Best way to change American dollars to pounds
#1
BE Enthusiast
Thread Starter
Joined: Jun 2010
Location: Florida
Posts: 378
Best way to change American dollars to pounds
Hi, I've sold my house in Florida and need to convert the proceeds into pounds. I understand that using a currency exchange company will get me a better rate than using my bank. Can anyone suggest a good company to use?
Many thank.
Many thank.
#2
Re: Best way to change American dollars to pounds
Do you really "need" to convert just right now? I ask because with Brexit all traditional models for the $/£ conversion are kind of out the window and it may be advantageous to wait a bit.
But if you want to get it done look at companies like xe.com but double check your bank's rate. Sometimes they offer quite competitive rates if it is part of an international chain (like Citibank or HSBC).
But if you want to get it done look at companies like xe.com but double check your bank's rate. Sometimes they offer quite competitive rates if it is part of an international chain (like Citibank or HSBC).
#3
Joined on April fools day
Joined: Apr 2012
Location: 30 miles from a decent grocery store.
Posts: 10,642
Re: Best way to change American dollars to pounds
Pizza comes to mind...oops I see you mean currency.
#4
Re: Best way to change American dollars to pounds
Also look at transferwise.. They've been giving better rates than XE on smaller sums, but I don't know how they compare on larger amounts.
#5
Re: Best way to change American dollars to pounds
Now is a great time to buy £...
we use worldfirst but you do have to open an account first. They have been great, very cheap (?£10 charge) and great exchange rates.
we use worldfirst but you do have to open an account first. They have been great, very cheap (?£10 charge) and great exchange rates.
#6
BE Enthusiast
Thread Starter
Joined: Jun 2010
Location: Florida
Posts: 378
Re: Best way to change American dollars to pounds
Do you really "need" to convert just right now? I ask because with Brexit all traditional models for the $/£ conversion are kind of out the window and it may be advantageous to wait a bit.
But if you want to get it done look at companies like xe.com but double check your bank's rate. Sometimes they offer quite competitive rates if it is part of an international chain (like Citibank or HSBC).
But if you want to get it done look at companies like xe.com but double check your bank's rate. Sometimes they offer quite competitive rates if it is part of an international chain (like Citibank or HSBC).
#7
BE Forum Addict
Joined: Mar 2011
Posts: 1,274
Re: Best way to change American dollars to pounds
I second TransFerwise.
I.E. just did a test and if I wanted to TX right now, within 24 hours the following are the guaranteed net proceeds I would receive...
US$100,000 = UKP80,293
US$500,000 = UKP401,545
I.E. just did a test and if I wanted to TX right now, within 24 hours the following are the guaranteed net proceeds I would receive...
US$100,000 = UKP80,293
US$500,000 = UKP401,545
#8
Just Joined
Joined: Jan 2017
Posts: 1
Re: Best way to change American dollars to pounds
Hold on if possible
#10
Re: Best way to change American dollars to pounds
You have to decide if you want to wait or if you are happy with what you are getting right now. Just glad you aren't doing it the other way round!
#11
Re: Best way to change American dollars to pounds
Why not just put in a buy order on the GBP at 1.20. If it hits that number (or a number the OP is looking for) the deal is done.
Of course some folks with their crystal ball will tell others to wait till the FX is at 1:1, now wouldn't that be interesting
Of course some folks with their crystal ball will tell others to wait till the FX is at 1:1, now wouldn't that be interesting
#12
Forum Regular
Joined: Oct 2012
Posts: 52
Re: Best way to change American dollars to pounds
THe rate is already very good. Yes, the brexit fallout could tank the pound even more but no one knows for sure. However the other side of that is once more information comes to light about brexit then the pound may stabilise as the uncertainty is over.
#13
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Joined: Jul 2003
Location: Finally moving!
Posts: 1,236
Re: Best way to change American dollars to pounds
What about the risk with Transferwise?
Transferwise is definitely excellent for small sums, meaning less than 1000 dollars or pounds. But I'm not sure I would trust them with my entire lifetime's wealth.
The chances of a problem might be slight, but the consequences terrible. At the least I would spread the risk by dividing the transfer into several installments.
I always remember, back in 1982, I went down to my travel agent after work to buy an airline ticket to New York. But they were busy with other clients and I was pressed for time and it was already 5:15pm, so I decided to return the next day. When I arrived and suggested buying a ticket to New York with Laker airlines they told me how lucky I was not to have bought one yesterday because Laker ceased operations that very day!
Transferwise is definitely excellent for small sums, meaning less than 1000 dollars or pounds. But I'm not sure I would trust them with my entire lifetime's wealth.
The chances of a problem might be slight, but the consequences terrible. At the least I would spread the risk by dividing the transfer into several installments.
I always remember, back in 1982, I went down to my travel agent after work to buy an airline ticket to New York. But they were busy with other clients and I was pressed for time and it was already 5:15pm, so I decided to return the next day. When I arrived and suggested buying a ticket to New York with Laker airlines they told me how lucky I was not to have bought one yesterday because Laker ceased operations that very day!
#14
Re: Best way to change American dollars to pounds
I contacted my bank but their rate was way too high. .....
#15
Re: Best way to change American dollars to pounds
What about the risk with Transferwise?
Transferwise is definitely excellent for small sums, meaning less than 1000 dollars or pounds. But I'm not sure I would trust them with my entire lifetime's wealth.
The chances of a problem might be slight, but the consequences terrible. At the least I would spread the risk by dividing the transfer into several installments.
I always remember, back in 1982, I went down to my travel agent after work to buy an airline ticket to New York. But they were busy with other clients and I was pressed for time and it was already 5:15pm, so I decided to return the next day. When I arrived and suggested buying a ticket to New York with Laker airlines they told me how lucky I was not to have bought one yesterday because Laker ceased operations that very day!
Transferwise is definitely excellent for small sums, meaning less than 1000 dollars or pounds. But I'm not sure I would trust them with my entire lifetime's wealth.
The chances of a problem might be slight, but the consequences terrible. At the least I would spread the risk by dividing the transfer into several installments.
I always remember, back in 1982, I went down to my travel agent after work to buy an airline ticket to New York. But they were busy with other clients and I was pressed for time and it was already 5:15pm, so I decided to return the next day. When I arrived and suggested buying a ticket to New York with Laker airlines they told me how lucky I was not to have bought one yesterday because Laker ceased operations that very day!