Dear Members,
Is there any platform similar to WISE where I can get a US Virtual Account and will be able to use that account to transfer USD from Taiwan?
My primary purpose is to use that platform for shopping payment and transferring money to stock broker platform like Etoro or IBKR.
I tried to get a US virtual account from WISE platform by topping up 20USD. I tried my CTBC Debit Card and it was declined. Later I contacted CTBC, they said Taiwan Govt forbidden the financial entity for this kind of transaction from Card to avoid Money Smuggling.
Paypal also required for a US bank account which I do not have.
How Taiwanese people invest in US stock market? What could be an ideal way to achieve the solution of my problem.
Can you kindly name some Local Brokers? In case of Interactive Brokers like platform the bank requires the person to visit the Bank for wire-transferring the money each time.
Yuanta Securities is the one I am using. However, I don’t use them for overseas stocks, because I believe the commissions are substantially higher. Also I don’t know if they have an English app.
Many of my banks allow me to do online wire transfers for designated accounts. Taishin and BOT are examples. Maybe try another bank?
CTBC bank.
As per them, if my current BANK ACCOUNT Name do not match with the ACCOUNT Name I am trying to remit, they will not add it for online transfer. So for each transfer I need to go to bank, fill out the form and transfer the money.
I requested to add my “Charles Schwab” broker account and I got the above reply.
Your CTBC bank account is in the name of “Avik Sarkar” and your Charles Schwab account is in the name of “Avik Sarkar”, then there is no issue.
If the Charles Schwab account is in the name of “Ashutosh Patel” then you will have more scrutiny, but that’s the same everywhere.
I can transfer from CLxWN, ROOF TOP to INTERACTIVE BROKERS LLC with reference U1x34567 ROOF TOP CLOWN online after having set this up once in the branch.
