mx5cartalk.com

I'm looking to get some new rubber off them, but I'm having dramas translating the information they've supplied to me for internet banking money transfers.

They've provided me with:
- Name
- Bank Number
- Account Number
- Swift/BIC Code

But my bank is asking me for:
- Name
- Local Clearing Code
- Account Number

Now the name bit is pretty obvious, but I have no idea what the local clearing code bit is, and nor do I know how the bank & account number provided to me by tirerack relates to the account number I need to enter in to my bank.

Has anyone else dealt with them that can give me some tips/tricks? Or indeed any American company that has supplied similar information that needed to be translated for an Australian bank transfer?

Incidentally, I'm planning on getting 4x Dunlop Direzza Z1's in 195/50/15 and the total price including shipping to Perth is $671.18 USD, which still works out a fair bit cheaper than the local $230 a corner I've been quoted thus far.

671 USD = ~ 745 AUD

I was quoted $195 per corner from Gary's motorsport. I wouldn't bother for a $35 saving.


edit: sorry! My quote was for 14".

Why don't you ask tirerack these questions?

AUS banking systems vs US banking systems. Do we really need to explain why you are having issues?

Is the bank number they gave you 9 digits ?? If so that's the 'ABA routing number' which is the US version of a 'local clearing code'. You should always quote the Swift code, ABA routing number, Account number & Account name.

Surely it would be more secure for you to use a Credit Card or even a VISA Debit card to purchase the tyres right?

BadBong, You're right, a credit card is ideally the best thing and easiest thing to use but due to the level of credit card fraud overseas most small to medium sized US companies are not willing (or can't afford) to take the risk of accepting credit card orders from overseas clients anymore. Unfortunately in the case of credit card fraud it's the seller that's gets screwed in the end.

broady wrote:671 USD = ~ 745 AUD

I was quoted $195 per corner from Gary's motorsport. I wouldn't bother for a $35 saving.


edit: sorry! My quote was for 14".

Why don't you ask tirerack these questions?

Keep in mind I'm in Perth too, so even getting a quote from Gary's would require shipping, and of course the rim size difference.

As for asking Tirerack the questions, I have, but the contact I've been dealing with doesn't know what the local clearing code is. However, toymx5 may have answered my question. See below...

toymx5 wrote:Is the bank number they gave you 9 digits ?? If so that's the 'ABA routing number' which is the US version of a 'local clearing code'. You should always quote the Swift code, ABA routing number, Account number & Account name.

The bank number they've supplied is 9 digits, so does that mean that's the local clearing code? I've been given the swift code, but there's nowhere to enter it in my local bank's fund transfer.

toymx5 wrote:BadBong, You're right, a credit card is ideally the best thing and easiest thing to use but due to the level of credit card fraud overseas most small to medium sized US companies are not willing (or can't afford) to take the risk of accepting credit card orders from overseas clients anymore. Unfortunately in the case of credit card fraud it's the seller that's gets screwed in the end.

Spot on. I'd be much happier using my credit card, but the contact says that they don't accept credit cards from international buyers since they can't verify the accounts in the US. Now whether this is the case is irrelevant, because they won't accept it either way, so it leaves me with the only option of a cash transfer. The only other option that comes to mind is paypal, which I'll ask about, as that's pretty straightforward too.

Yes, put the 9 digit number in as the local clearing code. I'd still put the Swift address in the details field to be safe, it can't hurt.
I've worked for both a US bank and a Australian bank doing international transfers, they are a perfectly safe and efficient method of transferring funds overseas.

toymx5 wrote:Yes, put the 9 digit number in as the local clearing code. I'd still put the Swift address in the details field to be safe, it can't hurt.
I've worked for both a US bank and a Australian bank doing international transfers, they are a perfectly safe and efficient method of transferring funds overseas.

Yeah, I don't doubt there's an issue with safety etc. It's just the to-ing and fro-ing with information that doesn't match up, probably through no fault of anyone really.

I've asked my bank exactly what the clearing code is, so I'll wait for their confirmation, but it's good to hear it from another party.

Meanwhile, I've asked about Paypal, which I would actually prefer anyway as it means I can use my credit card after all. Hoepfully this plays out well and I get some new tyres soon

I've bought from them before and paid with wire transfer. The information they gave was only part of what was required from memory. I'll see if I can find my copy of the wire transfer documents tomorrow (late now!).

I put an order through last week. You cannot do an electronic transfer from your internet account.

You need to go into the bank and ask them to do a Telegraphic transfer (Australian for wire transfer). Tirerack will supply you with everything you need for the bank to do this transfer. I simply printed out the details Tirerack sent me and handed it over with the $16 my bank charges (can be up to $30 at some banks I believe) and all went very smoothly.

Hopefully wheels are in the sky right now.

Yes, I've done the same, but to the UK. Couldn't do it through Net Bank.

Take the seller's details into your local branch and they will do the transfer for you. Simple, quick and no risk of sending the money to the wrong place!

As Mark mentioned, be prepared to pay a transaction fee. From memory it was about $25 - $30 with the Commonwealth Bank; I don't think there's any way around it, even if you manage to do it through the internet.

Another way to pay them is by Western Union.
No bank accounts required, just front up to your local post office and buy the transfer, plus their charges and poor exchange rates (which aren't much worse than a bank will give you).
You are then given a secret number, which you can e-mail to Tire Rack, and they can go down to their local post offie and collect the cash instantly!

Other than that, you can go through a company like Custom House who can do it for you easily, and they only charge $10 for the transfer + you get very good exchange rates.

emexv wrote:You cannot do an electronic transfer from your internet account.

Depends on your bank, I've done international transfers via internet banking - works well.

Yeah, I figure if my internet banking has the otion for an international transfer, I'll give it a go. If it turns out it doesn't owrk, then I'll physically go to the bank and try from there.