took about a week for me
Thank you.
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Hi Eric, in reading your post, were the transferred fund to Bison at Wells Fargo or Citibank? I noticed an intermediate bank info in the post. Question boils down to, do to you need to establish a Wells Fargo account and transfer from that to Bison? Thank you on sharing your insight.
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Hi JC,
Wells Fargo, just happened to be my personal bank that I used to transfer funds to Bison. There is no requirement. I was just relating my personal experience to transfer funds. Thanks
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Hey guys, I just did my first USD transfer from the UK to Bison.
I used my beneficiary USD SWIFT and IBAN and the money was credited in one day (I did not need to inform intermediary and correspondent bank SWIFT or anything like that).
Transfer cost was quite high, nearly 80 USD - a bit impact to the 5 k I transfered. There was one intermediary bank fee from my sending bank, and I assume 2 from Bison.
Since you’re in the UK, why not just send a SEPA transfer? They cost like 1 Euro and take 1 day.
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You can reduce the currency conversion charges to nearly zero by using IBKR as an intermediate step here:
- deposit money from your USD bank account into IBKR (no commission as far as I could tell)
- convert USD to EUR on IBKR (very low commission)
- withdraw money from IBKR to your Portugal EUR account by SEPA (1 EUR commission)
Thanks Tommy, I read about that option earlier in the thread and found it quite ingenious, Ill keep the idea for other oppotunities. As I wont do these transfers frequently, I am ok on paying a higher fee to save the extra time/steps.
I have been waiting 4 weeks or more for the account to be opened. First they said they did not receive my documents, but never actually pinged me to let me know that the documents never arrived till I asked if the account was opened.
I then sent the documents a second time, and this time I made sure to track and get an acknowledgement that they were received. That was two weeks ago. The account is still not open and they (Nuno) tell me they are “processing the documents” when I ask when the account will be open.
I am not at all happy with Bison Bank so far. I am wondering if I should go with Banco Atlantico instead. Anyone here have experience with Banco Atlantico as a US fund investor?
Yes I do.
Chase US → To OFX → To Atlantico. Large GV bulk transfer, no issues. Fair rate. No problems with executing the transfer.
It took them 2 weeks to open my account once they received the paper documents, hopefully yours should be ready soon.
Hi Jim,
I am a non-US citizen from South Asia. I had no other bank willing to open a bank account remotely from USA except Bison Bank. So I had no other choice. Having said that, Bison did open the account in little more than a weeks time. so wait for few days. It should be done soon.
Hi,
Any one here has used schwab to successfully send USD to Bison Bank and have them convert to Euros ?
Need help with filling out wire transfer forms.
Thanks in Advance
JP
I did used Schwab to Millenium bcp. You can either do an international wire transfer in fixed US amount or in Euro. If you choose USD then the receiving bank does the conversion at whatever rate with a fee. If you have Schwab transfer a Euro amount then Schwab does the conversion. I recommend the latter.
Not sure I can help with the paperwork, I did it online in the web UI. The key is having the IBAN & BIC/SWIFT codes of course.
Since the question is directed to me:
All of these questions have been discussed and answered many many times.
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Thank you. Any ideas how many days it takes for the money to land in PT account ?
My Schwab to Millennium transfers have taken about 2 days, assuming you start the transfer early in the day.
Anyone here open an account at Big.pt? Can you share your experience with them and also any contact information of folks there that you worked with to open the account?