My Bank Won´t Send To Exchange4Free

[PaulBee]

My bank, which is outside Argentina, won´t wire my funds to Exchange4Free,
because that is sending money to a third party. Yet they send to Western
Union.

Has anyone else had a problem with their bank refusing to wire money
to Exchange4Free ?

By the way, Exchange4Free has been most co-operative in trying to
make the transaction work.

 

[Farenheit]

Which bank is is it? Sounds strange that you can't send money to a third party? That's not a normal banking rule...

 

[allforepar]

That looks like a significantly worse rate than even Xoom, which is terrible. Why would you even be considering using them?

 

[PaulBee]

It´s Scotiabank Canada. It´s the branch manager who won´t send the money - in
fact, he has asked me not to bring the topic up again. We are waiting to hear from
the bank president now.

Which bank is is it? Sounds strange that you can't send money to a third party? That's not a normal banking rule...

 

[PaulBee]

Unfortunately, Xoom is only for people with US bank accounts.

That looks like a significantly worse rate than even Xoom, which is terrible. Why would you even be considering using them?

 

[PaulBee]

Some one asked, in a message which I can´t find now, if I´d done the message
through her site. No, I´m sorry I didn´t know about her site.

I appreciate the time you folks are taking to reply to me !

 

[John.St]

My bank, which is outside Argentina, won´t wire my funds to Exchange4Free,
because that is sending money to a third party.

But, but, but, that's exactly what banks do most of the time. When they e.g. pay my bills, they send money to 3rd parties.

Have you got the 3rd party reason in writing?

 

[PaulBee]

John St, I´m glad that it´s not just me that finds the 3rd party rule odd. ( By
the way, do you think my comparison of Western Union and Exchange4Free
is valid ? )

I have emails from the bank stating that they can´t send my money
because the money is going to a third party. I then explained that
Exchange4Free is a money forwarding company just as Western
Union is (which Scotiabank Canada promotes).

The branch manager sent a message back to me asking me not to continue
requesting the bank do something which is against regulations.

But, but, but, that's exactly what banks do most of the time. When they e.g. pay my bills, they send money to 3rd parties.

Have you got the 3rd party reason in writing?

 

[John.St]

John St, I´m glad that it´s not just me that finds the 3rd party rule odd. ( By
the way, do you think my comparison of Western Union and Exchange4Free
is valid ? )

I have emails from the bank stating that they can´t send my money
because the money is going to a third party. I then explained that
Exchange4Free is a money forwarding company just as Western
Union is (which Scotiabank Canada promotes).

The branch manager sent a message back to me asking me not to continue
requesting the bank do something which is against regulations.

I have no idea which of Western Union or Exchange4Free is the better.

but you write "Western Union is (which Scotiabank Canada promotes)" - which may be the real problem, the bank getting a fee from WU.

My take:
Write to the branch manager that you appreciate their miserable service, which you will recommend to everybody you know.
Change bank.

 

[PaulBee]

John. St, thanks for your wise advice !

Exchange4Free gives far better exchange rates than Western Union
(which my bank promotes).