I just got killed on an international wire with fees - is this possible?

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  • Vjo
    So Fucking Banned
    • Oct 2002
    • 6082
    #1

    I just got killed on an international wire with fees - is this possible?

    rounding off cents.. Sponsor in Asia..

    $750 - orig owed
    $045 - sponsor's wire fee
    $705 - wired
    $579 - just received

    wtf - $126 in fees?

    Is this possible? My bank lists no fees altho they normally charge $13 for an incoming non-intl wire. So perhaps they charge more for an intl and it isnt listed yet, but surely not $126. Do corresponding banks charge along the way?

    Either the sponsor is not being honest (very unlikely) or I got killed on this deal.
    Tags: None
    • SallyRand
      So Fucking Banned
      • Jan 2008
      • 3487
      #2
      Originally posted by Vjo
      rounding off cents.. Sponsor in Asia..

      $750 - orig owed
      $045 - sponsor's wire fee
      $705 - wired
      $579 - just received

      wtf - $126 in fees?

      Is this possible? My bank lists no fees altho they normally charge $13 for an incoming non-intl wire. So perhaps they charge more for an intl and it isnt listed yet, but surely not $126. Do corresponding banks charge along the way?

      Either the sponsor is not being honest (very unlikely) or I got killed on this deal.
      Currency conversion fees maybe? Check the TOS of the sponsor to see what currency in which the payment originates .

      Just a thought.
      Last edited by SallyRand; 10-07-2010, 11:37 PM.

        Comment

        • Vjo
          So Fucking Banned
          • Oct 2002
          • 6082
          #3
          Originally posted by SallyRand
          Currency conversion fees maybe? Check the TOS of the sponsor to see what currency the payment originates in.
          Good point, that is a possibility altho they used to pay me by epass and I got the full amount.

          Sort of just wondering if anyone ever lost around 20% in a wire. Then I wont feel so bad.

          Also wondering if there is a way to see all fees along the way. Maybe the bank in Timbuktu gouged me.
          Last edited by Vjo; 10-07-2010, 11:41 PM.

            Comment

            • sexyclicks
              Confirmed User
              • Mar 2002
              • 3240
              #4
              maybe they charged $126 instead of $12.6 by mistake

                Comment

                • JFK
                  FUBAR the ORIGINATOR
                  • Jan 2002
                  • 67373
                  #5
                  the sending company charged you their fee, there is a fee that the middle bank charges, then there is the fee that your bank charges

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                    Comment

                    • Jarmusch
                       
                      • May 2003
                      • 12479
                      #6
                      Maybe an intermediary bank also charged a fee.

                        Comment

                        • BIGTYMER
                          Junior Achiever
                          • Nov 2004
                          • 17066
                          #7
                          Yup. Currency conversion.

                            Comment

                            • Vjo
                              So Fucking Banned
                              • Oct 2002
                              • 6082
                              #8
                              Originally posted by JFK
                              the sending company charged you their fee, there is a fee that the middle bank charges, then there is the fee that your bank charges
                              Yeah prob a middle man bank fee. Could be conversion too. Maybe when they do wires things are done differently and they pass the conversion on.

                              Anyhow. Prob hard to determine without looking into it. But just wanted to show ya. This is my first intl wire and now I know why we need the next epass.

                              They just put in Payoneer so switched to them thankfully for the next payout.

                              Only good news is the whopping $171 fee on my orig $750 owed (126 + the sponsors 45) is tax deductible so at least I can knock off like $50.
                              Last edited by Vjo; 10-07-2010, 11:56 PM.

                                Comment

                                • OneWhoKnows
                                  Confirmed User
                                  • Aug 2005
                                  • 873
                                  #9
                                  Nice thread for all these people who keep saying that everyone who will use an e-wallet again instead of going with checks and wires is a dumbass.

                                    Comment

                                    • lagcam
                                      Confirmed User
                                      • Jul 2007
                                      • 2890
                                      #10
                                      I lose a lot of money on bank fees, and know that everybody who touches the money charges but those fees do look disproportionate.

                                      Ask your bank for a breakdown of how the $705 became $579.

                                      If you earned dollars and they sent dollars and your account is denominated in dollars there would be no currency charges. If your account is not in dollars and you converted the amount received back into dollars to see how much you lost, the rate you used may be the problem.
                                      Working Cam site for sale - NOT affiliate.

                                        Comment

                                        • Vjo
                                          So Fucking Banned
                                          • Oct 2002
                                          • 6082
                                          #11
                                          Originally posted by lagcam
                                          I lose a lot of money on bank fees, and know that everybody who touches the money charges but those fees do look disproportionate.

                                          Ask your bank for a breakdown of how the $705 became $579.

                                          If you earned dollars and they sent dollars and your account is denominated in dollars there would be no currency charges. If your account is not in dollars and you converted the amount received back into dollars to see how much you lost, the rate you used may be the problem.
                                          Yeah, they always paid me in dollars. And they are a reliable sponsor you all know. So I doubt they passed the conversion on.

                                          My bank does have an easy way to get an explanation on a certain transaction. I will ask them and let you all know who gouged me.

                                          That is a bit rediculous. Sponsor claims 705 sent and I believe them. But this is Asia. Not Europe. So who knows. I'll call the bank. Easier. At dawn and let you know. Should be interesting.

                                            Comment

                                            • DWB
                                              Registered User
                                              • Jul 2003
                                              • 31779
                                              #12
                                              International bank wires can sometimes be brutal. You really have to keep an eye on shit.

                                                Comment

                                                • v4 media
                                                  Confirmed User
                                                  • Feb 2005
                                                  • 2934
                                                  #13
                                                  is it a $ account. if not probably shafting you on the conversion rate.

                                                    Comment

                                                    • Beerbar
                                                      Confirmed User
                                                      • Oct 2004
                                                      • 145
                                                      #14
                                                      Originally posted by lagcam
                                                      the rate you used may be the problem.
                                                      Agree, I live in Asia as well, not an affiliate but I get my wires from CCBill and Zombio. When they "wire" 705$ I get $705 US Dollars into my account, the local currency amount might change due to the exchange rate but the amount that hits the account is the amount wired. For me at least.
                                                      Last edited by Beerbar; 10-08-2010, 12:15 AM.

                                                        Comment

                                                        • Vjo
                                                          So Fucking Banned
                                                          • Oct 2002
                                                          • 6082
                                                          #15
                                                          Well were gonna find out, should be interesting.

                                                          Surely the sponsor started at $705 as they would know I could look into the wire so I trust that it started at $705.

                                                          And if they paid me with epass for a long time and a $ was a $, I dont think they would suddenly pass the conversion on. I am a valued affiliate.

                                                          So I think some far east or Russian bank got me. We started in rubles I think. I'll get the breakdown.

                                                          Will call em in about 3 hours.
                                                          Last edited by Vjo; 10-08-2010, 12:30 AM.

                                                            Comment

                                                            • Vjo
                                                              So Fucking Banned
                                                              • Oct 2002
                                                              • 6082
                                                              #16
                                                              Originally posted by JFK
                                                              the sending company charged you their fee, there is a fee that the middle bank charges, then there is the fee that your bank charges
                                                              My bank doesnt disclose the fee for intl wires, you have to call them to find out.

                                                              I'm guessing they charged me about $45 or more and the middle bank the rest. Had to be.

                                                                Comment

                                                                • Itchy
                                                                  Datetronix.com
                                                                  • Jan 2001
                                                                  • 6525
                                                                  #17
                                                                  a wire from German bank to my Canadian bank cost somewhere around there as well


                                                                  ICQ: 2588560
                                                                  Skype: Pornocop

                                                                    Comment

                                                                    • hjnet
                                                                      Confirmed User
                                                                      • May 2002
                                                                      • 3815
                                                                      #18
                                                                      Possible, I recently paid EUR 116 at my local bank for cashing US checks, that's ~$160

                                                                      They assrape you when they feel like it

                                                                        Comment

                                                                        • Vjo
                                                                          So Fucking Banned
                                                                          • Oct 2002
                                                                          • 6082
                                                                          #19
                                                                          Originally posted by Itchy
                                                                          a wire from German bank to my Canadian bank cost somewhere around there as well
                                                                          Good to know. I dont think there are any mistakes. Just high fees. I am curious what the two banks charged.

                                                                          So this deal cost me %23 ($171) in fees. lol Good lesson. Who was saying $7.50 (3.75%) was a high fee on $200 with Payoneer?

                                                                          Actually 3.75% to load and another I think 3% to withdraw. 6.75% total. But only say 3-4% for me.
                                                                          Last edited by Vjo; 10-08-2010, 01:32 AM.

                                                                            Comment

                                                                            • GetSCORECash
                                                                              Confirmed User
                                                                              • Mar 2008
                                                                              • 5527
                                                                              #20
                                                                              It's got to be the conversion. The bank will always exchange it in their favor.

                                                                              Another reason for these third party ewallet solutions.
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                                                                                • Machete_
                                                                                  WINNING!
                                                                                  • Oct 2002
                                                                                  • 14579
                                                                                  #21
                                                                                  adapt or die

                                                                                    Comment

                                                                                    • Vjo
                                                                                      So Fucking Banned
                                                                                      • Oct 2002
                                                                                      • 6082
                                                                                      #22
                                                                                      Not a shill for Payoneer but I did switch this sponsor to them and I need Payoneer to workout.

                                                                                      I'll be back with a fee breakdown in a couple hours.

                                                                                        Comment

                                                                                        • Vjo
                                                                                          So Fucking Banned
                                                                                          • Oct 2002
                                                                                          • 6082
                                                                                          #23
                                                                                          Originally posted by GetSCORECash
                                                                                          It's got to be the conversion. The bank will always exchange it in their favor.

                                                                                          Another reason for these third party ewallet solutions.
                                                                                          Real good point. The original bank (prob Russian, poss Netherlands - Ill find out - prob took like $95)

                                                                                          The main US "Correspondent" bank is Bank of America out of NY. Maybe they took a cut too. Maybe there was another bank along the way too.
                                                                                          Last edited by Vjo; 10-08-2010, 01:45 AM.

                                                                                            Comment

                                                                                            • BJ
                                                                                              Confirmed User
                                                                                              • Mar 2002
                                                                                              • 5590
                                                                                              #24
                                                                                              in the future you should have the wire sent it whatever currency they use, let your bank convert to dollars, youll get a way better rate.

                                                                                                Comment

                                                                                                • ArsewithClass
                                                                                                  So Fucking Banned
                                                                                                  • Mar 2007
                                                                                                  • 7957
                                                                                                  #25
                                                                                                  Originally posted by Vjo
                                                                                                  rounding off cents.. Sponsor in Asia..

                                                                                                  $750 - orig owed
                                                                                                  $045 - sponsor's wire fee
                                                                                                  $705 - wired
                                                                                                  $579 - just received

                                                                                                  wtf - $126 in fees?

                                                                                                  Is this possible? My bank lists no fees altho they normally charge $13 for an incoming non-intl wire. So perhaps they charge more for an intl and it isnt listed yet, but surely not $126. Do corresponding banks charge along the way?

                                                                                                  Either the sponsor is not being honest (very unlikely) or I got killed on this deal.
                                                                                                  Ive never known anything like it! I wouldnt have thought different countries mattered considering its your bank that charges not the other. My international charges should be similar from US to UK as Asia to US.

                                                                                                  Could your bank have taken all the monthly charges in one go? Maybe its your bank you should contact rather than us at GFY....

                                                                                                  Goodluck with finding out the problem

                                                                                                    Comment

                                                                                                    • iSpyCams
                                                                                                      Amateur Gynecologist
                                                                                                      • May 2009
                                                                                                      • 4436
                                                                                                      #26
                                                                                                      My experience with international wires is that it costs 10-25 to receive and 30-50 to send, depending on the bank.

                                                                                                      You may have been subjected to multiple currency exchanges, this would cause your funds to dwindle fast as each time it is exchanged the exchanger is making a profit on top of an already unfavorable exchange rate.
                                                                                                      - As soon as I think up a good sig it's going here.

                                                                                                        Comment

                                                                                                        • tranza
                                                                                                          ICQ: 197-556-237
                                                                                                          • Jun 2003
                                                                                                          • 57559
                                                                                                          #27
                                                                                                          Don't forget taxes too man. When I receive international wires the bank always deduct the taxes.
                                                                                                          I'm just a newbie.

                                                                                                            Comment

                                                                                                            • Vjo
                                                                                                              So Fucking Banned
                                                                                                              • Oct 2002
                                                                                                              • 6082
                                                                                                              #28
                                                                                                              Well after about 20 mins on the phone with my bank all they can tell me was their fee was $20. They are unable to tell me what the orig amount was for or where it originated. That is what they tell me. They also cant tell me the fee breakdown either.

                                                                                                              They did say the Correspondent bank (Bank of America New York) would not take any so the orig bank must have taken the rest.. about $106.

                                                                                                              It may have been a currency change. But they couldnt tell me that either. So it is a mystery.
                                                                                                              Last edited by Vjo; 10-08-2010, 05:35 AM.

                                                                                                                Comment

                                                                                                                • Vjo
                                                                                                                  So Fucking Banned
                                                                                                                  • Oct 2002
                                                                                                                  • 6082
                                                                                                                  #29
                                                                                                                  Originally posted by tranza
                                                                                                                  Don't forget taxes too man. When I receive international wires the bank always deduct the taxes.
                                                                                                                  Do you see that breakdown on your statement? Or is it just taken out. Do you get some kind of notice on that?

                                                                                                                  Maybe I'll get something come tax time that something was deducted.

                                                                                                                  I could pester the sponsor but I wont do that. I took my chances.
                                                                                                                  Last edited by Vjo; 10-08-2010, 05:50 AM.

                                                                                                                    Comment

                                                                                                                    • HomerSimpson
                                                                                                                      Too lazy to set a custom title
                                                                                                                      • Sep 2005
                                                                                                                      • 13826
                                                                                                                      #30
                                                                                                                      this is the reason we need some epass alternative adopted widely in the industry and we need it fast... It would save this industry millions in fucking banking fees, also it would save time (time=money)...
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                                                                                                                        • V_RocKs
                                                                                                                          Damn Right I Kiss Ass!
                                                                                                                          • Nov 2003
                                                                                                                          • 32447
                                                                                                                          #31
                                                                                                                          This is why I want Paxum!

                                                                                                                            Comment

                                                                                                                            • SallyRand
                                                                                                                              So Fucking Banned
                                                                                                                              • Jan 2008
                                                                                                                              • 3487
                                                                                                                              #32
                                                                                                                              Originally posted by Vjo
                                                                                                                              Well after about 20 mins on the phone with my bank all they can tell me was their fee was $20. They are unable to tell me what the orig amount was for or where it originated. That is what they tell me. They also cant tell me the fee breakdown either.

                                                                                                                              They did say the Correspondent bank (Bank of America New York) would not take any so the orig bank must have taken the rest.. about $106.

                                                                                                                              It may have been a currency change. But they couldnt tell me that either. So it is a mystery.
                                                                                                                              Well, at least you have it confirmed that your money was indeed in motion!

                                                                                                                              ;)

                                                                                                                                Comment

                                                                                                                                • fatfoo
                                                                                                                                  ICQ:649699063
                                                                                                                                  • Mar 2003
                                                                                                                                  • 27763
                                                                                                                                  #33
                                                                                                                                  It is impossible that you got killed, because you are still talking.
                                                                                                                                  Send me an email: [email protected]

                                                                                                                                    Comment

                                                                                                                                    • Vjo
                                                                                                                                      So Fucking Banned
                                                                                                                                      • Oct 2002
                                                                                                                                      • 6082
                                                                                                                                      #34
                                                                                                                                      Originally posted by V_RocKs
                                                                                                                                      This is why I want Paxum!
                                                                                                                                      Paxum could be it. Payoneer generally does NOT allow loading by non sponsors (link bottom right on Payoneer main page thats says "now anyone can load your acct")

                                                                                                                                      I tried to load my own acct to try the card out and no go. The response arrived in about 1 hour (all transactions are aprroved) and said after a few transactions they may approve me for some loading but it is mainly only for sponsors and their connected affils. Payoneer should be fine for intl sponsor payments but not for "a form of p2p" as was first thought.

                                                                                                                                      Paxum tho I assUme has p2p.
                                                                                                                                      Last edited by Vjo; 10-08-2010, 06:40 AM.

                                                                                                                                        Comment

                                                                                                                                        • Vjo
                                                                                                                                          So Fucking Banned
                                                                                                                                          • Oct 2002
                                                                                                                                          • 6082
                                                                                                                                          #35
                                                                                                                                          Originally posted by fatfoo
                                                                                                                                          It is impossible that you got killed, because you are still talking.
                                                                                                                                          lol Your right! This thread title is a little disconbobulated.
                                                                                                                                          Last edited by Vjo; 10-08-2010, 06:49 AM.

                                                                                                                                            Comment

                                                                                                                                            • Vjo
                                                                                                                                              So Fucking Banned
                                                                                                                                              • Oct 2002
                                                                                                                                              • 6082
                                                                                                                                              #36
                                                                                                                                              Originally posted by SallyRand
                                                                                                                                              Well, at least you have it confirmed that your money was indeed in motion!

                                                                                                                                              ;)
                                                                                                                                              At least I know I can do intl wires and my swift codes and all are right. So it was a good learning experience.
                                                                                                                                              They say it is extremely reliable.

                                                                                                                                              Just have to give 20%+ to the man. Some man, somewhere.
                                                                                                                                              Last edited by Vjo; 10-08-2010, 06:45 AM.

                                                                                                                                                Comment

                                                                                                                                                • CPA37710T
                                                                                                                                                  business ready hit me up!
                                                                                                                                                  • Aug 2010
                                                                                                                                                  • 1115
                                                                                                                                                  #37
                                                                                                                                                  Originally posted by Vjo
                                                                                                                                                  Yeah prob a middle man bank fee. Could be conversion too. Maybe when they do wires things are done differently and they pass the conversion on.

                                                                                                                                                  Anyhow. Prob hard to determine without looking into it. But just wanted to show ya. This is my first intl wire and now I know why we need the next epass.

                                                                                                                                                  They just put in Payoneer so switched to them thankfully for the next payout.

                                                                                                                                                  Only good news is the whopping $171 fee on my orig $750 owed (126 + the sponsors 45) is tax deductible so at least I can knock off like $50.
                                                                                                                                                  Hello Vjo, in order to waive the intermediary acct fee, you should delete any intermediary bank info and only use the "swift code" that your bank uses, this will avoid charges for any intermediary bank, intermediary banks were used in the past not anymore, now wires are direct

                                                                                                                                                    Comment

                                                                                                                                                    • sexdatesj
                                                                                                                                                      Confirmed User
                                                                                                                                                      • Jun 2009
                                                                                                                                                      • 1078
                                                                                                                                                      #38
                                                                                                                                                      thats brutal.. huge fees
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                                                                                                                                                        • Vjo
                                                                                                                                                          So Fucking Banned
                                                                                                                                                          • Oct 2002
                                                                                                                                                          • 6082
                                                                                                                                                          #39
                                                                                                                                                          Originally posted by CPA37710T
                                                                                                                                                          Hello Vjo, in order to waive the intermediary acct fee, you should delete any intermediary bank info and only use the "swift code" that your bank uses, this will avoid charges for any intermediary bank, intermediary banks were used in the past not anymore, now wires are direct
                                                                                                                                                          Wow that could be it. I did provide the sponsor with the two swift codes and they sent it as I directed. Through the BOA New York first.

                                                                                                                                                          Frankly the girl at my bank knew less than this board and she thought BOA NY would not charge me a fee but maybe they did.

                                                                                                                                                          Anyhow good point. I will try that next time. The reason I did it that way is my bank's faq said to and I thought you in fact needed two codes for an intl transfer.

                                                                                                                                                          Great contribution. Thanks.
                                                                                                                                                          Last edited by Vjo; 10-08-2010, 07:09 AM.

                                                                                                                                                            Comment

                                                                                                                                                            • Vjo
                                                                                                                                                              So Fucking Banned
                                                                                                                                                              • Oct 2002
                                                                                                                                                              • 6082
                                                                                                                                                              #40
                                                                                                                                                              It also took a little longer.. sent Monday.. got to my acct today. They say 2 days usually. Looks my wire spent some spendy time in the Big Apple for a day or two. BOA NY.. please you know they took a fee.

                                                                                                                                                              That is prob it. Good, we all learned to use just our own local Swift code.

                                                                                                                                                              I am prob the only American yokel in the prog who provided two Swift codes. lol "ok, this dummy want two banks, we send through two banks" [add Russian accent ]

                                                                                                                                                              always the hard way for me
                                                                                                                                                              Last edited by Vjo; 10-08-2010, 07:41 AM.

                                                                                                                                                                Comment

                                                                                                                                                                • Agent 488
                                                                                                                                                                  Registered User
                                                                                                                                                                  • Feb 2006
                                                                                                                                                                  • 22511
                                                                                                                                                                  #41
                                                                                                                                                                  stop using emoticons.

                                                                                                                                                                    Comment

                                                                                                                                                                    • Vjo
                                                                                                                                                                      So Fucking Banned
                                                                                                                                                                      • Oct 2002
                                                                                                                                                                      • 6082
                                                                                                                                                                      #42
                                                                                                                                                                      Originally posted by Agent 488
                                                                                                                                                                      stop using emoticons.
                                                                                                                                                                      I hear ya, bad habit. It sounds good in my head but bad on the screen.

                                                                                                                                                                        Comment

                                                                                                                                                                        • Vjo
                                                                                                                                                                          So Fucking Banned
                                                                                                                                                                          • Oct 2002
                                                                                                                                                                          • 6082
                                                                                                                                                                          #43
                                                                                                                                                                          Anyhow, turned out to be a good educational thread. Thanks to all.

                                                                                                                                                                          Onward and upward.

                                                                                                                                                                            Comment

                                                                                                                                                                            • fuzebox
                                                                                                                                                                              making it rain
                                                                                                                                                                              • Oct 2003
                                                                                                                                                                              • 22351
                                                                                                                                                                              #44
                                                                                                                                                                              Originally posted by CPA37710T
                                                                                                                                                                              Hello Vjo, in order to waive the intermediary acct fee, you should delete any intermediary bank info and only use the "swift code" that your bank uses, this will avoid charges for any intermediary bank, intermediary banks were used in the past not anymore, now wires are direct


                                                                                                                                                                              Intermediary banks are obselete. When any bank in the world types a swift code into their wire console, the intermediary bank info is included, and they follow that, rather than what you wrote down. I haven't included intermediary info for international wires for 4 years and have never had a problem.

                                                                                                                                                                                Comment

                                                                                                                                                                                • TurboAngel
                                                                                                                                                                                  H.B.I.C.
                                                                                                                                                                                  • Jun 2003
                                                                                                                                                                                  • 30122
                                                                                                                                                                                  #45
                                                                                                                                                                                  Shit that sucks.

                                                                                                                                                                                    Comment

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