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Anonymous

20 May 2020

∙

General Investing

What are methods I can use to minimise bank fees on overseas transfer for overseas RoboAdvisors?

I am interested in investing in an overseas roboadvisors. To transfer funds to the roboadvisor I would have to perform a bank transfer. This incurs bank fees of USD30 which is way too much in my opinion especially since I’m investing <$500 per transaction.

Are there online services that provide cheaper fees? Maybe an online remittance service ,etc.

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Wrong Sean

19 May 2020

You can look at TransferWise as they do provide US banking details. Any bank transfer out is sort of like “local bank transfer” to another US bank. Also their forex rates and transfer fees would probably be lower than USD30.

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Which is the least costly way to pay overseas legal fee for USD, need to transfer via bank account. Bank is Banco do Brasil.

Hi. If I need to transfer S$1x,xxx to a European bank account, is it better to use DBS Remit (no fees, same day transfer) or DBS MCA account?

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Hey, I use Wise to send money abroad. Really easy and a lot cheaper than the bank! Give it a try with a fee-free transfer of up to 600 USD. https://wise.com/invite/w/sudhakard27

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