If you are from US, you can engage several service providers beyond banks to transfer money from US to Portugal for the purpose of investing in golden visa program. You can get best exchange rates and low fees.. All the bank wire models assume USD wire, with conversion into EUR at Bison bank.
Wise
|Time: 1 day
Currency: EUR
Timing: fees – they charge 0.36%-0.4% + $4 wire fee which is over $1600 in fees.
OFX
Currency: EUR
Timing: Took over 6 days + ACH transfer time of ~1 day
Costs: bad exchange rate
Interactive Brokers
Currency: EUR
Timing: About 5-6 days to complete the transfer – It can take about 3 days of withdrawal hold (assuming wired funds) and 2 days of currency trade settlement time .
Costs: This was the best by FAR of the total cost and exchange rate. There is a $2 trade fee for the currency trade, plus 1€ fee for the SEPA transfer (1st transfer each month is free)
Chase
Timing: 15 days
Costs
Depends on your relationship level with them – $0 to $40. There are intermediary bank charges that seem to be roughly $20-$22
HSBC
Currency: USD
Wire Instructions
Timing: 15 days
Costs: Depends on your relationship level with them – $0 to $40. There are intermediary bank charges that seem to be roughly $20-$22
Vanguard
Currency: USD
Timing: 15 days
Costs: Depends on your relationship level with them – $0 to $40. There are intermediary bank charges that seem to be roughly $20-$22
Exchange Rates
MidMarket
Wise 0.8451 0.8456
IBKR 0.8463 0.8462
Bison 0.8439 0.8465
OFX 0.8212 0.8467Source/Date: NomadGate
