psb182

got a question if anyone can help......when we exchanged money in the UK the actual rate was 53 pence per one $ but we actually got 49 pence.........now say if I had a wire transfer from a US bank to a UK bank would I get the 53 pence or still get the 49 pence and the bank take their cut.....thanks in advance for any replys

dunroving

I think you'll need to explain what you mean by the "actual" rate - the mid-rate? The sell rate? The buy rate?

You could try searching the archives for several threads on this topic over the past 12 months. The threads include discussion of "rates" and what determines them, plus "charges" (commission, wire transfer charges etc.). Would be quicker than waiting for replies to your post.

Generally, I think XE.com has come out on top as the most convenient and cheapest (i.e., best exchange rate) method. A lot of people on here have used them and been happy.

Englishmum

Ha ha,

Dunroving beat me to it in replying to you as I was looking through the search archives...

Here's one of them, it begins with a question about converting pounds to US$ but the replies are relevant - in particular Pulaski obviously knows what he's talking about - perhaps you could revive the thread or send him a PM if you need a further explanation. Also you will notice that http://www.xe.com is mentioned here too.

http://britishexpats.com/forum/showt...ghlight=dollar

Hope this helps!