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POUNDS to DOLLARS
Comments
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Yes I want to purchase something in USA later this year,(approx £75K) so was hoping to take advantage of the good rates at present circa US1.95 to £1.
I've recently opened a US bank account to receive the money when I convert it, so I'm just trying to understand the best ways to convert the money and send it to USA. The downside of converting at a good rate and holding it in USA is the interest rates. 0.3% in US compared with 5%+ in UK.
Have you considered opening a savings account with the offshore UK banks?
E.g. http://www.alil.co.im/us_dollar_savings_account.asp
2.2% interest on USD balances over $50,000. You can deposit in sterling. And then transfer the money electronically when you want to make your purchase.
Worth considering?0
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