Paying closing fees from UK to title Magic Vacations

[Tiggeroo1964]

Hi Guys
Super excited as received closing documents yesterday a week after passing ROLF I asked previously who Who people use but seem stuck with my bank Halifax, before I send and end up with an exchange rate of 1.22 for sending $23500 can anyone share who they have used from UK for this amount..... Thanks

 

[Cyberc1978]

Hi Guys
Super excited as received closing documents yesterday a week after passing ROLF I asked previously who Who people use but seem stuck with my bank Halifax, before I send and end up with an exchange rate of 1.22 for sending $23500 can anyone share who they have used from UK for this amount..... Thanks

can’t remember if it was you who asked if it was then maybe I have already answered.

I have used Revolut to transfer the money. They are from the UK. Otherwise you can just use your regular bank to wire the money. In my country the banks don’t add anything to the exchange fee rate when wiring money. Only when you use a credit card do they add 2% to the exchange rate.

 

[ahward]

I have been researching this as I am going through the same company. They don’t accept ACH transfers which the majority of the companies such as revolut use. I found currencies direct to be one of the best and providing that you tell them before hand they will set it up for you as a wire transfer. There is no exchange fees and the date is only 0.005 less than the real rate. Let me know and I can send a referral and we both get £50 amazon voucher.

 

[Royal Consort]

Hi Guys
Super excited as received closing documents yesterday a week after passing ROLF I asked previously who Who people use but seem stuck with my bank Halifax, before I send and end up with an exchange rate of 1.22 for sending $23500 can anyone share who they have used from UK for this amount..... Thanks

Congratulations!! Personally I think ROLF sounds so much better than ROFR.

I am buying internationally also and recently passed ROLF myself The title agency is also Magic Vacation Title. They've been super prompt but very difficult to work with regarding the transfer of money. Essentially they pretty much only accept a transfer from your bank as all other avenues I've looked at like transferwise or XE send money through ACH and the title agency advised that they WILL NOT accept this. Grr. Alas, I'm just going to have to use my bank which costs a bit more but at least it's a simpler transaction.

I found currencies direct to be one of the best and providing that you tell them before hand they will set it up for you as a wire transfer. There is no exchange fees and the date is only 0.005 less than the real rate.

I've had a look but their site isn't very forthcoming with detailed information. It seems you need to set up an account before you can see their currency exchange rates. Have you used them before or just investigating them at this stage? I get a bit concerned that they will not do it properly through a wire.

 

[ahward]

Congratulations!! Personally I think ROLF sounds so much better than ROFR.

I am buying internationally also and recently passed ROLF myself The title agency is also Magic Vacation Title. They've been super prompt but very difficult to work with regarding the transfer of money. Essentially they pretty much only accept a transfer from your bank as all other avenues I've looked at like transferwise or XE send money through ACH and the title agency advised that they WILL NOT accept this. Grr. Alas, I'm just going to have to use my bank which costs a bit more but at least it's a simpler transaction.



I've had a look but their site isn't very forthcoming with detailed information. It seems you need to set up an account before you can see their currency exchange rates. Have you used them before or just investigating them at this stage? I get a bit concerned that they will not do it properly through a wire.

I haven’t done it before but I was on the phone to them a few weeks ago about it they are a UK based company which helps. I recommended them on a Facebook group for someone and they were successful.

 

[macman123]

I have a HSBC US$ currency account and just used that to send it.

 

[Tiggeroo1964]

Macman123 Sounds good how does this work?

 

[katie3008]

We used Revolut when closing (with Jeffrey Sweet) and had no issues at all. Their FX rate was competitive versus the banks in Ireland also.

 

[Cyberc1978]

We used Revolut when closing (with Jeffrey Sweet) and had no issues at all. Their FX rate was competitive versus the banks in Ireland also.

Without knowing how banks operate in Ireland I assume that it’s comparable to my country Denmark. Here banks uses the interbank exchange rate which changes all the time. Each day at around 02pm an average it set and then used for wire transfers.

That rate is however not used for any credit card payments.

Also my bank have never charged me a fee for the wire transfer it self. However all intermediate banks which receives the transfer on behalf of actual receiver bank might charge a fee(US banks) that fee varies from $40-70.

Dont know if the same banks charges a fee for domestic transfers too if they do I don’t understand why people continue to use them. IMO domestic transfers should be 100% free and available instantly on the receiver account.

 

[Tiggeroo1964]

We used Revolut when closing (with Jeffrey Sweet) and had no issues at all. Their FX rate was competitive versus the banks in Ireland also.

Was this to magic vacations?

 

[Tiggeroo1964]

Update , Revolut use ACH route so just sucked it up and sent via Halifax today , trying not to think about crappy exchange rate
On a positive note we’ve done it and now looking forward to our first welcome home

 

[katie3008]

Was this to magic vacations?

No, it was no Jeffrey Sweet.

congrats on the purchase!!

 

[macman123]

Macman123 Sounds good how does this work?

I trade shares on the US stock market. Instead of taking money out in US$ and converting to £, I just keep it in $

Thats how I paid for my DVC.......

 

[Thegoatfeeder]

Don’t suppose anyone knows if First American accept payments that use ACH? Not wanting to have to send the money directly from my bank....

 

[Rossi2k2]

Don’t suppose anyone knows if First American accept payments that use ACH? Not wanting to have to send the money directly from my bank....

Yes they accept ACH payments I emailed them to ask and they told me they didn't. But then I saw on the first american trust website that they recommend using transferwise to send money to them. So we sent the whole balance by transferwise with no issues, only took just over a day to process First American even provide you with the routing number you need for ACH payments, so I don't know why they told me they didn't accept that payment type.

 

[Royal Consort]

Just an update on tranferring using Magic Vacation Title. I used the suggestion earlier in the thread to use Currencies Direct. They followed up with me via phone to check details and sent the payment via wire but you need to speak to someone as you can't send a wire online. Title company received the funds within a business day. It ended up significantly cheaper than using my bank with its terrible exchange rate. In the end, really positive experience with Currencies Direct.

 

[Beachbaby74]

Just an update on tranferring using Magic Vacation Title. I used the suggestion earlier in the thread to use Currencies Direct. They followed up with me via phone to check details and sent the payment via wire but you need to speak to someone as you can't send a wire online. Title company received the funds within a business day. It ended up significantly cheaper than using my bank with its terrible exchange rate. In the end, really positive experience with Currencies Direct.

Hi Royal Consort... I am about to use Currencies Direct as I read your post above recommending them. We have also just bought resale and need to wire transfer to Magic Vacation Title. I can say that you recommended me - I just need your name! Thanks xx