Home     Forum     401k     401k Rollovers
    Register   Login   Members   Search   FAQs     Recent Posts    




Money transfer to another country

Reply to topic
Money Talk > The Green Room

Author Thread
theserenity
New Poster


Cash: $ 0.45

Posts: 2
Joined: 03 Jun 2009

Money transfer to another country  Reply with quote  

Hello! Very Happy

I'm a financial newbie, so I wanted to ask you a question. Suppose I'm making a business online here in USA (ie: setting up a website to provide graphical resources) but have no bank account due to the overprotection family issues... someone from another country (ie: Germany) has a bank account, and could the money I make online go through his bank account regardless the locations we both are living in?

Thank you!
Post Thu Jun 04, 2009 12:12 am
 View user's profile Send private message
krisberggren
Member


Cash: $ 2.05

Posts: 10
Joined: 28 May 2009

 Reply with quote  

sounds SCAMMY. no person would let his money to go on other's bank account. Shocked
Post Thu Jun 04, 2009 3:29 am
 View user's profile Send private message
coaster
Senior Advisor


Cash: $ 1626.30

Posts: 7990
Joined: 11 Oct 2005
Location: Wisconsin
 Reply with quote  

If you're asking a genuine question, then I strongly suggest you don't even consider it, for the reason mentioned in the post above. There are so many scams out there defrauding gullible people of their savings using schemes similar to what you're asking about, and it's getting widely known. If your proposal is above-board, you'd have a very hard time conducting business that way because of the bad reputation. A better way to transfer funds from buyer to seller is through PayPal or similar service or with a credit card. Anyone who's serious about doing business online will use a reputable way of conducting that business and will want to make sure any potential customers know it's legitimate and secure.

~Tim~
Post Thu Jun 04, 2009 5:06 am
 View user's profile Send private message
theserenity
New Poster


Cash: $ 0.45

Posts: 2
Joined: 03 Jun 2009

 Reply with quote  

Hiii.

Thank you for your responses. I'm sorry it sounds scammy and I'm not sure whether or not I was making things clear in the first place because I thought "bank account" is kind of relevant to using services like PayPal? Like I said, I'm a newbie -- my apologizes. Yes, I sound like an idiot.

Anyhow, just to double triple fourple check: if someone from USA pays through PayPal to German's PayPal, will it just convert the money from dollars to euro itself and still go through?

That's basically what I would like to know. Smile
Post Thu Jun 04, 2009 5:28 am
 View user's profile Send private message
Sime
Senior Member


Cash: $ 86.60

Posts: 445
Joined: 19 Mar 2009
Location: United Kingdom
 Reply with quote  

I think it depends on the method they use to send you the money.

In some cases the payment requires approval from you to accept it, at which point you are prompted to accept it in the given currency or a different one.

Otherwise it will just arrive plain in whatever currency they send it. Probably dollars.

However, in your PayPal account, you should have the option of transfering some of your balance to another currency, and be able to maintain more than one balance in more than one currency.

When you accept a payment and accept it in a different currency, this will create two balances on your account in two different currencies.

Not all countries can afford... a lavish monarchy.
Post Thu Jun 04, 2009 3:00 pm
 View user's profile Send private message
coaster
Senior Advisor


Cash: $ 1626.30

Posts: 7990
Joined: 11 Oct 2005
Location: Wisconsin
 Reply with quote  

Talk about serendipity -- this afternoon Clark Howard took a call about transferring money to other countries and he mentioned PayPal. He said the conversion into currency of your own country is automatic. (although I would suppose you have your options) He didn't mention though if there's a broker's fee involved. Banks will usually nick you a couple percent for such exchanges. I forget how many different currencies he said PayPal accepted; I think it was twenty-something. Shocked

It sounds to me like they'd be a very good choice for US Dollars - Euros transactions.

~Tim~
Post Fri Jun 05, 2009 6:12 am
 View user's profile Send private message

Reply to topic
Forum Jump:
Jump to:  
  Display posts from previous:      





Money Talk © 2003-2016