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Exchange4Free ..... Gone!!!!!!!!!!!!!


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#1
khairyexpat

khairyexpat
Exchange4Free was the only option I used in the past to send myself money from Canadian account.

Today, .......... big big surprise!
Can`t transfer money from Canada.

What are the alternatives?
I know Ria does not work for Canada either,  or am I wrong?

What to do?

#2
another

another
  • LocationPalermo
RBC international online money transfer - up to a max $2500 Can per day, the fee is $13.50 Can. Other banks should have similar options. The money arrives in local currency and there is a fee local bank charges as well - shouldn't be too much.

#3
khairyexpat

khairyexpat

nothingspecial, on 13 October 2016 - 01:11 PM, said:

RBC international online money transfer - up to a max $2500 Can per day, the fee is $13.50 Can. Other banks should have similar options. The money arrives in local currency and there is a fee local bank charges as well - shouldn't be too much.

Thanks for for the helpful tip.

Seems that you know how to use RBC to send money to Argentina.
Please elaborate more.
Do you send to ArgentineBankAccount or to MoreArgentina or ???
Any additional details of the full process or any other related info, ........ greatly appreciated.

#4
another

another
  • LocationPalermo
I didn't send it here, but i did send it to another central american country a few times, you'll need an Argentine Bank Account to transfer it to and make sure you ask the local bank what the fee is so you'll have no surprises.
When you log onto your RBC online banking and go into your chequing account you'll see a list of options on the right hand side of the page, one of them is 'International money transfer' and you just follow the steps. You will need the info below for the destination bank, including branch address:.


Pay Bills and Transfer Funds > International Money Transfer
Account Number Posted Image(if applicable); and
  • The name and location or SWIFT BIC/ABA Routing Number Posted Imageof the Destination Bank.
You can choose the option and keep going to the next page and entering info and then next page again and you'll see if you are missing some and then back out. If the local bank info is no good RBC check will catch it and tell you so, it will only transfer if SWIFT / ABA routing numbers are correct, this info has to be obtained from the local bank.

#5
Sockhopper

Sockhopper
RBC was the only Canadian bank I found in 2012 that participated in the UN/World Bank's development initiative to ensure a cheap and easy way to send money abroad in the form of 'international remittances' to a bank account (in country #3) from my Canadian bank account (country#1) to the bank account of a 'remittance recipient' in country #3 while I was resident in country #2 but had no bank account in #2. IBAN/SWIFT numbers needed, of course, to go the 'remittance route'.

I don't think I would have been permitted to send the money to myself in #2  even if I'd had a bank account in #2. I didn't try doing that and forget the rule on that. But I believe that the recipient has to be somebody else with a bank account that's outside Canada.

RBC's charge in 2012 per remittance transaction was $CAD13.50 to me -the same as what 'nothingspecial'  (and RBC's website) state it to be now..

RBC remits these to some 120 countries. Clearly, Arg is one. This facility was designed by the UN mainly so that developed countries participating in it could each provide its migrant workers an affordable method to wire some of their foreign earnings 'back home' regularly to their dependants in less developed countries. Why there's only one bank in Canada participating in this, I've no idea, darn. But it's not available in the US nor by using US dollars from RBS in Canada.to the best of my knowledge. RBC converts the $CAD to the currency of the recipient's country.

#6
Sockhopper

Sockhopper
TD and Nova Scotia perhaps initiated a similar service in 2013. Google "International Remittance" + restrict*. RBC Canada was the first in North America.

#7
another

another
  • LocationPalermo
I made the first transfer in 2010, the fee was the same 13.50. but the daily limit was a 1000 bucks. You are correct, you can not do it from your RBC US currency account, just from Canadian currency chequing. It did cross my mind that they might not allow transfer to oneself, but then some people can have identical names and surnames esp if it's in the family eh? Worst case scenario it can be transferred to a friend's account here. I'd be more concerned about the amount of money the bank here will charge as a 'fee'. If you do a transfer from abroad to a Canadian account to RBC the fee is 15 bucks ( used to be 10 ), but I am sure argentine bunk will have way more fun with our money...

#8
Sockhopper

Sockhopper
nothingspecial,
I've been surmising too about what you are re. the possibilities of sending such remittances to a bank  account of an acquaintance in my country #2 where I live. Sending one to my own account here could be a problem. The expectation of the facility is that you're sending it to somebody other than yourself abroad,  I'm not ready to test this  myself.

Regarding what an Arg bank would charge the recipient, I don't know. For the sake of your comparison, the country #3's bank account I sent mine to charged the recipient the equivalent of $CAD 10.42 flat per transaction. I included that sum for the recipient each time.

As you'd know, RBC states that how receiving banks treat these remittances is up to their country's laws.If Arg charges too high, that would hurt the very purpose of this facility.

Also, Arg would have to accept that the money will arrive as $AR. The sending bank does the currency conversion.

#9
another

another
  • LocationPalermo
I guess getting pesos is not an issue for the gentleman as he lives here permanently, the blue rate is barely any higher than official, but charges might be an issue, I know Costa Rica charges a percentage and it was shockingly high one, let's hope Argentina is more civilized in that respect...

#10
Bradly

Bradly
You might consider Bitcoin.

There are several pages to buy them with your bank account -- Coinbase.com, Circle.

Then you can use services like SatoshiTango to convert them into pesos. There are also other local folks/companies that buy/sell on LocalBitCoins.com.




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