Wire Transfer from ETrade (US) to UK, can someone help please?

msangi

Hello, I'm looking too to transfer money from my ETRADE account to the UK.

I was looking into Transferwise (but I'm a bit put off by the hoops to go through because of the FBO requirement in the name).

Revolut seems easier to setup. I have an account to my name with UK Swift and IBAN, but I'm a bit confused by ETRADE requiring also a sort code.
Looking online it would seem that the sort code should be the first six digits of after REVO in the IBAN, but Revolut support says that the sort code for my USD account should be the same as my GBP one.
Is the sort code really needed if I want ETRADE to send me USD or is it needed only if I need them to convert the amount to GBP?

Finally, has anyone used Fineco? If so, how's their service?

coyrls

msangi wrote: »

Hello, I'm looking too to transfer money from my ETRADE account to the UK.

I was looking into Transferwise (but I'm a bit put off by the hoops to go through because of the FBO requirement in the name).

Revolut seems easier to setup. I have an account to my name with UK Swift and IBAN, but I'm a bit confused by ETRADE requiring also a sort code.
Looking online it would seem that the sort code should be the first six digits of after REVO in the IBAN, but Revolut support says that the sort code for my USD account should be the same as my GBP one.
Is the sort code really needed if I want ETRADE to send me USD or is it needed only if I need them to convert the amount to GBP?

Finally, has anyone used Fineco? If so, how's their service?

Does your Etrade account allow ACH tranfers? If so, you can do USD to USD transfers to your TreansferWise USD account without worrying about the FBO requirement.

msangi

coyrls wrote: »

Does your Etrade account allow ACH tranfers? If so, you can do USD to USD transfers to your TreansferWise USD account without worrying about the FBO requirement.

Sadly I don't seem to be able to set up ACH transfers. Unless I am doing something wrong I think that this is not an option for my "Stock Plan" account.

msangi

msangi wrote: »

Revolut seems easier to setup. I have an account to my name with UK Swift and IBAN, but I'm a bit confused by ETRADE requiring also a sort code.

An update on this: I just chatted with the ETRADE customer service but they've not been able to tell me if the sort code is required or not. They gave me a number to call, I'll try it in the next days and I'll report back if I manage to get an useful answer

oxycom

msangi wrote: »

An update on this: I just chatted with the ETRADE customer service but they've not been able to tell me if the sort code is required or not. They gave me a number to call, I'll try it in the next days and I'll report back if I manage to get an useful answer

Hi msangi,

did you manage to sort this out?

Thanks!

coyrls

I got an eamail from TransferWise today. It seems they are droping the TransferWise FBO requirement for wire transfers to US accounts and will go back to accepting the account name from 5th August.

blauman

coyrls wrote: »

I got an eamail from TransferWise today. It seems they are droping the TransferWise FBO requirement for wire transfers to US accounts and will go back to accepting the account name from 5th August.

That's great news! Any chance you could post the content of the email?
Much appreciated!

coyrls

blauman wrote: »

That's great news! Any chance you could post the content of the email?
Much appreciated!

Sorry I've deleted it. Help still refers to FBO but it's not 5th August yet. Best to give them a ring, they've been helpful when I have contacted them in the past.

zillon

just setting up an etrade to transferwise payment on a non brokerage etrade account so I can't move money - have to use wire transfer

I was able to set it up using wire transfer to US institution and then using the wire transfer number and not the routing (ACH or ABA number)

the transfer is free so I've sent $1 and etrade have confirmed it's gone... just waiting for it to appear in my transferwise account now... will let you know how it goes

abedegno

I'm trying to do the same - I have a securities account and the only option I appear to have for moving money is wire transfer; but wire transfers appear to cost $25 and are not free for me?

zillon wrote: »

just setting up an etrade to transferwise payment on a non brokerage etrade account so I can't move money - have to use wire transfer

I was able to set it up using wire transfer to US institution and then using the wire transfer number and not the routing (ACH or ABA number)

the transfer is free so I've sent $1 and etrade have confirmed it's gone... just waiting for it to appear in my transferwise account now... will let you know how it goes