Overseas Money Transfer

[Phillippe M]

Not to sure if this this in the right area or not, but we had made one of the EU claims for delayed/cancelled flights with MH (has only take 3 months to hear back from them), and they have now requested bank details to transfer either EUR (or MYR) to our account.

Does anyone have any good recommendations on the best way to do this. We have accounts with CBA, WBC, ING, & Citi.

In a perfect world it would be great if they could just give us the EUR as we are heading over there again in January.

Thanks heaps in advance!!
Phillippe

 

[JohnK]

I have only ever used CBA for overseas money transfers. I think fees will roughly be the same.

Interesting you didn't get the option to be paid in AUD. I lodged a damaged bag claim with CX in BKK and it was paid from SYD in AUD.

 

[Phillippe M]

Thanks heaps for that John, I will ask them if the Sydney office could pay it in AUD.

 

[Quickstatus]

Not to sure if this this in the right area or not, but we had made one of the EU claims for delayed/cancelled flights with MH (has only take 3 months to hear back from them), and they have now requested bank details to transfer either EUR (or MYR) to our account.

Does anyone have any good recommendations on the best way to do this. We have accounts with CBA, WBC, ING, & Citi.

In a perfect world it would be great if they could just give us the EUR as we are heading over there again in January.

Thanks heaps in advance!!
Phillippe

As the other party is paying it really doesnt matter which bank you want to put the money into. you will get screwed by the local bank to convert to local currency.

You will need the bank's SWIFT code in addition to the Bank name, branch address, account number. BSB number is only unique to Australian payment system.

For example Westpac Bank is WPACAU2S


SWIFT = "Society for Worldwide Interbank Financial Telecommunication"

 

[EestiTiger]

Do you know about these guys https://transferwise.com/

They are an Estonian startup and I have used them a couple of times and am very impressed. I think I heard they are in Australia at the moment talking to big Malcolm and co to spread the innovation culture...

 

[Viridianne]

Do you know about these guys

https://transferwise.com/

They are an Estonian startup and I have used them a couple of times and am very impressed. I think I heard they are in Australia at the moment talking to big Malcolm and co to spread the innovation culture...

Thanks for sharing about Transferwise. I was considering XE Trade but Transferwise seems to have lower fees.

 

[Cynicor]

I wonder if they are related to the Estonian ID theft ring that had some arrests made recently in WA?

My ID thieves used BellFX but I'm not sure if they got a good deal or not.

 

[sezza]

Western union is good for money transfers too.