Best country to pay dollar invoice in

janexxc

[FONT=&quot]Hi MSE Forumers,[/FONT]
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[FONT=&quot]I have been given the option of paying a One Thousand DOLLAR invoice via Nat West in London or via a Bermudan Bank.[/FONT]
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[FONT=&quot]Would one of the options be significantly cheaper than the other for me and if so can you briefly explain why?[/FONT]
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[FONT=&quot]Many thanks, Jane[/FONT]

grumbler

What does 'via' mean and why in London?
Is the 'Bermudan Bank' in Bermuda?
Depending on where you are, I guess it's cheaper to travel to London than to Bermuda.

If you are in some other country and want to make an international USD transfer either to Natwest or to to a 'Bermudan Bank', your bank is likely to charge you the same. In both cases intermediary bank(s) can get involved with their unpredictable charges: Help preventing Bank Rip-off When Sending money Overseas ?

agrinnall

On the assumption (perhaps a big leap) that you have a UK sterling account and the payee has a NatWest USD account in the UK then it probably will be cheaper to pay to that account than to the one in Bermuda which is very likely to require passing through an intermediary. Other factors that may influence the cost include whether you can pay in GBP or whether you have to convert to USD first, and whether conversion charges are paid by you in addition to the invoice amount or if the invoice amount is the total that you have to pay.