Who charges how much for foreign payments?

As readers of this blog are by now well aware, my most recent obsession area of inquiry has been the sending and receiving of international bank wires.  More or less by accident I have stumbled upon smart ways to receive international bank wires.  As I describe in this blog article, more or less by accident our situation is that for our patent firm, we now receive our incoming foreign bank wires free of charge through Afex.com, and for my personal bank account, I receive my incoming foreign bank wires free of charge because the bank is USAA.

As for the foreign sender of funds, if the foreign sender of money to our patent firm happens to be a customer of Afex.com, they can send money to us and they will likewise not have to pay any fee (other than perhaps a currency conversion fee).

But how about sending bank wires?  Who charges more and who charges less for sending bank wires to foreign countries?  Here is a specific example of what it would cost to send about ten thousand dollars to Switzerland by any of three different providers.  I find the price differences to be striking. Continue reading “Who charges how much for foreign payments?”

Yet another smart way to receive international bank wires

If you are going to have someone send you funds by means of an international bank wire, what instructions should you give to them?  Thirty years ago my firm did what I suppose most firms do.  We went to our bank we asked our bank what to tell the sender.  Our bank very promptly and cheerfully provided detailed “incoming bank wire instructions” including a Swift code and an ABA routing number.  We then dutifully provided this information to all of our foreign associates for use in paying us for the work that we do for them.

It turns out that this is approximately the stupidest thing to do.

Our patent firm has changed banks from time to time over the years.  But what has not changed is that each bank has charged us some amount of money for each incoming bank wire.  Our most recent bank (Wells Fargo) usually charges us at least $16 for each incoming foreign bank wire, or as much as $33 if it feels the wire required “repair” (whatever that means).  I cringe now to realize that during these decades our banks over the years have charged us many, many thousands of dollars in bank fees for our incoming foreign bank wires.

And the same is true for incoming foreign bank wires to my personal bank account.

Imagine how stupid I feel to have discovered only in recent days that there are common-sense ways to receive foreign bank wires that do not incur bank fees, for businesses and for personal accounts.  Continue reading “Yet another smart way to receive international bank wires”

Yet another foreign wire transfer service

click to go to AFEX web site

Recently I blogged about Western Union Edge, a service for foreign wire transfers.  Alert reader Andrew Berks commented that he uses AFEX.  So I decided to open an account with this service provider.  Having used the service now for a short while, I think it’s possible that AFEX is the best choice these days for foreign wire transfers. Continue reading “Yet another foreign wire transfer service”

Western Union Edge

Seemingly almost every industry is disrupted these days by the Internet and other technological changes.  Over-the-top distribution of streaming media allows the consumer to bypass legacy cable or satellite gatekeepers.  Voice over IP services allow telephone customers to bypass legacy landline telephone companies, saving lots of money.

Yet every time we get paid by foreign patent or trademark counsel, we get charged by our own bank to receive the bank wire, even if the sender pays all of the bank fees at their end that they are able to pay at their end.  I recently asked for a detail billing from our bank and found that our bank was also charging us an additional fee for many of our incoming bank wires to “repair” some of the wires because of real or imagined flaws in the bank wire instructions received from the foreign banks.

Frustrations like these had often reminded me that I keep hearing about various ways other than bank wires that people can send money to each other.  Venmo.  Zelle.  Paypal.  Wechat.  But most of these systems are no good for international transfers, and most of these systems are unavailable to businesses.

Are there smart ways to save money paying foreign patent and trademark counsel?  Is it possible to bypass banks, avoiding the bank wire transfer fees that normally get charged to both the senders and the recipients of wire transfers? Continue reading “Western Union Edge”

Mondegreen – a neat word

We are all accustomed to the phenomenon that a person might mishear a song lyric or other publicly recited phrase.  “to the republic for Richard Stands.”  “scuse me while I kiss this guy.”  It turns out there is a name for this.  It is called a Mondegreen.

What got me thinking about this, of course, was my recent blog article that mentioned Bad Moon Rising.  “There’s a bathroom on the right.”

Anyway so now you can save up this really good word “Mondegreen” and put it to use in just the right setting.

Selecting an irrigation controller

Recently I got the idea of replacing an ancient irrigation controller at my house. The existing irrigation controller was a Rainbird ISA408 (photograph at right) which dates from before the Internet happened.  In today’s world of course we all have the idea that anything around the house, no matter what it is, should somehow be connected to the Internet or to our smart phone, or should in any event be very high-tech. Taken to its extreme we would have the Internet of Things.  How might one go about selecting a new irrigation controller?  In this article I talk about the new irrigation controller that most people choose these days, and what I think might be a better choice for some people. Continue reading “Selecting an irrigation controller”

Pinging the first hop

click to enlarge

In a previous blog post, I described that I had set up a smart plug that pings a pre-arranged IP address, and if the ping fails, the smart plug will power-cycle our modem and main router in our office.

The world we live in is enriched because there are smart people around us (not only smart plugs!).  One of those smart people is alert reader Manuel Fortin, who commented:

Very interesting, but I see a problem with the ping feature. What address will you use? If the address is unreachable for any reason that is unrelated to your modem and router, you will just end up with an endless loop of resets. Pinging an address within your network will not reset the system in case you lose internet access. Pinging an address outside of your network would completely disable your network if that address only, or a subset of the internet, cannot be accessed. It happens that servers, even from the most reputable companies, experience problems, or that problems make some part of the internet impossible to access.

Of course he is exactly right.  It is the Goldilocks problem.  Ping a host that is too close, and the ping result tells you nothing of interest.  Ping a host that is too far away, and the ping result might get overwhelmed with noise from Internet connectivity failures that have nothing to do with any good reason for power-cycling of your own modem or router.  It needs to be “just right”.  So how to do it “just right”? Continue reading “Pinging the first hop”

Power cycling your main router and modem

Everybody nowadays uses smart plugs.  A smart plug is a thing that you plug into the wall and then you plug something (maybe a lamp) into it.  The smart plug typically connects to your wifi and from there to the Internet.  Using an app on your smart phone, or using Alexa, you can remotely send a signal to the plug to tell it to turn off the lamp.  Later you can send another signal to the plug to tell it to turn the lamp back on.  Smart plugs are a lot of fun and you can do lots of interesting things with them.

Now let’s talk about the cable or DSL modem that connects your office to the Internet (see figure at right).  There is a main router the WAN port of which connects to that modem, and the LAN ports of which connect (directly or indirectly through ethernet switches) to all of the devices in your office.  Although one hopes that it does not happen very often, the real-life situation is that every now and then one feels the need to power-cycle the main router and modem.

Suppose you were to use one of the smart plugs of the kind that I just described, as a way to control the electrical power (shown by dashed lines in the figure) to the main router and modem.  It turns out this would be a really unwise thing to do.  Do you see why?

Think about it.  Suppose you were to use the app on your smart phone to send a signal to the smart plug, telling it to turn off the main router and modem.

Yeah.

The situation at this point would be that you would never be able to send a signal to the smart plug, telling it to turn on the main router and modem.  The reason being that the main router and modem are off.  Meaning that the smart plug does not have any connection to the Internet.

Meaning that if you had sent the “power off” command from some remote location, then to get things turned on again, you would have to travel in a car or airplane or train to the office location to turn things back on.

Yeah.

So this explains why if you know what to search for, you can find a very specialized kind of smart plug, a smart plug where you can send a single command that tells the smart plug to turn off the controlled devices and then turn them back on.   My favorite smart plug in this category is the EZOutlet2, shown at right.

This smart plug connects to your network with a wired ethernet cable, not wifi.  And you can send it any of three commands — turn the outlet off, turn the outlet on, and reset the outlet (which means turning the outlet off and then back on).  The reset command is the only command that makes any sense if you have the smart plug connected to a main router and modem.  To say this another way, if you were to have this smart plug connected as in the diagram above, you would never never never be using the “turn the outlet off” command (because that is irreversible).  And you would never never never be using the “turn the outlet on” command (because that is impossible).  The only command you would ever actually use is the “reset the outlet” command.

Yet another really nice thing about this smart plug is that if you like, you can configure it so that it pings some predetermined IP address from time to time.  You can configure it so that if the ping fails, the smart plug will power-cycle (reset) its outlet.  In the setup portrayed above, Ihave it configured so that the smart plug will be power-cycling the main router and modem if a ping fails.  Hopefully this reset will restore Internet connectivity to the office.

The smart plug can also be configured to carry out a scheduled reset, say once a week on Sunday morning.  It seems to me that there are pros and cons to setting up scheduled resets of critical equipment like main routers and modems.  I have never actually used this “scheduled reset” feature.

Do you have such a smart plug set up in your office?  By this I mean a smart plug that can respond to a single command by power-cycling its connected equipment?  Maybe a smart plug that can do this in response to a failed ping?  Maybe a smart plug that simply resets the equipment once a week regardless of whether the equipment actually needs to be reset?  Please post a comment below.