Quote:
Originally Posted by JustJ
Heard Zombaio Intermediary bank is charging $20
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Zombaio does not have an intermediary bank. The receiving bank sometimes has a intermediary bank to be able to receive international wires. If you are receiving money from Zombaio or ANY other international wire, you fee will be exactly the same. Discuss this with your bank, and see what they can do. It is only in VERY FEW cases an intermediary bank is used.
Our recommendations:
1) Ask the bank for a BIC/SWIFT code and provide us with that code (if you have not already done this). Many times when we just receive the routing and bank account number, the receiving bank must use an intermediary bank. Providing us with your BIC/SWIFT code may help you to skip the intermediary bank.
2) Switch bank or open an account for your international wires in another bank. For example we know that Chase is using themselves as intermediary bank and charge you a fee for that
. While for example Bank of America does not charge you for incoming international wires (tested on Florida branch).
3) Set weekly or monthly payouts instead of daily to save in on wire fees.
4) Hold on a few more weeks till we release RedPass and introduce ACH. If not 1-3 will solve your wire fees problem, this will definitely!