I tried wise some time ago. I wanted to send Euros to them, convert it to USD and then send it from my wise account to an American Bank account.
To my dismay, I found that wise doesn't do Swift transactions in USD to bank accounts in the USA. I actually thought that was the whole idea behind wise, but apparently not?
The other option was to pay my bank an additional 40€+ fee for each Swift transaction, which is too much if you need to wire money every month to the states. USDC was the cheapest option in the end (Coinbase doesn't charge for SEPA -> Coinbase and the EUR/USDC exchange rate is closely tracking EUR/USD).
I would agree that >99% of the tokens and cryptocurrencies are garbage. But I would be sad to see Bitcoin and Monero dying.
German Bank -€-> Wise - convert Euro to USD -$-> US Bank.
German Bank to Wise is a SEPA transfer. That worked fine. But it didn’t allow me to send USD to a US bank (only Euros/other currencies). ACH is only available from within the US on wise(?).
Yeah, I don’t know why you’d want to use Swift, as that’s more an international rail. ACH or Wire are the standards inside the US, along with some of the newer proprietary stuff like Zelle.
I get something like that if I'm trying to send Euros from my Wise account (and there's an "Inside Europe"/"Outside Europe" toggle). Are you able to exchange your EUR to USD within Wise first?
To my dismay, I found that wise doesn't do Swift transactions in USD to bank accounts in the USA. I actually thought that was the whole idea behind wise, but apparently not?
The other option was to pay my bank an additional 40€+ fee for each Swift transaction, which is too much if you need to wire money every month to the states. USDC was the cheapest option in the end (Coinbase doesn't charge for SEPA -> Coinbase and the EUR/USDC exchange rate is closely tracking EUR/USD).
I would agree that >99% of the tokens and cryptocurrencies are garbage. But I would be sad to see Bitcoin and Monero dying.