No. of Recommendations: 1
moneycorp to be almost as flexible as wise...... maybe it will work for you ?
You probably adress me as I was the only one in this thread having talked about problems to exchange & transfer money (via IBKR). Thank you, but my problems are solved, though in a roundabout way. What I can report now, in case it may be of use for others:
A) Very easy and efficient to exchange money held in an IBKR account into whatever currency, EUR, NZD or else.
B) No problem to transfer money (EUR or Crone) into a European account (same for USD and Shekel).
C) Not possible to transfer any other currencies, like in my case NZD into a New Zealand bank account. You can exchange your USD or EUR into NZD --- but IBKR can't transfer them. So one has to
- transfer the original currency to Wise (or MoneyCorp etc.?)
- let them do the exchange into NZD
- and let them transfer the NZD for a fee of 0.48% into the New Zealand bank account.
The whole trip takes close to one week.
Summary: With IBKR you are limited to money transfers in just a handful of currencies. For more "exotic" ones you need Wise or similar (or a bank exchanging the money at one of the two ends, which results in effectively 2% or higher fees).
