Options for receiving a large amount of USD

Update - At this stage, I plan to hold off until 2024 and I'll try Revolut again to see if the issue has been resolved!
 
wantoknow said:
What about using lightyear for the proceeds from e trade share sales? The light year USD client account is with Wise Inc. Once the fund are received, I convert it to EUR and transfer back to my Irish bank account. Is there any risk associated with this?
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Has anyone tried this (i.e. a wire transfer from Etrade to Lightyear USD account), did it work & what fields in Etrade were needed for it to succeed?
I've added my Lightyear USD account as a wire recipient in Etrade (using LY's UD bank transfer details, including ACH routing number etc), but haven't yet tested it for the following reasons;
  • Intermediaries; It's unclear if LY use any intermediaries (despite the LYD USD account using an ACH routing number), if so Etrade will need to edit the recipient details for me accordingly. So I'm waiting on Lightyear Customer Support to confirm if they use intermediaries, but that may take a while. If LY do use an intermediary then Etrade customer service state they will need to update the wire recipient details accordingly.
  • Bank name; The ACH routing number officially resolves to a different bank name than that provided by LY. Etrade customer support state they can't/won't use the LY-provided bank name. Hopefully that won't pose an issue, Etrade indicate it won't.
  • Account name; The LY USD account name is not my name. According to Etrade customer service the only implication of this is that the wire recipient won't appear in my Etrade profile so I need to phone Etrade any time I want them to manually initiate a wire transfer on my behalf (not a problem for me).
Good news is that Etrade said they would waive their $25 fee if the wire transfer attempt to LY fails & needs to be re-attempted with different details.
 
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