Spending dollars?

MrChips

My wife has around $200 in an old US account with Wells Fargo dating from when she was based in the US around 8 years ago. They recently sent her a notice that they would start charging $7 a month for the account which acted as a trigger to close the account and repatriate the funds. However it is proving more difficult than we imagined.

They won't give her online access as she lives overseas so she can't transfer it out electronically. They will charge her $25 to send her a cheque book so writing herself a cheque is disproportionately expensive, and the charge is $20 to send her a cheque for the balance in her account (which they will only do if she fills in a form, writes them a letter and pays to get it notarized!).

In the end they agreed to send her a new debit card for free, giving her the option to spend the money or withdraw it from an ATM. We are now wondering about the best (moneysaving)way to access the money once the card arrives. Would a bureau de change allow her to purchase dollars by debit card and pay in dollars? We don't mind getting dollars in cash as she has a dollar denominated account in the UK.

Any other bright ideas?

pvt

If you buy dollars at a UK based BdC then they will chanrge you in Sterling. Which in turn will be converted by Wells Fargo back into dollars at their exchange rate. So you'll lose on two exchanges.

Why not just use the card to do some grocery shopping in the UK? Or use it to put funds on a PayPal account for future use.

MrChips

Thanks. I am considering the grocery option, although there would be fees associated with transacting in sterling. Paypal sounds like a good alternative.