I am in Taiwan. I have $60,000 USD that I want to send to Taiwan for possible downpayment on a house. What is the best way to do that?
I successfully transfered $1000 USD using my Bank of America app, but I think that might be my limit and I don’t want to do that 60 times incurring fees each time.
I doubt that’s the actual limit for a wire transfer? It’s much too low. Maybe you just need to contact your bank to set it up rather than doing it to a new account in the app?
Wire transfer, and transfer it all at once, without splitting them. Splitting them will get you red flagged.
You will have to call the bank or something, because apps will have limits… they’re trying to prevent fraud and such.
I second this, just contact your bank with the account details and swift code of the account you’re sending it to (you have tried a small amount so you know it works) and get them to send it in one go.
I would also go to your Taiwan bank and tell them to expect the payment so you don’t get a random phonically some time.
Carrier pidgeon
Absolutely.
If you split them 60 times, by the 10th time your account will be flagged and closed, and money frozen as they will suspect you of money laundering.