Moving currencies..
Jul 6th 2018, 3:46 pm
#1
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Thread Starter
Joined: Mar 2017
Location: West Midlands UK Greene County Tennessee
Posts: 155
Moving currencies..
Hi all,
in in the process of moving to the states when my visa application is processed, hoping around the month of Feb/march 2019.
My question is, has anybody got any good experiences with companies in the uk, with money transfers, the reason I ask as it's normal to get jittery with larger sums, so just wanted to know companies, where it was a positive hassle free experience.... thanks..
in in the process of moving to the states when my visa application is processed, hoping around the month of Feb/march 2019.
My question is, has anybody got any good experiences with companies in the uk, with money transfers, the reason I ask as it's normal to get jittery with larger sums, so just wanted to know companies, where it was a positive hassle free experience.... thanks..
Jul 6th 2018, 3:52 pm
#2
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Joined: Nov 2007
Posts: 906
Re: Moving currencies..
transferwise.com
Transferwise have been superb for me. Great fees and service
Transferwise have been superb for me. Great fees and service
Jul 6th 2018, 4:15 pm
#3
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Thread Starter
Joined: Mar 2017
Location: West Midlands UK Greene County Tennessee
Posts: 155
Jul 6th 2018, 4:51 pm
#4
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Joined: Aug 2013
Location: Athens GA
Posts: 2,134
Re: Moving currencies..
I used TorFx when I first moved, many years ago now, and more recently I have used Transferwise. Both have been excellent.
This might help you in your research:
https://www.finder.com/international...ransfer-awards
This might help you in your research:
https://www.finder.com/international...ransfer-awards
Jul 6th 2018, 7:46 pm
#5
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Joined: Feb 2010
Location: Temecula, CA
Posts: 4,759
Re: Moving currencies..
XE.com worked for me, lots of times, though I've not transferred in the last 2-3 years now.
Jul 9th 2018, 10:45 pm
#8
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Joined: Sep 2008
Location: Houston, TX
Posts: 45
Re: Moving currencies..
I have used XE, Xoom and Transferwise. Have to say that Transferwise is superb and you do get great rates too.
A couple of things to consider. When transferring very large sums, the companies will need more information to ensure they are not running foul of money laundering regulation. This may delay the transfer while everything checks out. So if time is an issue it might be worth checking ahead of time with their customer services.
Another thing is as you are probably aware, sterling is all over the place right now. You may want to hedge you exposure to that by breaking up your lump sum and doing a periodic transfer. So between now and March next year, do a monthly or bi monthly transfer. Its not an exact science but it will hopefully stop you from taking a huge hit if you happen to time it when something dire happens in the news and suddenly sterling plummets for the day.
A couple of things to consider. When transferring very large sums, the companies will need more information to ensure they are not running foul of money laundering regulation. This may delay the transfer while everything checks out. So if time is an issue it might be worth checking ahead of time with their customer services.
Another thing is as you are probably aware, sterling is all over the place right now. You may want to hedge you exposure to that by breaking up your lump sum and doing a periodic transfer. So between now and March next year, do a monthly or bi monthly transfer. Its not an exact science but it will hopefully stop you from taking a huge hit if you happen to time it when something dire happens in the news and suddenly sterling plummets for the day.
Jul 10th 2018, 7:24 pm
#9
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Thread Starter
Joined: Mar 2017
Location: West Midlands UK Greene County Tennessee
Posts: 155
Re: Moving currencies..
I have used XE, Xoom and Transferwise. Have to say that Transferwise is superb and you do get great rates too.
A couple of things to consider. When transferring very large sums, the companies will need more information to ensure they are not running foul of money laundering regulation. This may delay the transfer while everything checks out. So if time is an issue it might be worth checking ahead of time with their customer services.
Another thing is as you are probably aware, sterling is all over the place right now. You may want to hedge you exposure to that by breaking up your lump sum and doing a periodic transfer. So between now and March next year, do a monthly or bi monthly transfer. Its not an exact science but it will hopefully stop you from taking a huge hit if you happen to time it when something dire happens in the news and suddenly sterling plummets for the day.
A couple of things to consider. When transferring very large sums, the companies will need more information to ensure they are not running foul of money laundering regulation. This may delay the transfer while everything checks out. So if time is an issue it might be worth checking ahead of time with their customer services.
Another thing is as you are probably aware, sterling is all over the place right now. You may want to hedge you exposure to that by breaking up your lump sum and doing a periodic transfer. So between now and March next year, do a monthly or bi monthly transfer. Its not an exact science but it will hopefully stop you from taking a huge hit if you happen to time it when something dire happens in the news and suddenly sterling plummets for the day.
Currencies direct said that I could lock in an exchange rate when it goes up, but with that lock in, you are locked in, and at the lock in rate I was told I can move as much as I wanted at anyone time. I'll ask torfx if they do the same !!!
Jul 11th 2018, 11:50 am
#10
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Joined: Aug 2013
Location: Athens GA
Posts: 2,134
Re: Moving currencies..
well ive looked into torfx and currencies direct.
Currencies direct said that I could lock in an exchange rate when it goes up, but with that lock in, you are locked in, and at the lock in rate I was told I can move as much as I wanted at anyone time. I'll ask torfx if they do the same !!!
https://www.torfx.com/personal/your-...er-options.php
Jul 15th 2018, 8:36 pm
#11
Forum Regular
Joined: Apr 2017
Location: Folkestone hopefully to change to Keller, TX!
Posts: 90
Re: Moving currencies..
I’ve just moved over to the states so was in same position as you few days ago. I looked into all the companies mentioned above and the best rate I was getting early last week was around 1.302, I then checked out Azimo and managed 1.322 with them, which meant about an extra $700 with the amount I was moving. The money left U.K. Wednesday, arrived in USA account Thursday and was posted Friday morning. There was a £1.99 fee, but considering the superior rate was well worth it! As with all companies you do need to go through some security checks but was simple enough as can just upload required documents through the app.
