Transferring money

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41southchile
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Re: Transferring money

Post by 41southchile » Thu Jun 14, 2018 10:30 am

heres some more info on that banco de chile hack, may not have neeeded to have an insider
"“Targeting financial organizations is part of their long-term strategy and compromising global financial networks via small to medium-sized banks in Central and South America whose cyber-defenses may be less sophisticated poses a higher probability of success,” he explained.
https://threatpost.com/banco-de-chile-w ... st/132796/
In the Lakes Region Chile for 6 years. It looks like New Zealand in some ways, and is nearly at the bottom of the world too, but there the similarities end.

Britkid
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Re: Transferring money

Post by Britkid » Thu Jul 05, 2018 10:43 pm

Britkid wrote:
Mon Jun 11, 2018 3:11 pm
Got this message today on Transferwise.

Sorry, we can not send money to Cuenta Vista accounts in Chile at the moment. We are working to get this changed soon.

Cuenta Vista would include Cuenta RUT.
I managed to send money to Cuenta RUT again this week so looks like the above has been fixed and is old news.

Also, that low daily limit has gone, I sent larger amounts this week of about a thousand pounds in a single transaction. Just have to keep it below 1 million pesos to meet the Banco Estado limit.
In 2014/2015 I blogged about my life in Chile. http://web.archive.org/web/201601121940 ... age_id=268

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admin
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Re: Transferring money

Post by admin » Wed Jul 18, 2018 1:32 pm

Suprise, suprise, there apears to have been someone on the inside the banco de chile hack.

https://www.df.cl/noticias/empresas/ban ... 02610.html
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Re: Transferring money

Post by admin » Wed Jul 18, 2018 1:40 pm

You know the thing that set off my alarm bells about banco de chile's security was a look i had at their stock trading platform a couple of years ago.

I signed up for an account. They send me a link to a an all (8 year old) flash web site, on a diffrent domain, with no ssl encryption. Looked like it was made by some 12 year old in the basement. You could load account pages, by passing their login screen, simply cutting and pasting the "security token" they were using to authenticate. It was so bad i am not even sure it counted as a cross site scripting attack.

I told my wife there was no way we were transfering any money to them.
Spencer Global Chile: Legal, relocation, and Investment assistance in Chile.
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From USA and outside Chile dial 1-917-727-5985 (U.S.), in Chile dial 65 2 42 1024 or by cell 747 97974.

thisisreallycomplicated
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Re: Transferring money

Post by thisisreallycomplicated » Mon Aug 13, 2018 3:13 pm

I'm reasearching transferwise, and just talked to someone there. And he said the current limit is 5 million CLP per transfer. And he didn't see any 30 day limit. Has anyone here tried this recently? The old limits were much lower, because they were working with a different financial
institution/company.

Also, has anyone here tried their borderless account? I'm trying to figure out if it's subject to FBAR reporting. I think USD is held in a US bank, so probably not. But not sure about other currencies. Also, I don't know if balances are insured (FDIC or whatever).
“Now it’s conspiracy – they’ve made that something that should not even be entertained for a minute, that powerful people might get together and have a plan. Doesn’t happen, you’re a kook, you’re a conspiracy buff!” – George Carlin

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tiagoabner
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Re: Transferring money

Post by tiagoabner » Mon Aug 13, 2018 3:59 pm

Transferwise has an official page with their CLP transfer policies, which you can access here. They are not FSCS insured, as can be checked here, although that should only be an issue in case Barclays crashes.

thisisreallycomplicated
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Re: Transferring money

Post by thisisreallycomplicated » Mon Aug 13, 2018 4:58 pm

tiagoabner wrote:
Mon Aug 13, 2018 3:59 pm
Transferwise has an official page with their CLP transfer policies, which you can access here.
That page is out-of-date. If you go to their home page, and get rates for USD to CLP, it'll tell you the maximum is slightly over 5 million CLP. And the guy I talked to said it's because they started working with different people on the Chile side, that have higher limits.
tiagoabner wrote:
Mon Aug 13, 2018 3:59 pm
They are not FSCS insured, as can be checked here, although that should only be an issue in case Barclays crashes.
I don't think it's Barclays in my case, since I'm dealing with the US. I think the money sits in an actual US bank account (possibly Wells Fargo), but I'm not sure if each person's balance is covered by FDIC. And I don't think (but not sure) FDIC would cover anything except USD. So if anything's insured, it could get complicated.
“Now it’s conspiracy – they’ve made that something that should not even be entertained for a minute, that powerful people might get together and have a plan. Doesn’t happen, you’re a kook, you’re a conspiracy buff!” – George Carlin

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eeuunikkeiexpat
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Re: Transferring money

Post by eeuunikkeiexpat » Mon Aug 13, 2018 6:27 pm

thisisreallycomplicated wrote:
Mon Aug 13, 2018 3:13 pm
their borderless account? I'm trying to figure out if it's subject to FBAR reporting. I think USD is held in a US bank, so probably not. But not sure about other currencies.
Doesn't matter the currency, if you own or control any foreign account or accounts, and the total sum reached $10,000+ USD in value at any time during the year, it is subject to FBAR.

Don't sweat it as it is outdated useless digital paperwork of stuff that the Empire already knows about or can find out if they wanted. It is just anther way they can get you for breaking a law so best not to push your luck.
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thisisreallycomplicated
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Re: Transferring money

Post by thisisreallycomplicated » Mon Aug 13, 2018 7:12 pm

eeuunikkeiexpat wrote:
Mon Aug 13, 2018 6:27 pm
thisisreallycomplicated wrote:
Mon Aug 13, 2018 3:13 pm
their borderless account? I'm trying to figure out if it's subject to FBAR reporting. I think USD is held in a US bank, so probably not. But not sure about other currencies.
Doesn't matter the currency, if you own or control any foreign account or accounts, and the total sum reached $10,000 USD in value at any time during the year, it is subject to FBAR.
The problem is, I'm not sure if any of it would be considered a foreign account. I think USD is kept in a US account. But I don't know what happens after it's converted to CLP. Would it be kept in a CLP account, in the same US bank? Do US banks even have CLP accounts? Or is it now CLP held in a Chilean bank?
eeuunikkeiexpat wrote:
Mon Aug 13, 2018 6:27 pm
Don't sweat it as it is outdated useless digital paperwork of stuff that the Empire already knows about or can find out if they wanted. It is just anther way they can get you for breaking a law so best not to push your luck.
My only concern is, what if I make a mistake, or forget to do it on time (even after extensions)? The penalties can be pretty high, even for an honest mistake.
“Now it’s conspiracy – they’ve made that something that should not even be entertained for a minute, that powerful people might get together and have a plan. Doesn’t happen, you’re a kook, you’re a conspiracy buff!” – George Carlin

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eeuunikkeiexpat
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Re: Transferring money

Post by eeuunikkeiexpat » Mon Aug 13, 2018 7:45 pm

Ask them directly about exactly if these are US accounts or a "foreign" account whatever or depending on the currency.

Also, it would be a given they are doing KYC reporting if they are dealing with USD.

Let us know what they say.
Generally, just a SPAM KILLER. You are on your own in this forum. My personal mission here is done.

BUT when necessary, by way of ridicule and truth revelation we shalt do war.

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thisisreallycomplicated
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Re: Transferring money

Post by thisisreallycomplicated » Mon Aug 13, 2018 9:31 pm

eeuunikkeiexpat wrote:
Mon Aug 13, 2018 7:45 pm
Ask them directly about exactly if these are US accounts or a "foreign" account whatever or depending on the currency.
I tried earlier today, but the guy couldn't answer my question. So maybe it's not so simple, or I didn't ask the right questions. Anyway, that's why I'm asking here, in case anyone has more info.
“Now it’s conspiracy – they’ve made that something that should not even be entertained for a minute, that powerful people might get together and have a plan. Doesn’t happen, you’re a kook, you’re a conspiracy buff!” – George Carlin

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eeuunikkeiexpat
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Re: Transferring money

Post by eeuunikkeiexpat » Mon Aug 13, 2018 11:10 pm

Where is my money stored?

All money in your TransferWise borderless account is stored and safeguarded securely in our bank accounts in the UK or USA depending on your country of residence on your profile.

If your profile address is in the US, your money will be stored in our accounts in the USA. If your profile address is in Australia, your money is stored in an account there. If your profile address is in Singapore, your money is stored on our accounts in Singapore and if your profile address is anywhere else, your money is stored in our accounts in the UK.
https://transferwise.com/help/article/2 ... ney-stored
Generally, just a SPAM KILLER. You are on your own in this forum. My personal mission here is done.

BUT when necessary, by way of ridicule and truth revelation we shalt do war.

--eeuunikkeiexpat

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