Sending money to a US bank account

littly_kitty

I have to send $1500 to a US bank account.
Travelex and Currency Direct can do it for £40 cheaper than my bank (as they don't charge fees and have a better exchange rate).

1) Are there any pitfalls to using such services.
2) Naturally, I'd like to save £40, but is safer to use my bank (Halifax)?

Thanks!

eDicky

Travelex are a big solid company, I'm not so sure about Currencies Direct. There are many - TransferWise is very popular, fast and efficient, I use them myself. Or if it's not urgent I use Revolut, interbank exchange rate and no fees at all but takes a few days to arrive.

Check the rate you are being offered against the mid-market rate on xe.com

If it's a straightforward transfer and you have the relevant details there should be no pitfalls.

Yawn

Use this website to find out the cheapest service: https://www.fxcompared.com/

I'm a fan of Transferwise.

colsten

Yawn wrote: »

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I'm a fan of Transferwise.

Make that two