Alternate Wire Transfer Solution FAQ-

International customers can always go to their bank to make a wire transfer, but for those customers who do not already have an ON-LINE wire transfer solution we have found a firm that accepts online credit card trasnactions that will save you a trip to the bank. The firm's name is Custom House, and they specialize in foreign currency transactions (including wire transfer and currency exchange). Their published rates for their services are quite reasonable.

Their Custom House Online foreign exchange product seems to be the right tool for you. This would allow you to book your transaction from home or at the office. When you book transactions online, you will be able to lock in a live market rate. This ability gives you real time control over the rate you will receive. There is no sign up fee, no processing fees, and no commitment to book transactions, making this a cost effective way of exchanging your funds.

For any transaction being made we will require funds to be sent to us either by:

Bill Pay/Online Banking
In Canada, bill payment is available through most major banks and credit unions. In the UK, banks offer BACS online payments. In Australia, this service is called BPAY.

Electronic Funds Transfer (EFT)
Choosing this payment option directs us to automatically withdraw the payment from a bank account held by you or your business in the currency you are converting from. Before you can use EFT for an account, you must complete and sign an authorization form allowing us to debit funds from that account.

Wire Transfer
Wire transfers are the fastest method of sending funds. To use this option, you must initiate a wire transfer through your bank. The funds must be sent via an account held by you. Wire instructions will be provided to you upon request. Note: We cannot accept payment by cash or check.

Also, when we complete the currency exchange and need to forward the converted funds, we can do this either by EFT or wire.

There will be benefits to each type of transaction. I have listed some key information in a chart listed below:

EFT to EFT: Approx. 3 – 7 business days to complete (Free transfer - Only USD and CAD accounts in USA or Canada)

EFT to Wire: Approx. 3 – 5 business days to complete (Free incoming to Custom House; 15-20 USD Wire fee to send to recipient)

Wire to EFT: Approx. 1 – 5 business days (Bank will charge a Wire fee; Free to send to recipient)

Wire to Wire: Approx. 1 – 4 business days (Bank will charge a Wire fee; 15-20 USD Wire fee to send to recipient)

In order to take advantage of this you will need to sign up for an online account. Please follow the link provided:
http://www.customhouse.com/signup/ch255dg/ 

Once your online application is complete, we will contact you via email to set up a brief telephone conversation in regards to the amounts and frequencies of the transactions. Also, our compliance department requires us to gather 2 pieces of identification and bank documentation before any accounts are activated.

If you have any further questions please feel free to contact us again.Customer service staff can be contacted 24 hours a day, beginning Sunday at 3:00pm PST to Friday at 3:00pm PST (GMT -7). Weekend staff can be contacted Saturday from 7:00am PST to 3:00pm PST (GMT -7).

Best Regards,
Custom House Online Services

517 Fort Street | Victoria, BC, Canada | V8W 1E7
Email: online@customhouse.com
Phone 250.412.1461, Option 1

Toll Free 866.494.2423, Option 1 (U.S. and Canada)