Quickest way to transfer money from UK to US?
#1
BE Forum Addict
Thread Starter
Joined: Jun 2010
Posts: 2,847
Quickest way to transfer money from UK to US?
Hi All
I'm aware of the various different companies that offer money transfer services.
I'm curious to know which is the quickest.
I currently have money in Barclays in the UK, and would like to get it to my CitiBank account in NY. It's not a huge amount, and getting it our of an ATM in time isn't going to work.
Cheers
Harry
I'm aware of the various different companies that offer money transfer services.
I'm curious to know which is the quickest.
I currently have money in Barclays in the UK, and would like to get it to my CitiBank account in NY. It's not a huge amount, and getting it our of an ATM in time isn't going to work.
Cheers
Harry
#2
Re: Quickest way to transfer money from UK to US?
Hi All
I'm aware of the various different companies that offer money transfer services.
I'm curious to know which is the quickest.
I currently have money in Barclays in the UK, and would like to get it to my CitiBank account in NY. It's not a huge amount, and getting it our of an ATM in time isn't going to work.
Cheers
Harry
I'm aware of the various different companies that offer money transfer services.
I'm curious to know which is the quickest.
I currently have money in Barclays in the UK, and would like to get it to my CitiBank account in NY. It's not a huge amount, and getting it our of an ATM in time isn't going to work.
Cheers
Harry
#3
Re: Quickest way to transfer money from UK to US?
Bank to bank depends on the bank...if they're related banks it can be instant, other wise can be a few days. All depends on how/cost though.
For small sums, pretty instant, xoom.com
For small sums, pretty instant, xoom.com
#4
BE Forum Addict
Thread Starter
Joined: Jun 2010
Posts: 2,847
Re: Quickest way to transfer money from UK to US?
Thx. Isn't xoom only FROM the US, and not TO the US?
#5
Re: Quickest way to transfer money from UK to US?
I have transferred large amounts from non related banks...Nat West to Chase...and vice versa...it usually only takes 24 hrs...although they do state it could take longer.
#6
Vendor
Joined: Feb 2013
Location: London
Posts: 139
Re: Quickest way to transfer money from UK to US?
I suggest you shop around for currency transfer quotes and make sure that you are getting the best rate from an FSA authorised foreign exchange provider. Typically, a foreign exchange broker's rate can be up to 4% better than the banks.
Hope that helps
Hope that helps
#7
Re: Quickest way to transfer money from UK to US?
It depends whether you wish to have a better exchange rate or a quick transfer...Harry asked for the quickest route.
#8
Vendor
Joined: Feb 2013
Location: London
Posts: 139
Re: Quickest way to transfer money from UK to US?
For one off payments most foreign exchange brokers can transfer within 48 hours (usually depends on the currency and the broker). Once an account has been opened and usually if it's done before midday then the money can sometimes be in the account on the same day. On top of that you'll get a better exchange rate with a foreign exchange provider than a bank.
#9
Re: Quickest way to transfer money from UK to US?
Hi All
I'm aware of the various different companies that offer money transfer services.
I'm curious to know which is the quickest.
I currently have money in Barclays in the UK, and would like to get it to my CitiBank account in NY. It's not a huge amount, and getting it our of an ATM in time isn't going to work.
Cheers
Harry
I'm aware of the various different companies that offer money transfer services.
I'm curious to know which is the quickest.
I currently have money in Barclays in the UK, and would like to get it to my CitiBank account in NY. It's not a huge amount, and getting it our of an ATM in time isn't going to work.
Cheers
Harry
#10
Re: Quickest way to transfer money from UK to US?
Quickest, in my experience, is bank to bank. I can request transfers electronically in the evening here, so it processes first thing when the UK opens the next morning. The money is in my US bank before the end of the day - well under 24 hours. The banks are not related.
#11
Re: Quickest way to transfer money from UK to US?
Harry if it is a large amount of money the bank may not release the funds for a day or two. I have experienced this with both my US and UK bank.
#12
Vendor
Joined: Feb 2013
Location: London
Posts: 139
Re: Quickest way to transfer money from UK to US?
FX specialist providers can also transfer same day - Transfer money at 9am, money in the recipient bank by 3pm or even sooner.
#13
Re: Quickest way to transfer money from UK to US?
That I wouldn't know, haven't tried. Though I thought they could, but you could be right.
I know bank to bank should be quick and I've had small sums done within 24 hours, but I've also had it take up to 4 days on occasion. Don't do it often, as my mother usually just sends cash as the missus can exchange it free. We're only talking 20-50squid now and again from my mother to get stuff for the kids.
When the missus was doing her masters and had to shift the loan money to the UK, that did take longer as the bank held the money before releasing it. But that was a weird little chain event and not sure that it's such a common occurrence.
I know bank to bank should be quick and I've had small sums done within 24 hours, but I've also had it take up to 4 days on occasion. Don't do it often, as my mother usually just sends cash as the missus can exchange it free. We're only talking 20-50squid now and again from my mother to get stuff for the kids.
When the missus was doing her masters and had to shift the loan money to the UK, that did take longer as the bank held the money before releasing it. But that was a weird little chain event and not sure that it's such a common occurrence.
#14
Re: Quickest way to transfer money from UK to US?
Hi All
I'm aware of the various different companies that offer money transfer services.
I'm curious to know which is the quickest.
I currently have money in Barclays in the UK, and would like to get it to my CitiBank account in NY. It's not a huge amount, and getting it our of an ATM in time isn't going to work.
Cheers
Harry
I'm aware of the various different companies that offer money transfer services.
I'm curious to know which is the quickest.
I currently have money in Barclays in the UK, and would like to get it to my CitiBank account in NY. It's not a huge amount, and getting it our of an ATM in time isn't going to work.
Cheers
Harry
Setting it up for both your accounts might be tricky, and take time.
#15
Vendor
Joined: Feb 2013
Location: London
Posts: 139
Re: Quickest way to transfer money from UK to US?
Also just to say many FX companies such as ourselves offer a specific service for this type requirement - ours is called a spot contract - if you want more details, feel free to personal message me.