Help..how do I transfer money out from American bank??

Dove22

We have spent ages online with Bank of America, basically there is no way they can help us get our money back.

History: We set up the account when we were in Florida a year ago with a view to purchasing a rental property and possibly working out there (glad we didn't now!). Now we've decided not to, we want to transfer our money back and close the account.

Bank of America tell us that we can only arrange a wire transfer in one of their branches and there aren't any in the UK!

We have a dollar account with Anglo Irish Bank in the Isle of Man and have yet to contact them to see if they can request the money.

Western Union said we couldn't send money to ourselves because it would be considered money laundering!

We know we probably picked the wrong bank in the first place:o . There must be some money savers out there with property or business in the US who bring money regularly back the UK - can anyone help?

Many thanks.

shoe_girl_2

i dont have a american bank account, but can they not do a swift payment? its kinda like a BACS but its for overseas (im not sure if they call it a swift a swift over there)...

Youll need to get your swift code (also goes by BIC code - i think, check it out before you do it) from your bank account over here

debsy42

Bank Of America

1 Alie Street
London, Greater London, E1 8DE
(020) 7634 4000

or found this one

Bank of America NT & SA
Tel: (020) 7174 4000

5 Canada Sq, London, E14 5AQ (which is Canary Wharf)

Dove22

No they won't do a swift payment even though we have all the details. The branches in London are for commercial customers only! We called them and they couldn't help!

Mrs_pbradley936

I have an American Bank account and they are very antiquated! You cannot wire money internationally unless you are there in person with your passport and then you can only wire it to yourself or to a solicitor. Is the amount worth a trip over? Then you could just close the account and take your money in cash.

Mrs_pbradley936

Another way would be to set up a Paypay Account in both places BUT if you are talking about a lot of money they would investigate you for money laundering as well!

System

You have to open up a Citibank US$ here.Then ask for a check (cheque) book from BoA - then write yourself a cheque for the balance, or get them to send you a cashiers check (basically a bankers draft).

Then pay this into your Citibank account here (they clear US cheques free of charge).It will probably take a few weeks all in, but you will have your US$ back in the UK, and rid of BoA

Dove22 wrote: »

We have spent ages online with Bank of America, basically there is no way they can help us get our money back.

History: We set up the account when we were in Florida a year ago with a view to purchasing a rental property and possibly working out there (glad we didn't now!). Now we've decided not to, we want to transfer our money back and close the account.

Bank of America tell us that we can only arrange a wire transfer in one of their branches and there aren't any in the UK!

We have a dollar account with Anglo Irish Bank in the Isle of Man and have yet to contact them to see if they can request the money.

Western Union said we couldn't send money to ourselves because it would be considered money laundering!

We know we probably picked the wrong bank in the first place:o . There must be some money savers out there with property or business in the US who bring money regularly back the UK - can anyone help?

Many thanks.

97trophy

open an account with xe trade.com

they can set up a direct debit via the ACH system. Then you would be able to debit US$ from your BOA account over the web and XE will send you a cheque by post, all done through XE's website.

The only charges are the fx markup in the price.

http://www.xe.com/fx/

Voyager2002

97trophy wrote: »

open an account with xe trade.com

they can set up a direct debit via the ACH system. Then you would be able to debit US$ from your BOA account over the web and XE will send you a cheque by post, all done through XE's website.

The only charges are the fx markup in the price.

http://www.xe.com/fx/

A similar solution: use Fidelity Money Funds. So far as the bank in the USA is concerned, it is a transfer to a bank account in New York: available on-line or by writing a cheque (check) drawn on your account. Once Fidelity hold the money, you can ask them to switch into sterling and transfer it into your UK bank account.