Money Moral Dilemma: Should I cover the fees when I send gift money to my US-based grandchild?

gothvixen

I would. It isn't the child's fault. My nephew lives in Italy, and until the disaster that was Brexit I could send him lots of gifts, cards, magazines etc. without any issues. My brother would send me pictures and videos, especially when I sent craft projects they carried out together. Now, the duty on a gift can exceed its value. I order cards on Moonpig, as that means any charges are covered by me, and gifts on Italian Amazon, so they're from Italian retailers and have no extra charge. I couldn't afford to cover the duty + gift price, so this means he gets the best possible deal. Same for my brother - I was even able to send him a bottle of premium Liverpool gin for less than it costs here. You adapt to ensure that those you love are treated well. Small things matter to children, and this grandchild misses out on your physical presence

XRAT

You have my sympathy, you probably don't see that child as much as the others either.

If you sent them all a birthday card and one was a "large letter" stamp, would you send a smaller cheque to cover the cost of the stamp? I would get a "Wise" account and absorb the small transfer cost myself.

MikemseForum

Yes, but if you want all the gifts to have the same value (purchasing power) for each recipient you need to take acount of cost of living in the different countries.

PipneyJane

https://forums.moneysavingexpert.com/discussion/comment/82012623#Comment_82012623

I second this. PayPal is the cheapest way to transfer money from one country to another, and one currency to another. Their exchange rates are usually market rate, too. (NB: before you complete on the transfer, they’ll show you the rate they’ll use, so you can compare it.)

primrose_penguin

I don't know if there are any other options whereby you could give without having to pay these fees, looking at others answers on here there may be, so it is worth investigating.

However if you want to keep on giving in the way you do, and want to treat your grandchildren equally, as long as you can afford to I would pay the extra amount as this is not going to your Grandchild, they will then receive the same gift as your other 3.

Bumblies

Instead of doing a bank transfer, use a dedicated money transfer service like wise.com . You get an excellent exchange rate and they charge no or very low fees. I've been using Wise (formerly Transferwise) to make foreign payments for a number of years and have yet to be charged a fee. They show you up front how much it costs to send the amount of €s or $s etc you want to send before you commit. They then take the appropriate amount of £s from your account, convert it and send the €s , $s etc you entered direct into the recipient's account, usually overnight. This isn't an advert, other similar services are available, and apart from using the service I have no connection with Wise..

RickyAH

It's what can be bought for the money that counts, not the amount, that is being fair.

Things generally cost more here than in USA, so ignore the fees and give equally, I'm sure you can get more 'stuff' for the equivalent money

there than here.

I have no interest in America or ever wish to go there, so my opinion is mostly irrelevant, but thanks for reading it.

hibbyg1875

I would agree with earlier comment, each of you set up a Wise Account and you can send money in currency with really good exchange rates and minimal fees.

Moby_Dick

Yes, I think you should. You are being perfectly fair to all the grandchildren. Love doesn't depend on where someone lives

JayD

If you can afford to do that, and are prepared to work out the difference every time, then yes, of course!