Wire transfers.

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  • May 12, 2013 at 5:47 pm #517922
    CARTER KELLEY
    Participant

    Please be advised that January 1st a new law went into effect in the U.S. that requires 30% of the wire transfer amount be with held. I have also discovered that if you have a very good relationship with your bank they will waive this charge. The reason for the fee, as I understand it, is to make sure that no taxes a due.

    Carter Kelley

    May 12, 2013 at 9:01 pm #517924
    COUNTRY EXPERT- SUZAN HASKINS
    Member

    Can you please attribute this information with a verifiable link? Thank you.

    May 13, 2013 at 8:01 pm #518134
    BOBBY PHILLIPS
    Member

    Six days ago I transferred monies from my US bank to an account in Quito with no such withholding.

    May 13, 2013 at 8:47 pm #518135
    COUNTRY EXPERT- SUZAN HASKINS
    Member

    I’ve heard rumors of this, but I think that’s all it is…

    November 25, 2013 at 5:30 pm #542507
    ROBERT SYMINGTON
    Participant

    When I transferred my $25K for my CD (3 October 2013), there was no issue. The only change I’m aware of is when I subsequently transferred $5K for living expenses, the bank was required to notify the government (you’d think the NSA could take care of that themselves). The $5K still showed up on the same day the transfer was made.

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