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US Banks changing wire transfer policy


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Have you contacted your bank branch directly and asked them about this? They can hopefully verify your identity by telephone.

Maybe some other TV members can advise which U.S. based banks facilitate online SWIFT transfers, and which banks don't.

The branch manager came back from vacation and responded and they are very happy to do the wire transfer for me over the telephone. Not a big change from sending a form in and might even be easier in the long run. The important point here is that they have increased their attention to establishing your identity so personal visits to the branch to do a wire transfer are expected. I luckily set up a secret word password for doing transfers 9 years ago which they still have on file, and they know me personally from years of banking there.

Appreciate all the suggestions on the thread.

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Absolutely the least expensive way I have found to move money into the country is through the use of a Visa card and a no fee bank counter cash advance.

Yawn. This subject has been hacked to death long before your 'rediscovery' of matters. Schwab has been now, for several years, the key focus of ideal plastic to use over here, what with being a superior Visa (vice MC), absorbing the Visa 1% foreign transaction fee, having no add on foreign transaction fees of its own, and reimbursing ATM owner's fees. Yes, this plastic is the most efficient way to get baht for your dollars over here. That you may not be able to get your cash over the counter has been shown to be problematic for some. But whether counter or ATM machine, your Schwab card gets you the best rate.

That you show up, claim that you have discovered the one and only way to get the best deal -- is pretty boring news, considering all the other threads that have made this discovery. But, when you say "Visa gets 1/2% over the interbank rate, which gives the consumer the best possible rate anywhere" -- well, I for one (and possibly the only one) gets curious about your claim.

But, yeah, running all those comparative FX numbers can also be a bore. Especially when they turn out to not support any 1/2% over the interbank rate claim. And once more showing Visa's superiority to MC is also boring. As are all these repetitive threads.

That you've provided us with your Schwab knowledge is truly enlightening and revealing (NOT!).

I have nothing further to add; I'm signing off this thread. But I hoped I may have helped somebody.

You added nothing to what's already known about this subject. But, glad you're signing off, as that will limit any more repetitive BS.

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