What is the cheapest and best way of receiving a Large international payment in US dollars into a UK

sparkiemalarkie

Hi, I am expecting a payment of $65,000 US and have Santander, Halifax and LLoyds personal accounts.
Does anyone know which one is the cheapest and most reliable.?
many thanks
sx

jadex

I'd open Wise or Revolut and add USD account so transfer will be USD -> USD without conversion and cheapest for sender as it won't be an international transfer.
Or Starling bank or Chase bank so you will get good conversion from USD to GBP

sparkiemalarkie

Ah, I have a Revolut account that I forgot about.

What about margin charges  for Revolut ?
Isn't there a max paying in amount too with Revolut? any idea how much it is?

thanks

sx

eDicky

sparkiemalarkie said:

What about margin charges  for Revolut ?
Isn't there a max paying in amount too with Revolut? any idea how much it is?

Take a look in your Revolut app to check the limits/fees these days, I think the FAQs are accessed through the Profile icon. Personally I would avoid using them for fear of having to deal with their CS...

PRAISETHESUN

I've used Wise and can recommend them - simply open up USD and GBP accounts with them, provide the USD details to the sender, and then manage the conversion to GBP when the money arrives. You can then send the GBP from Wise to any UK bank.

I would also caution against Revolut. They have a well known history of poor customer service and if anything goes wrong you might not see your money for a long time.

Regardless of what you end up doing, just make sure you don't let your high street UK bank manage the currency conversion. You're probably looking at least a few thousand you'll lose from their conversion fees and exchange rate mark up compared to a specialist currency conversion service.