Most efficient way to move USD to Ireland

ctlsleh

I sold some company RSUs and have to move the USD from US e-trade account to my bank.
E-trade want to charge ~2% to do a Euro wire transfer which is quite steep.
Anyone know is there a more efficient way to do a transfer?
Last time i got them to send me a cheque, but it took about 6 weeks for it to get it cleared........
anyone experienced the same and found a better way?

cooperguy

Transferwise borderless account? They will give you US bank account number to transfer the number into, you can then transfer to a euro account and then out to your own bank account.

F1ngers

I have an e-trade account for US shares too.
I use transferwise for SSP and then convert it to a € account.

Transfer wise charge a fee too.

AmberGold

ctlsleh wrote: »

I sold some company RSUs and have to move the USD from US e-trade account to my bank.
E-trade want to charge ~2% to do a Euro wire transfer which is quite steep.
Anyone know is there a more efficient way to do a transfer?
Last time i got them to send me a cheque, but it took about 6 weeks for it to get it cleared........
anyone experienced the same and found a better way?

Transfer out in $ to Currencyfair and then do the exchange to € with them at a favourable rate.

Did one yesterday and cash was with Currencyfair today and will be in my AIB account tomorrow. I saved myself 3k today against AIB rates.

towger

ctlsleh wrote: »

I sold some company RSUs and have to move the USD from US e-trade account to my bank.
E-trade want to charge ~2% to do a Euro wire transfer which is quite steep.
Anyone know is there a more efficient way to do a transfer?
Last time i got them to send me a cheque, but it took about 6 weeks for it to get it cleared........
anyone experienced the same and found a better way?

I’ve used Revolut . I also have an eTrade account and was able to wire to my Revolut in USD and then convert to Euro when it suits me and rate is good.

ctlsleh

towger wrote: »

I’ve used Revolut . I also have an eTrade account and was able to wire to my Revolut in USD and then convert to Euro when it suits me and rate is good.

Is there a limit in terms of how much you can transfer into a Revolut Account though? Thought I read that somewhere

Limestone1

There isn't a limit on how much you can transfer but there is a limit on how much you can do at real time forex rates. Above that they will hit you with an extra charge or % .

towger

Limestone1 wrote: »

There isn't a limit on how much you can transfer but there is a limit on how much you can do at real time forex rates. Above that they will hit you with an extra charge or % .

The limit above is per month, so you can exchange it over time to avoid the fees. Also premium and metal cards have a greater ( or no ) limit, but those cards cost extra .... depending on the value you are transferring that can be a cheaper option.

SB_Irl

Can you give some guidance on this. I have had two wire transfers sent back to E*Trade. I am trying to send to my revolut account. Used my BIC and IBAN for revolut. Was sent back twice. I then contacted revolut and got an alternative BIC which I added in a comments field. The wire hasn’t come back to E*trade yet (sent it three days ago). It also hasn’t hit my revolut account. Any insights appreciated, thanks!!

willycat

I'm in the same position as you. Got some RSUs in a US broker.

Wise (formerly TransferWise) is the best in my opinion. You can do Electronic Funds Transfer with ZERO fees (US only). With your Wise account, they give you a US bank account as well, and it accepts these Electronic Funds Transfers. When you sell your shares, just tell your broker to transfer them via Electronic Funds Transfer to your Wise account. It costs about 2 cents :)

When you have it in your Wise account, simply convert the amount to EURO (they have great rates, and you can also select the rate yourself and wait until it reaches that amount) and send it to your bank account with your IBAN. If you have N26 or Revolut, I recommend you to send it there instead of to an Irish bank as they may charge you fees, but N26 or Revolut won't. This transfer is INSTANT (like 5 secs) and it comes with extremely lower fees. I paid like 10 dollars for 5k EURO.

Free free to PM me if you'd like a referral for Wise (being referred comes with up to 500 euro/pounds fee-free transfers).

Duba_Tub_Tub

https://www.boards.ie/discussion/comment/121232367#Comment_121232367

Does anyone know of a Wise alternative? They seem to not be giving out American account details to new customers, leaving late to the party peeps like myself dang out of luck 😕

Screenshot 2023-10-17 at 01.29.36.png

willycat

https://www.boards.ie/discussion/comment/121248237#Comment_121248237

This is temporary, they have just moved to another bank provider and switched many USD user accounts to new ones (like mine). They are still giving you an USD account if you register, it's just a temporary hold.

ULEZ23

Currencyfair gets my vote. Been using them a long time, can get E*trade to process a usd wire and I have it in my euro account in PTSB less than 48hrs later (after a transfer to currencyfairs nyc usd account, conversion to euro by currencyfair and onward transfer to my PTSB euro account). Very smooth process with no human interaction

Donald Trump

Spot trade on IBKR. Bid-Ask spread is tiny at 20 pips for EURUSD. $2 commission per trade (assuming less than 100k) and you can make one withdrawal per month for free.

You can't just use them for FX though.

https://www.interactivebrokers.com/en/trading/products-spot-currencies.php