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Which countries have local banks that don’t know how to do international transfers?
by cloudie78 1mo ago
Which countries have local banks that don’t know how to do international transfers?
- kalleboo 1mo agoMy local banks know how to international transfers but I have to go into a bank office and fill out a paper form. Receiving international transfers they call and ask if I wish to accept it, if I can't answer the phone right then the transfer gets delayed. If the sender does not include my middle name, I have to come into the office and sign an affidavit that this person with this different name is also me. Each time.
- cloudie78 1mo agoThank you for sharing your experience. I don’t know what your local banks are and what country you’re talking about.
- deleted 1mo ago[deleted]
- dewey 1mo agoWe were having a lot of problems with that in Honduras, staff in the branch did not know how to do that, fees are extremely high and sometimes the bank system is just offline and you get sent home. There's a reason all these alternatives like Western Union etc. exist for this remittance use case. It was a big reality check for me usually living in Germany and having access to a lot of banks and modern neo-banks.
- FireBeyond 1mo agoOftentimes it's not necessarily that they don't know, but unless two international banks have a direct relationship, they have to use intermediary banks. Even my parent's large bank in Australia, when wiring me a gift towards my home purchase, had to go via an intermediary bank who could then forward-on to my bank.
- dumberquestions 1mo agoAs a freelancer, clients often simply refuse to use anything other than PayPal, I've faced that scenario dozens of times.