Cheapest way of converting EUR->USD?
I have a US bank account and an EU bank account. Can open new bank accounts anywhere if needed. So far the best deal I've found is transferwise, which takes about 0.5% off the Google rate. I was also looking at crypto but exchange fees don't make it worth it at my level (O(10k)). Any advice?
Look into IB (interactive brokers), if they have a branch in the EU country, you can open an account there and move money around with minimal fees and the lowest forex
I already have an account with them, will see how much they'd charge 😁 thanks!
Couple bucks per $100k. Which is nothing considering the normal market volatility. Extremely low spreads, sub 1 pip.
ATMs. 0% fee
This is a great idea! Didn't think of that, thx
But 2% markup in exchange rate over the market
for IB and transferwise what are the limits for transfer?
For IB depends on security level of your account https://www.interactivebrokers.com/en/software/am/am/manageaccount/withdrawal_limits.htm Also incoming USD transfers via ACH are blocked for withdrawal for 45 days or so as they are reversible. But not wire transfers AFAIK
TransferWise is $1 million
i think transferwise will report the amount transferred above 10K https://transferwise.com/us/blog/international-wire-over-10000 curious if anyone has transferred 10K or more and if transferwise asked for additional docs
Use Qapital?
TransferWise, is the best !