Advertisement
Anonymous
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?
26
Discussion (26)
Learn how to style your text
Reply
Save
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.
Reply
Save
Had the same question recently and clarified with Saxo.
Yes, you can fund your Saxo account through...
Read 2 other comments with a Seedly account
You will also enjoy exclusive benefits and get access to members only features.
Sign up or login with an email here
Write your thoughts
Related Articles
Related Posts
Related Products
4.1
84 Reviews
% of transfers and type of currency
TRANSACTION FEES
$1
MIN. TRANSFER AMOUNT
1-2 days
TRANSFER SPEED
60+
SUPPORTED COUNTRIES
Related Posts
Advertisement
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