Post # 1
Fiance and I are getting married soon. In my culture, it is traditional to gift money at a wedding and it’s become popular in his country as well, so our relatives from overseas have started asking us about how to gift us the money they would like to give…
We both live in Canada and have relatives overseas. There are some who won’t be able to come to the wedding but would still like to send us a cash gift, but I’m not sure what the best method for them to do that would be… should we give them our bank account numbers so they can wire us the money? Is there a more elegant/painless way for them to do this?
Have any of you dealt with something like this before?
Post # 2
I once went to a wedding in Panama where it is pretty standard to provide bank wiring instructions for wedding gifts. I think if people ask, it’s perfectly acceptable to give them your Paypal. Venmo or wiring instructions, whichever they prefer. But I would wait until they ask.
Post # 3
zl27 : as I mentioned in my OP, they HAVE been asking, which is why I posted this 🙂
We don’t have Venmo in Canada, unfortunately, but I will look into PayPal. FI’s family told us to provide bank wiring information, but our banks in Canada charge $15-$18 for incoming wire transfers (which I find so ridiculous), so we’d like to avoid paying that much if possible.
Post # 4
hermionegranger : I haven’t dealt with this personally but just wanted to mention that although the wire transfer may have exhorbitant fees, other methods may seem cheaper but the actual exchange rate is less, so make sure you check how they calculate the rate.
Post # 5
Is there someone who you trust in each country people are sending money from, who money could be sent to and then they forward as a lump sum? Or do either of you have another bank account in another country?
Post # 6
youngbrokebride : excellent point! I will keep an eye out for that .
sensoda : great idea! I’ll have to check if that’s possible .
Post # 7
hermionegranger : I still have a bank account in my home country, so everyone from there either gave my mum cheques in my name which she deposited, or they transferred directly into my UK account. Then I can withdraw the money as I want to using my visa card (which has very good rates for international withdrawals).
If you get it all to be given to someone else and forwarded as a lump sum, you do need to be careful about maximums for international transfers.
Post # 8
I don’t live in the US, but my FIs family does. They send us money for our birthdays, Christmas etc. They all just send it as cash with a card. Usually in a tracked envelope. We just bring the money to our bank and they will cash it in to our bank accounts. If you do it all at once, the transaction fee won’t be that much. 😊 I think we pay around $5-$10 per transaction.
Post # 9
hermionegranger : will they be traveling to attend the wedding in Canada? I’m in the US but we had a lot of Canadians come down for our wedding and they took out US dollars once they got here and stuck it in a card.