converting $ share in to £ ???

Bargain_Hunter_12

I have shares via ESP, but the shares are in $ which means if i sell the shares i will receive a check in $. the banks will rip off both in terms of exchange rate and commission.


Is there any way out of this? my coy is not listed in LSE (for information)

Ta,

Bob

tradetime

You may find info of help here
http://forums.moneysavingexpert.com/showthread.html?t=10656

purch

Is there any way out of this?

Unfortunately no.....you hold an asset priced in USD.

At some stage there will have to be a conversion if you want to realise that asset into GBP.

Receiving the proceeds as a $ Check is probably not the cheapest option for you.

jamesd

Bargain_Hunter, ask your own bank for details of its correspondent bank in the US or how it would most like to receive funds electronically for your account.

Personally I was rushed and accepted a $20k check for a buyout and the costs weren't too bad for that amount. Not great but not complete ripoff. For option exercise and ESP I'll be using what I suggested in the first paragraph if necessary.

Do check your scheme terms. It's possible that you'll be required to take payment via UK payroll to ensure that your employer correctly collects and pays the tax and NI liabilities.