I am trying to get money transferred to me from an overseas account. The bank keeps telling me that I have to pay for transaction fees and for a Tax Clearance Certificate. Is it necessary for me to pay these fees? How can I be sure about this bank and what can I do in order to get my money?
While we are not familiar with a "Tax Clearance Certificate" this may be unique to the country of origin of your funds transfer. We certainly are familiar with the fact that your bank will charge you one or more fees for the receipt of the transfer. If your bank here in the U.S. is requesting the funds, they'll want to be compensated for their time and costs. This is especially so if you are a new or small depositor with the bank.
If you feel the fees are excessive or unwarranted, call another bank and ask what they would charge for a similar service. Then, let your wallet make the choice.
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While we are not familiar with a "Tax Clearance Certificate" this may be unique to the country of origin of your funds transfer. We certainly are familiar with the fact that your bank will charge you one or more fees for the receipt of the transfer. If your bank here in the U.S. is requesting the funds, they'll want to be compensated for their time and costs. This is especially so if you are a new or small depositor with the bank.