Author Topic: Best way to transfer money to a kid in Israel without sending cash? Ideas?  (Read 1915 times)

Online ExGingi

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Re: Best way to transfer money to a kid in Israel without sending cash? Ideas?
« Reply #15 on: September 17, 2018, 11:50:21 PM »
If eligible USAA can be a great option.
They reimburse $30 a month IIRC in FX fees/ATM fees.
-1
USAA only reimburses ATM fees, and IINM actually charge FX fees. Itís a great bank for domestic use, but for international go with Schwab (Schwab actually are aware that many, if not most, people that open a checking account with them do it for the foreign ATM access).
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Offline davidrotts63

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Re: Best way to transfer money to a kid in Israel without sending cash? Ideas?
« Reply #16 on: September 17, 2018, 11:51:38 PM »
-1
USAA only reimburses ATM fees, and IINM actually charge FX fees. Itís a great bank for domestic use, but for international go with Schwab (Schwab actually are aware that many, if not most, people that open a checking account with them do it for the foreign ATM access).
I stand corrected.
I withdrew USD in a foreign country and was reimbursed the ATM fee which confused me...
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Offline myi

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Re: Best way to transfer money to a kid in Israel without sending cash? Ideas?
« Reply #17 on: September 18, 2018, 12:57:32 AM »
Like mentioned up-thread go for a Charles Schwab Bank account. Now should you go with TD you would need to have a premier checking account with them, which requires 2500 in the account, meaning a daily balance of 2.5k,being that your send 2k monthly doesn't seem like a problem for 2500 to be in the account on a daily basis, now regarding the atm, thereís a fee for a few shekel, and its false info if anyone tells you that they will reimburse you as that is 100% false.
 How td and most banks work is they see how much you took out from the atm and refund you the difference, to explain what I mean; letís say I take out $100 from and ATM which charges $2.50 fee for using their ATM so now my total withdrawal would be $102.50 so automatically at the end of the month td would reimburse you the 2.50 as an ATM doesnít dispense single dollarís bills and coins so it has to be a fee. Now with shekels for some odd reason they chose not to show the conversion rate to the second you made the purchase just like a credit card does for an fx transaction, so the only way one would get back the fees for fx atm fees would be to show the receipts for each withdrawal and let the banker in the branch make themselves crazy.

  If they have a chase branch near you can open one and transfer funds via send money or chase Quick-pay or the feature called Zelle, to your TD bank account.
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Offline JACKBLUE

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Re: Best way to transfer money to a kid in Israel without sending cash? Ideas?
« Reply #18 on: September 18, 2018, 07:43:50 AM »
Investors bank is also an option

Offline gubevo18

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Re: Best way to transfer money to a kid in Israel without sending cash? Ideas?
« Reply #19 on: September 18, 2018, 07:48:51 AM »
Do you have CPC?
Just got an email from chase saying they reimburse all ATM fees worldwide.

Offline jmz

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Re: Best way to transfer money to a kid in Israel without sending cash? Ideas?
« Reply #20 on: September 18, 2018, 08:22:41 AM »
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.
Try a brokerage account. I use td Ameritrade   I have an ATM card from them and I get reimbursed for the fees.
I don't have a td near me in the states either and I was able to open the account online.  Just request an ATM card and checks and double check before you open that they'll cover the ATM fees.
Good luck

Offline greatluck

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Re: Best way to transfer money to a kid in Israel without sending cash? Ideas?
« Reply #21 on: September 20, 2018, 12:07:45 PM »
Do you have CPC?
Just got an email from chase saying they reimburse all ATM fees worldwide.
can you provide a screenshot?

Offline yakrot

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Best way to transfer money to a kid in Israel without sending cash? Ideas?
« Reply #22 on: September 20, 2018, 12:10:27 PM »
can you provide a screenshot?
I was in Israel last year and used my cpc debit with no issues

Offline greatluck

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Re: Best way to transfer money to a kid in Israel without sending cash? Ideas?
« Reply #23 on: September 20, 2018, 12:12:25 PM »
what is a cpc?

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Offline greatluck

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Re: Best way to transfer money to a kid in Israel without sending cash? Ideas?
« Reply #25 on: September 20, 2018, 12:30:36 PM »
Chase Private Client
I got an invite, can I just open or do I need to have heavy money?

Offline crunch

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Re: Best way to transfer money to a kid in Israel without sending cash? Ideas?
« Reply #26 on: September 27, 2018, 10:44:25 AM »
Just wanted to say "thank you" to all of those who responded.  I have set up an account based on the advice provided here and although the Capital one 360 was the best for my needs, it's always good to have other options in my pocket as policies and programs are all too often subject to change.  A good Moed and a good Kvittel to all.

Offline grodnoking

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Re: Best way to transfer money to a kid in Israel without sending cash? Ideas?
« Reply #27 on: September 27, 2018, 11:16:06 AM »
Like mentioned up-thread go for a Charles Schwab Bank account. Now should you go with TD you would need to have a premier checking account with them, which requires 2500 in the account, meaning a daily balance of 2.5k,being that your send 2k monthly doesn't seem like a problem for 2500 to be in the account on a daily basis, now regarding the atm, thereís a fee for a few shekel, and its false info if anyone tells you that they will reimburse you as that is 100% false.
 How td and most banks work is they see how much you took out from the atm and refund you the difference, to explain what I mean; letís say I take out $100 from and ATM which charges $2.50 fee for using their ATM so now my total withdrawal would be $102.50 so automatically at the end of the month td would reimburse you the 2.50 as an ATM doesnít dispense single dollarís bills and coins so it has to be a fee. Now with shekels for some odd reason they chose not to show the conversion rate to the second you made the purchase just like a credit card does for an fx transaction, so the only way one would get back the fees for fx atm fees would be to show the receipts for each withdrawal and let the banker in the branch make themselves crazy.

  If they have a chase branch near you can open one and transfer funds via send money or chase Quick-pay or the feature called Zelle, to your TD bank account.
Re: TD If you go to a bank which charges the fee separate than you won't have that issue 
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Offline bochur613

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Re: Best way to transfer money to a kid in Israel without sending cash? Ideas?
« Reply #28 on: September 27, 2018, 11:34:32 AM »
I just left Israel, this worked very well for me. Open a Charles Shcwab online bank account and it has unlimited free ATM withdrawals (any ATM in the world) and if the ATM charges a fee THEY will reimburse YOU! You can make a free transfers between any bank and them. Outstanding Customer service. Hatzlocha

Offline emjee

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Re: Best way to transfer money to a kid in Israel without sending cash? Ideas?
« Reply #29 on: October 02, 2018, 03:58:13 AM »
Just wanted to say "thank you" to all of those who responded.  I have set up an account based on the advice provided here and although the Capital one 360 was the best for my needs, it's always good to have other options in my pocket as policies and programs are all too often subject to change.  A good Moed and a good Kvittel to all.
Great choice . I advise all my family who send their kids to israel to use it. Its all around a good option for your situation. You have a branch by you and you can always send the money via p2p/zelle which will instantly be available to them.