Large Payment in USD... whats the best method

Bob_uk

Hi all,

I will be making a large purchase from the US in the next couple of weeks (~$7000usd) and I would like to know what is going to be the best method to pay, should I set up a USD bank account, stick with my current bank or is there another method out there that will get me the best exchange rate?

I get a 1.5% discount if I pay via bank transfer which is available via my bank for a small fee (£30) but im not sure how good the exchange rate will be. Even a slightly better exchange rate will make noticable savings.

Thanks in advance!

Olipro

Bob_uk wrote: »

Hi all,

I will be making a large purchase from the US in the next couple of weeks (~$7000usd) and I would like to know what is going to be the best method to pay, should I set up a USD bank account, stick with my current bank or is there another method out there that will get me the best exchange rate?

I get a 1.5% discount if I pay via bank transfer which is available via my bank for a small fee (£30) but im not sure how good the exchange rate will be. Even a slightly better exchange rate will make noticable savings.

Thanks in advance!

that's large enough to use a currency broker, the added benefit is that they (should) be able to pay the beneficiary via a domestic US transfer, just check what sort of proof they can offer that they made the payment.