Is Transferwise is elligible payment method for depositing and withdrawl through wire transfer in T212?
No, but you can use Revolut, as it offers a personal IBAN account.
Using TW should be fine, however depending what currency, EUR/GBP should work just fine. USD , T212 doesn’t accept funds from US bank account. So USD is questionable as TW has US bank account to handle USD.
@GargoyleBG actually TW offers IBAN for many currency, you have separate bank account for GBP/EUR/USD. So in this case it is even supporting localised transfers.
Maybe I thought about Paysera working that way
Transferwise offer IBAN for euro and british pound accounts but not US dollar account.
I didn’t apply for any of them yet. If there any earlier experience, @GargoyleBG I would like to know if there any geographical restrictions to get such IBAN accounts?
Revoult is not available in my country
@Vedran I can make USD wire transfer to T212 directly, I still not sure is that acceptable at your side?
I didn’t say it is not possible from Tw side, however T212 states they don’t accept bank wire from US bank.
I am not sure what is the source when sending USD from TW. That is the big question.
I have used TransferWise debit card for the GBP payments. Not tried withdrawal.
I assume you could hold multiple currencies and spend from the TransferWise card.
Drawback is, from next week there would be a charge for card payments.
I used TransferWise card and it was fine both ways for deposit and for withdrawal. I have the accounts with TW in USD, GBP, Euro I have tried to transfer money via wire transfer to T212 but some information are missing like the complete address of T212 bank that TW requires and we don’t have therefore I couldn’t do a wire transfer. If you will be able to, please let me know.
I believe topic is about bank wire due to card payment fee introduction in 2021.
Address of T212 is:
And it doesn’t work as I tried sometime ago.
may i know the routing number u filled…
I have do the exact same things you showed, after clicking continue,
I have no idea what to fill for the routing number
I believe you can get all Trading 212 bank details required for wire transfer as following:
Deposit Funds > bank transfer
I did successfully make a deposite using Transferwise bank transfer with no hassle.
Now, I am waiting the withdrawl using TW bank transfer as well.
I will inform you as soon I get my withdrawl.
Here the full experience:
- Depositing through Wise (ex. TransferWise) was easy and didn’t face any problem.
Withdrawal to Wise didn’t success **
My trial to withdraw my balance using wire transfer to Wise EUR account faced a rejection by the bank of Wise as T212 informed me and the funds get back to the balance at T212.
I did RE transfere that amount of funds (USD) in my balance to my local EGP bank account and did receive the full amount successfully.
** There is no clarification for the cause of Wise bank didn’t accept the transfer as T212 didn’t provide me with any reference code for the transfer upon my request to be able to follow up the case with Wise!
I see what happened here - let me assist you to sort this asap. I will DM you to discuss your case
Were you able afterwards to withdrawal USD from T212 to your Wise USD account?
T212 does not accept wire transfer for deposit or withdrawal to US located banks.
For @RLX question:
No, it is not possible to withdraw USD from T212 to Wise USD account.
Thanks. I suppose is a FATCA thing.
Yes I do regularly, I send back to Wise account through the Wise card. No problem in withdrawals from T212 to Wise account.
Now with T212 Card fees, it could be damaging.
Between the 0.15% in FX fees in each transaction and 0.7% in Transfer Card fees, I guess you have to do some maths to have the lesser fees.