Best Method to Transfer US $60k into UK Bank Account?

scoot65

My wife and I are currently in the US due to death of a close family member. 

My wife is a beneficiary of a life insurance policy and it looks like she will receive approx $60k.

What would be the best / most efficient method of transferring this amount of dollars into a UK Lloyds bank account?

Should she be requesting the money be transferred via IBAN  / BIC I to the UK bank account ?

Many thanks.

MyRealNameToo

Sending and receiving have similar considerations so in the first instance see https://www.moneysavingexpert.com/banking/foreign-currency-exchange/ 

Assuming it's an insurer that is sending the money rather than your wife having a US bank account then it may limit the options. It's likely your bank will charge you a fee via the FX rate they apply so compare that with the option of having a pseudo US account via Wise and using that to transfer to the UK

Note Wise isnt a bank and so there is no FSCS protections in the unlikely event of it going bust mid transfer. 

ivormonee

The money received could go into an account with Wise as USD. If required, it could then be converted to GBP within Wise and then just transferred to the preferred account, ie. Lloyds.

A simpler but more expensive alternative would be to just have the USD paid directly into the Lloyds account who would do the fx. These are the options I can think of but I'm sure there will be others.