Transferring Money Overseas

[ausaviator]

Is it in the Caribbean? They tell me $29 a foot is roughly the going rate for a survey.

I would be a little weary about losing the deposit / or a non-refundable deposit; most brokers refund it. Anything away from the norm should have been ringing alarm bells.

[Dragon Lady]

Yes maybe what I'm doing is not for everyone.

[capn_billl]

I would contact the receiving bank, (or person) and ask what their preference is. For holding funds a short term large transaction, I have used money order or cashiers, (counter), check. Travelers checks are another option. A local bank should have no trouble with any of these, but if you ask, it will be sure.

[boatman61]

Go to your bank in OZ and ask them to make out a bankers draft for the said amount in euro's.... basically what you end up with a cheque that is as good as cash to present at final settlement... the monies are transferred to a holding area till the cheque is redeemed or cancelled... let the vondor know your plans so he can alert his bank as to whats happening... also you get the best rate.
I used this method in NC, USA... it was a bit difficult at firstas the Bank Manager in New Bern had never seen... and I doubt heard of this method of trnsfering funds internationally but after calling HO and getting confirmation this is normal proceedure everything went through just fine...

[SvenG]

Several years ago, before we banned BofA, they simply couldn't tell us where the money went, they lost it. One of the memorable incidents was when we called to find out if they had found it and they said 'no, but I have to hang up there is a customer waiting'. Guess once they lost our wire transfer we were no longer customers.

They did finally give the money back that time.



-Sven

[GordMay]

Originally Posted by SvenG

Several years ago, before we banned BofA ...

You actually banned the Bank of America?
From doing what, and effective where?

[SvenG]

Originally Posted by GordMay

You actually banned the Bank of America?
From doing what, and effective where?

From our household effective worldwide. Our household isn't that big but it applies where-ever it happens to be at the moment.

Don't ask me about the ID theft and BofA's active role or you'll ruin my whole day



-Sven

[Dragon Lady]

Thanks for the advice the vendors bank has told me to sling my hook and just deposit the money into the vendors account.
I gues it's a French thing.
I'm now looking at setting up a HSBC account in France.

Just recieved my insurance quote fron Pantaenius at least that was a pleasant supprise.

[surfmachine]

avast, michele pippen in Langkawi suggested a mob in the UK who convert your aud into euros for no charge and deposit into the recipients bank account, so all you get charged is the 25aud for the transfer from your aussie bank, who normally charge 1 to 2% on currency conversions. try them at
Steve Legg
Senior Currency Dealer
Global Currency Exchange Network
Tel: +44 (0) 8456 718400
Fax: +44 (0) 8453 058254
Email: steve.legg@gcen.co.uk
Web: www.gcen.co.uk
cheers from Keith.

[surfmachine]

Ahoy, did you manage to get hull insurance for offshore? I could only get 3rd party from pantaneus.
Keith.

[meyermm]

Originally Posted by Dragon Lady

Yes maybe what I'm doing is not for everyone.

Why are you doing it this way? Many Australians have bought boats in the Caribbean, transferred money etc without a huge amount of drama which you seem to be having. But they did go over and pick the boat, oversee the survey etc. I suggest a large cup of coffee and a long hard think. This is not the only boat in the world but it may be the one you are going to get stung by. You are very trusting of others more than I would ever be with the large amount of money involved.

[meyermm]

Originally Posted by surfmachine

Ahoy, did you manage to get hull insurance for offshore? I could only get 3rd party from pantaneus.
Keith.

Must have been a reason as I found that company to be very good and had no trouble once all areas of defect found in survey were corrected.

[Dragon Lady]

Thanks there's no drama, I'm just trying to avoid having to wait for the funds to clear after I've inspected the boat. I will then have to wait untill I can register the boat when I recieve the clearance certificate and the bill of sale.

[Dragon Lady]

Originally Posted by surfmachine

Ahoy, did you manage to get hull insurance for offshore? I could only get 3rd party from pantaneus.
Keith.

Hi yes they offered me hull insurance with varying terms depending on where the boat is located very reasonable.

[surfmachine]

Gee, are you going outside the 200 mile limit, ie outside australian territory and into Indonesia, fiji etc. What % of hull value was the insurance if its ok to tell?
I did not have a survey and I was sailing alone in Indonesia, they were very reasonable on the 3rd party. They said it would be ok in the usa, western european and australian local waters.
Thanks from Keith.