Major Bank? Regional Bank? Local Bank? Credit Union?

[Badjer]

Without giving too much personal information... What type of financial institution do (did) you use to send your money to Africa?

I used to have a local bank, that got swallowed up by Bank One- then Chase swallowed them. I decided to move my money to a regional credit union that gets high reviews. I have not had luck with them. (read as: another part of my Africa trip disaster)
When it came time to send the deposit for my S.A. trip, two different people in the branch closest to my home argued with me about sending money to Africa. I told them It was an established outfitter. I even had a copy of transfer information from the outfitter! We went back and forth for at least 10 minutes before I got mad and walked out. NO deposit sent. --A few days later I went to a different branch in a nearby town. I didn't say anything about my experience at the other office. I showed them the sheet of account transfer information... A second worker then the manager got involved. Over an hour later the money was transferred. Multiple days, multiple offices, multiple "clerks" and a three day headache for me to start my "African Experience" So to repeat.
What type of financial institution do (did) you use to send your money to Africa?

 

[Mark Biggerstaff]

If I have to wire transfer my home town local bank does it no issues. Takes about 5min for paperwork. They call me an hour later to verify(lady that processes it) and it’s done. No big issue at all.

Also I like it when an outfitter has US bank account or sends bill thru a payment portal from Africa. Can use a credit card to make payment

 

[kdenn]

I use a large regional bank. First couple wire transfers took a little extra effort but now I’m able to do it much faster and easier.

 

[JimP]

When I have sent money to a outfitter in South Africa I have answered a few questions from the tellers at my regional bank. They are just covering their bases and ask if I know who is requesting the money along with how did I get their banking information but usually after a few questions they go ahead and send it off.

In today's world you can't be too careful but when you tell them that you know what is going on and you personally received the email with the outfitters banking information everything should of went through with no problems.

One nice thing with my last outfitter was that he has a bank account here in the US to send money to, but even then my bank does ask the same questions just to cover the bases.

 

[LimbNoMo]

Wells Fargo was fairly simple. Set up the outfitter as a recipient in the app, then send the money. I was unable to do so while in Africa though.

 

[Mekaniks]

I have used Wells Fargo, hometown credit Union and Zelle (PayPal service)
Zelle was by far the easiest since I could do it from home. The downside is they wont transfer to some financial institutions overseas (some banks in Namibia for example).
Wells Fargo and my credit union both asked basic questions about the destination, i.e. “do you know where your sending this money” but I never had them refuse to do the transfer.

 

[Winmdl71]

I use a small regional bank. They questioned me a little the first time I transferred money to Africa but it was still pretty hassle free. Since the first transfer it’s become a pretty easy process. It helps that I’m in a small town and everyone knows or at least is familiar with most people which makes things easier.

 

[375Fox]

For an international wire I find larger is easier. I can do it all online in 5 minutes with text message dual authentication instead of going in and signing forms and taking a lot longer with someone unfamiliar with process. I do however do most of my banking with regional banks. I like the customer service for everything except international wires.

 

[BeeMaa]

We have used a credit union to send cashier's checks to our outfitter's representative in the US for deposit into a US based bank account. We have also done wire transfers from the credit union to a bank in South Africa.

We won't pay with credit cards because of the additional charges and exchange rate fluctuations. We do take over a good bit of cash for tips and to pay off the balance at the end of the safari.

 

[375Fox]

I have used Wells Fargo, hometown credit Union and Zelle (PayPal service)
Zelle was by far the easiest since I could do it from home. The downside is they wont transfer to some financial institutions overseas (some banks in Namibia for example).
Wells Fargo and my credit union both asked basic questions about the destination, i.e. “do you know where you’re sending this money” but I never had them refuse to do the transfer.

Zelle isn’t associated with PayPal. Venmo is PayPal’s equivalent service.

 

[bakerb]

I always use my local small town bank. But my experience maybe shouldn’t count. I was on their board for 8 years before I took a job that required me not to have those associations. So they knew me pretty well .

It’s a small bank, but worked great for wire transfers, ordering foreign currency, etc. and my old office was 150 feet from their door. So it was handy too

I prefer the small banks where the customers and the employees all know one another. Very helpful in my experience

 

[jomw10]

I used wise for the deposit. No questions ask, but I tried to pay the balance from South Africa and they sent the money to the wrong branch of the same bank. I still don’t understand why the bank didn’t just credit the money, it was returned (after more than a week). Then I sent payment from my credit union, I had to provide an invoice and assure them it was not been sent to an scammer

 

[Betterinthebush]

Small town farmers bank. Wife and I in, close the door to our banker’s office, walk out 5 minutes later. WhatsApp the outfitter to expect deposit of $XXXX.00. Simple

 

[joker2400]

Regional credit union. Haven’t had any issues except having incomplete information from the outfitter.

 

[Mekaniks]

Zelle isn’t associated with PayPal. Venmo is PayPal’s equivalent service.

It’s Xoom. My bad, sorry. Xoom is the PayPal wire transfer service. NOT Zelle…..

 

[gcbailey]

I actually almost exclusively use chase for my hunts and hunting wire transfers. My primary bank is USAA, but I transfer money to my Chase account and wire transfer from there. I may be dead wrong, but I feel more secure traveling with my Chase card that only has a few hundred dollars on it rather than my USAA card that has my and the kids savings accounts connected to it.

 

[Mekaniks]

I actually almost exclusively use chase for my hunts and hunting wire transfers. My primary bank is USAA, but I transfer money to my Chase account and wire transfer from there. I may be dead wrong, but I feel more secure traveling with my Chase card that only has a few hundred dollars on it rather than my USAA card that has my and the kids savings accounts connected to it.

That brings up a very good point.
It’s always much safer to transfer money in / out of an account that is dedicated for external electronic transfers. Using a standard checking or savings account that has additional funds in it above the transfer amount is asking for problems….
As an example, companies that provide electronic payrolls have dedicated external transfer accounts for that purpose. The funds are transferred from their regular accounts into the transfer accounts on payday, so that employees banks do not have access to the company’s regular accounts….
I have set up the same basic system at my personal bank. It requires an extra step to transfer money, but it also provides an extra protection.

 

[Tanks]

Chase Private Banking. I text my banker with the transfer information, and it gets done. I don't have to explain myself.

 

[meigsbucks]

I’ve used Chase for wiring funds to outfitters and for shipping…. No issues.

 

[Altitude sickness]

The last outfit I used in Zim last year. Has a US bank account. So I took a photo of a filled out check from my checking account. And sent it to my PH. He sent that photo to his US bank. And the funds were transferred.

I could have mailed the check.

Used credit card or wired it. But writing the check and taking a picture took :2