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Best Uk Bank for US$ wages pay in? Help
ROnie77
Posts: 2 Newbie
I am currently a Lloyds TSB bank holder, though work abroad and have US$ paid into the account. I am losing alot of money with Lloyds due to fees and need help! Which is the best UK bank to have US$ paid in?
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Comments
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If you transfer funds from a foreign bank account directly to any UK Sterling bank account, you will be subject to your bank’s terrible conversion rates and fees.
You are better off to use a forex broker and have the Dollars transferred to their Dollar account, which they will then negotiate into Sterling for you. I usually use Thomas Exchange, very good rates compared to the banks. It's very easy to set up, just ring/email or call into one of their London offices to register, their website is www.thomasexchange.co.uk.
Whatever you do, dont transfer the dollars directly to a sterling account or you will lose quite a chunk of the value!0
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