Author Topic: TransferWise  (Read 9219 times)

Offline tavster

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Re: TransferWise
« Reply #40 on: May 24, 2021, 11:33:54 AM »
Thanks for the detailed answers.

I'll do a cost comparison tomorrow and will report back


Offline moe8555

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Re: TransferWise
« Reply #41 on: May 24, 2021, 01:06:41 PM »
Thanks for the detailed answers.

I'll do a cost comparison tomorrow and will report back

I have an account with FIBI (Bank Beinleumi) and pay a flat $1.75 per USD transfer to my U.S. account.  The FX rate is also very reasonable, only about 0.4-0.5% markup and 0 fees.

Offline ExGingi

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Re: TransferWise
« Reply #42 on: May 24, 2021, 01:07:58 PM »
I have an account with FIBI (Bank Beinleumi) and pay a flat $1.75 per USD transfer to my U.S. account.  The FX rate is also very reasonable, only about 0.4-0.5% markup and 0 fees.

Wow. Did you negotiate that rate with the banker? What about incoming international wires?
I've been waiting over 5 years with bated breath for someone to say that!
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Offline tavster

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Re: TransferWise
« Reply #43 on: May 24, 2021, 01:08:37 PM »
I have an account with FIBI (Bank Beinleumi) and pay a flat $1.75 per USD transfer to my U.S. account.  The FX rate is also very reasonable, only about 0.4-0.5% markup and 0 fees.
Sounds amazing

Offline moe8555

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Re: TransferWise
« Reply #44 on: May 24, 2021, 01:10:55 PM »
Wow. Did you negotiate that rate with the banker? What about incoming international wires?

It's a "Hitechzone" account.  Supposedly the benefit expires after a few years, I hope they will be willing to extend.  It certainly makes staying in the U.S. card scene wayyy easier.

I never have incoming wires, so I can't comment on that.

Offline ExGingi

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Re: TransferWise
« Reply #45 on: May 24, 2021, 01:15:23 PM »
It's a "Hitechzone" account.  Supposedly the benefit expires after a few years, I hope they will be willing to extend.  It certainly makes staying in the U.S. card scene wayyy easier.

I never have incoming wires, so I can't comment on that.

Seems like it's a 3 year promotional benefit.

https://www.fibi.co.il/wps/portal/FibiMenu/Marketing/Private/FibiAccount/AccountTypes/Hightec

Quote
הטבות במט"ח: ההטבה תינתן למשך 3 שנים מיום ההצטרפות למבצע
פטור מעמלת חליפין
פטור מהעברות מט"ח לחו"ל ומחו"ל
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline moe8555

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Re: TransferWise
« Reply #46 on: May 24, 2021, 01:26:45 PM »
Seems like it's a 3 year promotional benefit.

https://www.fibi.co.il/wps/portal/FibiMenu/Marketing/Private/FibiAccount/AccountTypes/Hightec

Yup, let's hope there's no lifetime language on it  ;D

Offline ExGingi

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Re: TransferWise
« Reply #47 on: May 24, 2021, 04:11:34 PM »
Yup, let's hope there's no lifetime language on it  ;D

Some cursory reading around the internet seemed to indicate that there's a certain level of activity or paycheck deposit required. All of this might be a non-issue for people living (and working) there, but for myself as someone living in the US that only needs an Israeli account for 1 or 2 transfers per month (or less) this might not be practical.

It seems like the only Israeli bank that doesn't charge incoming wire fees on International wires is בנק הדואר. I'm not sure if I will be able to open up an account with them, but I definitely intend on trying on my next visit.
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline Essen est zich

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Re: TransferWise
« Reply #48 on: May 24, 2021, 09:36:20 PM »
What's the best way to transfer CAD to USD (from Canadian bank to American)?
Shloffen Shloft Zich

Offline Yehudaa

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Re: TransferWise
« Reply #49 on: May 24, 2021, 10:26:10 PM »
What's the best way to transfer CAD to USD (from Canadian bank to American)?
I use Transferwise. I've heard positive reviews about Revolut too.

Offline moe8555

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Re: TransferWise
« Reply #50 on: May 25, 2021, 12:02:04 AM »
Some cursory reading around the internet seemed to indicate that there's a certain level of activity or paycheck deposit required.

Yes, it requires direct deposit and 2K monthly use on the bank CC (not a problem to MS with the various free Israeli P2P payment apps).

Offline ExGingi

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Re: TransferWise
« Reply #51 on: June 13, 2021, 05:29:33 AM »
Some cursory reading around the internet seemed to indicate that there's a certain level of activity or paycheck deposit required. All of this might be a non-issue for people living (and working) there, but for myself as someone living in the US that only needs an Israeli account for 1 or 2 transfers per month (or less) this might not be practical.

It seems like the only Israeli bank that doesn't charge incoming wire fees on International wires is בנק הדואר. I'm not sure if I will be able to open up an account with them, but I definitely intend on trying on my next visit.

I went today to a post office to try to open up an account. They refused to do it without a T.Z.
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline ExGingi

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Re: TransferWise
« Reply #52 on: June 13, 2021, 02:06:30 PM »
I went today to a post office to try to open up an account. They refused to do it without a T.Z.

Manager intervened and account opened.
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline ExGingi

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Re: TransferWise
« Reply #53 on: June 14, 2021, 05:51:58 PM »
Manager intervened and account opened.

Update: tried to log in online today and got an error. Called their phone line. Had to speak to two agents, one on online support (who said there's a block on the account) and another in account services. The guy from account services explained that the procedure for an Israeli citizen who is a non-resident and therefore ineligible for a T.Z. is to get a letter from Misrad Hapnim stating so (ineligible for T.Z. due to non-residency), and then account will be unblocked. He said it's a very common thing. If only they would notify the clerks at the local offices of the procedure, a lot of time would be saved.

On a side note, while opening the account the clerk noted that I have the same DOB as her husband. She worked hard and long to open the account, so we got into a friendly conversation, at the end of which I told her to give regards to her husband from his twin brother. When she commented on how friendly we became after a rough start, and that we have something in common, I said to her that the next thing would be if she shared a birthday with my wife. Lo and behold, she was born on the exact same day as my wife.
 
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline AsherO

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Re: TransferWise
« Reply #54 on: June 14, 2021, 06:50:42 PM »
Update: tried to log in online today and got an error. Called their phone line. Had to speak to two agents, one on online support (who said there's a block on the account) and another in account services. The guy from account services explained that the procedure for an Israeli citizen who is a non-resident and therefore ineligible for a T.Z. is to get a letter from Misrad Hapnim stating so (ineligible for T.Z. due to non-residency), and then account will be unblocked. He said it's a very common thing. If only they would notify the clerks at the local offices of the procedure, a lot of time would be saved.

On a side note, while opening the account the clerk noted that I have the same DOB as her husband. She worked hard and long to open the account, so we got into a friendly conversation, at the end of which I told her to give regards to her husband from his twin brother. When she commented on how friendly we became after a rough start, and that we have something in common, I said to her that the next thing would be if she shared a birthday with my wife. Lo and behold, she was born on the exact same day as my wife.

That’s creepy.
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Offline lcm

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Re: TransferWise
« Reply #55 on: June 15, 2021, 12:09:15 PM »
Update: tried to log in online today and got an error. Called their phone line. Had to speak to two agents, one on online support (who said there's a block on the account) and another in account services. The guy from account services explained that the procedure for an Israeli citizen who is a non-resident and therefore ineligible for a T.Z. is to get a letter from Misrad Hapnim stating so (ineligible for T.Z. due to non-residency), and then account will be unblocked. He said it's a very common thing. If only they would notify the clerks at the local offices of the procedure, a lot of time would be saved.

On a side note, while opening the account the clerk noted that I have the same DOB as her husband. She worked hard and long to open the account, so we got into a friendly conversation, at the end of which I told her to give regards to her husband from his twin brother. When she commented on how friendly we became after a rough start, and that we have something in common, I said to her that the next thing would be if she shared a birthday with my wife. Lo and behold, she was born on the exact same day as my wife.
Um, do you share a wedding anniversary?

Offline ExGingi

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Re: TransferWise
« Reply #56 on: June 15, 2021, 12:15:19 PM »
Um, do you share a wedding anniversary?

I didn't think to inquire at that moment, only thought about it once I left. Though I highly doubt it. If I'm ever there again I will ask.
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline Yehudaa

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Re: TransferWise
« Reply #57 on: August 01, 2022, 05:12:48 PM »
Hello *****,

Some of our fees are increasing on 01 September, 2022 on routes to:

Send money from USD, CHF, CAD, JPY, HUF, MYR, TRY, INR, SEK, PLN, CZK, DKK, NOK and RON to any currency.
Send money to USD, INR, THB, PHP, IDR, MYR, MXN, PLN, PKR, KRW, VND, MAD and HUF from any currency.

Why is this happening?

Unfortunately, markets have been more volatile recently, which makes it more expensive for us to buy and sell currencies — so we need to raise our fees to cover those costs.

We continue to sustainably invest in our infrastructure so you can move money faster and more conveniently. We need to reflect this in our price today, to help us bring down the cost of moving money in the future.

We know that this isn't great news, and we're sorry about that. We'll try to bring our fees back down as soon as we can.

Read more about when our price changes will apply to you.

Check how much you’ll pay for your next transfer

Thanks,
The Wise Team

Offline pghtown

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Re: TransferWise
« Reply #58 on: August 31, 2022, 07:59:56 AM »
Can I transfer money to an Israeli bank account with WISE using a US based credit card without additional fees for using my US credit card?  Will the US bank charge an additional fee for this transaction?  I have Chase cards without int'l fees.

Offline yfr bachur

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Re: TransferWise
« Reply #59 on: August 14, 2023, 04:20:47 PM »
Doesn't work like that unfortunately.Wise doesnt allow sending ILS to USD - unless I'm doing something wrong

looks like they now allow ILS to USD transfers