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  • problem

    David Fidler replied on August 29, 2009 12:30 to the problem "There is a problem with account transfers in different currencies." in Buxfer:

    David Fidler
    Agreed with all of this; I'm evaluating apps like this atm and this is a deal breaker for me (as I'm constantly transferring money across one ocean or another) which REALLY makes me sad because Buxfer, so far, is my favorite system of the lot (wes, yodl, etc)

    If I might make a suggestion, this is what I think the transfer screen should look like (see attached image).



    Note that I've added some fields, including wire fees and wire fee tags. I've done this because it's nearly impossible for you to transfer money across an ocean without paying wire fees (I want to track these too and I don't want them reflected in the currency rate conversion).

    So in my example (see image) I initiated the transfer on Aug 29, 2009 for and $3020 is coming out of my account; but I paid $20 in wire fees so I'm actually only transferring $3000 to the UK.

    The wire arrived on Sept 3, 2009 (because when you wire money, it's never taken from the source account and deposited in the destination account on the same day) and was for £1643.83 (GBP) [the form should check to ensure that 'to date' >= 'from date'].

    I'd also like the form to allow me to enter in either the 'to amount' or the currency amount (which would take the 'from amount' - 'fees amount' * 'currency rate') OR the final 'to amount' (which would calculate the currency rate as 'from amount' - 'fees amount' / 'to amount').

    Until Buxfer properly handles international transfers, I simply can't use it, which makes me sad because it appears to be the best of breed right now.

    Cheers,
    Dave.