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Old 12th December 2019, 09:28 PM
Gazzalee Gazzalee is offline
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Gazzalee is a jewel in the roughGazzalee is a jewel in the roughGazzalee is a jewel in the rough
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Users Flag! Originally from usa. Users Flag! Expat in philippines.
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Quote:
Originally Posted by bizwizard View Post
I have been getting my money via ATM from a Schwab account.

Recently I bought a car and needed a lot of cash, so I tried something different. I went through the verification process of my Schwab account with XE, and had them transfer the money to the car dealer's account. I got the instantaneous exchange rate--but the money didn't go into his account for about 10 days. So that's how they make their money, and it's painless for me. I can live with that delay since, after the first delay, the money will be in my account every 30/31 days.

Now all I need is my I-card so I can open a bank account to transfer the money into...

George
bizwizard, I've noticed that money transferred into my Schwab account is held as 'cash on hold' before being fully credited and accessible for 3 or 4 days. Not really an issue as I never need it that quickly. Holding the money for a few days is the only way on the complete transaction chain that I see Schwab can benefit on the deal. No hit on the transaction or exchange rate, zero. So I'm convinced their system works best for my situation.
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