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Old 30.10.2012, 02:43
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Making US Credit Card Payments with Post Finance?

Hey all, I couldn't find the answer to this anywhere. Basically my issue is I need to pay American Express, but all I have is a Post Finance Account. My American bank account does not participate in SWIFT, IBAN, or otherwise, as it is a Credit Union. Anyone know how I could go about doing this? Any information would be helpful.
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Old 30.10.2012, 09:03
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Re: Making US Credit Card Payments with Post Finance?

This was taken off the PF help. All banks, including credit unions, have this. Usually it will be posted on their website. If not, ask them.

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Number of financial institution

Bank code

For certain destinations and currencies, it is not the BIC (SWIFT) that is required to identify the beneficiary bank but rather a specific financial institution number. This number corresponds to the national bank code.





Content

Below is an overview of the specific bank codes:



DestinationCurrencyBank CodeStructureAustraliaAUDBank State Branch6 digits
India INR Indian Financial System Code (IFSC) 11 digits alpha numeric CanadaCADBank number and Transit number
9 digits
United States of AmericaUSDFedwire, ABA-Nr. or CHIPS6 or 9 digits

The canadian routing (Bank number and Transit number) contains a permanent 0 followed by the 3 digits bank code and the 5 digits branch code for a total of 9.

For example, the Bank code for National Bank of Canada is 006 however you need to add the 0 at the beginning to get 0006, followed by the 5 digits branch code.



1. position (fix)02. - 4. position (Bank number)0065. - 9. position (Transit number)12345-> Routing number (fictitious)000612345
JC
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Old 30.10.2012, 09:04
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Re: Making US Credit Card Payments with Post Finance?

Hi Wisescarab,

I used to have a bank account with Wells Fargo in San Francisco and also had an US credit card. I had no problems wiring funds to the account when my credit card bill was due, but that said, I don't remember if I used IBAN or SWIFT but then again it was a "proper" bank.

Now, what do you mean that your bank account doesn't participate in the IBAN/SWIFT? Does this mean that it is impossible to transfer money to your account at all? If that's the case, I'd probably want to change bank (or credit Union, building society or whatever). You could also contact your Credit Union and ask them how to transfer funds from your current account which is not in the US to the account in question.
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Old 30.10.2012, 09:22
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Re: Making US Credit Card Payments with Post Finance?

Can't AMEX just pull the payment from your PF account directly? Rather than look at it from the PF angle, I would look at it from the AMEX angle. I'm not positive but I think this could work.
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Old 30.10.2012, 09:43
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Re: Making US Credit Card Payments with Post Finance?

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Can't AMEX just pull the payment from your PF account directly? Rather than look at it from the PF angle, I would look at it from the AMEX angle. I'm not positive but I think this could work.
According to PF, you can arrange for an automated payment or direct debit (called LSV here). Contact PF on exactly how to set this up. In your e-Finance there is a menu item for contact.

On the other hand, if you are like me, then you want details on the payments and wish to pay them manually. Then, as I stated above, get the financial institution and transit/routing numbers from your credit union and make the payment yourself.
JC
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Old 30.10.2012, 09:51
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Re: Making US Credit Card Payments with Post Finance?

Transfer you AMEX account to Switzerland, that's what I did (many years ago).

Tom
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Old 30.10.2012, 10:34
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Re: Making US Credit Card Payments with Post Finance?

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This was taken off the PF help. All banks, including credit unions, have this. Usually it will be posted on their website. If not, ask them.

JC
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Hi Wisescarab,

I used to have a bank account with Wells Fargo in San Francisco and also had an US credit card. I had no problems wiring funds to the account when my credit card bill was due, but that said, I don't remember if I used IBAN or SWIFT but then again it was a "proper" bank.

Now, what do you mean that your bank account doesn't participate in the IBAN/SWIFT? Does this mean that it is impossible to transfer money to your account at all? If that's the case, I'd probably want to change bank (or credit Union, building society or whatever). You could also contact your Credit Union and ask them how to transfer funds from your current account which is not in the US to the account in question.
Aye, regarding thus above, my bank doesn't allow for transfers overseas. When I called them they stated they don't participate in IBAN, or Swift, and any attempted overseas transfers would have the account frozen.
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Old 30.10.2012, 10:38
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Re: Making US Credit Card Payments with Post Finance?

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Can't AMEX just pull the payment from your PF account directly? Rather than look at it from the PF angle, I would look at it from the AMEX angle. I'm not positive but I think this could work.
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According to PF, you can arrange for an automated payment or direct debit (called LSV here). Contact PF on exactly how to set this up. In your e-Finance there is a menu item for contact.

On the other hand, if you are like me, then you want details on the payments and wish to pay them manually. Then, as I stated above, get the financial institution and transit/routing numbers from your credit union and make the payment yourself.
JC
That is what I was curious about. The person I called at Post Finance wasn't sure that it could be done, and couldn't give me info on what I would need from American Express.

Thanks for the help/bouncing of ideas, its not an immediate need, but I just like having my ducks in a row.
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Old 30.10.2012, 10:39
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Re: Making US Credit Card Payments with Post Finance?

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Transfer you AMEX account to Switzerland, that's what I did (many years ago).

Tom
I thought about that, but according to them they no longer have a partner serving Switzerland. Germany yes, and the rest of the EU, but not Switzerland. Of course that could have just been the agent.
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Old 30.10.2012, 10:41
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One of the reasons i closed my US credit card account was that i could not pay from here. The credit card company wouldnot give me the necessary information to set up a payment. I gather it's not possible to do a wire transfer in from a foreign account. I can wire funds to myself or other individuals, but not the credit card company.

Credit Suisse used to have an Amex product via Swisscard.
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Old 30.10.2012, 10:41
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Re: Making US Credit Card Payments with Post Finance?

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Aye, regarding thus above, my bank doesn't allow for transfers overseas. When I called them they stated they don't participate in IBAN, or Swift, and any attempted overseas transfers would have the account frozen.
In that case, you need to change banks But really, it sounds like you would need to have PostFinance cut you a check in USD to mail to your credit union? https://www.postfinance.ch/en/priv/p...sh/detail.html There's a fee for that, but there's a fee for wire transfers, too.
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Old 30.10.2012, 10:58
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Re: Making US Credit Card Payments with Post Finance?

After all the planning I did coming over, it annoys me that I missed this. I just assumed (hah, my bad for assuming) that I could just transfer money to my American account.

The USD check actually might be exactly what I need. I didn't think they could do that!
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Old 30.10.2012, 12:01
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Re: Making US Credit Card Payments with Post Finance?

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Aye, regarding thus above, my bank doesn't allow for transfers overseas. When I called them they stated they don't participate in IBAN, or Swift, and any attempted overseas transfers would have the account frozen.
Aye, that sounds a bit odd.
Here is what I use: xe.com.. basically, I wire them money from my Post account (no wire fee because they give a swiss acct to send it to).. then they deposit it into my Chase account in the US via EFT, so no fee there either. Usually get the money in 2 days. I just pay my US bills out of my chase account once the money is received. Pretty sure that it won't show up as an 'overseas transfer' coming from XE, but might want to double check on that.
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Old 30.10.2012, 14:06
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Re: Making US Credit Card Payments with Post Finance?

Thanks! Something like that may actually be perfect. Worst case scenario I was going to have to bounce it around between paypal accounts...Gah.


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Aye, that sounds a bit odd.
Here is what I use: xe.com.. basically, I wire them money from my Post account (no wire fee because they give a swiss acct to send it to).. then they deposit it into my Chase account in the US via EFT, so no fee there either. Usually get the money in 2 days. I just pay my US bills out of my chase account once the money is received. Pretty sure that it won't show up as an 'overseas transfer' coming from XE, but might want to double check on that.
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Old 30.10.2012, 14:51
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Re: Making US Credit Card Payments with Post Finance?

Quote:
Credit Suisse used to have an Amex product via Swisscard.
According to the AMEX statement I received the other day, this is still the case: "American Express Cards, issued in Switzerland by Credit Suisse AG, processing services provided by Swisscard AECS AG, Postfach 227, 8810 Horgen 1"

Tom

Last edited by st2lemans; 30.10.2012 at 16:15.
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Old 30.10.2012, 16:07
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Re: Making US Credit Card Payments with Post Finance?

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Hey all, I couldn't find the answer to this anywhere. Basically my issue is I need to pay American Express, but all I have is a Post Finance Account. My American bank account does not participate in SWIFT, IBAN, or otherwise, as it is a Credit Union. Anyone know how I could go about doing this? Any information would be helpful.
You can make a transfer from post with the routing number and your account number of the checking account in the US. You will also need the address of the bank and your address that is registered with the credit union.

I don't have any experience with a credit union but this is what I do with USAA.
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Old 30.10.2012, 16:11
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Re: Making US Credit Card Payments with Post Finance?

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Transfer you AMEX account to Switzerland, that's what I did (many years ago).

Tom
According to amex this is not possible. On the grounds that the cards are issued by different banks. Perhaps it was possible to do this in the past but when I checked they explicitly told me that you cannot do this. You would need to close one and then open a new account.
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Old 30.10.2012, 16:16
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Re: Making US Credit Card Payments with Post Finance?

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According to amex this is not possible. On the grounds that the cards are issued by different banks. Perhaps it was possible to do this in the past but when I checked they explicitly told me that you cannot do this. You would need to close one and then open a new account.
So why not do that?

Tom
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Old 30.10.2012, 17:23
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Re: Making US Credit Card Payments with Post Finance?

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So why not do that?

Tom
Yes, that would probably be best for many people. For me it was not really the best option as I still keep my banking and investment relationships active in the US.

The fee for the CH version of my card is approximately double than in the US fee, so I just concluded to keep it active there.
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Old 30.10.2012, 17:56
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Re: Making US Credit Card Payments with Post Finance?

I realize this is a more complex way to do it but I'll throw it out there: Get a travelcash card here in CH and put some USD on it. Mail the card to a friend or relative in the U.S. and have them get the cash off the card and deposit into your U.S. account. Have done that before in a pinch. Not super convenient but it does work. HTH
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