Transferring USD to GBP?

Zerforax

I received some RSUs from a previous employer a few years ago. Recently sold these so have just under $10k that I need to withdraw from E*trade and then want to transfer to any GBP account.

I found some old threads on the Forum that suggested Wise or Revolut but as these threads were a few years old I wanted to check if they were still the best options!

friolento

If e*trade support Wise, that would be my choice. If there is any issue, the Wise CS is superb whilst Revolut CS have a rather questionable reputation. You probably get a few pounds more using Wise, and it's also faster. What I don't know is whether e*trade support Wise.

friolento

On current exchange rates:

💱 

Wise Estimate

Wise uses the mid-market rate and then charges a transparent fee (usually around ~0.3–0.5 % of the amount on USD → GBP transfers). 

So for $10,000:

• Mid-market value: ~£7,470–£7,480
• Fee (≈0.4 %): ~£30–£35
  ➡️ Estimated Wise amount received in GBP: ~£7,430–£7,450

(Exact depends on the precise live rate and specific Wise fee at the time — but Wise always shows you the “you get” amount upfront.)

💷 

Revolut Estimate

Revolut’s rate can be close to mid-market on weekdays but may include mark-ups or fees depending on your plan and when you exchange (weekend/day vs market-hours). 

Their in-app converter currently suggests:

• $10,000 ≈ £7,471 before fees and exchange costs.  

But Revolut may add:

• A mark-up or spread — especially on the Standard free plan and/or outside market-hours.  
• Monthly limits (e.g., £1,000 free FX on Standard) — then typically ~0.5–1 % after that. 
  ➡️ If you exceed limits or it applies weekend mark-ups, you might get £7,350–£7,420 or even less after fees and rate mark-ups, depending on timing and plan.

wmb194

Zerforax said:

I received some RSUs from a previous employer a few years ago. Recently sold these so have just under $10k that I need to withdraw from E*trade and then want to transfer to any GBP account.

I found some old threads on the Forum that suggested Wise or Revolut but as these threads were a few years old I wanted to check if they were still the best options!

Wise still works. Open a USD account and find its US account number and routing code and use that. To set it up Etrade will send a small test payment to Wise to check the details and that it's in your name and then you'll be good to go.

sausage_time

I have previously sent from E*Trade to my Wise US bank details (using ACH - so no cost).  And from there to my GB bank account.

Zerforax

Okay reassuring to know this works! When I was reading, people were complaining how much E*trade charge if you withdraw directly to an international bank account.

sausage_time

With Wise for all intents and purposes it is a US bank account.  Be sure to choose ACH to send and not Wire which I think E*Trade will charge for.  From memory transfer was overnight to Wise, then a few seconds to send on to a GB domestic account from Wise.