Paypal accounts. Any ideas?
TD Bank has a monthly withdrawal limit?
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Re: Whats the best way to send money to a bochur learning in Israel.
« Reply #29 on: October 25, 2017, 04:44:37 PM »
Deposit money in US acct with no ATM fees (there are numerous options) and withdraw from Israeli ATM.
+1

Charles Schwab is a great option.
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