Int'l wire transfer

[rogerluli]

Wells Fargo has a business relationship with Agricultural Bank of China. You can wire money directly from Wells Fargo to an account Agricultural Bank. You can transfer up to US$1000 a day and the fee is only $8.00. My wife and I are considering this as well.

 

mag0514

 

There is no business relationship between the banks required to send international wire transfers...We've sent large ones using Chase bank to BOC for $40 (was $20 in 2006)...

[Scott@Hong]

For transactions in currencies other than U.S. Dollars, Bank of America charges its account holders an International Transaction Fee for purchases or ATM cash withdrawals regardless of whether the transaction occurs within the Global ATM Alliance or outside the Global ATM Alliance. For each converted ATM cash withdrawal, this International Transaction Fee is 1% of the U.S. Dollar Amount, and for each converted purchase, this International Transaction Fee is 3% of the U.S. Dollar Amount. This fee appears as a separate item on the Bank of America account holder's banking statement for each international transaction.

Source:

http://en.wikipedia.org/wiki/Global_ATM_Alliance

 

 

Should quote the entire source

 

Bank of America Account Holders[1]

The International ATM Access Fee for Bank of America customers is waived for ATMs in the Global ATM Alliance within specified coverage areas.

 

 

[edit] Coverage Areas

For Bank of America account holders:

 

Coverage Area Bank Name

North America Bank of America

United Kingdom Barclays

France BNP Paribas

China China Construction Bank

Germany Deutsche Bank 24

Mexico Santander Serfin

Canada Scotiabank

Australia and New Zealand Westpac Bank

 

Outside of the Global ATM Alliance, Bank of America charges its account holders an International ATM Access Fee of US$5.00 for withdrawals, deposits, transfers, payments, and balance inquiries.

 

 

[edit] Other Fees

For transactions in currencies other than U.S. Dollars, Bank of America charges its account holders an International Transaction Fee for purchases or ATM cash withdrawals regardless of whether the transaction occurs within the Global ATM Alliance or outside the Global ATM Alliance. For each converted ATM cash withdrawal, this International Transaction Fee is 1% of the U.S. Dollar Amount, and for each converted purchase, this International Transaction Fee is 3% of the U.S. Dollar Amount. This fee appears as a separate item on the Bank of America account holder's banking statement for each international transaction.

 

What we have been saying is this foriegn transaction fee is not being charged on Debit and Check cards, only on Credit Cards

[whome?]

For transactions in currencies other than U.S. Dollars, Bank of America charges its account holders an International Transaction Fee for purchases or ATM cash withdrawals regardless of whether the transaction occurs within the Global ATM Alliance or outside the Global ATM Alliance. For each converted ATM cash withdrawal, this International Transaction Fee is 1% of the U.S. Dollar Amount, and for each converted purchase, this International Transaction Fee is 3% of the U.S. Dollar Amount. This fee appears as a separate item on the Bank of America account holder's banking statement for each international transaction.

Source:

http://en.wikipedia.org/wiki/Global_ATM_Alliance

 

 

Should quote the entire source

 

Bank of America Account Holders[1]

The International ATM Access Fee for Bank of America customers is waived for ATMs in the Global ATM Alliance within specified coverage areas.

 

 

[edit] Coverage Areas

For Bank of America account holders:

 

Coverage Area Bank Name

North America Bank of America

United Kingdom Barclays

France BNP Paribas

China China Construction Bank

Germany Deutsche Bank 24

Mexico Santander Serfin

Canada Scotiabank

Australia and New Zealand Westpac Bank

 

Outside of the Global ATM Alliance, Bank of America charges its account holders an International ATM Access Fee of US$5.00 for withdrawals, deposits, transfers, payments, and balance inquiries.

 

 

[edit] Other Fees

For transactions in currencies other than U.S. Dollars, Bank of America charges its account holders an International Transaction Fee for purchases or ATM cash withdrawals regardless of whether the transaction occurs within the Global ATM Alliance or outside the Global ATM Alliance. For each converted ATM cash withdrawal, this International Transaction Fee is 1% of the U.S. Dollar Amount, and for each converted purchase, this International Transaction Fee is 3% of the U.S. Dollar Amount. This fee appears as a separate item on the Bank of America account holder's banking statement for each international transaction.

 

What we have been saying is this foriegn transaction fee is not being charged on Debit and Check cards, only on Credit Cards

So your not getting charged but you should??

[whome?]

Wells Fargo has a business relationship with Agricultural Bank of China. You can wire money directly from Wells Fargo to an account Agricultural Bank. You can transfer up to US$1000 a day and the fee is only $8.00. My wife and I are considering this as well.

 

mag0514

 

There is no business relationship between the banks required to send international wire transfers...We've sent large ones using Chase bank to BOC for $40 (was $20 in 2006)...

This is my experience too. I can send from my bank to BOC, CCB, Agricultural Bank, China Merchants, etc. any sum I want for a flat fee of $40. Even can request the wire transfer from here in China over the phone.