Transferwise Bank wire

🤝 Help
1

Hi , I am interested in using Transferwise bankwire for deposits/withdraws as the card is not available in my region yet. Depositing thru TW wire is pretty easy , however I am nervous about withdrawal as I only can withdraw back to TW , as I messaged TW they said that they will reject the money if Trading 212 shows up as the sender / will only accept it if it is under my name. Has anyone here used TW wire for deposits/withdrawal successfully ??
Thanks for helping!

2

Hi, used Transferwise and I could deposit and withdraw with it without problems. hope that helps.

2 Likes
3

This is the response I got from TW, but looks like it works from the response below.

  1. What worries me is the wiring from Transferwise GBP to USD Trading212. It will be converted to USD with no fee as I understand. Is this true?
  2. What about when I withdraw from USD Trading212 to Transferwise GBP? Will Trading212 convert to GBP and then send?

I’d love to send in USD from Transferwise but my account and card are both in the US which isn’t accepted at Trading212 due to regulations. So, I have to convert to GBP and send it through the international wire to Trading212 USD account.

@Tony.V @David @Team212 are fast in responding. Hope they show up to clear this. Thanks in advance.

4

To your questions:

  1. No conversion fee is applied on our end;
  2. The funds will be issued in the same currency as the one of your trading account. Then after, the recipient bank is the one that will convert to the sum relevant to your bank account. Thus they might apply a fee, but this has to be confirmed with them.
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5

Are your transferwise and trading212 account in the same currency? Both USD?

6

when I am depositing money to Invest account I am using USD on both sides.

7

I forgot to ask, where is your TW USD account located? Mine is in the US, so can’t use it.

8

I see, mine is in UK.

1 Like
9

Isn’t a TW USD bank details (for receiving) always located in the US? I’ve been writing to TW to get a USD account in the UK with no result.

10

Well you can definitely use TW Mastercard for top up in USD. Not sure how you can use USD bank wire, have not tested from which bank it is actually sent. USD bank details are definitely for receiving USD, but one should test USD bank wire to revolut to see actual details for sender.

11

My TW Mastercard was issued in the US. I couldn’t use it top up in USD. This is the response I got from the trading212 team: Due to regulations, we do not accept any bank transfers from the USA, nor payments from cards issued in the states, or American Express.
Also, my USD bank details are from the US, at least for receiving. How about your TW card?

12

Well you can check your card bin number.

According to it. My card is published in UK, I am from Croatia.