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USA Dollar investment into GBP
disillusionedsaver
Posts: 5 Forumite
Hi I have had an overseas investment in US dollars for the past 5 years and all its done is lose $2,000. I want to close it and have the funds transferred into my UK bank account. How do I do this without incurring exchange charges?
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Comments
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You are going to face some sort of FX charge on converting back to Sterling.
If it is a smallish trade the difference will be greater, maybe around 3%. Maybe best to call some FX brokers and give them an idea of how much you need to convert.
I use a few brokers but there is one previously mentioned on here before, Excel based in Kent. They are able to bundle your USD with other peoples and get a better rate. Only downside with that is that you would have to get the USD wired to them before they can provide a fixed quote. Some FX brokers will also deal automatically for you if the exchange rate reaches a target rate you are happy with.0
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