Transfer from UK to US bank account

Loopylou1979

I'm sorry if this is not the right place to post this question, but I just wanted to see if anyone could recommend a reliable online source to transfer money from a UK bank account to a US bank account.

Thank you.

malkie76

Do it directly bank to bank - you just need to ask your bank for their international banking number.

catokelly

Loopylou1979 wrote: »

I'm sorry if this is not the right place to post this question, but I just wanted to see if anyone could recommend a reliable online source to transfer money from a UK bank account to a US bank account.

Thank you.

I would not recommend using your own bank to do this because I made this mistake before, in general the banks rates are not very good and they charged £25 for the transfer - and it took about a week and a half for the payment to arrive.

I now use thomas exchange www.thomasexchange.co.uk, their rates are very good (always better than the banks) and they charge a flat fee of £12, or no fee if you are transferring over £5000, they also an even better rate for large payments and the payment usually arrives in 24 hours

benjus

I've used these people a few times: http://www.thefxfirm.com/

Rates seemed very good, and I've had no problems with them.

giruzz

I've used a couple of times https://www.xe.com

giruzz

ERICS_MUM

are these companies "safe" to trust with your money ?

5557223

been using xetrade for a while now and i get good rates plus money in the us account within a day during week.

also, use faster payment here and EFT in states for a fee free transaction

neilbond007

I used TorFX twice. I had no issues. Got a much better rate than bank / bank (and no fees).

Use https://www.sendmoneyhome.org to see what is the best option for you.

ferf1223

ERICS_MUM wrote: »

are these companies "safe" to trust with your money ?

That would be my concern...and while I was a big fan of CCE before they went bust (after 2 years of not using them because there was no protection if things went wrong), it's made me reconsider whether it is really worth losing everything to gain a bit...but I acknowledge that sometimes it may be a calculated risk. I just think that anyone using one of these companies should look into it carefully for themselves and decide if their circumstances warrant any risk that may exist.

ERICS_MUM

ferf1223 wrote: »

That would be my concern...and while I was a big fan of CCE before they went bust (after 2 years of not using them because there was no protection if things went wrong), it's made me reconsider whether it is really worth losing everything to gain a bit...but I acknowledge that sometimes it may be a calculated risk. I just think that anyone using one of these companies should look into it carefully for themselves and decide if their circumstances warrant any risk that may exist.

Exactly.

I suppose if it's a small, one-off payment it might be worth risking it but for larger or regular payments I personally would play safe and use my bank.

Voyager2002

5557223 wrote: »

been using xetrade for a while now and i get good rates plus money in the us account within a day during week.

also, use faster payment here and EFT in states for a fee free transaction

Me too: I have been very happy with their service.

They are owned by Western Union, which is enormous, so I doubt if financial collapse is very likely. Besides, the time they actually hold your money (between funds leaving one account and being sent to the recipient account) is very small, so the chances of things going wrong at precisely that time must be very slim. A big difference from CCE, who asked you to pay in advance so they were holding your money for a considerable length of time before paying.