NatashaB

Have just been stung for a very poor exchange rate when transferring from Barclays to bank of America (£3650 = $5000 inc transfer charges) - well at least that seems bad to me...

I've read that a currency broker is a much better option - can anyone recommend one and how do they work? We will be transferring about £10k in savings over to the US when we move so want to get the best possible rate on that.

Thanks for any advice

srefre

I can't recommend a currency broker, but I will give you £3650 if you give me £5000. I think that's a great deal!

NatashaB

I've corrected it now! Thanks for the kind offer though... lol!

tonrob

Hi NB

Use xe.com.

Also don't forget to use the search function on this site, as many questions such as this have been covered many times before - so you can get a lot of answers (and also background info) that way.

cranston

XE + 1.

Englishmum

We use xe.com/xetrade.com too...it takes a few days to set up though as they need to check that you're not an international money launderer!

Sadly for anyone sending money out of the UK the pound is now so weak against many other currencies, that no-one is going to get a great rate right now.

Dan725

XE or UKForex.

Merkur

Is there a limit with XE and what is the charge? I tried doing this through HSBC, but it appears that there is a £10,000 /day limit and a £17 per transaction fee.

Paul

Bob

Depends how you send the money regarding the charge. There's no money limit, but anything over $10K will automatically get reported as part of the BSA anti money laundering, as long as your not bringing cash in, the Ashlee report gets done by the bank.