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Old 09.08.2019, 21:52
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Re: Transferring money to America

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Do you use it to transfer money back and forth to the USA?

I did hear back from cfair. The rep said they can handle credit union routing numbers without a problem. So I'm looking at them more closely.
I have credited my account a couple of times in the last 5 years without issue, and plenty of large withdrawals over the last 3 years. I have always made USD foreign wire withdrawals that arrive the following day due to timing differences. Schwab wave all wire fees from their end. Totally satisfied with their service.
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Old 18.09.2019, 15:11
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Re: Transferring money to America

I forgot to update what I finally did. I went with Cfair because they were so prompt and friendly with their communications, and assured me it was no problem to send money to a U.S. credit union without IBAN or BIC/SWIFT.

Registration was easy, transfer of funds was easy and the money arrived in the US account as expected. My Swiss bank didn't charge me anything, because it was a payment to another Swiss account. CF didn't charge me anything because I had a referral code. My U.S. credit union didn't charge me anything to receive the money.

All in all, I'm very satisfied.

I'm still considering a Schwab trading account (thanks for the tip fmf) as well, but for now Cfair worked quickly and flawlessly.
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  #23  
Old 18.09.2019, 15:34
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Re: Transferring money to America

Has anyone explored sending money to a US recipient via Revolut as an option? I've looked up the help section and this looks like an option but the details are not quite clear (i.e. what happens if you send more than USD 10k):
https://www.revolut.com/en-IT/help/e...evolut-account
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  #24  
Old 04.11.2019, 16:11
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Re: Transferring money to America

First post but have made several transfers to US successfully and wanted to share.

I'm using xe.com which is an online portal for Barclays Bank. I transfer from Credit Suisse to my local US bank and let XE make the conversion from CHF to USD. They do not charge any fees and the conversion rate works out to about a 0.5% cost in total, versus the "bank rate" as documented online (Google etc). I tried one transfer with CS and they charged WAY too much...tons of fees plus very bad exchange rate (3-4% worse than bank rate).

Transfer to XE is in CHF by wire (BIC/SWIFT code) and from there they deposit to my US account in USD by wire based on account and routing number. My bank is a local regional one, not international or nationwide.

I transfer every month and have had no problems but remember as a US citizen with a bank account in Switzerland you do have a declaration form to complete every year (I did it at tax time). Hope this helps.
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  #25  
Old 04.11.2019, 16:22
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Re: Transferring money to America

First post but wanted to share that I have used xe.com multiple times and it has worked well. Transfer from Credit Suisse in CHF by wire (BIC/SWIFT) and into my local bank in US (regional one) in USD using account and routing numbers.

They are apparently an online subsidiary of Barclays Bank. The total cost is about 0.5% as compared to the bank rate per Google. No fees. I was paying 3-4% on the exchange rate from CS, plus their transfer fees of 25 CHF or something outrageous.

I have transferred every month without any problems, but remember as a US citizen you must fill out a declaration each year stating you have a Swiss bank account because you are living abroad, and the bank balance. I did it at tax time.
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