Transfering Money
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AirForceOne
Posts: 1 Newbie
Hi
Not sure if this is the correct thread for this...
I have money sitting in a US bank account from the sale of a property and I want to transfer it back to my UK Bank account. I bought the property 10 years ago but with the US market crashing I couldn't sell as I would have lost a lot of Money. Now, with the exchange rate in my favour I've sold up and just want to get my cash back home. I haven't made any money just about broke even really. So any advice on my issue would be greatly appreciated. I would be using someone like HiFX to transfer the money.
Not sure if this is the correct thread for this...
I have money sitting in a US bank account from the sale of a property and I want to transfer it back to my UK Bank account. I bought the property 10 years ago but with the US market crashing I couldn't sell as I would have lost a lot of Money. Now, with the exchange rate in my favour I've sold up and just want to get my cash back home. I haven't made any money just about broke even really. So any advice on my issue would be greatly appreciated. I would be using someone like HiFX to transfer the money.
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Comments
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AirForceOne wrote: »So any advice on my issue would be greatly appreciated. I would be using someone like HiFX to transfer the money.0
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HIFX might not offer the best rates. Use a comparison site such as https://www.fxcompared.com/
I have used Transferwise myself several times and am very happy with them.
You don't say how much money is involved but it sounds as if it could be a larger sum. In which case it might be prudent to split the transfers into smaller packets as I don't think any of the transfer firms are part of any protection scheme. Also worth advising your receiving UK bank that a larger amount(s) is about to land so they don't block your account for money laundering investigations. Hopefully you do have money in a second current account anyway.0
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