Large International Money Transfers Discussion area

vickih_3

Can someone tell me the best way to get my US pension paid in the UK bearing in mind exchange rates and costs. This will be my main pension and I will be at the mercy of exchange rates and will obviously have to have it paid regularly - any help will be really appreciated
vick

inmypocketnottheirs

vickih wrote: »

Can someone tell me the best way to get my US pension paid in the UK bearing in mind exchange rates and costs. This will be my main pension and I will be at the mercy of exchange rates and will obviously have to have it paid regularly - any help will be really appreciated
vick

I would think you really need to find a cheap way of getting US$ to £. This forum is really biased to working the other way around.

I would suggest you start by investigating an account with https://www.citibank.co.uk where you can run a dollar current account and sterling current account along side each other. You can have a visa debit card that can be switched between the accounts on the telephone, and transfers between the dollar and sterling account are done immediately in real time on line. Costs £10 per month and includes an interest free overdraft of £500, worldwide travel insurance, mobile phone insurance and few other almost worthless benefits.

HTH

prosecco_2

Looking at large tfrs from euros to pounds with a few to investments in the uk/ offshore, whats the best way to do this and can you advise of a good investment, on 400,000k house sale. Can you also advise if you think it should be tfrs, to pounds or wait a while longer? thanks:j

StephanieS_2

I'm currently living in London and I frequently send money back home to Canada and to my extended family in the U.S and the Philipines. When deciding which company to use, I visit www.SendMoneyHome.org which is a money transfer price comparison website. This site lists the various money transfer organisations and their associated costs, transaction processing times, etc. I found that the Send Money Home site is a very useful tool and helps to ensure you get the best deal when transferring money overseas.

StephanieS_2

In regards to your question about the "best & cheapest, with the best exchange rate, company to use to transfer this money", you should visit www.sendmoneyhome.org. As I mentioned previously, this is a free site that compares the various ways to transfer money overseas whether your transferring it to Canada or Australia. Hope this helps!

IanWilts66

Bobdewey wrote: »

I'd definitely suggest looking into one of the specialist foreign exchange companies on the market as they are generally much cheaper and dont charge fees.
The Find Currency Brokers comparison site lists most the bigger companies out there and offers the option of requesting some quotes. (www.findcurrencybrokers.com)

We ended up using a broker and got a much better rate on the transfer of our dollars into pounds from the sale of our property in the US. Compared to Nationwide, we had gained almost £2400 from the better exchange rate.

Thanks for the tip, we got some quotes from this website and saved over £800 on our money transfers to Europe.

Now going to save even more money and open the 10% savings account mentioned in this weeks email! Such a great free service, thanks MSE.

jamescoop

The best way to save is to call the banks , then call around these guys to get a deal.
Ive used ann marie in transfermate.com a number of times and shes's great

They have offices worldwide and came recommended by a pal who sold her house in the UK

ItsMikeE

Seen plenty of posts on transferring to another currency.
I need to make regular transfers abroad in sterling.
My bank's charges have just gone up from £21 to £25 per transaction.
Are there any better ways?

inmypocketnottheirs

ItsMikeE wrote: »

Seen plenty of posts on transferring to another currency.
I need to make regular transfers abroad in sterling.
My bank's charges have just gone up from £21 to £25 per transaction.
Are there any better ways?

Try https://www.citibank.co.uk. It's free to other citibank accounts, and a tenner I think otherwise.

buglawton

What does free mean? Banks make their killing in the wide buy/sell price margin of the 2 currencies that they take.