I might add E*Trade charge 3% fee to wire the US Dollars if converted to Euros. Revolut was a great way to avoid that 3% fee by wiring in US$, when it worked!E*Trade and the US dollar transfers worked great.
I've often found it difficult to ascertain exact E*Trade charges in advance. This seems a bit vague...I might add E*Trade charge 3% fee to wire the US Dollars if converted to Euros.
Foreign wires and check disbursements are generally charged up to 300 basis points (3%) and additional fees may also be applied.
It is not a SWIFT IBAN. I can't remember the exact rules off hand, but it ends in 2 which from memory SWIFT reachable BICs cannot.Well it is all rolled out now and as the dust has settled.......but I am seeing one massive issue that Revolut messed up. The new Irish BIC (REVOIE22) is not been recognised by the International SWIFT system.
Apparently the SWIFT database gets updated maybe every 6 months and REVOIE22 is not currently on that database. No-one can tell me when it will be added either!
I had the old Lithuanian BIC and IBAN registered with E*Trade and the US dollar transfers worked great. Now E*Trade can't accept the new Irish BIC so the process it broken!!!
The LT one no longer works. No man's land......in banking terms.
Not good!
On E*Trade platform you enter 'REVOIE22XXX' for the BIC Field and, currently, this is not accepted. I asked E*Trade why and they said the new BIC is not up on the international database yet....and that it might take 6mths!It is not a SWIFT IBAN. I can't remember the exact rules off hand, but it ends in 2 which from memory SWIFT reachable BICs cannot.
Similar issue with Computershare, Revolut Swift is REVOIE23 for my account. Computer share says it's invalid. Contacted Computershare and told to contact bank for correct code.Still seems to be an issue receiving USD from e*trade unfortunately
I've had other companies pull this excuse for other Irish BICsSimilar issue with Computershare, Revolut Swift is REVOIE23 for my account. Computer share says it's invalid. Contacted Computershare and told to contact bank for correct code.
It's frustrating, doesn't seem to be much you can do about it either.I've had other companies pull this excuse for other Irish BICs
nothing you can do for the moment about it. My company has thousands waiting on this and we were told unlikely in 2023 to be resolved.Update - I called ETrade manually add my 'new' Revolut IBAN and BIC to their database.
I then attempted to wire US$ from Etrade to Revolut and it failed.
This is so frustrating.
Did E trade charge for failed attempt?Update - I called ETrade manually add my 'new' Revolut IBAN and BIC to their database.
I then attempted to wire US$ from Etrade to Revolut and it failed.
This is so frustrating.
No ETrade charge.Did E trade charge for failed attempt?
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