Standard chartered account for online withdrawals?

Guys, I'm thinking about opening a SCB account for international withdrawals like Odesk, Elance and Moneybookers etc. I have an MCB and Bank Alfalah account and I've used Alfalah for Skrill withdrawals. Unfortunately its VERY slow and i sometimes thought that I had LOST my money... Well... I've heard that SCB is best for international transactions and withdrawals...

I wanna open a current account (or equivalent to that). What i mean here is that I can't pay ANY charges for things i don’t know of. Like my money stays safe in my Alfalah account and there is no interest received on it. I want the same for SCB. Is it possible?

Also tell me if i should open Rupee Current Account or Standard Chartered Saadiq Account?

Finally, would I be able to afford it? Someone told me that they opened an account with 5000 only.

Kindly tell me about the charges charged by SCB on current account... Any kind of information would be GREAT!

Thanks,

Hamid

anyone? :(:o

SCB is very expensive bank they will charge you for your cheque book and ATM card and all other things ................

of course they will buddy. every bank does.. there's nothing wrong with charging for ATM card (debit card) and cheque book.. and btw you're the first one to tell me that they're expensive... allll the other people have given positive response.. :)

are you just saying this on the basis of rumors or personal experience?

I have an account with them; yes they are expensive in terms of their service charges but their service is much better comparing with other banks like Bank Alfalah, MCB and Soneri.

For Wire Transfer, specially for Odesk MCB is very good, they give you good rates..

Standard Chartered is not expensive at all. I have SCB account BBA with me which I use for international transactions and withdrawals. You don't have to pay any charges on it or hidden charges are there. When I opened an account I didn't pay any charges except for around 5000 deposit in my bank account which was used for deduction of fee charges for cheque book and ATM while remaining amount was deposited in my bank account when activated. You can easily get the BBA account details from SCB website.

About the time frame from when you withdraw till it shows in your bank account depends. for instance, when I make a Moneybookers withdrawal it only takes around 1 and half days but elance takes a long time and sometimes it takes around 10 days. Its not SCB that is slow but elance.

For me SCB is the best and I would recommend that you open an account for online withdrawals. All explained above is my personal experience and I have been using SCB for around two years for this.

Hope I have helped. Let me know if you have any more questions.

I am also using SCB for almost 2 years and I always found they charge double tax at least for me. I use SCB because of their Online and Internet banking...

Last week I withdrew my funds from Odesk to MCB and it took only 2 days with the rate of Rs. 103.xx/USD

I have also used Soneri, MCB and Bank Alfalah but SCB is much better in term of service and customer support.

[quote="tracersa, post:6, topic:19018"]

Standard Chartered is not expensive at all. I have SCB account BBA with me which I use for international transactions and withdrawals. You don't have to pay any charges on it or hidden charges are there. When I opened an account I didn't pay any charges except for around 5000 deposit in my bank account which was used for deduction of fee charges for cheque book and ATM while remaining amount was deposited in my bank account when activated. You can easily get the BBA account details from SCB website.

About the time frame from when you withdraw till it shows in your bank account depends. for instance, when I make a Moneybookers withdrawal it only takes around 1 and half days but elance takes a long time and sometimes it takes around 10 days. Its not SCB that is slow but elance.

For me SCB is the best and I would recommend that you open an account for online withdrawals. All explained above is my personal experience and I have been using SCB for around two years for this.

Hope I have helped. Let me know if you have any more questions.

[/quote]

Thank u so much ImtheKiller, can u tell me what kind of account you have in SCB? and what kind of service charges and tax you had to pay? Thanks

I have a current account there. From taxes I mean visa card/debt card charges, service charges etc

[quote="Hamid_zizou, post:8, topic:19018"]

Thank u so much ImtheKiller, can u tell me what kind of account you have in SCB? and what kind of service charges and tax you had to pay? Thanks

[/quote]

Hmmm thanks man.

[quote=“Hamid_zizou, post:4, topic:19018”]

of course they will buddy. every bank does.

[/quote]

You've said in your opening post that you don't want to pay any charges and when he points out there are some charges you patronize him. Banks are in the business of charging people so there will be charges you don't know about. You have to ask and educate yourself before hand.

Hamid: "What i mean here is that I can't pay ANY charges for things i don’t know of. "

[quote=“ImtheKiller, post:7, topic:19018”]

I am also using SCB for almost 2 years and I always found they charge double tax at least for me. I use SCB because of their Online and Internet banking...

Last week I withdrew my funds from Odesk to MCB and it took only 2 days with the rate of Rs. 103.xx/USD

[/quote]

Right now the dollar is ~107 in the interbank market. Most likely some of the money got taken by the correspondent bank and the rest got converted at that 107 rate.

Yeah...

[quote="rokra, post:12, topic:19018"]

Right now the dollar is ~107 in the interbank market. Most likely some of the money got taken by the correspondent bank and the rest got converted at that 107 rate.

[/quote]

Oh dude.. you are being judgemental here.. I just said that I dont wanna pay too much charges like really extravagent coz I'm not a businessman... and i do educate myself before hand. I KNOW that banks charge services charges, debit/credit card charges and others and I'm fine with them.. and I've no issue with the exchange rate either.. its just that my friend has an account in SCB and they charge him like 7,8k every month (for nothing really, he's just a freelancer and owns a BB account) until he stopped using it..

I have a current account with Askari Bank for day to day expenses. The bank has never charged me any "maintenance" charges even when the balance has dipped very low. They do charge fees for interbank transfers and other services and their VISA debit card can not be used online internationally. I did use it in KSA to withdraw Saudi Riyals from ATMs when I took my family for Umrah during last June.

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Thanks taru :)