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  #1  
Old 12-20-2014
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Default transfering money abroad

i regularly send money to china and the amounts im transferring are around 2000

does anyone know of a good service to transfer money to my supplier?

i have used western union in the passed however they seem to refuse to send the transfers on occasions.

my bank the only one i have refuses to send international money transfers to china for some reason and have blocked international transfers out of my account, i dont know why.

any other service providers people know of?
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Old 12-21-2014
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Default Re: transfering money abroad

does the supplier take credit card? I would only send money of that amount in a protected way anyway.....bank wire and WU is not protected.

Have you considered sending part of the money (not all) via paypal? I have done this, as the supplier knows I have some leverage if something goes wrong as is more likely to behave, even if the rest of the money is sent in a more unsecure manner.....
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Old 12-21-2014
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Default Re: transfering money abroad

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Originally Posted by oompaloompa View Post
does the supplier take credit card? I would only send money of that amount in a protected way anyway.....bank wire and WU is not protected.

Have you considered sending part of the money (not all) via paypal? I have done this, as the supplier knows I have some leverage if something goes wrong as is more likely to behave, even if the rest of the money is sent in a more unsecure manner.....
i have no trust issues with my supplier. we've been working together for a couple years now. Trust isnt the main issue here its just transferring that amount on a monthly basis appears to cause issues for me.

my bank has closed off international payments on my account.

western union sometimes lets me use thier service but occasions they refuse to send it.

i have used post office internationl payments service before but they have reciently asked for some documents on where the money comes from and why i need to send it to the person, i have no idea what docs to give them so now looking for some other service provider.

no they cant accept credit card.
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Old 12-21-2014
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Default Re: transfering money abroad

It sounds like you need a new bank.
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Old 12-21-2014
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Default Re: transfering money abroad

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Originally Posted by yankee View Post
It sounds like you need a new bank.
i think most banks would have issues with the amount i send over a year to one recpeint no?
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Old 12-21-2014
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Default Re: transfering money abroad

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Originally Posted by screwbay View Post
i think most banks would have issues with the amount i send over a year to one recpeint no?
No.

Big business send billions.
I send tens of thousands at a time.
It is just business.
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Old 12-21-2014
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Default Re: transfering money abroad

Quote:
Originally Posted by screwbay View Post
i think most banks would have issues with the amount i send over a year to one recpeint no?
Not if your working relationship with the bank is OK.

Are you using a current account for this business or something else?

Why not change banks?

Info missing from this so we can't give better help.
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Old 12-21-2014
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Default Re: transfering money abroad

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Originally Posted by GreenBean View Post
Not if your working relationship with the bank is OK.

Are you using a current account for this business or something else?

Why not change banks?

Info missing from this so we can't give better help.

hi its a current account. and the only account i have with a high street bank.

im considering applying for another bank account in the future, but im just guessing they may do the same too in the future once a certain amount of money has left the account.

i dont know what the rules are for transferring money overseas in the UK. I guess it is kind of strict here with money laundering laws etc.

The transfers are legitmate business transactions so i dont see why there would be a problem.
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Old 12-21-2014
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Default Re: transfering money abroad

are you using a buisness account?

I can not imaging a few thousand a day would be an issue at all. How can you operate business without buying goods and services? In the whole scheme of things it is a very insignificant amount of money.
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Default Re: transfering money abroad

Quote:
Originally Posted by yankee View Post
are you using a buisness account?

I can not imaging a few thousand a day would be an issue at all. How can you operate business without buying goods and services? In the whole scheme of things it is a very insignificant amount of money.

i have no experience with a business account but maybe then i would be able to freely transfer any amount i wish.
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Old 12-22-2014
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Default Re: transfering money abroad

Quote:
Originally Posted by screwbay View Post
i have no experience with a business account but maybe then i would be able to freely transfer any amount i wish.
You should not be having these issues. I understand the UK has interesting banking and transfer laws but as a business you should not be having these low limits.

I wish you luck!
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Old 12-22-2014
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Default Re: transfering money abroad

You thought about transferring using Transferwise. The money can be sent to a recipients bank account but you make the payment direct from your credit card and it then debits their bank usually in 2-4 days.

They don't have to be signed up to Transferwise to do this either

Please note, you need to use a debit card as they don't accept the payment being made from a CREDIT card only DEBIT
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Old 12-22-2014
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Default Re: transfering money abroad

Quote:
Originally Posted by Callidus View Post
Please note, you need to use a debit card as they don't accept the payment being made from a CREDIT card only DEBIT
Might be tricky then if there was a chargeback.....


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Old 12-22-2014
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Default Re: transfering money abroad

If you do a bank transfer...do it from personal account - business account has unnecessary added fees in general
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Old 12-22-2014
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Default Re: transfering money abroad

Why on earth suggest a personal account when the OP says the bank is blocking transactions?

If he goes with using a bank and in the UK, the better option is a business bank account.
UK banks are weird about personal banks and their acitvity.
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Default Re: transfering money abroad

Quote:
Originally Posted by GreenBean View Post
UK banks are weird about personal banks and their acitvity.
Correct...they hate business transactions through personal accounts!!
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Old 12-22-2014
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Default Re: transfering money abroad

Quote:
Originally Posted by GreenBean View Post
Might be tricky then if there was a chargeback.....


OP may need to check, it was either you can't pay from a CC or it's restricted to a certain amount.
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Old 12-22-2014
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Default Re: transfering money abroad

Quote:
Originally Posted by Callidus View Post
You thought about transferring using Transferwise. The money can be sent to a recipients bank account but you make the payment direct from your credit card and it then debits their bank usually in 2-4 days.

They don't have to be signed up to Transferwise to do this either

Please note, you need to use a debit card as they don't accept the payment being made from a CREDIT card only DEBIT

hi i have considered them althouh they dont transfer money to china.
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  #19  
Old 12-22-2014
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Default Re: transfering money abroad

Quote:
Originally Posted by Callidus View Post
Correct...they hate business transactions through personal accounts!!
Yes, the UK bank are not receptive to personal accounts being used for business.

Known fact for people who actually do use the UK banking system extensively.

Accounts are checked too often so risky for stealth users.
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