Sunday, November 7, 2010
Tuition
The 2nd installment of tuition, EUR31,000, is due on Nov. 26. That is a LOT of money. I'm literally cashing out all of my life savings. Like any rationale consumer, I've been calling local banks to find out their exchange rates so that I can decide which bank offers the most competitive rate. To be honest, most of their rates are fairly similar. But one of them, Chase, stands out to me because it offers the most flexibility. You can add a recipient of wire transfer on chase.com. This then allows you to request an online wire transfer from the comfort of your home. HSBC has offered probably the most competitive quote. However, their process is more archaic. If you have not banked with them for more than 3 months, then you must request the wire transfer via fax. And also, HSBC will not provide you with an e-mail confirmation. Instead, you can go to your local branch to get a confirmation in person. Seriously...who does that? HSBC has lost major points in my book.
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You are probably arranging a French bank account as well. A good option for you might be to open a Premium HSBC account (free for INSEAD) and then you will be able to transfer the money free of charge. Two birds with one stone
ReplyDeleteI tried doing that except the ops staff in US told me that it's an agreement with HSBC France. So I have to open my account in France first and then in the US. Or I can open my premier account in France from the US but pay an extra USD200. Did you hear something different?
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