Question for users of XETrade
Mar 19th 2006 | 1:46 am
#16
Gone but not forgotten. RIP
Joined: Apr 2001
Posts: 1,570
Re: Question for users of XETrade
Originally Posted by ukemigrant
Hi, I know some of you have used and recommended this in the past. I have a simple question that is not obvious from their website (I've set up an account with them and am ready to go). How do you actually make a transfer (with confidence I add - I went all the way through their basic trade process but balked at pressing Confirm).
I want to transfer say 1000 GBP to here in the US from the UK. I entered 0 for buying, 1000 for selling, USD for buying currency and GBP for selling currency. I chose my EFT bank as the destination, and the only option it gave for paying them was through wire transfer - is this correct?
Thanks in advance.
I want to transfer say 1000 GBP to here in the US from the UK. I entered 0 for buying, 1000 for selling, USD for buying currency and GBP for selling currency. I chose my EFT bank as the destination, and the only option it gave for paying them was through wire transfer - is this correct?
Thanks in advance.
First, I set up his Natwest account info as a "Wire Beneficiary". Then I did a "Basic Trade" from my "EFT Bank Account" which is set up for automatic deposit or withdrawal.
The funds disappeared from the EFT account the next day. I expect the deposit will appear in his account on Monday or Tuesday which would be about 3 or 4 business days.
The rate applied was 1.77409983 and there was a $17.74 fee for part of the transaction.
Wiring the money via Western Union would have been about $40 with an unknown exchange rate and unknown commission.
Mar 19th 2006 | 1:51 am
#17
Gone but not forgotten. RIP
Joined: Apr 2001
Posts: 1,570
Re: Question for users of XETrade
Originally Posted by ukemigrant
I entered 0 for buying, 1000 for selling, USD for buying currency and GBP for selling currency.
Thanks in advance.
Thanks in advance.
Mar 22nd 2006 | 3:10 pm
#18
Forum Regular
Joined: Mar 2004
Posts: 106
From: Scotland
Re: Question for users of XETrade
Straight from the XE Website
When sending us the funds to be converted, you can in fact use any electronic payment method available to you, provided that you initiate the payment within 3 business days and that you inform us by e-mail when it has been initiated. Such payment methods would be used in place of a Wire Transfer when sending payments to XEtrade. For example, in the United Kingdom, the CHAPS or BACS services can be used, and In Australia and New Zealand, the Internet Payment and Pay Anyone services can be used. These are just examples; other options may be available in your jurisdiction. If you wish to use such a payment method, specify "Wire" as the method by which you will be sending the funds to us
When sending us the funds to be converted, you can in fact use any electronic payment method available to you, provided that you initiate the payment within 3 business days and that you inform us by e-mail when it has been initiated. Such payment methods would be used in place of a Wire Transfer when sending payments to XEtrade. For example, in the United Kingdom, the CHAPS or BACS services can be used, and In Australia and New Zealand, the Internet Payment and Pay Anyone services can be used. These are just examples; other options may be available in your jurisdiction. If you wish to use such a payment method, specify "Wire" as the method by which you will be sending the funds to us
