Hanco

I found this handy guide

https://www.depositaccounts.com/blog...r-and-ach.html

And a quick online chat with my bank confirms they will receive ACH transactions no charge: " I have researched this for you. As long as the ACH routing number and your account number is used, and not the wire transfer method, then yes, your account will receive the ACH Transfer."

So as mentioned above by our friend, the question is will the "Senders" send by ACH - and I don't know the answer there, yet.

Anash

It all depends on the amounts you need at a time and frequency of withdrawals/use.

Firstly, opening a bank account is really easy in the USA.

Secondly, you must look at not just the charges but the actual exchange rate itself. Avoid direct bank transfers as these cost more. Banks have higher charges and lower exchange rates. Last year I transferred money using Travelex. After researching a few different money transfer facilities I found their rates to be the best at that time. You may want to compare current deals before choosing a vendor. Travelex did not charge a fee if you transfer over £2500, but charge a flat fee of £7 for anything below £2500. The US bank (Wells Fargo, North California) charged a flat fee of $15 for the incoming overseas transfer.

So, look at the charges AND the actual exchange rate used.

Pulaski

Look to see if your FX/transfer agent offers "credit by ACH" or "direct credit" (as opposed to "credit by wire"), because then you will avoid the $15 receive wire fee.

Hanco

Halo Financial: No, we do not have a bank in the USA and therefore do not offer ACH Asa method of funds transfe. Only Wire.

If anyone finds a provider that DOES do ACH, please post here. Only to save £10but it all adds up

Pulaski

I know xe.com does, and I suspect WorldFirst does, msybe xoom.com too.

goatherder

Xe.com (Custom House) does use ACH (Its similar to BACS in the UK). That's the reason I use XE rather than UK Forex for these transfers.

lansbury

I'm not sure World First does, at least I haven't found the option. But I must admit I haven't looked to hard as my Chase Private Client account gives me free wire transfers, both sending and receiving.

Phyzz

Transferwise uses ACH

HoosierDaddy

Have you used TransferWire?

Looking to have some money sent from my sister (in the UK) to me (in the US) and wanted to know the basics.

Cheers.

Phyzz

I have used it once, and would do so again.

I was transferring from Denmark to US, I transfer the money from my account to another bank in Denmark quoting the reference number provided when reserving the transfer. One the funds were cleared Transferwise then made a direct deposit into my US bank.

Simple and took a few days for each transfer to be cleared.

HoosierDaddy

Thanks Phyzz!

I'll either use TW or XE. Yesterday when I checked, I think XE had a better rate between the 2 but I hadn't followed it to the end to see if their fees were different.