Wire to Gringott's from eTrade was $25

RocketDogRocketDog Posts: 621 Silver ✭✭✭✭
For those of you suffering from a loss of ACH transfers and looking for ways to wire, I just initiated 2 wires today, one from Bank of America, and one from eTrade. Bank of America charged me $45 for an international wire transfer plus another $15 for "fees" for a total of $60. eTrade charged only $25. It was the same amount of effort for the bank and eTrade to initiate an online wire transfer. I am waiting to see how long it takes each to get into Goldmoney. Then I'll try transferring some money back out.

So if you have an eTrade account, you may be able to ACH from your bank to eTrade and then wire from there (or something similar).

Oddly, I nicknamed my Goldmoney account "Gringott's" when setting it up for wire transfers. I am really starting to think it is equivalent to Gringott's, with stacks of gold, guarded by Dwarves (aka Canadians), and magical trinkets.
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Comments

  • RocketDogRocketDog Posts: 621 Silver ✭✭✭✭
    Both of my wire transfers ended up in my Goldmoney Holding this morning. Fortunately the price of gold plummeted at the end of last week, and my money was right on time to scoop up some bargain gold! The dwarves at Gringott's Toronto are stacking my gold as we speak!
  • GoldmattersGoldmatters Posts: 3,784 Admin
    Thanks for the follow up @RocketDog
  • ReallylikecryptoReallylikecrypto Posts: 46 Copper ✭✭
    Sounds like fun! Here might be another useful method for some users;

    I sent a small amount of Bitcoin Cash with Bitpay. It worked pretty quickly, like 5 minutes or so.

    1.Open up a Coinbase account and a Bitpay account.

    2. Open up a Coinbase Pro trading account linked to your Coinbase wallet.

    3.Set up ACH to Coinbase with a linked bank account.

    4. Make an ACH deposit of some Fiat to the Coinbase Pro trading account (FREE.)

    5. Purchase Bitcoin or Bitcoin Cash at the market rate with a very low fee opposed to buying through the Coinbase wallet.

    5. Withdraw your coin to the Coinbase wallet.

    6.Send coin to Bipay wallet from Coinbase wallet.

    7. Fund your verified holding with coin sent from your Bitpay wallet.

    8. Buy metal.

    9. Phew, (good God can GM just make ACH available to fund my bloody holding, please?)

    Enjoy!
  • RocketDogRocketDog Posts: 621 Silver ✭✭✭✭
    Thank you @Reallylikecrypto. I NEVER would have figured that out by myself. I'll have to print out those instructions. ACH would be easier.
    But, one of bank accounts just put new restrictions on their ACH transfers. They have limited how much money you can transfer each day, and they have limitations on what other types of accounts you can transfer to. Something is fishy with ACH.
    Is this a "follow the money" tactic? Are they trying to reduce their liability to track financial fraud? Are they trying to reduce the impact of a run on the bank in the event of a negative monetary event? Are they just down on customer service these days?
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