facebookHi! Does anyone know if it’s possible to fund Saxo with Transferwise with USD? (SGD:USD)? - Seedly

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Anonymous

10 Nov 2020

Stocks

Hi! Does anyone know if it’s possible to fund Saxo with Transferwise with USD? (SGD:USD)?

Funding of brokerage account with USD by using Transferwise for better FX Rate

EG: Using Transferwise to buy USD with SGD. Then, fund Saxo with USD available on Transferwise Acc?

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Hi! Yes u can fund saxo usd acc by transferring usd into it via transferwise. I've done so twice, my husband n friends have made at least 5 transfers. Follow the telegraphic transfer funding instruction by saxo, U'll be instructed to transfer into saxo's HSBC bank account. Diff ppl might get diff hsbc account no. Incl the swift code given by saxo at transferwise. Fyi, there's charges of usd 3+ by swift + usd15 by HSBC saxo (fees for receiving funds). So u shd transfer significant sum to make it worthwhile. It takes 2-3 days for tf but theres once I got it in ard 24hrs. Tips from helping friends w transferwise-saxo, dun deposit money into transferwise 1st, just use it as a platform/money changer n directly transfer to enjoy the 1st time fee waiver benefits. U can use my promo code for the fee waiver: https://transferwise.com/invite/a/suaty16

Do you know if you need a USD denominated Saxo account in order to transfer in USD? I don't have enough AUM to open a sub acct. want to avoid the case where I transfer in USD via TW only to have them (Saxo) convert it back to SGD and then to USD again to pay for US products.

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Had the same question recently and clarified with Saxo.

Yes, you can fund your Saxo account through...

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