E*Trade to Europe transfer

S

someCitizen

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Has anyone been able to set up a cost effective way of transferring dollars in E*Trade to Euros in a European bank?

I've seen some discussion on this previously but it seems that previous solutions may no longer be the best way to do things.

Thanks in advance
 
You could look at Wise, you will get a US Bank Routing Number and Account number individual to you which you add as Wire Transfer destination in E*Trade for $ transfers. Unfortunately, it's still Wire Transfer (so you get hit by that E*Trade fee) but it's in US$ and then once it's in Wise you can exchange it there for better rates than E*Trade or your EU Bank account.

Or you can transfer US$ to Revolut and convert it there into € at your own leisure which again might be a better rate than E*Trade.

Unfortunately, all of that will attract the E*Trade Wire Transfer fee (unless you are lucky enough that that fee is 0$ because you have an Employee Stock Plan account that is exempt).

To use the ACH option in E*Trade you need a full US bank account that you can link electronically, otherwise Wire Transfer Fee hits at least from what I understand.
 
I wire from E*Trade to my Revolut IBAN in US$ (I have a Metal Revolut account). Then I use Revolut to convert US$ to € at reasonable cost. Finally I wire the € in Revolut to my main Irish Bank.
Works for me......
 
DublinTexas said:
Unfortunately, it's still Wire Transfer (so you get hit by that E*Trade fee)

Unfortunately, all of that will attract the E*Trade Wire Transfer fee (unless you are lucky enough that that fee is 0$ because you have an Employee Stock Plan account that is exempt).
Click to expand...
Isn't the E*Trade wire fee $25?
Unless you're dealing with very small amounts then it's hardly going to be a significant/onerous cost?
 
ClubMan said:
Isn't the E*Trade wire fee $25?
Unless you're dealing with very small amounts then it's hardly going to be a significant/onerous cost?
Click to expand...

Yes, but the conversion rate that is used by E*Trade or the Irish Bank in case of sending it as Euro or USD to a Euro account is horrendous which is why people send it in USD to Revolut (mind the appropriate fair usage limits) or Wise or Utopia or other providers which provide a better rate.

Also, funny enough, some Employee Stock Plans for example offer free wire transfers.
 
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