Hello folks, i dislike carrying alot of cash when I travel to Africa. I found an old posting about TransferWise now called "Wise."

Any recent experience or experience using them to transfer to Africa and specifically Zambia?

I am looking for a solution that will allow me from Africa online/mobile app to transfer money to Africa.

Any suggestions would be appreciated.

Jim

Most wire transfer daily rates etc prior to the safari and settle balances after the safari.

Use a credit card in town and reserve some cash for gratuities etc.

Andrew, how do you settle balances after the safari?

Jim

quote:

Originally posted by Singleshot03:
Andrew, how do you settle balances after the safari?

Jim

Bank transfer.

Thank you Andrew.- you trust your clients

The only country that I have had issues transferring money too has been Zimbabwe. Plus, I could not use my credit card there either. US dollars were excepted, and that was a plus for the small business.

No issues going to my bank to transfer money to Namibia, South Africa or Tanzania

quote:

Originally posted by Bwana338:
The only country that I have had issues transferring money too has been Zimbabwe. Plus, I could not use my credit card there either. US dollars were excepted, and that was a plus for the small business.

No issues going to my bank to transfer money to Namibia, South Africa or Tanzania

And Zambia. I have hunted with Andrew (5) times now, planning #6 for next year. I have always settled my trophy fees with him when I returned to the US, by doing a wire transfer from my bank. Very easy to do. My bank charges $30 for the wire transfer.

I have used Wise to transfer daily fees to Zambia. A client of mine from the UK who is leaving for Zambia today used Wise for both of his deposits.

And credit cards work fine in Zim — at least in large municipalities like Harare, Bulawayo, and Vic Falls.

Singleshot

In my case if a hunter books through me I ask for all daily fees etc up front and they are transferred to the safari operator as they come in. Depending on how far out the booking is for the initial deposit might be 25% with another 25% due a year out from the hunt and the balance 90 days out. As for the trophy fees I ask for a deposit 30 days pre safari. I hold this deposit post safari until I know what has been shot and then and only then do I transfer those funds to the safari operator. A deposit to cover at least the major animals to be pursued is more than sufficient.

I think me holding a major part of the trophy fees until the hunt is finished is safer for the hunter and the operator. Also the hunter does not have to worry about carrying a lot of cash to Africa. Tip and pocket money are all they will need.

All transfers are made by wire or if the operator has a US banking acct I deposit all funds directly into his/her bank acct.

Mark

Done 10 safaris now with 9 different operators. Wired daily before hunt and wired the trophy fees and other costs incurred once I got home.

quote:

Originally posted by Singleshot03:
Thank you Andrew.- you trust your clients

One of the many reasons that if I ever do hunt Zambia, it would likely be with Andrew.

I've always wired a reasonable estimate of trophy fees ahead of time. Sometimes I'm short and I wire the balance when I get back, and sometimes I'm a bit over and I carry that forward as a deposit to another hunt.

Tips are the problem. I can only carry $10,000 in cash and that's not usually going to cover all tips and expenses. I've thought about opening a foreign account, but that creates other tax issues. The Feds want to know why you opened the account.

quote:

Originally posted by lavaca:
I've always wired a reasonable estimate of trophy fees ahead of time. Sometimes I'm short and I wire the balance when I get back, and sometimes I'm a bit over and I carry that forward as a deposit to another hunt.

Tips are the problem. I can only carry $10,000 in cash and that's not usually going to cover all tips and expenses. I've thought about opening a foreign account, but that creates other tax issues. The Feds want to know why you opened the account.

If anyone considers opening a foreign bank account, become very familiar with FATCA (Foreign Tax Collection Act) before you do anything. Running afoul of FATCA can get you prosecuted by the IRS. I have a client who is a tax attorney that can tell some absolute horror stories about people who’ve been prosecuted under FATCA, including an 83 year old woman who nearly did time in Federal prison.

If anyone is going to open a foreign account it should be your PH opening one here in the USA.

I use an AMEX for all my travel expenses and cash for tips. I usually pay my trophy fees up front unless it's a full bag in Tanzania and then I'll wire the money for that when I get home.

I pay what ever deposit asked for. I wire my daily rate balance pre-safari. I wire my trophy fees when I get home…promptly when asked.

When I have to do it differently…I will likely quit going. The above makes sense to me.

The tip thing has gotten way out of hand.

I just had a terrible experience with BofA wiring money to Botswana. It took me 2 weeks to get it done, and they made me drive 340 miles round trip to show "two forms of ID". Their fraud dept made me sign my rights away. I spent several hours with them on the phone on 4 separate occasions. They told me the receiving account was a "known scam" (it was not). What a clusterf&ck.

If WISE lists the currency I need as an option, I always go with them. Best rates and no need to go into a branch and possibly pay another fee. It's all done within minutes from home or the app.

quote:

Originally posted by Russ Gould:
I just had a terrible experience with BofA wiring money to Botswana. It took me 2 weeks to get it done, and they made me drive 340 miles round trip to show "two forms of ID". Their fraud dept made me sign my rights away. I spent several hours with them on the phone on 4 separate occasions. They told me the receiving account was a "known scam" (it was not). What a clusterf&ck.

Russ, that’s what happens when you use B of A or some of the other big banks. Go get a local bank, get to know your banker and find out how much better service you’ll enjoy.

Has any Americans used Wise while in Africa to transfer money to a bank in Africa?

quote:

The tip thing has gotten way out of hand.

Totally agree.

I wire money from my bank(Wells Fargo) for the princely some of $35 to Africa. Do it online. I don’t understand people complaining about costs of wire transfers when they are paying for 5 figure safaris.

quote:

Originally posted by DLS:

quote:

Originally posted by Russ Gould:
I just had a terrible experience with BofA wiring money to Botswana. It took me 2 weeks to get it done, and they made me drive 340 miles round trip to show "two forms of ID". Their fraud dept made me sign my rights away. I spent several hours with them on the phone on 4 separate occasions. They told me the receiving account was a "known scam" (it was not). What a clusterf&ck.

Russ, that’s what happens when you use B of A or some of the other big banks. Go get a local bank, get to know your banker and find out how much better service you’ll enjoy.

^^^True Story

I simply used the WiFi in camp and transferred the funds at the end in the hunt and was able to hand the outfitter a confirmation of the wire to his account.

quote:

Originally posted by jdollar:
I wire money from my bank(Wells Fargo) for the princely some of $35 to Africa. Do it online. I don’t understand people complaining about costs of wire transfers when they are paying for 5 figure safaris.

unless something has changed recently with Wells Fargo, you can't do a wire online unless you've been given that access and an RSA key. If you have that then sure, easy and the fee is minimal. This also assumes you are sending USD to an account that can receive USD. If converting USD to something else then the wire fee is nothing compared to the horrible rate they are giving you. Thats when it's a no brainer to use WISE.

I have no idea what an RSA is. All I know is 7 weeks ago I transferred over $8000 to an account in South Africa that could receive dollars.Cost was $35. I do seem to recall that WF texted me a number to fill in a blank space on the form.

Russ, that’s what happens when you use B of A or some of the other big banks. Go get a local bank, get to know your banker and find out how much better service you will enjoy.[/QUOTE]

I agree, my local banker and I get along great. I just bring him the paper work with the account and routing numbers we have used before,and he says "OK, I'll take care of it".

quote:

Originally posted by jdollar:
I have no idea what an RSA is. All I know is 7 weeks ago I transferred over $8000 to an account in South Africa that could receive dollars.Cost was $35. I do seem to recall that WF texted me a number to fill in a blank space on the form.

looks like the two-factor text is a substitute for the RSA device. Years ago, they had to give you this physical device that had an ever-changing set of numbers to verify the transaction. Same idea as google authenticator. Good to know that they are making it easier. Always thought it was ridiculous to have to go into a branch and sit there while the banker takes 30 minutes to type in all the bank info and then wait for approval from a manager.

I have to disagree with the advice to “avoid big banks “. I moved to suburban Lake Bluff IL a year ago, and the first thing I did was establish a personal relationship with my local Chase Bank Personal Banker. I set up a personal checking account, an LLC checking account and a savings account. I mentioned that I needed to Wire Transfer funds to Namibia and because I had multiple accounts plus a Chase mortgage, there are no charges for my International Wire Transfers. My PH receives the funds in his Namibian bank account in two days or less.

I have used Wise for my last couple trips. Last month I paid my balance on the last day with Wise. A few seconds later he had a text confirming that the money was on it's way.

Thanks CharlesL that is the answer I was looking for; Have a great week

As several above have also stated, I have not had good luck with transfers via large banks. Even as a "private banking" client with a larger national bank (Huntington) I was not able to complete a wire transfer for a safari in Congo-Brazzaville a few years back. The manager at the local branch told me that I was "likely being scammed" and was being foolish. She also told me that I would be breaking federal laws if I transferred funds to Congo-Brazzaville because she did not understand that it was a separate nation from Democratic Republic of Congo. In my extreme frustration, I presented her with a map of Africa to point out her ignorance but was still turned away.

Granted, the above example is a little uncommon given the destination. But we ultimately were able to get the money transferred via a local bank who wanted and respected our business with no trouble at all.

As Mr. Young stated above, having an agent in the US or outfitter with US bank account is immensely helpful and reduces a huge amount of stress in the process.

I have never had a problem with a check or wire transfer to anywhere in the world.

I am sure that is because I am a Titanium Black Gold Platinum Plus Magnum Honors Perpetual Member at my bank.

Or whatever they call it.

Knock on wood.