Banks waive transfer fees

Several banks have agreed to waive international transfer fees on reparation payments to Holocaust survivors, according to Illinois Treasurer Alexi Giannoulias. Giannoulias was urged last month by the American Jewish Committee-Chicago to ask that banks doing business in Illinois waive the fees, which range from $10 to $40 and can be up to 10 percent of the amount that is transferred. There are more than 5,000 Holocaust survivors in Illinois, a significant number of whom receive an average $350 in monthly reparation payments, said John Thomason of the American Jewish Committee. Many of the recipients are retired and on a fixed income, he said. Giannoulias said Tuesday that so far about 85 out of 700 banks have agreed to waive international transfer fees on reparation payments to Holocaust survivors.