money transfer from america to the UK

itfgm

Hi,

I live in the UK and I have an account with Halifax. My brother lives in America and wants to lodge £3000 into my Halifax account from his HSBC account in America. Is this possible?

If yes I am sure there are costs involved in completing this transaction. What is the best way for me to receive this money. He has sent me a cheque in the past and it has taken 6 weeks to get through clearing and there were a lot of costs involved. He also sent me money through paypal and there were costs involved in this as well.

Can anyone advise what is the best way to do this?

Thanks
itfgm

equitydealer

I'm not 100% sure, but can't he send you an electronic payment direct from his bank? If he has online banking he should be able to do a transfer using your IBAN number.

http://en.wikipedia.org/wiki/IBAN

Dazza.mk_2

For Europe #2 is correct, but for America IBAN transfers will be hideously expensive (even more than from the UK).

Best to cheque with his bank, as it is part of the HSBC network they may be able to suggest alternatives (one possible being a £ Cheque drawn on an HSBC-UK Account, this should be possible but I don't know the costs)

regularsaver1

Yes he can send you a telegraphic transfer - give him your IBAN number (found on the right hand side on your bank account statements) sort code, account number, address of bank branch

HSBC will inform him of the cost