How to invest in Vanguard (from SA) when not a US citizen or resident?

rvZA

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Ok so was the R327 for the $20.88 transfer? That said, that is a cheap way of transferring $100, but it will hurt you on larger amounts. Because the rate on 26Nov was R15.23 and your rate was R15.66 based on the above.

Yes, for higher amounts, let's say $500, $1000, $5000 and upwards, it would just more sense to do the wire transfer through FNB directly to your trading account. But, for smaller amounts you have laying around and do not want to wait, Transferwise is by far the most affordable option to get your funds abroad.

I was just trying to make the point that you can indeed get smaller amounts over more cost-effectively than using local banks.
 

Lukcydog

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Yes, for higher amounts, let's say $500, $1000, $5000 and upwards, it would just more sense to do the wire transfer through FNB directly to your trading account. But, for smaller amounts you have laying around and do not want to wait, Transferwise is by far the most affordable option to get your funds abroad.

I was just trying to make the point that you can indeed get smaller amounts over more cost-effectively than using local banks.
Sure, agreed.
 

JayM

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There is NO cheap way to transfer $100, irrespective of who you use (stupid tax is what you're paying for transferring $100)

Would you show your all in fees on FNB so I can compare? According to the FNB price guide:
- 0.55% (min R295, max: R650), which is still significantly more than the $14 fee on shyft

I usually send out R250K at a time, so the fee is always capped at R325 (you get half back in eB). Then add the currency spread (between 0.95% and 1.00%, depending on the amount), and that's the total fees. So yes the fees are higher, but Shyft's spread is usually considerably higher than 2%, which makes them not worth it.
 

Lukcydog

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I know this article, have you looked at the calculator (link below referred to in the article) on that website as the article is out of date and doesn't cover Shyft's costs (0.6% spread, its usually 7/8c on the spot rate).

 

JayM

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I know this article, have you looked at the calculator (link below referred to in the article) on that website as the article is out of date and doesn't cover Shyft's costs (0.6% spread, its usually 7/8c on the spot rate).


I know someone who uses Shyft, and the spread for them has always been above 2%. Where is this 0.6% advertised, as they'd like to complain about getting an unfavourable rate?
 

DarkImpact

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I know someone who uses Shyft, and the spread for them has always been above 2%. Where is this 0.6% advertised, as they'd like to complain about getting an unfavourable rate?
Screenshot_20210109-170308_Shyft.jpg

Current rate on Shyft.
 

Lukcydog

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I know someone who uses Shyft, and the spread for them has always been above 2%. Where is this 0.6% advertised, as they'd like to complain about getting an unfavourable rate?
As far as I remember, Patrick contacted Shyft and asked them what the spread was.
 

JayM

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As far as I remember, Patrick contacted Shyft and asked them what the spread was.

If it has changed from 2% then it's definitely worth looking at. What current rate are you being quoted?
 

wonduhboy

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I finally managed to open my TDA account.
I already have a few stocks (around 4) in my EE USD account- is it worth transferring these to my TDA account?
 

rvZA

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I finally managed to open my TDA account.
I already have a few stocks (around 4) in my EE USD account- is it worth transferring these to my TDA account?

You can't transfer them to TDA. You can sell them, pay the money to your bank account and repurchase them in your TDA account again.
 

wonduhboy

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You can't transfer them to TDA. You can sell them, pay the money to your bank account and repurchase them in your TDA account again.
Thanks, maybe I was wrong.
But then what does this FAQ on their site refer to:

How do I transfer my account to another broker-dealer?​

A fee of $25 per counter will be charged for the transfer of Whole Securities of US-listed instruments to another FSP, as set out in the USD Cost Profile.​

 

ActivateD

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Hi everyone

I have been trying to transfer money into my TD Ameritrade account using the FNB global account.

I was using the wire transfer instructions contained on this PDF https://www.tdameritrade.com/retail-en_us/resources/pdf/TDA4876.pdf but the FNB system is asking me for the following:

My Ref: TD Ameritrade
Their Ref: My TD Ameritrade account number
BIC/SWIFT Code: FNBOUS44XXX
Account Number: 16424641 <--- number to credit for TD Ameritrade Clearning Inc.
Branch/Routing/IFSC Code/Fedwire: 021912915 ( got this from google)
Physical Address: 1620 Dodge Street
Suburb: (FNB want this but I dont see it anywhere in the PDF)

The system tells me the BIC/Swift code and Branch/Routing/IFSC Code/Fedwire are not correct. Has someone got clear instructions for FNB global account to EFT the money.
 

mugikhan

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Dec 5, 2013
Messages
449
Hi everyone

I have been trying to transfer money into my TD Ameritrade account using the FNB global account.

I was using the wire transfer instructions contained on this PDF https://www.tdameritrade.com/retail-en_us/resources/pdf/TDA4876.pdf but the FNB system is asking me for the following:

My Ref: TD Ameritrade
Their Ref: My TD Ameritrade account number
BIC/SWIFT Code: FNBOUS44XXX
Account Number: 16424641 Branch/Routing/IFSC Code/Fedwire: 021912915 ( got this from google)
Physical Address: 1620 Dodge Street
Suburb: (FNB want this but I dont see it anywhere in the PDF)

The system tells me the BIC/Swift code and Branch/Routing/IFSC Code/Fedwire are not correct. Has someone got clear instructions for FNB global account to EFT the money.

This is what I use. Reference is your account number at TDA.

824435c1f1921a429e029d4f2cc8f2db.jpg
 

wonduhboy

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May 12, 2008
Messages
431
I'm trying to transfer from Shyft to my TDA account - but I cant find bank details in TDA. Wants me to connect my bank account with TDA...
What am I doing wrong?
 
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