Thread: Sending money to Panama, the cheapest way?

Hi,

I have to send 1000$ from Belgium to somebody in Panama who doesn't have an international bank account.
What is the cheapest way of doing this?

Thanks in advance.

You don't need an international bank account to receive a wire in Panama. Any bank account would do.

Given the amount Moneygram is probably the best option but you will get screwed for the exchange rate and fees on top.

just send it to me , i will give it to them , trust me

Hi tech - do a wire transfer.
Lo tech - mail them a cashiers check via FedEx.

The BEST way, send cash to me because I am paying 12% interest.

How do you get a USD cashier's check in Belgium?

Originally Posted by Global Explorer

Hi tech - do a wire transfer.
Lo tech - mail them a cashiers check via FedEx.

Originally Posted by holl1

How do you get a USD cashier's check in Belgium?

You go into a bank, pay about 800 Euros for a cashier's check and say, I would like this in US dollars please.

So you know that all European banks have US check books with Fedwire clearing? Have you actually done this?

Originally Posted by Global Explorer

You go into a bank, pay about 800 Euros for a cashier's check and say, I would like this in US dollars please.

I haven't used all banks. I have used HSBC so that, in Panama, HSBC could cash the check. There is about a 3 week wait for funds to clear.

So, let me get this right. You have walked into an HSBC office in Europe and walked out with a US cashier's check? Which country and branch was that? You should know that most European countries (except for France) have not used checks for over 30 years.

Originally Posted by Global Explorer

I haven't used all banks. I have used HSBC so that, in Panama, HSBC could cash the check. There is about a 3 week wait for funds to clear.

I did not get a cashier's check in Europe. I said that was an option. I went the hi-tech route as suggested in your previous post.

Do you know where Belgium is?

Originally Posted by Global Explorer

I did not get a cashier's check in Europe. I said that was an option. I went the hi-tech route as suggested in your previous post.

Thanks for all the replies.
I think I'll choose for the MoneyGram option, which implies a 4.1% fee of total amount.
If somebody knows a cheaper solution without using cashier's checks, please let me know!

Originally Posted by mute

Thanks for all the replies.
I think I'll choose for the MoneyGram option, which implies a 4.1% fee of total amount.
If somebody knows a cheaper solution without using cashier's checks, please let me know!

We have been using MoneyGram for the last several years. Xoom is a new option, although we haven't tried them yet, but their rates are the best I've seen.

https://www.xoom.com/money-transfer

I have to deliver 1000$ from The country to somebody in Little who doesn't have an worldwide banking consideration.

I have to deliver 1000$ from The country to somebody in Little who doesn't have an worldwide banking consideration.

Buy social bookmarks and directory submissions

Thanks for all the feedback.
I think I'll select for the MoneyGram choice, which indicates a 4.1% fee of complete quantity.
If somebody knows a less expensive remedy without using cashier's assessments, please let me know!


build cheap backlinks

and what about if you are moving to panama and you are carring quite a lot of money with you?
wich is the better way?

open an account at an hsbc in your city, come to panama open an account here in hsbc, transfer the money from one account to the other.

Originally Posted by TennVol

We have been using MoneyGram for the last several years. Xoom is a new option, although we haven't tried them yet, but their rates are the best I've seen.

https://www.xoom.com/money-transfer

Xoom is a good option, but only for people that have a bank account in the United States...