Visit our COVID-19 site for latest information regarding how we can support you. For up to date information about the pandemic visit www.sacoronavirus.co.za.

bs-regular
bs-extra-light
bs-light
bs-light
bs-cond-light-webfont
bs-medium
bs-bold
bs-black

Community


Share knowledge. Ask questions. Find answers.

Online Share Trading

Engage and learn about markets and trading online

Need some advice on getting money from overseas

Reply
Not applicable
I have a birthday song composing business - I sing the birthday persons name into a birthday song I composed and email it as an mp3 to whover asked for the song. This allows me to operate anywhere via Twitter for adverts, etc. My problem is getting in the few dollars (say 5 dollars) for doing this if someone overseas wants a song. Could I start an overseas account at a bank there and ask people to pay into that bank? Is there any bank that people could pay into from anywhere without big costs being involved? Should I instead start a bank acc in each country I want to operate?
0 Kudos
22 REPLIES 22
Not applicable
I would say do a US or UK bank acc and link it to paypal. NO paypal in SA ;-(. At least the world knows Paypal and trusts it.... there are SA versions but people outside SA dont know it so rust might be an issue....
0 Kudos
Not applicable
hehehe...rust should be trust, but maybe rust (it wont be used) is fitting ;-)
0 Kudos
Werner_1
Super Contributor
0 Kudos
Werner_1
Super Contributor
0 Kudos
Not applicable
Thanks - that is a good idea that I was thinking of. Do overseas banks have high monthly charges. What bank is a good choice? You can have a free happy birthday song with a birthday name sung in if you like The tune is Good Birthday Wishes near bottom of http://www.ilike.com/artist/Swayseeker/ and I could email it to you
0 Kudos
Werner_1
Super Contributor
In USA I am very loyal to my favourate bank so wouldnt suggest anything else, I would go to Chase (https://www.chase.com/) the most solid, stable and well managed you can get, your money is safe with them.
0 Kudos
Not applicable
Thanks. Are charges high? If I had only a few dollars in would they disappear from charges? You can also have a free song with name sung in if you like. the tune without name sung in is free for anyone in fact (free mp3 download)naer bottom http://www.ilike.com/artist/Swayseeker/
0 Kudos
Werner_1
Super Contributor
the tune singer... i am not 100% sure of charges, but they lower than in SA. You will see that by getting a Chase card you dont pay an annual fee. just check that website out... then you can contact a representative if you like for further info.
0 Kudos
Not applicable
0 Kudos
Not applicable
Have checked out Chase. Cannot see a South African rep. What about BARCLAYS. Could this work smoothly via ABSA if I got a Barclays acc in UK?
0 Kudos
warhippo
Super Contributor
Eddie, it won't be easy to open a US Bank account without a social security number. Although, possible, but my feeling is that you might need to be there in person to do this. (Not talking about share trading acc.) The biggest issue with these bank accounts (without a social sec. numbers) are that they would not allow electronic transfers to them from other individuals -even if they are from the same bank group in other states or same state.
0 Kudos
Werner_1
Super Contributor
Yes, you will need to be there in person. But if you there Chase will open an account. thats the only problem though...
0 Kudos
Not applicable
Wells Fargo offers a bank account for foreign citizens that may suit your needs. It looks like you can open the account from your country of residence. Have a look here: https://www.wellsfargo.com/inatl/consumer_services/personal_banking.jhtml
0 Kudos
warhippo
Super Contributor
0 Kudos
saash
Super Contributor
0 Kudos
Not applicable
ABSA/ Barclays - Barclays is parent compay to ABSA but not linked by accounts. They are still two seperate business units and companies effectively. You cannot open a full Barclays account in SA (nor have an ABSA one that is linked to a Barclays one), they do have a foreign national outlet in Illovo last I remember but not for opening accounts, they just take instruction to interact with UK network. As I am a EU citizen I have UK account with them that I manage online but I had to open it in person in the UK. I think most banks/countries will have similar requirements as they need to verify you and get copies of passports/soc sec/ other statutory requirements etc. But to be honsest have not develed into the offshore accounts for a while as SA is my home.
0 Kudos
Brazen
Super Contributor
Never mind the banking details. Will you sing the birthday songs in the nude for 6 dollars? I might have a market for that kind of thing.
0 Kudos
DST
Super Contributor
0 Kudos
Brazen
Super Contributor
Very dry here old boy, as you probably know. Been busy doing stuff for a while. Back now, tho.
0 Kudos