Author Topic: TransferWise  (Read 3038 times)

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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.

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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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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.

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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

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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

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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!
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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)?

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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.

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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).

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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

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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!
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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

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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.

Thatís creepy.

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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?

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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