Receiving funds from the US to my UK Bank account

martyfarty69

Hi

I hope i am posting this in the right forum, anyway my fiancee's parents are American and they wish to transfer an amount of money ( about $4000 ) to my bank account for the wedding, it seems paypal would be the best way to action it as they seem to offer a good exchange rate and charges etc, does anyone know exactly what kind of fee i'd expect to be charged on the sum above, or even better does anyone know of a better alternative for the transfer
Hope someone out there can give me some good advice.

jonesMUFCforever

Ask them to send it direct to your bank account. They will need your IBAN and BIC numbers which should be on your statements or if not ask them.
The receiving fees are relatively low (LTSB around £8) and there is an electronic link between the banks if anything goes wrong.
If that sort amount goes through your PAYPAL a/c they might ask you to confirm your identification and address before letting you withdraw the money. This might take some time and not a good option in my opinion.
Eric

grumbler

ejones999 wrote:

The receiving fees are relatively low (LTSB around £8)

Are you sure about 'receiving fees'? I remember receiving money from Germany to my A&L account and there was no charge. Sender was charged, I think.

jonesMUFCforever

There are 3 ways you can receive money from abroad 1 You pay all charges ie the other side's and your own 2 split charges ie they pay their end you pay your bank's charge and 3 sender pays all charges.

It would appear grumbler that this is what has happened in your case or A&L deducted it without you noticing.
Eric