money Helping relatives with money

[iwaterski 0]

Hi people, Now that I'm married, I'm having to help my mother-in-law with money from time to time. I set up an account with my bank here in the US and got her a US credit card and was told as long as her address is from Brazil she should be able to use the card in Brazil no problem. Ya right… Fraud protect went off the first time she used it and caused problems. Now before she uses her US card I have to call the bank and have them put it in vacation mode. I also had to work out Chip and pin modes. 

 

So I'm wondering if there any one has come up with more creative solution for getting money to relatives?

 

Keep in mind I know about Wester Union and some of the online transfer company's and so called global banks. They are expensive and can be a lot of trouble in time it takes. I want creative way's that short circuit the system.   

[Transborderwife 4,666]

This may be a naive suggestion, but can you just pay for/purchase things that may be needed and have three sent there?

[Unlockable 7,306]

As someone who has traveled frequently I can tell you that it wasn't a good idea to send her a US bank card regardless if she is on your account. The fraud alert will continue to trigger.

 

Here  is the kicker... even though you own the account there is no way to deactivate the fraud protection. It is their policy. 

 

Money transfers may be you best bet. Yes it is expensive. Even an international bank 2 bank wire transfer cost a lot.

[Boiler 43,437]

PayPal?

[Ontarkie 13,917]

I was going to suggest paypal too. 

[iwaterski 0]

I've looked into paypal and the only thing I was worried about was the technical aspects of it. I'm dealing with a mother-in-law that is in her upper 60's and not very technology friendly. I figured a credit card in her name using her own account at my bank, (that I'm on) would be the simplest solution. I could transfer money to her account free and she could use the card. All we get hit with was conversion fees. When I travel there using my own card the fees weren't that bad. It's mostly extra money for her to help pay condo fees. She has a job but just doesn't quite pay enough to pay all the bills. When my wife was living there they shared the bills. Right now as it stands, I have to call the bank before she goes to use the card and put in vacation mode for a length of time. 

[Ontarkie 13,917]

Paypal offers a debit card also. You transfer money to it and she uses the card like any other card. 

 

If paypal is in Brazil I'd use that. 

Edited January 19, 2017 by Ontarkie

[SAT 9,609]

Hillbilly should send a credit card to your folks in Canada...

[Penguin_ie 5,986]

Does she have a Brazilian bank account, or can she open one?  For a bit when a relative in Italy needed money, I just transfered money every couple of months from my bank account to hers in Italy. There was no charge from my bank, and only a nominal charge from hers for receiving foreign funds, and we could time it for when conversion rates were favourable.

[Ontarkie 13,917]

6 hours ago, SAT said:

Hillbilly should send a credit card to your folks in Canada...

Oh heck no! 

[MrChamploo 45]

Paypal.

 

I would suggest Moneygram outside of giving her a PayPal card.

Money-gram would only charge you about 10 bucks each send. I wouldn't figure you send more then once a month right?

[iwaterski 0]

Money-gram and Western Union are the most expensive way to send. Large fees and bad exchange rates. Over time that can add up. That's why I'm not considering them. My bank doesn't change me anything to transfer money into her account. After that it's only exchange rate fees on her account witch is not to bad. I don't keep a high balance in the account and  it has no over draft protection. So if something happens on the account it's no big deal they are not going to get much and the account can't be overdrawn. You can't spend what not in there.  She is only suppose to go to the ATM and pull the money out, that I just put in. It's just the hassle of vacation notice every month. She does have a Bank account in Brazil but I didn't even try doing a transfer to her account there, cause I was afraid of getting hit with transfer fees with every transaction. Exchange rate is bad enough. I have just paid for a few thing straight to what ever bill needs it. But even then I have to put my card on vacation notice. I'm pretty much just trying to crowd source options. Someone out there has bound to have figured out something better. Money-gram and Western Union are the most expensive way to send. Large fees and bad exchange rates. Over time that can add up. That's why I'm not considering them. My bank doesn't change me anything to transfer money into her account. After that it's only exchange rate fees on her account witch is not to bad. I don't keep a high balance in the account and  it has no over draft protection. So if something happens on the account it's no big deal they are not going to get much and the account can't be overdrawn. You can't spend what not in there.  She is only suppose to go to the ATM and pull the money out, that I just put in. It's just the hassle of vacation notice every month. She does have a Bank account in Brazil but I didn't even try doing a transfer to her account there, cause I was afraid of getting hit with transfer fees with every transaction. Exchange rate is bad enough. I have just paid for a few thing straight to what ever bill needs it. But even then I have to put my card on vacation notice. I'm pretty much just trying to crowd source options. Someone out there has bound to have figured out something better. 

[MrChamploo 45]

Nope you probably have it the cheapest way.
Paypal would be the only other option.