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  • FIRST POST
    • cravune
    • By cravune 19th Apr 17, 1:59 PM
    • 9Posts
    • 2Thanks
    cravune
    Transfer USD back to UK
    • #1
    • 19th Apr 17, 1:59 PM
    Transfer USD back to UK 19th Apr 17 at 1:59 PM
    Looking for advice please

    Have sold a property in the USA and looking to transfer USD back over, have always used HIFX

    My problem is my US bank acount (Wells Fargo) will not provide a wire transfer option with my account as it stands, my only choice is to visit a US notary (assuming London embassy) which will mean they can wire to an account in my name only and No 3rd parties

    My problem is if it comes to a sterling account the rate of exchange will be useless

    I have thought I could open a USD account over here and have transferred to me

    2 questions to make it possibly easier;

    Are there any accounts in U.K. where I could write myself a USD cheque from my Wells Fargo account and clear?

    Failing that, any currency traders that would clear a USD cheque drawn on my Wells Fargo account?

    Thanks a lot
Page 1
    • grumbler
    • By grumbler 19th Apr 17, 2:20 PM
    • 51,388 Posts
    • 21,755 Thanks
    grumbler
    • #2
    • 19th Apr 17, 2:20 PM
    • #2
    • 19th Apr 17, 2:20 PM
    http://www.barclays.co.uk/Otheraccounts/Currencyaccounts/ForeignCurrencyAccount/P1242557963858

    Cheques in all currencies – collection
    • ...
    • £100 and above equivalent – 0.25% of cheque’s value. Min £16 max £40
    Cheques in all currencies – negotiation dependent on foreign bank
    • ...
    • £100 and above equivalent – 0.25% of cheque’s value. Min £9, max
    £60 (plus correspondents’ charge £6 which applies only when
    currency differs from that of the country where the cheque is drawn)
    ...
    ......................................
    We are born naked, wet and hungry...Then things get worse.

    .withdrawal, NOT withdrawel ..bear with me, NOT bare with me
    .definitely, NOT definately ......separate, NOT seperate
    should have, NOT should of
    .....guaranteed, NOT guarenteed
    • eDicky
    • By eDicky 19th Apr 17, 3:03 PM
    • 2,785 Posts
    • 1,210 Thanks
    eDicky
    • #3
    • 19th Apr 17, 3:03 PM
    • #3
    • 19th Apr 17, 3:03 PM
    Can you not open an account with a different US bank that has no such restriction, transfer the funds there, then to a third party such as HiFX..?
    • Heng Leng
    • By Heng Leng 19th Apr 17, 8:26 PM
    • 4,100 Posts
    • 1,254 Thanks
    Heng Leng
    • #4
    • 19th Apr 17, 8:26 PM
    • #4
    • 19th Apr 17, 8:26 PM
    Transferwise (for example) have a US based account that accepts both domestic wire transfers and ACH credits.

    You may find that they have fewer restrictions on payments to other US banks than foreign banks
    • ALH0080
    • By ALH0080 19th Apr 17, 9:38 PM
    • 1 Posts
    • 0 Thanks
    ALH0080
    • #5
    • 19th Apr 17, 9:38 PM
    Swiss Francs to GBP
    • #5
    • 19th Apr 17, 9:38 PM
    advice needed , my son has 5000 Swiss francs which he wants to change back to British pounds. I've looked at currency online group group , which gives best rates, but wary of using it , sending money off in the post etc , any advice ?
    • grumbler
    • By grumbler 19th Apr 17, 10:00 PM
    • 51,388 Posts
    • 21,755 Thanks
    grumbler
    • #6
    • 19th Apr 17, 10:00 PM
    • #6
    • 19th Apr 17, 10:00 PM
    ...my son has 5000 Swiss francs
    Originally posted by ALH0080
    Cash?
    which he wants to change back to British pounds. I've looked at currency online group group , which gives best rates,
    Really?
    http://travelmoney.moneysavingexpert.com/buy-back-results/
    but wary of using it , sending money off in the post etc , any advice ?
    Very amateur website, and, despite showing "we buy" rates they seem to only offer option for buying foreign currency.
    We are born naked, wet and hungry...Then things get worse.

    .withdrawal, NOT withdrawel ..bear with me, NOT bare with me
    .definitely, NOT definately ......separate, NOT seperate
    should have, NOT should of
    .....guaranteed, NOT guarenteed
    • drlabman
    • By drlabman 20th Apr 17, 4:59 PM
    • 216 Posts
    • 30 Thanks
    drlabman
    • #7
    • 20th Apr 17, 4:59 PM
    • #7
    • 20th Apr 17, 4:59 PM
    I've just used Transferwise to transfer USD from my US bank to my GBP account in the UK. I did it by ACH debit i.e. initiate the transfer from the Transferwise website, by giving them my US bank login details (it's secure). They then pull the money from the US account and deposit in the UK. No wire transfer fees. Decent exchange rate. Money arrived in UK next day. Don't know about transfer limits - I guess you're talking a large sum.
    Give a man a fish, and he will eat for a day. Teach him how to fish, and you’ll get rid of him every weekend.
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