Chile Forum

Fugger wrote:I made two transfers of more than USD500k each in July. Paid zero on one and USD 50 on the other one. Please PM me if you need more info.

why pm? it's not off-topic, would be informational if you let the group know what bank is doing that. that's kind of the point of the thread. would also like to know what kind of peso spread they were quoting you.

the gotcha i mentioned in the first post, is that usually when the fees are low they have a nice fat 4% (sometimes a lot more) spread they're making on the exchange rate. so you're paying your 2% from midpoint on the exchange and/or their fee whether you like it or not.

having said that, i personally went in to itau today on other business and had a chat with my rep. he quoted 1% plus their exchange at 455 (it was trading 460) to transfer 200k, but the immediate sheepish look on his face when he did the math made it obvious he wasn't going to charge me that. i immediately said, "ah, entonces conversable", he laughed and agreed.

i think $500 is probably a good goal to shoot for including the fx premium. my current plan is to negotiate down the fee pointing to his large fx spread and ask for a max cap like nwdiver's deal (doubt the fx rate will be very flexible though)... then, i'll wire it in from xe in clp, hehe.

For me its USD to USD no exchange, and yes cap at $500 so for 500k thats what 0.1% I won't sweat them that.

What Canadian and Chilean banks do you use nwdiver?

I am looking for a solution to transfer money back from Chile (BCI) to Canada (CIBC).

Aedmunds wrote:What Canadian and Chilean banks do you use nwdiver?

I am looking for a solution to transfer money back from Chile (BCI) to Canada (CIBC).

Bank of Nova Scotia on both ends (USD accounts), or Bank of Montreal USD account to Scotia Bank Chile USD account. I keep it in USD for transfers as they then can’t play the currency exchange game on me, the clearing of ScotiaBank Chile goes through their clearing facility in the US.

Why send money to Canada