Transferring money

Bill123 · #1 (**permalink**) 10-09-2002, 05:53 PM

I was checking on the facets of transferring $1,000 to my lady friend in Colombia. And I wanted her to get the money in dollars.

Western Union was a $85 fee.

Moneygram is a $65 fee, but you get a 5% discount from that.

Transferring money from my bank to her account there is $42.

Does anyone have anything to add to this, i.e., other services or methods, etc.?

Junfan · #2 (**permalink**) 10-09-2002, 08:05 PM

Bill,
If you are talking a grand, you are obviously at the point where you should set up a seperate bank account, and send her the ATM card, PIN under seperate cover. She will get great exchange rate and you will be able to control the flow of funds in a very economical matter,,,,,trust me, I know.

But why the hell would you want her to get greenbacks? They get screwed down there big time.

Chao,
Mike

Bill123 · #3 (**permalink**) 10-10-2002, 12:15 AM

Mike,

It is only a one-time transfer, not a month to month thing. And the reason I want it in dollars is so that she can bring them back here when she comes here. I was advised to do this. This, along with a letter to the INS, helps in getting her I-94 stamped with six months instead of possibly one. She is on a tourist visa and the immigration officer has the damn discretion to grant whatever time he wants...so I am just stacking the deck! It beats having to file for an extension to the visa after a very short stay. At least this is my plan anyway....
so, if anyone knows of an alternative way to get her the money, let me know. I even thought of sending it down with someone going to Bogota.

One interesting thing I learned is that dollars can be purchased on the black market down there very easily, and the rate is much better than the legal rate. So I asked a friend of mine down there if she would buy some dollars and give them to my lady. I would then deposit an equal amount in her U.S. bank account, which she has. I am waiting for her response.

Bill123 · #4 (**permalink**) 10-10-2002, 02:16 PM

I just found something totally interesting. Citibank offers a money transfer service, similar to PayPal, called C2it.com

You can transfer money easily to not only people in the U.S. but to over 100 countries. And it is only $10 per transaction, which is much less than standard wire transfers or Western Union or Moneygram.

The one downside....

Is that Colombia is not one of the countries yet. Damn...

tranquilizar · #5 (**permalink**) 10-31-2002, 11:40 AM

Hey JunFan, my EX girlfriend deleted your info. Either Give me a call or send me an email so I can ask you a couple questions about ATM/Debit cards in Cartagena. tranquilizar@hotmail.com

***HonkyTonk*** · #6 (**permalink**) 12-13-2002, 06:43 AM

Bill, what is Moneygram and where do I get it?

Bill123 · #7 (**permalink**) 12-13-2002, 12:30 PM

As I said above, transfering money from your bank account using a wire transfer is probably the cheapest, but if you want to look into Moneygram, go to:

http://www.moneygram.com/

Also, by signing up, you will get a card that allows you a 5% discount.

Either alternative is cheaper than Western Union.

I am waiting for the day that PayPal or C2it begins to offer transfer services to Colombia.