18d • General discussion
ARE WIRE TRANSFERS TOO EXPENSIVE WHEN Funding IBKR FROM KENYA. WHATS THE ALTERNATIVE
Hello guys , my experience funding my ibkr account through bank wire transfer has left me in thinking of using alternative channels due to high transaction’s costs. Swift transfers are just expensive especially if you are using a local banks.
While the banks just tell you about their internal swift facilitation cost which range between kes 1500 - 2500 , the don’t mention about the international settlement fees which could range from 10 - 30 dollars or even more.
Total charges from my past international swift transfers were almost 30% of the amount being transferred. The math doesn’t make sense .
I have come across the wise app option though I'm skeptical as i have not used it before. Anyone who has used it before from kenya for international transfers? Is it a good options ? What other cheaper options are there?
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ARE WIRE TRANSFERS TOO EXPENSIVE WHEN Funding IBKR FROM KENYA. WHATS THE ALTERNATIVE
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