We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Selling US Shares, changing $ to £.

Options
I have some US shares that are held in a US based nominee account, I wish to sell these shares and convert the $ to £. Historically I have sold some US shares, taken the proceeds as a $ cheque and then deposited the $ cheque into my sterling UK bank account. However this takes several weeks (typically 8 weeks) to change from $ to £'s and costs about £75.

Does anyone know of a quicker, and cheaper method?

Many thanks.

Comments

  • bigadaj
    bigadaj Posts: 11,531 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper
    You could look into currency brokers like hifx and similar companies with fx in their name.

    I've no experience but they off better rates than banks and have positive reviews though no Fscs guarantee in most cases I believe.
  • Thanks Bigadaj, I have tried them but there is a problem that you do not have a named account with them and my US broker will not transfer money to a third party (money laundering regulations).
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.9K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.9K Work, Benefits & Business
  • 598.8K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.