Okay, so in good time I received the money from TransferWise. The management company in Pittsburgh transferred it to them…
Okay, so I received the money from TransferWise in good time.
The management company in Pittsburgh transferred the money to them, and they transferred it directly to my account in Israel, already converted to shekels, without the need for an American account.
Before the transfer, they tell you exactly how many fees you will pay and for what. I transferred $10 as a test, but for a transfer of $1000 you will pay about a $10 fee. They also give you exactly the updated dollar exchange rate at that time.
The money also went into the account exactly on the same day they said it would go in. In short, I think it's a great solution for people who don't have an American account.
Opening link:
https://transferwise.com/i/gald6
I transfer large amounts through the Ofakim trading room. In the US there is a commission of 30 dollars and in Israel another 15 – then Ofakim converts to shekels – a difference of 0.2 percent on the continuous rate and finally a shekel transfer to the personal account from Ofakim – a total of around 0.25-0.3 percent of each transfer
Gal Drori
Hi Gal, do you need an account in the US to open a Transferwise account?
Does it need to be associated with somewhere or is it an independent account?
What code should I provide to receive money?
Please note that not everything is as rosy as it may appear in the post, I checked their simulator and...
The larger the transfer amount, the higher the percentage of commission. It is not clear how their algorithm works. For example, when transferring $100, the commission is 0.65 percent, meaning $650. There are cheaper alternatives. A $10 commission would be relevant when transferring only $1000.
So maybe for those who need to transfer small amounts, it could be worthwhile.
What reference to the English address did you give?…I put a passport but on the ID card it is not in English.
I tried to open...without success.
Excellent! I'm glad to see that they're already working! The post has gained world fame in a shiny new section dedicated to it on Netlenpedia under Money Transfers! Be strong and courageous!
Looking for a way to open a bank account in the US without flying.
Cool...I'll definitely try and open it via your link so you can enjoy it too.
How was the whole process from the moment you decided to open an account with them?
Thank you very much for sharing, Gal ??
Link to the opening for anyone interested:
https://transferwise.com/i/gald6
Idit Yunji Shira Ben-Dror Asher FYI
Is this a private account in your name or an LLC?
This is the entire commission, the amount listed in shekels is the amount you will receive in your bank account in Israel, meaning that for $1000 you will pay 9.94.
Regarding the management company, exactly, I gave them my bank account details in TW and for them it's like an American account for all intents and purposes.
Roni
Thanks for sharing! How did the management company transfer to them? You basically give the management company your TRANSFERWISE account number and then it functions like a bank account? Thanks again
Tal Laxer
What is the fee? Can dollars be transferred without conversion?