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Paying back loan with electronic money transfers

Question:

If I am in NY and owe someone in Israel 1500 shekel, do I have to pay for any deductions that might be incurred either by the transfer service – such as PayPal which deducts a service charge from both the sender and the receiver, or the recipient’s bank which might deduct a service charge or taxes, to make sure that they receive the full amount?

 

Answer:

It depends where the loan was given. If it was given in NY, and the lender went to E. Yisroel, then you can deduct the expense to send it to him. However if the loan was given in E. Yisroel, and the borrower went to NY afterwards, then he is the one who has to pay for the expenses, and he would have to pay him in full.
Best wishes

 

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