Current Account won't accept USD wire transfer - What can I do

Dapos

Hi,

I want to transfer some money from an American investment site that I had shares with. They will only do international wire transfers in US dollars. This wasn't a problem when I was with Bank of Ireland but I moved to KBC a while back and they don't' accept it.

They also won't transfer to any account other than the one I have registered with the account under my own name.

I don't see any options other than setting up another current account with BoI or AIB. Any suggestions?

dennyk

You can use a service like Transferwise; they charge a small fee and of course they take a little off the top on the exchange rate as well, but it's still pretty reasonable, usually cheaper than a wire transfer (although if your brokerage account can't do ACH or EFT transfers to Transferwise, you might be stuck paying for a wire transfer from that account to Transferwise anyway; still might be cheaper than an international wire, though...). Transferwise would then send your money via a bank transfer in Euros to your KBC account.

Yggr of Asgard

Standard Transferwise won't work for the OP as he clearly pointed out that the receiving account needs to be in his name

However, the OP could sign up to Transferwise Borderless account which gives him a US account number in their own name which the US Investment site and it would also have the advantage that it's than an ACH transfer which is cheaper.

Then the money can be withdrawn using Transferwise exchange rates as long as it's below 10000$ without large paperwork as long the OP has a statement of the investment site in case they want proof of funds.

And before someone says Revolut, that is not possible because the OP specifies that the account needs to be in their name.