Intl banking

Discussion in 'Professional Trading' started by OHLC, Jul 2, 2002.

  1. OHLC


    Hello all,

    I'm in need of a little advice on banking.
    I use a US broker that can't wire P&l to my French Bank,
    they require a correspondent bank within the US.
    The French banks don't have correspondent banks, they just
    use their FX services to redirect funds in the proper currency.

    So, I'm stuck with requesting checks, and have enough with the large delays, but the worse is the poor mail reliability...

    I'm thinking of having an account opened in the US.
    I looked the Chase online intl accounts, and this seems right.
    But I'm really not knowledgeful on the US choice of banks.

    Anyone with ideas other than Chase ?


  2. gerico


    It's important for your european bank to have a correspondent bank in the US. Many european banks have branchs in the US and they use these branch as correspondent bank.

    Be really careful with international wire transfers. Just try with little sums before.
  3. Aaron


    I've used Citibank for international wire transfers and never had a problem. They've got a French branch. You can find out more about it at

    I'm thinking you could open an account at the French branch and receive wire transfers from your broker into it. Not sure if your broker could do this, but it's a thought.
  4. OHLC


    Thanx Aaron and Gerico.

    Seems like the French branch of Citibank is about to solve my problem.