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I tried wise some time ago. I wanted to send Euros to them, convert it to USD and then send it from my wise account to an American Bank account. To my dismay,
by super256 3y ago
I tried wise some time ago. I wanted to send Euros to them, convert it to USD and then send it from my wise account to an American Bank account.
To my dismay, I found that wise doesn't do Swift transactions in USD to bank accounts in the USA. I actually thought that was the whole idea behind wise, but apparently not?
The other option was to pay my bank an additional 40€+ fee for each Swift transaction, which is too much if you need to wire money every month to the states. USDC was the cheapest option in the end (Coinbase doesn't charge for SEPA -> Coinbase and the EUR/USDC exchange rate is closely tracking EUR/USD).
I would agree that >99% of the tokens and cryptocurrencies are garbage. But I would be sad to see Bitcoin and Monero dying.
- bentcorner 3y agoI'm not a banking person but if you have a US bank account can't you do an ACH transfer from Wise to your bank?
- wiredfool 3y agoYeah, I don’t know why you’d want to use Swift, as that’s more an international rail. ACH or Wire are the standards inside the US, along with some of the newer proprietary stuff like Zelle.
- super256 3y agoWire costs 40€ from my bank which I didn’t want to pay.
- philipwhiuk 3y agoHow much did you pay in BTC fees?
- MacsHeadroom 3y agoHe said he used USDC, likely on a rollup which is typically around 1 cent to 50 cents.
- wiredfool 3y agoBut once you're in Wise, you have a US acct/routing number (from Evolve, iirc).
- super256 3y agoI just went straight to the "transfer" button and ended up with this form: https://imgbox.com/QY8GQFhQ https://imgbox.com/QY8GQFhQ
- bentcorner 3y agoI get something like that if I'm trying to send Euros from my Wise account (and there's an "Inside Europe"/"Outside Europe" toggle). Are you able to exchange your EUR to USD within Wise first? https://imgbox.com/ADDZxVXh https://imgbox.com/ADDZxVXh
- super256 3y ago> Are you able to exchange your EUR to USD within Wise first? I currently have nothing on my wise account, as I used the different solution I've described above. I will try that next time.
- super256 3y agoI have a German Bank. I wanted to to the following: German Bank -€-> Wise - convert Euro to USD -$-> US Bank. German Bank to Wise is a SEPA transfer. That worked fine. But it didn’t allow me to send USD to a US bank (only Euros/other currencies). ACH is only available from within the US on wise(?).