XE Trade - Help !!
Hi, I have setup an XE Account and am ready to go. In preparation for my move to the US in the next few weeks I thought I would start taking a look at how I would use the XETrade system.
Due to the couple of beers I have had tonight I can not for the life of me work out if I buying or selling, Wire transfering or EFT'ing (whatever that is), so I need some help from the experts who have used it before. I want to move around £20,000 from my account in the UK to my wifes US Bank account. I would be really grateful if somebody who knows the system could talk me through the process. XE's Help system is not very helpful and the more I look at it the more I'm having a brain fart - lol Thanks again |
Re: XE Trade - Help !!
You'll be selling £20000 GBP then. Leave the value to buy blank, but select USD.
Enter 20000 as the value to sell, selecting GBP. Start with a small amount first, ie £50. Just to check your accounts are set up correctly and money can be wired etc. Make sure your UK bank account can pay Custom House for the transaction. Some banks have payment limits. Barclays is £1000. Walkthrough:- Converting £500 GBP to USD 1. Select Basic Trade. 2. Select No to Third Party. 3. Amount to Sell 500. 4. Currency to Buy USD. 5. Currency to Sell GBP. 6 Next. 7. To be delivered by EFT. 8. To be paid to us by Wire. 9. Next 10. Account to deposit funds to US Account. That should be it. Then read the wire instructions, wire the payment, and sit and wait. Darren |
Re: XE Trade - Help !!
Originally Posted by YankeeDaz
(Post 5647268)
You'll be selling £20000 GBP then. Leave the value to buy blank, but select USD.
Enter 20000 as the value to sell, selecting GBP. Start with a small amount first, ie £50. Just to check your accounts are set up correctly and money can be wired etc. Make sure your UK bank account can pay Custom House for the transaction. Some banks have payment limits. Barclays is £1000. Darren |
Re: XE Trade - Help !!
Have fun. It takes roughly 5 days to be processed and appear in the US account, with the walkthru I provided.
Select the BACS sortcode when you come to wire the payment otherwise your bank will charge you to use the CHAPS one. But obviously select CHAPS if you need to move the money sooner. Darren |
Re: XE Trade - Help !!
Originally Posted by YankeeDaz
(Post 5647315)
Have fun. It takes roughly 5 days to be processed and appear in the US account, with the walkthru I provided.
Select the BACS sortcode when you come to wire the payment otherwise your bank will charge you to use the CHAPS one. But obviously select CHAPS if you need to move the money sooner. Darren And the chaps at XE-Trade are always happy to help on the phone, if need be - though I think they only work Mon-Fri office hours. |
Re: XE Trade - Help !!
There's also the practice run you can do on the site without actually do a real transfer...but it's been a while since I last checked the site so it might have gone :lol:
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Re: XE Trade - Help !!
They will even phone to ensure you really exist ...
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Re: XE Trade - Help !!
And do it when you're not pissed! ;)
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Re: XE Trade - Help !!
Originally Posted by tonrob
(Post 5649490)
And do it when you're not pissed! ;)
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Re: XE Trade - Help !!
Just to add onto this topic, I'm trying to do my first transfer from Australia to the US (wire to EFT). I've booked the trade as above. What do I need to do now to organise the wire? Sorry if this sounds extremely dense!
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Re: XE Trade - Help !!
Originally Posted by augigi
(Post 5789347)
Just to add onto this topic, I'm trying to do my first transfer from Australia to the US (wire to EFT). I've booked the trade as above. What do I need to do now to organise the wire? Sorry if this sounds extremely dense!
You will also get an e-mail from them summarising what you need to do. Basically it is a wire transfer to the XE account, quoting the reference number of your trade. |
Re: XE Trade - Help !!
I emailed for help - turned out, for any other aussies, that you can use Bpay, or "pay anyone" internet payment as a "wire" method - don't have to pay the wire fee of $20 AUD then, just the usual pay anyone fee.
Cheers. |
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