OANDA Forex Forum

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#1 June 18, 2004 22:03:00

heathslaughter
Member
Member #3854
From: Paradise Valley, Arizona
Registered: 2004-05-03
Posts: 29
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Better Banks?

Could people post different experiences with various banks? personal or business...doesn't matter. I was wondering in there are banks either in the states or abroad that offer low wire transfer rates and doesn't put holds on checks over $5,000US. Pretty much a bank that caters to a more affluent person. I have searched locally to no avail, they all offer the same package: $25 wires and a 2 week hold on checks, like it's a industry standard.

I'm sure there are offshore accounts that offer better. Could someone please rattle off a few names that might help everyone (myself included.) I've got a shiny new 5 star rating to dish out to someone. [Wink] Thanks in advance!

-Slaughty

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#2 June 18, 2004 22:30:00

MikeY
Member #719
From: California
Registered: 2002-01-25
Posts: 3241
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Better Banks?

Bank Of America, if you have a Prima account. All out-going wires are FREE.

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#3 June 19, 2004 09:06:00

TheAdvisor
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Member #3974
From: Orlando
Registered: 2004-06-03
Posts: 11083
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Better Banks?

Washington Mutual Platinum Account.

No monthly fee, lots of benifits, pays one of, if not the, highest interest rate, and FREE Bank checks, or certified checks.

Using a bank check, Oanda's processing is only 3 days.

Advantage: when getting money back from Oanda, they return it the same way they got it---- if by wire they charge a fee, if by check it is free.

So, you only have to figure if the fee is worth it to save time (3 days), plus a possible hold if you deposit their check.

Banks are funny. Seems they all have their own rules. At another bank, I have an acccount there for over 15 years. I had $500 in there, and deposited $4000 check -- no hold, available the next day. hat was a local check. Out of state checks are 3 days hold only if amount is larger than my account balance.


*** "The trend is your friend, until the end, when it bends" ***
so, Don't bet the farm
.
The USD is doomed, or, if they keep it strong, the U.S. is doomed
.
Do you have your garden in yet? Have AMMO?

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#4 June 20, 2004 02:21:00

ElectricSavant
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Member #4058
From: USA
Registered: 2004-06-19
Posts: 1227
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Better Banks?

Citibank is the best and the biggest. You can send a wire for $18.00 and never visit the bank...do it all online...its great.

Michael B.

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#5 June 20, 2004 04:45:00

ChrisDragonKni
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Member #3754
Registered: 2004-04-11
Posts: 1842
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Better Banks?

Citibank is NOT good. For non-US citizens they charge outrageous fees for wire transfer. On this site http://www.citibank.co.uk/uk/aboutcitibank/general/tariffandinterest/charges.jsp

they quote

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#6 June 20, 2004 17:53:00

ars
Member
Member #2149
From: prague, czech republic
Registered: 2003-04-04
Posts: 212
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Better Banks?

Lateko. 15$. value date - tom. simple interface.


ars

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#7 June 23, 2004 15:28:00

Altman
Member
Member #3820
From: Charlottesville, VA
Registered: 2004-04-27
Posts: 1027
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Better Banks?

Slaugh --- since you are a pro, the major brokerage firms will be happy to help you. They'll even pay for your Bloomberg. For modest (for an institution) accounts you can negotiate office space, car service, free EFT and wire transfers and everything else you need.

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