DansDeals Forum > General Discussion
Best way to transfer money to a kid in Israel without sending cash? Ideas?
crunch:
What's the best way to send money to a child in Israel? I don't want her to worry about large amounts of cash and sending with family and friends puts a burden on them. Cash advances on credit cards are pricey. Ditto with wire transfers. We are looking at amounts totalling about $2000 a month. Your advice would be appreciated.
whacked1:
TD bank used to have very small fee to withdraw money in israel
not sure on current info though (i think its the same)
TimT:
--- Quote from: crunch on September 17, 2018, 09:16:52 PM ---What's the best way to send money to a child in Israel? I don't want her to worry about large amounts of cash and sending with family and friends puts a burden on them. Cash advances on credit cards are pricey. Ditto with wire transfers. We are looking at amounts totalling about $2000 a month. Your advice would be appreciated.
--- End quote ---
https://forums.dansdeals.com/index.php?topic=19042.0
crunch:
Thanks Tim. There is some good advice on the thread you posted, but some of it is out of date. Banking laws in Israel have changed (due to folks who were kashering money) and interbank transfers have apparently gotten fairly complicated, not to mention fee heavy. I'm also dealing with a child who is, thank G-d, financially responsible. We tried transfers and ended up with huge costs. Cash advances via credit card cost between 3-5% of the advance amount, plus a 25%+ variable APR that starts as soon as the money leaves the ATM. The main issue is getting cash to cover rent and other bills that cannot be paid via credit card. So far the best bet seems to be a debit card with ATM withdrawals in Israel. Unfortunately, I have no local TD here in Baltimore which seems to be the choice on that thread. So, if anyone knows of a good resource for an account of that type, or a better/cheaper means of transfer, I would be grateful.
Thanks again for the ideas
sguitarist18:
Charles schwab has a checking account that I believe not only has no fees, but also reimburses ATM fees. Online bank.
Oh, and I think they'll even mail the debit card to israel, if necessary.
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