Overseas Bank won't accept wire transfer via transfermate

[tecate]

As per the thread title, I used transfermate to transfer usd via international wire transfer. The beneficiary's bank rejected the incoming transfer on the basis that they will not accept incoming transfers via a third party exchange. The beneficiary has now advised that no bank in their country will accept payment via a third party exchange.

That leaves me stuck with usd in my transfermate account that i simply cant use - despite having paid the fees and exchange margin on. Any ideas on where i could send it? i.e. can i open a usd account here - but then even if that's possible, presumably there will be fees involved? The amount is about usd 5,500.

 

[Lightning]

Yes, you can open a USD account in Ireland. Investec, BoI, AIB, PTSB and others offer USD accounts. Some have no fees. Some pay interest. PTSB USD rates are here.

 

[tecate]

Yes, you can open a USD account in Ireland. Investec, BoI, AIB, PTSB and others offer USD accounts. Some have no fees. Some pay interest. PTSB USD rates are here.

Thanks Ciaran. I thought I had found the perfect solution. I asked transfermate to transfer the money to my Revolut account (which allows me to have euro/gbp/usd balances and spend them via their mastercard debit card. They refused on the basis that compliance said 'they saw mention of bitcoin and cryptocurrency on the revolut website'! For real? I naturally threw my toys out of the pram. They very recently started to offer the option of buying bitcoin (albeit you can't transfer it elsewhere accept spend it) but I had and have no intention of using them for that purpose. They say when challenged that Revolut are not regulated. I don't have the time to go into all that but they appear to be regulated.

In any event, it looks like transfermate will reverse the whole transaction- and whilst it should never come to that, at least I don't lose out any further that way (thats subject to them coming back and confirming same).