Thursday, August 23, 2007

Setting up International Banking

I'm in the midst of my first practical experience in international banking. So far it's going pretty well though I'm going to set up an account with a bank that has offices in the U.S. and Frankfurt.

The only problem so far was that I needed to give my new employer my bank's information, the routing and account numbers were easy but I also had to give them the international routing number. Finding out the international routing number was a bit of a trick. My bank's local branch wasn't familair with international routing numbers and referred me to their customer service number with instructions to just keep pressing 0 until I got to a human. The person I spoke with there referred me to the international wire transfers line where the person I spoke with gave me the number (actually a combination of letters and numbers) apparently from memory.

Bottom line: if you are keeping your U.S. bank account, make certain you get the International Routing Number and the best way to do that is to call your bank's International Wire Transfer department.

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