[LINK] RFI: Overseas Payments

[Jan Whitaker]

At 06:25 AM 19/03/2014, Martin Barry wrote:
>Roger, we had a slightly different experience where the rate we saw on the
>website was locked in as soon as we submitted the trade. There was a phone
>call within 30 minutes from one of their reps to double check it but the
>rate was locked at the earlier time. We then had a day or two to transfer
>the money. Not sure if this is how it works for everyone or just because we
>were a known, good customer.

I think the phone call thing is for the first transaction -- the 
hand-holding I mentioned. I can't imagine they would do it every 
time. Can't recall the advice on the website. But yes, you are 
advised that the transaction will be locked in when you finalise it online.

I also asked about the time available for doing the transfer from the 
other side and they were happy with 2 days, and even said if you let 
them know because a weekend intervened, they would try to work with 
the client for that as well. They are aware of such time breaks in 
places like the US and time zone issues. Because there may be a 
penalty if the transfer wasn't initiated in a timely manner, it's 
lower risk to do it at the beginning of the week if possible.

Jan



Melbourne, Victoria, Australia
jwhit at janwhitaker.com

Sooner or later, I hate to break it to you, you're gonna die, so how 
do you fill in the space between here and there? It's yours. Seize your space.
~Margaret Atwood, writer

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