Sending money from Israel

[Girl_Next_Door]

Not sure if anyone (or someone who know someone) have experience of sending money from Israel to Singapore? Any suggestion on the best (i.e. cheapest) method? Would TT be the cheapest method or would withdrawing the money from the ATM be better? At the same time, will there be any problem when the bank is receiving money from Israel?

[joanne.lee]

u could better find a Israel bank in singapore, open an account and transfer to this account.
if you transfer to singapore local bank e.g DBS, the money will route through other bank(s), which will charge you some money.

[jpatokal]

u could better find a Israel bank in singapore, open an account and transfer to this account.
if you transfer to singapore local bank e.g DBS, the money will route through other bank(s), which will charge you some money.

You'll be charged no matter how you transfer the money. AFAIK the only Israeli bank in Singapore is Bank Hapoalim, which doesn't do consumer banking.

[Girl_Next_Door]

I know that DBS is a correspondent bank of Mizrahi Tefahot (the bank which my friend intends to transfer money from), so it should be a little easier as there will be lesser banks acting as middle-man for the transaction. But, I am not in bank operations, so I am not 100% sure if there will be any problems/issues for such transfer, i.e. payment get delayed, or even returned, etc. Anyone have any relevant experiences?

[durain]

technically speaking, you can transfer money from one bank to another quite easily, local or international. the money transfer "language" used by the banks are standard, like SWIFT or BACS. they are all done elctronically. so all you need is the bank's details and account number.