Using paypal to deposit money into foreign account

[Amby 490]

I was just trying to think up some ideas on how I could put money into Neil's account in the UK to cover his life insurance premiums without having to send his mom money every month. If he were to open a paypal account using his UK account as the "verified" account could we just add money to his paypal account and then deposit it into his UK bank account? It drive me crazy sending cash to his mom every few weeks because international money orders aren't available to the UK. anyone try this? are the fees huge?

[Peikko 1,575]

It can be done, and the fees aren't that huge it's a percantage, I forget what, but you can look it up on the paypal site, they are pretty up front with their fees.

Edited March 25, 2008 by Purple_Hibiscus

[mawilson 2,133]

I believe Wamu offers free international wire transfers.

[Amby 490]

there isn't one anywhere near me. my credit union doesn't do it which is odd and I also have an account with US bank and they charge $40!

[DeadPoolX 9]

I believe Wamu offers free international wire transfers.

They do, but from what I understand, you have to physically go into the bank in order to do it. While that isn't too difficult, it's not as simple as clicking a few buttons online from the comfort of your home.

[Dr. Obvious 49]

there isn't one anywhere near me. my credit union doesn't do it which is odd and I also have an account with US bank and they charge $40!

Mine does the same thing. One thing I never took for granted about Germany was the ease of banking.

[DJ and BJ 0]

Using paypal would be easier.

I have a business account with paypal, and have two debit cards. One for myself, and one for my SO in his name. I mailed him the other debit card, and he can just go to any ATM in the world and withdraw the money, in his own currency.

The only fees paid are atm withdrawal fees.

It's worth trying.

there isn't one anywhere near me. my credit union doesn't do it which is odd and I also have an account with US bank and they charge $40!

[Heracles 417]

There is another way. Open up a HSBC or citibank account and send the in law an ATM card. This way you just transfer the cash for free to the account and then his mom can simply go to an ATM there, preferably using the the same company's atm, and withdraw the cash. It will save you a lot of cash and you will also get a better exchange rate.

[Leedah 22]

I would suggest getting a Netspend card.

I gave my hubby one card when I last visited. Whenever I want to send money, I just go to my account and transfer it to his account online. It takes like 2 seconds to do and it goes on his card instantly without any transfer fee's or other cheesy loopholes.

www.mynetspendcard.com

Use the following referral code to get $5 bucks to go in your account:

6988344389

Hope this helps

Peace out

Leedah

[Carlawarla 1]

Do you have an account in the UK? You can look at Customs House and transfer money free between the two countries. You could perhaps have automatic deductions coming from the UK account to cover those payments. Replenishing the money into the UK account from the US can be accomplished through Customs House.

[GaryC 7]

When Luz was still in PI I was sending her money every month. The Western Union fees were eating me alive! So I just got a second ATM card from my bank and sent it to her. She could just go to an ATM near her and withdraw what she needed. The fee was only $2 but the exchange rate wasn't very good. It was still way cheaper than WU though.