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Sending money to a US bank account

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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!

Comments

  • eDicky
    eDicky Posts: 6,835 Forumite
    Ninth Anniversary 1,000 Posts Name Dropper
    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.
    Evolution, not revolution
  • Yawn
    Yawn Posts: 162 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    Use this website to find out the cheapest service: https://www.fxcompared.com/

    I'm a fan of Transferwise.
  • colsten
    colsten Posts: 17,597 Forumite
    10,000 Posts Seventh Anniversary Photogenic Name Dropper
    Yawn wrote: »
    [/url]

    I'm a fan of Transferwise.

    Make that two
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