Posted by: midwestdude October 16, 2007
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when you send money thru wamu, you are not charged any outgoing fee by wamu. however there is an intermediary bank involved. this bank is usually one of the global banks like citi, hsbc and american express. they will charge anywhere from $10 - $40 per transaction (not amount sent). various banks of nepal have accounts in these NY based intermediary banks where the money is deposited. so if you can match the bank in nepal with the intermediary bank, you may be able to save some money (not a whole lot). for e.g. himalayan bank has an account with citi NY. you go to wamu and do the wire transfer but when filling the form tell wamu that you want to use citi NY as the intermediary bank. you can acquire the intermediary bank's ABA, swift and nepali bank's account no there from the bank in nepal. if the wamu rep is knowledgeable, you can do it easily. i've trasferred a very large sum (more than a few thousand) once for only $10 'cause citi NY charged only that!
the bottom line, wamu & nepali bank do not charge any fee. NY intermediary bank charges a low fee if you ask the money to be sent to the account of the nepali bank in this intermediary bank.
the bottom line, wamu & nepali bank do not charge any fee. NY intermediary bank charges a low fee if you ask the money to be sent to the account of the nepali bank in this intermediary bank.