Why is Being Rich So Hard?

[Sava]

You're clearly on an FBI watch list.

We all are.

[Jon Miller]

My experience is that the best is to just use an ATM card. This only works if you are physically present, or get two ATM cards and give one to a trusted person in the other country (parent?). It gives a good exchange rate (the best, in my experience) has no overall limit although a relatively small limit per day.

Note that I am nowhere near rich.

I also used https://www.xe.com/fx while I was in Sweden and it worked very well, however, it didn't allow me to continue to use it in Belgium and I am not sure if that is due to geography or a change of behaviour from them.

This advice is all wrong if you can't do banking in the Philippines.

JM

[Jon Miller]

Does Barclay's Bank have branches in the Phillipines?

My experience is that there is no link possible (for someone like me) between two different countries even if it is the same corporate bank.

Maybe Aeson is actually rich though and not just upper middle class.

JM

[Jon Miller]

My experience with actual rich people is that they basically didn't need to do transfers...

JM

[My Wife Hates CIV]

cash only... I've been living like this for years. even going to Chicago for weekend... hyatt hotel right there on wacker drive takes cash for the weekend. parking is cash... dinner even at signature restaurant, cash. if you cant party on cash you shouldn't party. cash cash cash... is this even on topic? been drinking...

[Aeson]

Rich is a relative term. I'm just being sarcastic about it actually being hard ... though the banking process is very obtuse ... it's still much nicer to have the money than to not have it

As for ATMs, the nearest one I would use is 2 to 3 hours away and they have very low withdrawal limits. The rates (including fees) I'd get by using my US card are abysmal.

The safe to use ATMs are right next to the bank anyways. The people in the banks are very nice, so I don't mind doing the banking on this end at all.

Then everything is cash from there on out. Outside of the malls and resorts, very few places accept credit/debit cards. Even in the malls most of it is cash basis.

[Aeson]

I also used https://www.xe.com/fx while I was in Sweden and it worked very well, however, it didn't allow me to continue to use it in Belgium and I am not sure if that is due to geography or a change of behaviour from them.

I've taken a quick look at that and it looks awesome.

[Dinner]

My suggestion is to move to a non-3rd world country with a modern banking system.

Failing that bitcoins might work but I suspect if you can't even find an ATM with in two hours drive then you probably would have the exact same problem with bitcoins.

[Aeson]

But I like it here.

[Dr Strangelove]

My experience is that there is no link possible (for someone like me) between two different countries even if it is the same corporate bank.

Maybe Aeson is actually rich though and not just upper middle class.

JM

I lived in Grenada and St. Vincents for 3 years and had no trouble transferring funds other than paying customs taxes.

[N35t0r]

I think that what he means is that i's not particularly easier to transfer funds internationally between branches of the same bank than it is to other banks.

[Jon Miller]

I think that what he means is that i's not particularly easier to transfer funds internationally between branches of the same bank than it is to other banks.

Yes.

JM

[Koyaanisqatsi]

Failing that bitcoins might work but I suspect if you can't even find an ATM with in two hours drive then you probably would have the exact same problem with bitcoins.

I'm almost positive that's not the biggest problem with that suggestion.

[Dr Strangelove]

I think that what he means is that i's not particularly easier to transfer funds internationally between branches of the same bank than it is to other banks.

Much of that depends upon the laws of the countires involved, but Barclay's is kind of designed for international transfer of funds, it's one of the remaining banks from the days of the old European empires.

[pchang]

I used to use Barclays in the Channel Islands and Monaco. They were good between the US and Europe. For the US and Asia, I like HSBC.