transfer money from a US bank account to an Israeli bank account
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Idit Deutsch
Feb 20, 2011, 1:40:49 PM2/20/11
to iso-mar...@googlegroups.com
I am looking for advice on the best way to transfer money from a US bank account to an Israeli bank account . We tried using a wire transfer between WellsFargo bank and Israel Discount bank. The fees are pretty high for a dollar->dollar transfer. And there is also the exchange rate and commission part when you later convert to Shekels. Any suggestions on better/cheaper ways? For instance:
- Depositing a check
- Using another bank
- Using another service
Suggestions and lessons learned will be appreciated!
-----------------------
Baruch Deutsch
Blog: http://back-to-israel.blogspot.com/
------------------------------------------------------------------------------
Idit Deutsch
"Artissimo - Creative Interior Architectural Design"
Israel: 052.272.1112
USA: 408.343.1321
http://www.artissimo.com
ASID, NKBA, CAPS, CGBP
LinkedIn: http://il.linkedin.com/in/iditdeutsch
Keeping in our mind it is your lifestyle
-------------------------------------------------------------------------------
Eitan Sapir
Feb 20, 2011, 3:14:18 PM2/20/11
to Id...@artissimo.com, iso-mar...@googlegroups.com
Idit,
I'm heading Bank Leumi in Palo Alto and can tell you that for our customers we can convert Dollars to Shekels with no fees (and at very competitive rates), and we wire money to any Leumi branch is Israel with no fee at all. If we convert to Shekels here and wire it out, there is no fee on the Israeli side either, so the transaction is practically free.
We don't do retail banking, only Private Banking though. Any further questions - please contact me directly at eitan...@leumiusa.com
Best,
Eitan
I'm heading Bank Leumi in Palo Alto and can tell you that for our customers we can convert Dollars to Shekels with no fees (and at very competitive rates), and we wire money to any Leumi branch is Israel with no fee at all. If we convert to Shekels here and wire it out, there is no fee on the Israeli side either, so the transaction is practically free.
We don't do retail banking, only Private Banking though. Any further questions - please contact me directly at eitan...@leumiusa.com
Best,
Eitan
Sent from my BlackBerry®
From: "Idit Deutsch" <Id...@artissimo.com>
Sender: iso-mar...@googlegroups.com
Date: Sun, 20 Feb 2011 20:40:49 +0200
ReplyTo: Id...@artissimo.com
Subject: [ISO-marketplace] transfer money from a US bank account to an Israeli
bank account
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Ithamar S
Feb 21, 2011, 1:48:04 PM2/21/11
to ISO marketplace
A few options:
1st - Discount bank is known for high wire fees. A client of mine was
encountered with a few thousands worth of fees. Best option for wire
is to check other banks (also, check to open a foreign currency
account in any of the banks and inquire if it will make a difference
in their pricing).
2nd - Western union; they charge about 4%-5% and the person get the $$
$ in Israel in either cash or bank check (can be expensive for large
quantities).
3rd - depositing a check; you can either deposit a regular or bank
check and it might take 2-4 weeks to clear (not sure of charges in
Israel, in the US to conduct such transaction is sometimes free with
max charge of $40), or you can ask you bank here to issue a Foreign
Draft (in Israeli Shekels), it might cost $20-$30 to issue, but then
you just deposit it in Israel and there suppose to incur no charges.
Hope this helps.
On Feb 20, 10:40 am, "Idit Deutsch" <I...@artissimo.com> wrote:
> I am looking for advice on the best way to transfer money from a US bank account to an Israeli bank account . We tried using a wire transfer between WellsFargo bank and Israel Discount bank. The fees are pretty high for a dollar->dollar transfer. And there is also the exchange rate and commission part when you later convert to Shekels. Any suggestions on better/cheaper ways? For instance:
>
> * Depositing a check
> * Using another bank
> * Using another service
1st - Discount bank is known for high wire fees. A client of mine was
encountered with a few thousands worth of fees. Best option for wire
is to check other banks (also, check to open a foreign currency
account in any of the banks and inquire if it will make a difference
in their pricing).
2nd - Western union; they charge about 4%-5% and the person get the $$
$ in Israel in either cash or bank check (can be expensive for large
quantities).
3rd - depositing a check; you can either deposit a regular or bank
check and it might take 2-4 weeks to clear (not sure of charges in
Israel, in the US to conduct such transaction is sometimes free with
max charge of $40), or you can ask you bank here to issue a Foreign
Draft (in Israeli Shekels), it might cost $20-$30 to issue, but then
you just deposit it in Israel and there suppose to incur no charges.
Hope this helps.
On Feb 20, 10:40 am, "Idit Deutsch" <I...@artissimo.com> wrote:
> I am looking for advice on the best way to transfer money from a US bank account to an Israeli bank account . We tried using a wire transfer between WellsFargo bank and Israel Discount bank. The fees are pretty high for a dollar->dollar transfer. And there is also the exchange rate and commission part when you later convert to Shekels. Any suggestions on better/cheaper ways? For instance:
>
> * Using another bank
> * Using another service
>
> Suggestions and lessons learned will be appreciated!
>
> -----------------------
>
> Baruch Deutsch
>
> Blog:http://back-to-israel.blogspot.com/
>
> ------------------------------------------------------------------------------
>
> Idit Deutsch
>
> "Artissimo - Creative Interior Architectural Design"
>
> Israel: 052.272.1112
>
> USA: 408.343.1321
>
> http:// <http://www.artissimo.com>www.artissimo.com
> Suggestions and lessons learned will be appreciated!
>
> -----------------------
>
> Baruch Deutsch
>
> Blog:http://back-to-israel.blogspot.com/
>
> ------------------------------------------------------------------------------
>
> Idit Deutsch
>
> "Artissimo - Creative Interior Architectural Design"
>
> Israel: 052.272.1112
>
> USA: 408.343.1321
>
Ithamar S
Feb 21, 2011, 1:51:14 PM2/21/11
to ISO marketplace
I also forgot to add, sending the funds in Israeli shekels will reduce
the cost (if not eliminate any). You can just ask your bank (or any
other bank who has that capability) to send the funds in Israeli
Shekels (From my knowledge Leumi, Bank of America, and CitiBank has
that service).
> I am looking for advice on the best way to transfer money from a US bank account to an Israeli bank account . We tried using a wire transfer between WellsFargo bank and Israel Discount bank. The fees are pretty high for a dollar->dollar transfer. And there is also the exchange rate and commission par (t when you later convert to Shekels. Any suggestions on better/cheaper ways? For instance:
the cost (if not eliminate any). You can just ask your bank (or any
other bank who has that capability) to send the funds in Israeli
Shekels (From my knowledge Leumi, Bank of America, and CitiBank has
that service).
> I am looking for advice on the best way to transfer money from a US bank account to an Israeli bank account . We tried using a wire transfer between WellsFargo bank and Israel Discount bank. The fees are pretty high for a dollar->dollar transfer. And there is also the exchange rate and commission par (t when you later convert to Shekels. Any suggestions on better/cheaper ways? For instance:
>
> * Depositing a check
> * Using another bank
> * Using another service
> * Depositing a check
> * Using another bank
>
> Suggestions and lessons learned will be appreciated!
>
> -----------------------
>
> Baruch Deutsch
>
> Blog:http://back-to-israel.blogspot.com/
>
> ------------------------------------------------------------------------------
>
> Idit Deutsch
>
> "Artissimo - Creative Interior Architectural Design"
>
> Israel: 052.272.1112
>
> USA: 408.343.1321
>
> http:// <http://www.artissimo.com>www.artissimo.com
> Suggestions and lessons learned will be appreciated!
>
> -----------------------
>
> Baruch Deutsch
>
> Blog:http://back-to-israel.blogspot.com/
>
> ------------------------------------------------------------------------------
>
> Idit Deutsch
>
> "Artissimo - Creative Interior Architectural Design"
>
> Israel: 052.272.1112
>
> USA: 408.343.1321
>
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