Transferring $ USA to UK: PayPal Vs XE
Jan 7th 2010, 2:35 am
#1
Forum Regular
Thread Starter
Joined: Jan 2009
Location: Kentucky - Green Card came 2 months after marrying! :D
Posts: 188
Transferring $ USA to UK: PayPal Vs XE
Hi,
Thanks to some advice I read (somewhere) on BE I have now started using XE.com trading instead of PayPal. At last look 1GBP was $1.62 on XE trading, on PayPal it was $1.66. So for me i'll be saving around $26 per month based on my transactions.
I do find PayPal VERY easy to use and didn't think anything else could compare. I found XE.com hard to use at first but after I used the online help a representative offered to call me. She helped me alot and now (although very little) it's saving me money.
Thanks to some advice I read (somewhere) on BE I have now started using XE.com trading instead of PayPal. At last look 1GBP was $1.62 on XE trading, on PayPal it was $1.66. So for me i'll be saving around $26 per month based on my transactions.
I do find PayPal VERY easy to use and didn't think anything else could compare. I found XE.com hard to use at first but after I used the online help a representative offered to call me. She helped me alot and now (although very little) it's saving me money.
Jan 27th 2010, 10:14 am
#2
Just Joined
Joined: Jan 2010
Posts: 3
Re: Transferring $ USA to UK: PayPal Vs XE
Interesting, just arrived in US as my job moved so I followed it. I opened a US bank account with Bank of America. Now i want to transfer money back to the UK to pay my bills there, thats where it's got tricky. I registered with Currencyonline and tried a test transaction, however I cant do a bill payment from BoA to them, instead needs to be a wire which is $20.
Any ideas the most efficient way to do this? If it involves moving banks then thats fine. thanks:
Any ideas the most efficient way to do this? If it involves moving banks then thats fine. thanks:
Jan 27th 2010, 1:30 pm
#3
Septic Sprout
Joined: Aug 2004
Location: Shanghai
Posts: 7,995
Re: Transferring $ USA to UK: PayPal Vs XE
Hi,
Thanks to some advice I read (somewhere) on BE I have now started using XE.com trading instead of PayPal. At last look 1GBP was $1.62 on XE trading, on PayPal it was $1.66. So for me i'll be saving around $26 per month based on my transactions.
I do find PayPal VERY easy to use and didn't think anything else could compare. I found XE.com hard to use at first but after I used the online help a representative offered to call me. She helped me alot and now (although very little) it's saving me money.
Thanks to some advice I read (somewhere) on BE I have now started using XE.com trading instead of PayPal. At last look 1GBP was $1.62 on XE trading, on PayPal it was $1.66. So for me i'll be saving around $26 per month based on my transactions.
I do find PayPal VERY easy to use and didn't think anything else could compare. I found XE.com hard to use at first but after I used the online help a representative offered to call me. She helped me alot and now (although very little) it's saving me money.
Jan 27th 2010, 2:59 pm
#4
Sursum corda
Joined: Sep 2002
Location: Richmond Hill, GA USA
Posts: 38,860
Re: Transferring $ USA to UK: PayPal Vs XE
Jeeze, BOA charged us 35 bucks per wire.
Jan 28th 2010, 3:00 am
#5
Forum Regular
Thread Starter
Joined: Jan 2009
Location: Kentucky - Green Card came 2 months after marrying! :D
Posts: 188
Re: Transferring $ USA to UK: PayPal Vs XE
Interesting, just arrived in US as my job moved so I followed it. I opened a US bank account with Bank of America. Now i want to transfer money back to the UK to pay my bills there, thats where it's got tricky. I registered with Currencyonline and tried a test transaction, however I cant do a bill payment from BoA to them, instead needs to be a wire which is $20.
Any ideas the most efficient way to do this? If it involves moving banks then thats fine. thanks:
Any ideas the most efficient way to do this? If it involves moving banks then thats fine. thanks:
Do XE.com. You can have it debited from your account and send it EFT to your UK account. Ok EFT takes usually 5-7 business days but it's free. Wire to UK is still going to charge $20 if you choose. For now I use EFT unless it's urgent.
Good Luck. The staff at XE.com are very helpful and have 24hour call center. Just remember when you do an exchange to have the money debited directly from your account.
Good Luc
Jan 29th 2010, 6:31 am
#6
BE Enthusiast
Joined: Feb 2009
Location: St Pete, FL
Posts: 346
Re: Transferring $ USA to UK: PayPal Vs XE
Yes. It varies based on amount you send over but it is quite reasonable. For someone who has just arrived and needs to transfer less that $500 to the UK I think PayPal is the best option until you get settled and financially set up. It costs a few dollars more than XE on that kind of amount but is of course very easy to use and you can have your funds in your UK bank account in just a few days. I'm signed up to XE now and will use it once my PayPal balance is depleted, but I would happily use PayPal again in the future if the situation demanded it.
Jan 30th 2010, 12:18 pm
#7
BE Enthusiast
Joined: Apr 2003
Posts: 367
Re: Transferring $ USA to UK: PayPal Vs XE
Yes. It varies based on amount you send over but it is quite reasonable. For someone who has just arrived and needs to transfer less that $500 to the UK I think PayPal is the best option until you get settled and financially set up. It costs a few dollars more than XE on that kind of amount but is of course very easy to use and you can have your funds in your UK bank account in just a few days. I'm signed up to XE now and will use it once my PayPal balance is depleted, but I would happily use PayPal again in the future if the situation demanded it.
