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Old 12th December 2019, 09:28 PM
Gazzalee Gazzalee is offline
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Users Flag! Originally from usa. Users Flag! Expat in philippines.

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...

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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