Best way to transfer money from house sale to UK bank account
Feb 9th 2019, 2:20 am
#1
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Thread Starter
Joined: Nov 2008
Posts: 24
Best way to transfer money from house sale to UK bank account
Hi
I am moving back to England next month after 10 years in the US... We are selling our US home and will want to move the resulting sum of money into our UK bank account.
What is the best way to do this for a one-off large sum?
I have seen good reviews of Transferwise are there any other suggestions people have used?
Thank you for your help!
Adam
I am moving back to England next month after 10 years in the US... We are selling our US home and will want to move the resulting sum of money into our UK bank account.
What is the best way to do this for a one-off large sum?
I have seen good reviews of Transferwise are there any other suggestions people have used?
Thank you for your help!
Adam
Feb 9th 2019, 2:41 am
#2
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Joined: Dec 2017
Location: Scotland
Posts: 120
Re: Best way to transfer money from house sale to UK bank account
We recently (last August) used HiFX to transfer money from our bank account for a house purchase in the UK. The staff we spoke to were professional and knowledgeable and the money reached its target well within their projected timeframe. They also matched a lower rate given to us by Transferwise, which was nice. We've used Transferwise for smaller amounts of money since then, including a sofa purchase.
Feb 9th 2019, 2:58 am
#3
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Joined: Nov 2009
Location: Originally from the U.K. and now back in Houston
Posts: 51
Re: Best way to transfer money from house sale to UK bank account
We can recommend ofx.com as well. We’ve done large and small transfers via them and have received great service and very competitive rates.
One other thing to mention: for larger transfers we’ve usually been in the “sending” country to organize and sign for the wire transfer of funds to ofx. We’ve found it difficult to do this remotely. Just something to bear in mind.
One other thing to mention: for larger transfers we’ve usually been in the “sending” country to organize and sign for the wire transfer of funds to ofx. We’ve found it difficult to do this remotely. Just something to bear in mind.
Feb 9th 2019, 4:34 am
#4
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Location: France
Posts: 861
Re: Best way to transfer money from house sale to UK bank account
I had to send a large amount of money recently to buy a house in the UK.
i was too scared to send it all in one go so I split it into smaller amounts and sent them via Transferwise.
I had no problems and was very happy with the service.
i was too scared to send it all in one go so I split it into smaller amounts and sent them via Transferwise.
I had no problems and was very happy with the service.
Feb 9th 2019, 7:20 am
#5
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Joined: May 2010
Location: In a big country, dreams stay with you ...
Posts: 866
Re: Best way to transfer money from house sale to UK bank account
Transferwise +1 for me. I use them fortnightly. Haven't ever sent hundreds (or even tens) of thousands. The highest I've sent was about $5000. I agree with Helen1964 maybe splitting might give you comfort.
Feb 11th 2019, 11:44 am
#6
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Location: Athens GA
Posts: 2,134
Re: Best way to transfer money from house sale to UK bank account
Be careful with splitting, and keep good records of the source(s) of the funds, because it can ring alarm bells with the FinCen people.
Feb 25th 2019, 1:09 am
#7
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Location: Rural BC
Posts: 256
Re: Best way to transfer money from house sale to UK bank account
I recently used Transferwise to send $8500CDN from Canada to Australia. It worked in the same time as smaller amounts I sent to the UK.
I wonder what level of funds would cause them to want proof of source of funds, anyone know?
I wonder what level of funds would cause them to want proof of source of funds, anyone know?
Feb 25th 2019, 7:04 am
#8
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Location: Eee Bah Gum
Posts: 4,131
Re: Best way to transfer money from house sale to UK bank account
When we were buying a house it was the transfer of money to the lawyers from the bank that was questioned and we had to provide proof of where the funds came from. The bank to bank transfer did not require proof of funds.
