Steve Rossell
Banks are banks no matter who or where they are from. Every day your money is in limbo makes them money. Simple.
samsiam
Have not read the posts...but i transfer 10k at actime to my oz $ cimb account....they have great online banking.....then change it into rupeah when the rate is good here into my cimb rupeah account.....transervfrom oz costz $30 and some other inter bank fee another $30...but no exchange loss
kapalunapi
I've used OzForex to transfer reasonable amounts over the last 2 years (transactions of less than $10K), low fee - $15 - and a good rate - both better than my bank offered. Though they did hack me off a fair bit when they phoned to interview/interrogate me on why I was transferring money to Indonesia ...
the spock
After a fair bit of research I've come to the following conclusions:- for international bank transfers from Australian bank account to Indonesian bank account: use worldremit or Transferwise (peer to peer online money transfer websites).- for overseas & foreign currency online credit card purchases: use Bankwest Platinum Zero credit card or the 28 degree one (no foreign transaction fee).- for overseas ATM withdrawal: use Citibank Plus debit card (no foreign transaction fee, no ATM fee).
Nydave
Great segment today on BBC news,regarding money transfers,they estimete that around 200 million people transfer money on a regular basis,mostly people working in foreign country's sending money back home to family,they estimate approx 620 billion dollars are transferred yearly,and most people use Western union or Money Gram to transfer at a cost of around 8 percent of your transaction,this amounts to huge amounts of profits for the companies,however now companies such as transferwise.com is eating into the profits of the above mentioned companies,they also said there are several other similar companies like transferwise wanting to do business but are experiencing difficulties obtaining a licence,they are being told that they need to have actual offices and such,makes me wonder if the 2 bigger ones are playing or should I say PAYING a major part in this.?
the spock
Hi,I have made enquiries with Citibank in Jl Teuku Umar.If you transfer from your Australian Citibank plus account to your Indonesian Citibank account via Global banking then they waive the foreign transaction fees.It is still unclear to me if there are any hidden fees at this stage, perhaps they inflate the exchange rate instead of charging a transaction fee.Minimum balance every month has to be 50 juta.Account can only be opened by KITAS holders.Cheers.
