USD Wire transfer from Schwab brokerage account


#1

This is the form I have to fill in:

As there is not a 1-for-1 match between this and the instructions in the app, and I don’t want to send money to nowhere, can someone please advise me where to put the IBAN (the account number box is much smaller than the IBAN) and the reference number (should this be in “Transmission Notes”, in the “For Further Credit To” section, or perhaps even the second account holder name)?


Help/Advice General Discussion
#2

I can’t advise on Schwab wire transfers but I have some alternate methods to suggest. It all depends on your situation but here’s how I move money from USA. I use Interactive Brokers because they can send free transfers, converting using FX rates, to any IBAN using SEPA (via German bank). This is the best method for moving large amounts. You can move up to $500 per day using your Schwab Visa to Revolut through Apple Pay at no fee. You can withdraw money at ATMs with no fee and favorable rates using Schwab Visa or Capital One. Ally Bank is almost free at 1%. Revolut is best for changing money once it arrives in your Revolut accounts.


#3

I had the same problem today, I tried entering “308012 11856472” as account number and will let you know if it works


#4

It worked!
It took one day for Schwab to process it and one more day for it to be credited to my Revolut card but it has arrived.


#5

Hi CMoi,

I’m new to Revolut, but I think I want to do the same thing - wire transfer from my share trading account in US.

I’m used to specifying my account number and sortcode at HSBC, but it looks like for Revolut, we use Revolut’s USD account number at Lloyd’s.

What I don’t understand is how do you specify in the wire transfer that the money is for me, not just generally for Revolut?

Thanks,
Alf


#6

When you ask to wire the proceedings of a sale you can’t set a reference

But when transfering from Brokerage account using https://client.schwab.com/Areas/Service/Wires/Index.aspx there are some fields at the end to enter the reference (which is given to you by Revolut and is unique to you)

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You just need to enter than reference on the first line


#7

Thanks for that. I’m with Fidelity, so I’ll have to see what room for references they have.

I guess I’ll try a transfer for a nominal amount first to see if it works smoothly …


#8

Did you manage to transfer money from Fidelity to Revolut? I’m about to try the same


#9

Hi -

No, I haven’t tried yet (stocks performing well).

If you do, could you let me know how it works please?

Thanks,

Alf


#10

Also interested in this…