Hi everyone,
I’m an Indian resident who recently opened an account with Alpaca. While the account opening process went smoothly, I’m facing significant challenges when it comes to transferring funds.
The only available option Alpaca provides for funding is through international wire transfer. To comply, I visited several reputable banks near me, including HDFC Bank, Axis Bank, and ICICI Bank—all of which are well-known and nationally recognized. However, they informed me that Alpaca Securities’ bank account with BMO Harris Bank is blocked, and as a result, they cannot process the wire transfer.
I also tried using Wise, but encountered the same issue. Wise indicated that the funds couldn’t be remitted for investment purposes.
Is anyone else facing a similar issue? If so, how did you resolve it? Any advice or alternative solutions would be greatly appreciated!
The other options I can think of is to route money from a different person Friends and families who has a US bank account but, I think it wont be acceptable by Alpaca.