Two weeks ago, I opened an account with XE to transfer funds from my US bank to an individual in France–$5,000 to buy a car. After a week, I received an email from XE that the trade couldn’t be made because my account could not be located. The bank, Chase JP Morgan, has many branches and i thought perhaps I’d used the wrong routing number i notified my branch, made sure the information was correct and tried the transfer again. Yesterday I again received the message from XE that the account could not be located.
I don’t understand what’s happening between XE and Chase – obviously the accounts and the money are there --but at this point I just want to transfer the money without further delay. I don’t have a French bank account, but wondered if I went into a bank, say Credite Agricole, I would be able to make a transfer in person. I realize the fees are high, but I’m so frustrated at the moment that I just want to resolve the matter. Or is there a better way to go about this? Other ways to make a speedy, less problematic transfer? Any advice would be greatly appreciated.
I've heard good things about XE trade which is why I chose them initially. Possibly the resulting problems were the fault of my bank. Still something I have to work out.
Thanks for the warning, Marie-Antoinette, I'm sure there are scams going on. This one is quite legitimate, I've met the seller--in fact I met her through Survive France!--and all is in order. I'm just sorry for the delay I've caused her in this whole matter.
Hi all, many thanks for the feedback and my apologies for the delayed response, I've been out of town. I've since been in touch (again) with my bank and will probably have to just transfer from there to the seller's bank. More expensive, it seems, than going through XE but that's the way it goes. I guess this is all part of the initiation process of learning to live in another country.
Janice you would need the bank account details of the person you are transferring the money to, if I have understood your post correctly you want the money to go direct to them and not to yourself. If it is for yourself you need a French bank account.
Janice, i use XE every month to transfer our money and have been using them for nearly 4 years, never had a problem and they are consistently the best rate around for smaller monthly amounts.
Janice I just went to look in our house purchase paper work and the transfer of money we made 7 years ago was with XEtrade, is that the same company you are making the transfer with?
Marie-Antoinette
Janice, I hope that the buying of the car isn't a scam there are so many going on with phoney cars being advertised on the Internet. Sorry I am not of greta help in regard to the money transfer.
We transfered 7 years ago money from our US Credit Union to a French bank and all went well, we had all the informations needed and it went fairly fast, I can't remember who we used, but I wouldn't use them again because instead of going from the US to France, it went from the US to Canada, so one change US dollars to Canadian dollars, and after that Canada to France so again a change Canadian Dollars to Euros, they dinged us twice for change and never said it would go to Canada first, the office I contacted was in New York, so how was I to know it would all go via Canada...
I hope someone has an answer for you.
Marie-Antoinette
OP?
The person you're trying to send the money to must have some sort of bank account?
Western union?
Can you not just make an international transfer direct from one bank to the other, cuts out the middle man so is a lot quicker, you don't get quite as good a rate but if you're in a hurry that's what i would do.
Or send it via paypal.
Good luck, French banks are a nightmare.