Moving $ from a US account

Equaliser12345

Hi

I have a significant amount of cash in a US stockbroker account.  The cash is held in USD.  I need to transfer to the UK.

Does anyone know the cheapest way of doing this?  It seems that most banks will charge quite a hefty fee and/or provide a very poor conversion rate.

Thanks in advance.

eDicky

https://www.monito.com/en/ (Comparison site.)

Wise is popular and reliable. A Fineco Bank UK account could be useful.

Equaliser12345

eDicky said:

https://www.monito.com/en/ (Comparison site.)

Wise is popular and reliable. A Fineco Bank UK account could be useful.

That's very useful - thanks.  The slight snag is, most depend upon the sender being an individual using an existing bank account. 

 In this case, I will need the broker (Etrade) to wire the money somewhere.  The intermediaries seem to act as a broker between two accounts rather than receiving the money and sending it on.

eDicky

You're right, Monito is not so useful for this. But Wise and Fineco UK provide USD account details in your name to receive such funds, there may be others..

sausage_time

I have transferred US$ directly from E*TRADE to Wise (using US$ Account details).  Worked a treat. 

Equaliser12345

sausage_time said:

I have transferred US$ directly from E*TRADE to Wise (using US$ Account details).  Worked a treat. 

Thanks - but its really the conversion from USD to GBP that is causing the problem.  That said, the slide of the £ has actually saved me £1,000 in 4 days.  Every cloud...

PRAISETHESUN

Equaliser12345 said:

sausage_time said:

I have transferred US$ directly from E*TRADE to Wise (using US$ Account details).  Worked a treat. 

Thanks - but its really the conversion from USD to GBP that is causing the problem.  That said, the slide of the £ has actually saved me £1,000 in 4 days.  Every cloud...

Wise can receive the USD and then also manage the conversion for you.

First you move USD from your trading account to your Wise USD account. Convert to GBP within Wise (ie. move from Wise USD account to Wise GBP account). Finally then transfer from Wise GBP to your UK current account.