Xe.com- ID?
I am trying to set up an account with Xe.com to transfer my funds.
They seem to be asking me multiple ID's like bank statement, what I need the money for, passport/drivers licence. Just wanting to make sure this is standard practice and is safe for me to send?:huh: Apologies if this post might look like dumb!!:blink: |
Re: Xe.com- ID?
Perfectly normal, and indeed for a provider of financial services in the US (xe.com belongs to Western Union) the information is required. It was included in the requirements of the post-9/11 USA PATRIOT Act and has been in effect for more than ten years.
In short the requirements are proof/ evidence of four things: (i) Name (ii) Address (iii) Date of birth (iv) A government issued ID number which is typically, but not necessarily, a SSN Exactly how those things are proved is somewhat at the discretion of the institution, but for US citizens it can be dealt with electronically. For new immigrants the problems of providing satisfactory evidence of the four things above can cause difficulties, especially if they won't accept a passport. |
Re: Xe.com- ID?
Originally Posted by Pulaski
(Post 11528616)
Perfectly normal, and indeed for a provider of financial services in the US (xe.com belongs to Western Union) the information is required. It was included in the requirements of the post-9/11 USA PATRIOT Act and has been in effect for more than ten years.
In short the requirements are proof/ evidence of four things: (i) Name (ii) Address (iii) Date of birth (iv) A government issued ID number which is typically but not necessarily a SSN Exactly how those things are proved is somewhat at the discretion of the institution, but for US citizens it can be dealt with electronically. For new immigrants the problems of providing satisfactory evidence of the four things above can cause difficulties, especially if they won't accept a passport. |
Re: Xe.com- ID?
Originally Posted by brit_usa2014
(Post 11528631)
Thank you, when you say xe.com belongs to Western Union, that's not a bad thing right?:unsure: (After reading all horror stories of Western Union)
|
Re: Xe.com- ID?
Originally Posted by Pulaski
(Post 11528635)
Xe.com was bought by WU as an already fully functional stand-alone business located in Canada, not a business WU developed thrmselves. I use xe.com myself. :)
|
Re: Xe.com- ID?
Apart from a snafu with personal/business accounts (my fault, but then they didn't exactly warm themselves to me setting up the business account), they've been ok for me. I transfer 1-2 times a month and have done so for nearly 3 years now.
|
Re: Xe.com- ID?
Originally Posted by brit_usa2014
(Post 11528612)
I am trying to set up an account with Xe.com to transfer my funds.
They seem to be asking me multiple ID's like bank statement, what I need the money for, passport/drivers licence. Just wanting to make sure this is standard practice and is safe for me to send?:huh: Apologies if this post might look like dumb!!:blink: |
Re: Xe.com- ID?
Can someone tell me briefly the process of using Xe (if what Im doing is correct)?
First I need to go to My Accounts Tab and add my bank details (in this case the bank from where I will be transferring the amount) then I need to go to the Recipients tab page and add my US bank details? After that I just go to the Trading tab on Homepage (once I log in) enter the amount I want to trade from GBP to USD and click on Book Trade? Anything else? Will there be any fees I will have to pay? Many thanks!:) |
Re: Xe.com- ID?
Originally Posted by brit_usa2014
(Post 11533662)
Can someone tell me briefly the process of using Xe (if what Im doing is correct)?
First I need to go to My Accounts Tab and add my bank details (in this case the bank from where I will be transferring the amount) then I need to go to the Recipients tab page and add my US bank details? After that I just go to the Trading tab on Homepage (once I log in) enter the amount I want to trade from GBP to USD and click on Book Trade? Anything else? Will there be any fees I will have to pay? Many thanks!:) |
Re: Xe.com- ID?
Originally Posted by BunnyGirl
(Post 11533695)
Nope, no fees, just make sure you're happy with the rate before you lock it in.
|
Re: Xe.com- ID?
Originally Posted by Pulaski
(Post 11533739)
And make sure to select "credit by ACH", not by wire, because a wire is almost certain to attract a fee from your bank.
Do you select that option when you "Book trade" (I ask because in recipient I have only the option to add a wire routing no and a Swift code, but no Ach no)? How many days does it typically take to reach your bank? |
Re: Xe.com- ID?
Originally Posted by brit_usa2014
(Post 11533743)
Thank you, that's quite helpful!
Do you select that option when you "Book trade" (I ask because in recipient I have only the option to add a wire routing no and a Swift code, but no Ach no)? How many days does it typically take to reach your bank? If your USD funds were a parcel that you wanted to send, choosing "wire" or "ACH" to effect delivery is like choosing Fedex or UPS to deliver the parcel, the destination address is the same, the mechanism for getting it there is different. ...... It is a while since I needed to use xe.com but the choice of wire of ACH used to be a pull-down on the same screen that you specify the routing and account numbers to credit the funds to. |
Re: Xe.com- ID?
Originally Posted by Pulaski
(Post 11533785)
It is a while since I needed to use xe.com but the choice of wire of ACH used to be a pull-down on the same screen that you specify the routing and account number to credit the funds to.
|
Re: Xe.com- ID?
I initiated the payment, all went through fine, chose the ACH/EFT option but after confirming and locking in the trade was given instructions that I need to transfer the money from my account to their account at Barclays?:unsure:
I called the helpline this morning, and she said it was normal- just checking on here to make sure it is normal process, before I continue? Many thanks!:) |
Re: Xe.com- ID?
Originally Posted by brit_usa2014
(Post 11534455)
I initiated the payment, all went through fine, chose the ACH/EFT option but after confirming and locking in the trade was given instructions that I need to transfer the money from my account to their account at Barclays?:unsure:
I called the helpline this morning, and she said it was normal- just checking on here to make sure it is normal process, before I continue? Many thanks!:) |
All times are GMT. The time now is 3:41 pm. |
Powered by vBulletin: ©2000 - 2024, Jelsoft Enterprises Ltd.
Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.