Our valued sponsor

Receiving payment from and sending money via Visadirect or other techniques- best company or setup?

deraty

Active Member
Oct 4, 2022
102
33
68
50
Turkey
Hi.

I want to tranfer money through Visa direct back and forth. (Receiving and paying).

I have a Turkish card from a provider (e.g. Uption card) which I was able to send money with visa direct to my broker ICMarkets for free.

I asked Uption if I can receive money Visa direct to my debit card. Expecting their response.

My main aim is to send and receive USD back and forth.

For Eur - GBP I can transfer it with a SEPA account provided by a third pary service offered in my country. But converting it from USD costs around 1%.

I want it to be cost to be efficient.

I can not use Revolut, Wise or similer types of payment providers becuase if they send in USD they convert it to my countries currency (TRY) - I want USD transfer back and forth (I need to have USD in my hands all the time)

There is a great service called paysend for Visa direct - but when I want to get paid from my swiss bank (Swissquote) - They ask a Swiss phone number which I do not have. Is there an easy, riskless and low cost of having Switzerland phone number?

My bank Swissquote has SEPA capabilities. But converting to Euro I lose 1% upfront - so I do not prefer.

Swissquote has Visa direct deposit solution. But they do not have withdrawing capability.

What can I do about that? Is there any reliable service that I can benefit from? Whether with using Swisswquote or not.

Thank you.
 
I want to tranfer money through Visa direct back and forth. (Receiving and paying).
This is mainly popular in a couple of CIS countries and neighbouring ones. In most other countries, there is no such thing and debiting / crediting entails costs in the order of 3%.

I can not use Revolut, Wise or similer types of payment providers becuase if they send in USD they convert it to my countries currency (TRY) - I want USD transfer back and forth (I need to have USD in my hands all the time)
The best would be to get a USD account in Türkyie. I think there are many banks that offer this, HSBC I know for sure. You can then do a SWIFT transfer to your USD account. The fees will be about 25 USD flat:
https://www.swissquote.com/en-ch/private/bank/pricing/payment-fees
 
Last edited:
  • Like
Reactions: deraty
I'm fear it is not possible to get it much cheaper than the 2,5% due to your currency!


Hi diro.

What is the problem with my currency (Turkish lira)? May be you misunderstood my post. I will both send and receive USD to Turkey from Switzerland - swift fees must be the same wherever you send USD to USD? But I guess you meant sending Euro is better? I want to send and receive in USD. May be what you told me was unclear. Sorry for not understanding hap¤#"
 
1000 USD? Then you apply for the Bright Debit Card and widthdraw the money at an ATM with USD. It will cost you only 4.95 CHF if you cancel the card within 6 months.

Otherwise, you get a HSBC Premier account in the US and a HSBC account in Türkyie. You then transfer the USD from your Swissquote account to HSBC Premier US with SHA. This will cost you 10 USD on the Swissquote side and nothing for incoming wires in the US. You can then make a transfer HSBC US to HSBC Türkyie for free.
 
  • Like
Reactions: diro and deraty
1000 USD? Then you apply for the Bright Debit Card and widthdraw the money at an ATM with USD. It will cost you only 4.95 CHF if you cancel the card within 6 months.

Otherwise, you get a HSBC Premier account in the US and a HSBC account in Türkyie. You then transfer the USD from your Swissquote account to HSBC Premier US with SHA. This will cost you 10 USD on the Swissquote side and nothing for incoming wires in the US. You can then make a transfer HSBC US to HSBC Türkyie for free.
Thank you Daniels27.
 
  • Like
Reactions: daniels27