Ginouac

Hi so I've lived in the usa for 13 years and am now relocating back to the uk with my family...all uk citizens so I shouldn't have an issue there.

I will be selling my house here and obviously want to bring back the money...what is the best way to transfer,I'm looking at around 60k US dollars.
I once had a bank acct in the uk through Barclays but haven't a clue if it's still open and no I'm not sure of the acct number etc ! I'd prolly transfer the money to family.

Also sending my things..only looking at taking personal items,kids toys,clothes etc...no furniture. Anyone reckomend a good shipping company??

Thanks!!!

Bnet36

Hi there,

Try writing to Barclays to request astatus of account and new debit card and cheque book. You should include the last address they had on you and then other identifying info to establish who you are. You might be pleasantly surprised. Don't call and send the letter registered with signature required.

I read on here I think that Fedex freight is cheaper if you are sending belongings with no furniture involved. I am yet to do my own calculations on that. I'm thinking it all depends on how much exactly you are sending.

Best of luck and lucky you not having to deal with visas!

dunroving

As already mentioned, it wouldn't hurt to contact Barclays, but banks tend to close down dormant accounts these days so it likely will no longer exist.

The other possibility is to search this forum for threads on opening a bank account from overseas. There are lots of them. It's not particularly straightforward but it's possible. HSBC is probably most often recommended.

Also, try search for threads on transferring and exchanging money (you don't mention whether you plan to transfer as dollars but I assume you will change into pounds). There are lots of threads on doing this. XE.com is probably most commonly recommended.

Personally, I wouldn't transfer your money to someone else's account, for many reasons. For one, they then own the money. It could cause tax problems for them if it looks like a gift or income. It's also a burden of responsibility for some else. Easier for them to open your own account.

Ginouac

Thanks for the replies..yup I contacted Barclays and my old account is indeed closed.
It seems setting up an account in uk and using my usa bank acct is the best option for now. I'll fly back to the states and will wire money then.

Other thing - both my kids were born in the usa, 3 and 1. Both myself and my wife are British citizens. Anyone know the best process for getting them uk passports while I'm still in the states ? Thanks!

Novocastrian

There's only one method, no best one. You have to apply through the overseas passport office in the Uk (I believe in Durham). The processing time was a bit silly after this method came in a year or two ago, but I believe it's better now...maybe 6 weeks?

Bear in mind though that your kids, having been born in the US, will be forever US citizens. This, under present rules, will cause them unending financial pain when they grow up.

Ginouac

"Bear in mind though that your kids, having been born in the US, will be forever US citizens. This, under present rules, will cause them unending financial pain when they grow up."

In what way? I see it as then having complete freedom in the future..my main reasons are for giving them the chance to a British education and to be able to travel.in my youth I was able to travel all over the world by the age of 25,they won't get this chance in usa due to lack of vacation,college fees oh and how expensive it is to travel from the states.
Yes they will pay us taxes etc...but in the long run I hope it'll work out better for them. Also if they do wanna come back to the states then having "the accent" and British education will give a massive advantage.

dunroving

The main headaches from comments on the forum seem to be if they live overseas, they will still have to file tax returns every year and depending on their financial situation this may be complicated by having to fill in forms associated with certain kinds of investments.

As you say, there may also be lots of advantages. It's not worth fretting over at the moment but definitely worth finding out about.

Wombat7

Main reason it is a pain is that the U.S. is one of the few countries in the world that taxes its citizens irrespective of their residence. Work in a low or tax free country and you have to file us tax return.

mayhemuk

Where will you be based?
Mom has Citibank account and is considering opening a UK on but might not be best unless you are London based.
Will you move it in one hit or want to keep some back?
XE.Com was not bad though occasionally slow.

MattAus2014

Hi,

Once the UK bank account is open it would be a good option to look at and FX firm to wire the funds in GBP. If you send USD direct to your UK account it will be converted automatically at the 'rate of the day' which can be 4-5% off market. On 60k that's 2-3k difference.