XE.com wire transfer: XE wants the funds sent to them first?
#1
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Joined: Mar 2009
Location: Orange County, CA
Posts: 26
XE.com wire transfer: XE wants the funds sent to them first?
We're trying to transfer funds from a UK account to a US account via XE.com. They say that we can only wire it and we have to send it to them first. Sounds like a lot of hassle. What's the advantage here? Why not just initiate the transfer using the UK bank?
#2
Lost in BE Cyberspace
Joined: Feb 2004
Posts: 14,577
Re: XE.com wire transfer: XE wants the funds sent to them first?
I expect they want to make sure you're not going to con them.
#3
Re: XE.com wire transfer: XE wants the funds sent to them first?
when i use XE - and ive used it at least 6 times that i can remember across a 2 year period - i sent the english money to their London branch as instructed and then they sent the US money to my US bank account. Took 5 days from start to finish - even though it can take 2-3 days for my bank to send it to them! always been very happy with XE - you can see exactly what you are getting as they quote exactly how much USD you will get for the GBP you are sending on the exchange rate they offer that minute. With your own bank your never sure exactly what exchange rate you will get..
#4
Re: XE.com wire transfer: XE wants the funds sent to them first?
As MsElui says plus a better exchange rate than your bank will ever give.
#5
Re: XE.com wire transfer: XE wants the funds sent to them first?
when i sent it to them - i do it via online banking too- so it doesnt cost me anything - so cheap too!
#7
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Re: XE.com wire transfer: XE wants the funds sent to them first?
ukforex is my company of choice, easier to set up an account than XE, comparable or better rates almost all the time, from start to finish has never been more than three working days.
I suspect that may be helped by the fact that my UK bank account is with the same bank that they use (Barclays) - so the funds are credited to them overnight rather than in 2-3 days.
I suspect that may be helped by the fact that my UK bank account is with the same bank that they use (Barclays) - so the funds are credited to them overnight rather than in 2-3 days.
#8
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Re: XE.com wire transfer: XE wants the funds sent to them first?
When you order something from amazon, if you ask them to send it to you, and when you get it, you'll send them the money - what do you think their response would be?
#9
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Re: XE.com wire transfer: XE wants the funds sent to them first?
#10
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Joined: Apr 2009
Location: Berkeley, CA
Posts: 927
Re: XE.com wire transfer: XE wants the funds sent to them first?
And funds can be sent to XE with FPS, which is free and takes 2 hours. I've had a UK-to-US transfer with them take less than 48 hours end to end. US-to-UK still takes a week though.
Right now is a good time to buy GBP, and a bad time to buy USD. The rate is the worst since mid-October.
Right now is a good time to buy GBP, and a bad time to buy USD. The rate is the worst since mid-October.
#11
Joined: Jan 2008
Posts: 7,605
Re: XE.com wire transfer: XE wants the funds sent to them first?
ukforex is my company of choice, easier to set up an account than XE, comparable or better rates almost all the time, from start to finish has never been more than three working days.
I suspect that may be helped by the fact that my UK bank account is with the same bank that they use (Barclays) - so the funds are credited to them overnight rather than in 2-3 days.
I suspect that may be helped by the fact that my UK bank account is with the same bank that they use (Barclays) - so the funds are credited to them overnight rather than in 2-3 days.
#13
Banned
Joined: Dec 2009
Posts: 18
Re: XE.com wire transfer: XE wants the funds sent to them first?
Hi Johnny,
Most currency companies you will have to send funds to first, so that they have convert it and send it out for you. 3 -5 days is quite long for a transfer though, and i think there are better companies to use rate wise. Im currently using currencies 4 you, for my past 6 or 7 trades. Might be worth getting a quote off them.
Hope that helps.
Most currency companies you will have to send funds to first, so that they have convert it and send it out for you. 3 -5 days is quite long for a transfer though, and i think there are better companies to use rate wise. Im currently using currencies 4 you, for my past 6 or 7 trades. Might be worth getting a quote off them.
Hope that helps.