There's a receive function on TransferWise where they will give you a US account number to receive money from the US.
My reason is to avoid charges from e-trade (25usd) and local bank exchange rates (and receiving fees).

Edit: 25USD is charged for every outgoing wire from E-Trade regardless of currency. But foreign currency disbursement fee is up to 3% on the exchange rate.

This post has been edited by Lalalala99: Dec 9 2021, 05:08 PM

I see, interesting. I have only used Instarem, which I don't recall have receive function.

I suppose, there is still charges applicable anyhow right?

There's a 7.5USD charge for receiving and 1.06MYR to transfer to my local bank. I assume Wise's exchange rate is much more competitive compared to local banks.

it looks like you have to take one for the team....

Yep. Will let you guys know how it goes

I sold my stocks a few days ago. I'm getting this message:
Your proceeds have been deposited in E*TRADE Securities account xxxxxxxx. Anyone knows where is this securities account. Can't find it in the app

Edit: found it. It takes a few hours after the proceeds deposited notification for the proceeds to appear

This post has been edited by Lalalala99: Feb 17 2022, 08:10 PM

I managed to wire funds from E-Trade to Wise. It took less than 3 hours. Total fees: 25usd from E-Trade and 7.5usd to receive wire in wise.

You receive in USD. You can look up USD to MYR rate and fees on Wise app.

See my edit bro. I realized that they charge 25usd for every wire. So this is to avoid unknown foreign exchange rate. With wise I know what's the actual rate beforehand

Sorry for the confusion.
Option 1: you wire directly to your local bank. Charges: 25USD for wire + forex by local bank which I don't know
Option 2: you wire to wise. Charges: 25USD for wire + 7.5USD wise receiving fee + wise forex which I can see beforehand

Sorry to necro an old thread.

Can ask if anyone has used the new 2FA in ETrade successfully? I didn't see the email and no reminder in the Etrade app until early this year when I cannot log in anymore. Now locked out.

pls call their toll free number. They hv to enable the Symantec VIP soft token in yr hp.
Malaysia
1 800 818 672 (toll-free, fixed Telekom Malaysia and mobile ATUR with International dialing only, airtime may be charged when calling from mobile phones)

thk you

This post has been edited by kino318: Mar 14 2024, 06:08 PM

Finally! Thanks. Will try.

Just to confirm, are you using Wire transfer method to transfer to Wise? Or is it ACH (Automatic Clearing House) direct deposit method?