Does anyone know the "true" international transfer fees in QNB?
I just recently tried the international wire transfer feature in QNB. A QNB staff said that it would cost me only 15 QAR, which is around USD4. I did not expect that there is another fee except the currency rate difference. So then I transferred USD100 just to give it a try. Surprisingly, when the money arrived in my other account outside Qatar, it was only equivalent to around USD70. So in addition to the transfer fee of 15 QAR, which I paid separately, I lost 30% of the value of my money!!! I called the bank but the person said she did not know about it. She told me to call someone else tomorrow. I went to the QNB website, but there is no information about transfer fees.
I do not think losing 30% of the money is due to the difference in currency exchange. Anyone has any idea about the "TRUE" transfer fees in QNB?
Thanks.
Hey Foera,
I received the same answer from a QNB employee for transfers she said it is 15QAR.
Someone answered me on a forum post I put today that it is 35 QAR which is more like it.
Did you progress in your endeavor?
Thanks all for your info. Before I moved to Qatar from the US, I remember transferring money from my Chase bank account to QNB. I did not remember paying any other fees besides the USD40 Chase charged me. That's why I started wondering.
QNB charges for sending the $$ (but $4 sounds very low) and the receiving bank also has charges. Check with your bank in US to find out what they charged for processing the transfer.
But if you sent $1000 it would only have been 3%.
Check when you send as to which end the fees are paid. My UK bank charges a hell of a lot more than CBQ so I pay the charges here!
foera, just remember that banks all over the world charge some fees for "receiving or dispatching transfers".
In my case whenever I send a money transfer to the US the end value of the money is X-30US$
And when I send to europe is around X-20 Euros.
In the case of QNB and when I first faced the situation I managed to find out that there is an intermediary bank in the US with centralizes all funds transfers from here and then dispatches "locally" within the US. This Intermediary bank charges around 20 US$.
There you go some rough numbers as to where did the money go!!
Regards!!