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Bank fees for Social Security benefits to a foreign bank

Last activity 10 August 2023 by SimCityAT

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Does anybody get their Social Security benefits deposited in a bank account in the European Union?

The Federal Benefits Unit of the Embassy wrote that the Federal Reserve Bank processes these payments and direct deposits the benefits in Euros (for the Netherlands).

What fees are deducted for the transfer?

No conversion fees I was told.

But American bank fees?

European bank fees?

Besides opening a US bank account, how do I dodge the fees?

SimCityAT

You should ask in the country forum that matters because each bank and country have different fees.

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