Who gives the best foreign exchange rates: i need $40,000 USD

at11

I need to convert sterling into $40,000 USD but as there are a lot of companies i dont know which gives the best rates.

I assume due to economies of scale that the bigger forex companies give the best rates, but how do i find out who the big players are?

ivecontacted western union who claim to have very competitive rates, but they would.

Thanks

J_B

You don't say, but I assume it's not cash

I always use http://www.currencyfair.com to convert my currency.

There's a flat rate (£3?) fee which for a large sum, is nowt.

Voyager2002

Personally I would check out the Money Funds offered by Fidelity Investments. You can pay in sterling, convert to a US dollar investment, then ask them to pay it out to your chosen bank account in dollars. Both bank accounts must be in your name.

mark55man

A bit more detail about what mechanism you are using would help eg if you have US bank account or if you want to do it in cash

CaxtonFX advertise in the FT so may be OK

I used Transferwise for sending £1200 to HK (but the currency risk was at the other end so I didnt check rates too much - although they looked good

Almost certainly you are right to look for a specialist- fraid I cant help with names

This MSE article may be useful

http://www.moneysavingexpert.com/banking/foreign-currency-exchange?_ga=1.32866686.1740263088.1419681080

these non MSE linksmay help

http://www.moneysupermarket.com/travel-money/?keywords=best%20Fx%20rates

http://travelmoney.moneysavingexpert.com/