What is the cheaptest way to funding account via transfer wire for non US

Getting Started with Alpaca
1

can I use crypto to fund a stock account?
Is there any service, API or app recommended to eliminate transfer wire fees?

2

I also have the same question about funding a stock account using crypto. I think it is possible but I haven’t tested it yet.

Your best bet would be using a Wise account (which used to be TransferWise) and funding via ACH. The fees are minimal and it’s fast (clears next business day).

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3

wise is still too high fee for me 7.10$+ if you know how to do this cheaper?

4

It’s free if fund via ACH.

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5

where are you using to open an ACH account as non-US ??
I thought many banks are requirement a Social Security Number.

6

Nope, Wise <> Alpaca uses Plaid which doesn’t need an SSN to use ACH.

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7

can you explain this step more, please?

8

Okay, I think I know where we’re getting confused. I assumed that your Wise account was already funded in USD. I get paid in USD from a US company, so the fees when depositing into Wise are free for me.

Then I log into Alpaca and link my Wise USD account using Plaid which transfers funds into Alpaca from Wise for free.

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9

Hello! Mahmoud here from Alpaca.

We have a solution for international funding with CurrencyCloud (International Transfers in the Dashboard) - this solution is cheaper than wire (and depending on your country even faster!)
You can deposit in your local currency and we take care of the FX conversion and deposit the funds in USD into your account.

Screen Shot 2022-10-07 at 11.41.22

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10

I don’t see International Transfers in my dashboard both in the new/old UI
I see Local Deposit ** does not include my country, but instead International Transfers .

11

Same for me. I’m in Australia, but all I see is an option with an account in GB. Can anyone from Alpaca confirm if this is the case? Do I still need to do an international transfer to an account in GB, and is there no local bank account in Australia?

Screenshot 2023-04-11 at 10.33.09 am
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12

Have you found out how to deposit from an Australian bank? Are there extra commissions ?And what was the recipient currency ?

13

found it on the old UI(which can be found by clicking the settings icon on the bottom left of the left nav bar and then selecting the option “switch to old UI”), but it’s still 1.5% with a max of 40 euros, which, at least for me is still too much