Author Topic: Transfer Money from Israel to US  (Read 5037 times)

Offline Ergel

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Re: Transfer Money from Israel to US
« Reply #20 on: May 17, 2020, 04:07:42 PM »
Just to clarify, not looking to send cash (as in physical currency). Will need a significant amount legally converted and sent.
Transferwise...spoke to local money changers on the ground here, and when I mention Transferwise, they say they can't compete
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Offline ExGingi

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Re: Transfer Money from Israel to US
« Reply #21 on: May 17, 2020, 04:25:14 PM »
Transferwise...spoke to local money changers on the ground here, and when I mention Transferwise, they say they can't compete

I'm on Transferwise.com website now, and don't really see an option to convert ILS to USD sending from Israel to the US. Maybe because I'm using a US based account? Would I need to set up an account with Transferwise in Israel?
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline Ergel

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Re: Transfer Money from Israel to US
« Reply #22 on: May 17, 2020, 04:27:01 PM »
I'm on Transferwise.com website now, and don't really see an option to convert ILS to USD sending from Israel to the US. Maybe because I'm using a US based account? Would I need to set up an account with Transferwise in Israel?
Hmm....seems like you are correct. Never noticed that before

Quote
We can't send money between these currencies
We're working on it. Sign up to get notified, and we’ll let you know as soon as we can.
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Offline Ergel

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Re: Transfer Money from Israel to US
« Reply #23 on: May 17, 2020, 04:27:24 PM »
Then try Xoom, though they may be a pain to get your account verified
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Offline ExGingi

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Re: Transfer Money from Israel to US
« Reply #24 on: May 17, 2020, 04:31:27 PM »
Then try Xoom, though they may be a pain to get your account verified

Would that be more cost effective than Israeli banks?

ETA: using a VPN with an Israeli server, just in case that was the issue, but I still can't see an option to send ILS to USD on xoom.com
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline ExGingi

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Re: Transfer Money from Israel to US
« Reply #25 on: May 17, 2020, 04:39:56 PM »
Does anyone have any experience with https://www.covercy.com/transfer-funds ?
I've been waiting over 5 years with bated breath for someone to say that!
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Offline Ergel

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Re: Transfer Money from Israel to US
« Reply #26 on: May 17, 2020, 04:42:34 PM »
Would that be more cost effective than Israeli banks?

ETA: using a VPN with an Israeli server, just in case that was the issue, but I still can't see an option to send ILS to USD on xoom.com
Yuck. Seems like all these services don't offer ILS to USD. Sorry :(
Try World First, there website allows to enter ILS to USD after logging in. The rate the website quotes is 1 ILS = 0.280222 USD
I'm pretty sure that will beat any bank
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Offline ExGingi

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Re: Transfer Money from Israel to US
« Reply #27 on: May 17, 2020, 04:44:23 PM »
I'm reading somewhere a suggestion to open up an Israeli IB account than do the conversion there.

Does anyone have experience with this? Would it work if I opened up a US IB account and had ILS transferred into it? Or would the person transferring to me from Israel need to open an IB account?
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline m65

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Re: Transfer Money from Israel to US
« Reply #28 on: May 17, 2020, 05:50:52 PM »
I'm reading somewhere a suggestion to open up an Israeli IB account than do the conversion there.

Does anyone have experience with this? Would it work if I opened up a US IB account and had ILS transferred into it? Or would the person transferring to me from Israel need to open an IB account?
dont know any specific info about this option, but i do know that the israeli banks eat u alive on the conversion rates, no difference which direction u r sending. from more than 1 experience.

Offline israshot

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Re: Transfer Money from Israel to US
« Reply #29 on: May 18, 2020, 05:56:01 PM »
I'm on Transferwise.com website now, and don't really see an option to convert ILS to USD sending from Israel to the US. Maybe because I'm using a US based account? Would I need to set up an account with Transferwise in Israel?

If you look on their website, that's what they write for ILS-USD:
Quote
We can't send money between these currencies
We're working on it. Sign up to get notified, and we’ll let you know as soon as we can.

I personally use Revolut to send money to EUR,ILS,CAD,USD and the fees are ridiculously low.

Offline Ergel

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Re: Transfer Money from Israel to US
« Reply #30 on: May 18, 2020, 06:00:50 PM »
If you look on their website, that's what they write for ILS-USD:
I personally use Revolut to send money to EUR,ILS,CAD,USD and the fees are ridiculously low.
Can you see what it would cost to transfer 15K CAD to ILS? Want to compare to what I'm currently paying
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Offline israshot

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Re: Transfer Money from Israel to US
« Reply #31 on: May 18, 2020, 06:03:01 PM »
Can you see what it would cost to transfer 15K CAD to ILS? Want to compare to what I'm currently paying
.

Offline ExGingi

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Re: Transfer Money from Israel to US
« Reply #32 on: May 18, 2020, 06:07:23 PM »
I personally use Revolut to send money to EUR,ILS,CAD,USD and the fees are ridiculously low.

Looks like Revolut won't work for my purposes:

I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline ExGingi

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Re: Transfer Money from Israel to US
« Reply #33 on: May 18, 2020, 06:08:42 PM »
Can you see what it would cost to transfer 15K CAD to ILS? Want to compare to what I'm currently paying

Their free plan allows for transfers up to US$6,500/month. I would guess that you either pay a fee for larger transfers or have to enroll in their premiums service (assuming it's available).
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline israshot

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Re: Transfer Money from Israel to US
« Reply #34 on: May 18, 2020, 06:10:19 PM »
Looks like Revolut won't work for my purposes:


My bad. I thought they are allowing already US accounts.
I personally opened it while in Europe and now I can use it across all my accounts in different countries.

Offline israshot

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Re: Transfer Money from Israel to US
« Reply #35 on: May 18, 2020, 06:11:52 PM »
Their free plan allows for transfers up to US$6,500/month. I would guess that you either pay a fee for larger transfers or have to enroll in their premiums service (assuming it's available).
Yes, they have a premium service about $10/m.

Offline ExGingi

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Re: Transfer Money from Israel to US
« Reply #36 on: May 18, 2020, 06:30:50 PM »
My bad. I thought they are allowing already US accounts.
I personally opened it while in Europe and now I can use it across all my accounts in different countries.

They are allowing US accounts. But my need right now is for an Israeli account, to transfer funds from there to the US.
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline Ergel

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Re: Transfer Money from Israel to US
« Reply #37 on: May 18, 2020, 06:31:26 PM »
.
They beat Transferwise by a few hundred shekels.
Too bad I can't sign up
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Offline ExGingi

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Re: Transfer Money from Israel to US
« Reply #38 on: May 18, 2020, 06:38:36 PM »
They beat Transferwise by a few hundred shekels.
Too bad I can't sign up

Is sender and receiver one and the same person in your case? If so, will Covercy or InteractiveBrokers work for you?
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline Ergel

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Re: Transfer Money from Israel to US
« Reply #39 on: May 18, 2020, 07:08:51 PM »
Is sender and receiver one and the same person in your case? If so, will Covercy or InteractiveBrokers work for you?
Yes
Don't know what those are
Life isn't about checking the boxes. Nobody cares.