Selling Property Overseas Exchange Rates

Chilliebean

Hello all,
Some advice please, my folks are selling property overseas could anyone recommend any sites where I can check and compare exchange rates, dollars to pounds.. Want to make sure what the bank overseas has quoted is giving them the best deal. - thanks for reading this post.

kinger101

A long time ago I used XEtrade.

https://www.xe.com/

The process involved US bank wiring funds to XE. Then XE wiring funds to my UK bank.

Even with two wire fees spent on a small test transfer (I was super-paranoid), it worked out my better than what the bank offered me 15 years ago, which was little better than the bureau-de-change.

eddddy

They'll probably get the best rates by using a Foreign Exchange Broker / Currency Broker.

You can google 'Foreign Exchange Broker' or 'Currency Broker' to find some examples, including some comparison sites.

There's also an MSE page about it - it's called "Sending Money Abroad" but it applies equally to "Sending Money From Abroad". Take note of the comments about regulation/protection:
https://www.moneysavingexpert.com/banking/foreign-currency-exchange/#larger

You can do stuff like book an exchange rate in advance, so you know what rate you'll get.


Or if you want to stick with the bank, compare rates for the foreign bank doing the conversion and sending GBP, versus the foreign bank sending foreign currency and the UK bank converting it to GBP.