CurrencyFair to E*Trade?

ClubMan

Registered User
Messages
49,243
Has anybody ever transferred money to E*Trade from CurrencyFair before?
What's the process because it's far from obvious to me.
E*Trade offer the option to configure external accounts on their system but I don't know if this is what's needed here.
CurrencyFair let you send money to a recipient account but I have no idea what the destination details should be so it gets to my E*Trade account and doesn't get lost.
Neither system explains things clearly...
 
I've asked both E*Trade and CurrencyFair for help so hopefully they can advise.
Hopefully it's not like TD Ameritrade and simply not possible with E*Trade.

I did go through the send process and ended up converting my € to $ which I didn't really want to do until actually transferring the money...
I'm not having a good day with financial technology today. :rolleyes:
 
The process is ridiculously complicated and full of impenetrable jargon at both ends (ABA, ACH, FFC, routing number, wire Vs inter bank transfer, etc.). CurrencyFair replied but I'm still unclear on what to do. E-Trade haven't replied yet...
 
I sympathize. It's bad enough within Europe. I did a small Euro withdrawal from Interactive Brokers to my current account recently and managed to send it as an urgent payment which attracted an extra recipient bank fee. I thought I was sending a normal non-urgent SEPA payment.

BTW, even assuming you figure out the best process, there may be AML/KYC reasons brokers don't want inbound transfers from a generic CurrencyFair holding account. Degiro require inbound transfers from a nominated personal account.
 
Thanks. I know that I had to jump through hoops years ago to get E*Trade to allow me to transfer money OUT to TransferMate (I think) pooled account and they wanted some sort of legal document until I managed to get them to accept something else (letter from employer and copy of passport I think). So much for global capitalism, eh... :confused:
 
Back
Top