HELP Moving Money from US to UK
I am moving back to the UK late Summer from the US after 15 years. Have no family back in the UK but home is home after a recent divorce here.
I will have approximately $90,000 so about 63k how should I do this for anyone else having gone through this themselves. I thought about a check from the US bank and open a bank back in the UK once I touch down but they will need additional ID than a UK passport I am sure. Is it possible while settling up here to open a UK saving account or bank here from the US before I leave. I will have a little cash, maybe 1k for getting by until bank account is open but where do any of you advise cannot just simply withdrawn money and take 63k home with me from the US, if stopped they would think it was drug money ha ha Hoping its possible to open an account from here first. Thanks Martin |
Re: HELP Moving Money from US to UK
I will be transferring money myself and am going to use Currency Broker, International Money Transfers – TorFX
My mother used them before so I know they are good. |
Re: HELP Moving Money from US to UK
Okay but transfer where, how did you set up a bank or saving account from the US
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Re: HELP Moving Money from US to UK
Originally Posted by cyborg
(Post 11891546)
Okay but transfer where, how did you set up a bank or saving account from the US
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Re: HELP Moving Money from US to UK
Because I want to just be done here and will need the money to use in England not have most of it or half tied up in the US and if anything goes wrong not have access to that amount.
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Re: HELP Moving Money from US to UK
An account with Lloyds Bank International in the Isle of Man, may be your best or indeed only choice (or another international bank in IoM or the Channel Islands). Lloyds in the IoM behaves like a regular British bank, with name recognition, but caters to overseas customers. IIRC the monthly service fee is £7.
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Re: HELP Moving Money from US to UK
Originally Posted by cyborg
(Post 11891561)
Because I want to just be done here and will need the money to use in England not have most of it or half tied up in the US and if anything goes wrong not have access to that amount.
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Re: HELP Moving Money from US to UK
Right, but without an address, having no real access to a bank i will only be able to stay in a hotel until i have access to my funds cannot just take the whole amount home in cash. I need a way to set up an account with only my British passport and social number i guess.
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Re: HELP Moving Money from US to UK
Originally Posted by cyborg
(Post 11891626)
I need a way to set up an account with only my British passport and social number i guess.
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Re: HELP Moving Money from US to UK
Originally Posted by cyborg
(Post 11891626)
Right, but without an address, having no real access to a bank i will only be able to stay in a hotel until i have access to my funds cannot just take the whole amount home in cash. I need a way to set up an account with only my British passport and social number i guess.
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Re: HELP Moving Money from US to UK
This is a pain in the ass trying to move back to the UK might just take my chances and take the whole damn lot in cash with me instead, have plenty of ready cash to rent that way instead of farting around with the idiots in the US and how slow they are here.
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Re: HELP Moving Money from US to UK
Originally Posted by cyborg
(Post 11891641)
This is a pain in the ass trying to move back to the UK might just take my chances and take the whole damn lot in cash with me instead, have plenty of ready cash to rent that way instead of farting around with the idiots in the US and how slow they are here.
I have recommended twice that you open an account in the IoM, but you haven't acknowledged my posts. Is there some reason why you aren't willing to do that? |
Re: HELP Moving Money from US to UK
Because I have no desire to pay tax on it here in the US have already lost a lot moving to the US (big mistake) and wish to just take my money from my account and move back to the UK without farting around paying anything here.
I will look into the IOM but I also do not know where as yet I will be living as I intend buying a kiosk or window cleaning business back in the UK as wages are crap in the UK these days. Closer to the time you are right i might just be better transferring money from my account to the one on the IOM long as the government here doesn't have it hand in my pocket. |
Re: HELP Moving Money from US to UK
Originally Posted by cyborg
(Post 11891652)
Because I have no desire to pay tax on it here in the US have already lost a lot moving to the US (big mistake) and wish to just take my money from my account and move back to the UK without farting around paying anything here. ..... Closer to the time you are right i might just be better transferring money from my account to the one on the IOM long as the government here doesn't have it hand in my pocket.
The only tax due is on interest earned, which these days is peanuts anyway. |
Re: HELP Moving Money from US to UK
The IOM wants either a job generating 50k a year or more or a regular deposit with at least 25k investment I need quicker access to my money once I sat down. My plan is to rent a place if possible from here in the US or after I get back, rent a hotel for a month, rent a house close to the business paying 6 months up front in light of having been gone 15 years and no rental history and bobs your uncle.
I think i might just do the cash route you only have to show its not stolen and with a bank note confirming it came from my business account here in the US I should be fine. I do not trust banks when dealing with this kind of stuff between countries and any hold they put on my money. When I get the green light, have business sold and money just intend to leave the US. Have a hospital bill for 36k they can stick up their ass. England here I come 6 more months. |
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