transfering money to us

mrs_lds

OUr eldest is going to study in the us this autum and we need to tranfer money in her account. Which is the best way now the rate is very much in our favor without incurring big costs.

thanks

iolanthe07

When I did this I found dollar travellers' cheques made payable to my son the cheapest and easiest way, but things may have changed and perhaps you should ask your bank.

EagerLearner

I'd suggest if she's going to be there permanently or for a while, set her up with a Basic Paypal account - https://www.paypal.com - you can transfer with no fee and it transfers instantly. She can collect this money by opening a bank account there (which she should be able to do as she will be living there). She can then transfer Paypal funds into her account at the click of a button.

JohalaReewi

Check out martin's article on the subject...

http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1114428796,22175,

Take a look at using Nationwide products. The Nationwide account + DEBIT card combination can be used for overseas cash withdrawals with no commision or fees and the CREDIT card can be used for purchases with no commision (but don't use it to get cash from an ATM).

Also see this thread...

http://forums.moneysavingexpert.com/showthread.html?t=240793

JohalaReewi

EagerLearner wrote:

I'd suggest if she's going to be there permanently or for a while, set her up with a Basic Paypal account - https://www.paypal.com - you can transfer with no fee and it transfers instantly. She can collect this money by opening a bank account there (which she should be able to do as she will be living there). She can then transfer Paypal funds into her account at the click of a button.

A possible problem here is the cross border commision of 1.5% charged by Paypal. Also, i guess that it would be sterling being paid in, but USD being withdrawn so there will be currency conversion commision too.