0risk
Member of DD Central
Posts: 217 
Likes: 202
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Post by 0risk on Oct 4, 2017 21:49:25 GMT
Just a tip: if you are overseas, you can use Transferwise to transfer directly to your home account. I have been trying for several days to initiate an overseas transfer from Lendy, and have been having an increasingly difficult time. When you select "International withdrawal" on the Lendy website, there is a form to be completed, and the only field that allows for account information to be transferred to is an IBAN field. None of my US banks have IBAN numbers. I have checked with my local bank and also with my investment bank (Fidelity). Fidelity has a swift code, but there is no way for a swift code to be provided on Lendy's form. When I have contacted them about this, I get a generic answer with a link to the FAQ which doesn't help me. On Transferwise (which I used successfully to deposit money into my Lendy account), I must fund the transfer by contacting my originating bank and asking them to transfer the money to Transferwise. I don't have any of this information for Lendy. What am I missing? I appreciate any help anyone can give me, and if someone can tag Paul, I would also be appreciative. Thank you. I'd like to know how this will be sorted out. So far I have only used Transferwise to fund my account, but not for withdrawals. I also used an American bank, and they don't have an IBAN number also.
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Post by alistairb on Oct 5, 2017 9:06:02 GMT
To make a transfer to a US bank account you would need to supply your account number and the bank's SWIFT code, and possibly name and address.
IBAN is not used in US yet, only in Europe and some African and Mid East countries.
If Lendy cannot do this, then another possibility would be to open a Transferwise Borderless account in GBP and USD if you are resident in one of the states that allow it. Lendy can add your GBP account to the drop down list and you can transfer in USD direct to your normal bank account or via the Borderless USD account if you so wish.
I have received withdrawals from Lendy in GBP to my Borderless account as mentioned earlier in the thread.
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Post by therealmccoy on Oct 5, 2017 12:55:57 GMT
To make a transfer to a US bank account you would need to supply your account number and the bank's SWIFT code, and possibly name and address. IBAN is not used in US yet, only in Europe and some African and Mid East countries. If Lendy cannot do this, then another possibility would be to open a Transferwise Borderless account in GBP and USD if you are resident in one of the states that allow it. Lendy can add your GBP account to the drop down list and you can transfer in USD direct to your normal bank account or via the Borderless USD account if you so wish. I have received withdrawals from Lendy in GBP to my Borderless account as mentioned earlier in the thread. I am unsure what you mean by the drop down menu where you can add the GBP Borderless account info. I have created such account, but...when you click on "UK withdrawal", they ask you to make a deposit from that account into Lendy first before they can set up a withdrawal for you. My Borderless account does not have funds nor do I want to fund it and add more money into Lendy just to be able to make a withdrawal of my money. It should not be this difficult to make a withdrawal. It should be just as easy as making a deposit. I am frustrated!
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Post by alistairb on Oct 5, 2017 13:22:19 GMT
You are correct as Lendy say your account will appear after you make a deposit using it. In the case of the Borderless account this has to be done manually as deposits show as coming from Transferwise, not from your personal account. You have to send them details of your account. I used the submit a query form and uploaded a screen shot showing my account details and profile. They now have experience of how to handle this so it should not take too long to get it done. On the withdrawal page I can now choose my original normal bank account or the Borderless one. Hope this helps. AB
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Post by therealmccoy on Oct 5, 2017 14:50:59 GMT
You are correct as Lendy say your account will appear after you make a deposit using it. In the case of the Borderless account this has to be done manually as deposits show as coming from Transferwise, not from your personal account. You have to send them details of your account. I used the submit a query form and uploaded a screen shot showing my account details and profile. They now have experience of how to handle this so it should not take too long to get it done. On the withdrawal page I can now choose my original normal bank account or the Borderless one. Hope this helps. AB Brilliant!!! Thank you so much. Super helpful. I did exactly what you said, and waiting to hear back from them now. This would make my life so much easier if it works. I really appreciate it 
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Post by alistairb on Oct 5, 2017 15:37:45 GMT
Glad to be of help. However don't hold your breath waiting for a reply from L! They made the change for me without informing me. I checked the UK withdrawal page after a few days and saw I had a choice of accounts.
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0risk
Member of DD Central
Posts: 217
Likes: 202
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Post by 0risk on Nov 22, 2017 0:48:11 GMT
I did a withdrawal using Transferwise to an American bank and it went great.
I put the Swift code instead of IBAN and opened a support ticket explaining the situation.
(I had previously used this account to fund Lendy before -- I think this helps security concerns).
Lendy support was very fast and did exactly what I needed. Transferwise took a few days more.
The whole process took about 6 days.
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