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XE.com: wiring money using BACS or CHAPS?

XE.com: wiring money using BACS or CHAPS?

Old Apr 20th 2008, 2:30 am
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Default XE.com: wiring money using BACS or CHAPS?

I've searched through the forums and haven't found any info about this.

I'm trying to transfer 4500 GBP from my UK account to my US account using XE.com. I set up the trade transfer and the ball is rolling but im confused. It wanted me to wire money to them from my UK account. It gave me 2 sort codes: BACS and CHAPS. I went to Halifax online and tried to use the CHAPS (wire) sort-code to set up a transfer and the system said that was invalid so I used BACS and it worked.

Then i get an email form XE saying that if I chose the wire transfer I must include the fee( $10 - I didn't include this btw).I didnt realise i had a choice: I had to wire so I thought? Do I need to include the fee even if I used the BACS sort code.

I'm so confused and driving my husband crazy. I know quite a few people on here use xe.com so any help would be great. Thank you

Last edited by weazie; Apr 20th 2008 at 2:32 am.
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Old Apr 20th 2008, 2:35 am
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Default Re: XE.com: wiring money using BACS or CHAPS?

Originally Posted by weazie View Post
I've searched through the forums and haven't found any info about this.

I'm trying to transfer 4500 GBP from my UK account to my US account using XE.com. I set up the trade transfer and the ball is rolling but im confused. It wanted me to wire money to them from my UK account. It gave me 2 sort codes: BACS and CHAPS. I went to Halifax online and tried to use the CHAPS (wire) sort-code to set up a transfer and the system said that was invalid so I used BACS and it worked.

Then i get an email form XE saying that if I chose the wire transfer I must include the fee( $10 - I didn't include this btw).I didnt realise i had a choice: I had to wire so I thought? Do I need to include the fee even if I used the BACS sort code.

I'm so confused and driving my husband crazy. I know quite a few people on here use xe.com so any help would be great. Thank you
I think the $10 is XE's charge for the wire transfer...it's got nothing to do with BACS.
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Old Apr 20th 2008, 2:39 am
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Default Re: XE.com: wiring money using BACS or CHAPS?

Originally Posted by Jerseygirl View Post
I think the $10 is XE's charge for the wire transfer...it's got nothing to do with BACS.
So I shouldnt have to include the fee if I used the BACS sort-code?

Is it even acceptable for me to use the BACs sort-code or do I have to use CHAPS?

Thanks
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Old Apr 20th 2008, 2:52 am
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Default Re: XE.com: wiring money using BACS or CHAPS?

when i use the be to transfer uk to us - i chose the first set of bank details it gives (cant remember if thats chaps or bacs - but its the first set listed) and then transfer it to that account by internet banking from my uk current account. Thats free. If i want it 'wired' at the other end then they charge me $10 or so and i have to add it to the money i send them. If i took a cheque in dollars i wouldnt have that fee i believe.
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Old Apr 20th 2008, 12:40 pm
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Default Re: XE.com: wiring money using BACS or CHAPS?

Bank of Scotland allowed us to transfer online using BACS (no charge). If we wanted to use CHAPS we had to go in to the branch and it would cost us £20.00/£25.00. Both methods are known as a 'wire' - it's just that BACS is free and CHAPS costs as it is faster.
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Old Apr 20th 2008, 1:14 pm
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Default Re: XE.com: wiring money using BACS or CHAPS?

Originally Posted by weazie View Post
I've searched through the forums and haven't found any info about this.

I'm trying to transfer 4500 GBP from my UK account to my US account using XE.com. I set up the trade transfer and the ball is rolling but im confused. It wanted me to wire money to them from my UK account. It gave me 2 sort codes: BACS and CHAPS. I went to Halifax online and tried to use the CHAPS (wire) sort-code to set up a transfer and the system said that was invalid so I used BACS and it worked.

Then i get an email form XE saying that if I chose the wire transfer I must include the fee( $10 - I didn't include this btw).I didnt realise i had a choice: I had to wire so I thought? Do I need to include the fee even if I used the BACS sort code.

I'm so confused and driving my husband crazy. I know quite a few people on here use xe.com so any help would be great. Thank you
http://www.xe.com/help/index.php#delivery
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Old Apr 20th 2008, 5:13 pm
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Default Re: XE.com: wiring money using BACS or CHAPS?

Originally Posted by ChocolateBabz View Post
Bank of Scotland allowed us to transfer online using BACS (no charge). If we wanted to use CHAPS we had to go in to the branch and it would cost us £20.00/£25.00. Both methods are known as a 'wire' - it's just that BACS is free and CHAPS costs as it is faster.
Thanks! Ok, so i've probably done it right then if it worked for you.

Thanks for the link, Ray, its bookmarked!
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Old Apr 21st 2008, 12:44 pm
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Default Re: XE.com: wiring money using BACS or CHAPS?

Originally Posted by weazie View Post
Thanks! Ok, so i've probably done it right then if it worked for you.

Thanks for the link, Ray, its bookmarked!
Used it loads of times; just to confirm, yes you have done it right. No fee for BACS, it just takes slightly longer but you'll still have your money in the US within a working week.
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Old Apr 21st 2008, 1:14 pm
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Default Re: XE.com: wiring money using BACS or CHAPS?

Originally Posted by weazie View Post
Thanks! Ok, so i've probably done it right then if it worked for you.

Thanks for the link, Ray, its bookmarked!
This sounds to me like the delivery of the money at this end as opposed to anything to do with your money being sent to XE. How did you setup the payment in the US? It shoudl be EFT. That would just pay into your bank account and is free. If you want to wire at this end then they may charge.
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Old Apr 21st 2008, 9:40 pm
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Default Re: XE.com: wiring money using BACS or CHAPS?

Originally Posted by Longy View Post
This sounds to me like the delivery of the money at this end as opposed to anything to do with your money being sent to XE. How did you setup the payment in the US? It shoudl be EFT. That would just pay into your bank account and is free. If you want to wire at this end then they may charge.
I selected EFT for the US side of things. Didnt have a choice for the UK side of things- I only had wire transfer as an option .
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