pat garrett

I have some money in my US Citibank account that I'd like to transfer to my account in the UK (about $10k). Can anyone advise me on where I'm likely to get the best exchange rate? I'd rather get a draft made out in sterling than take cash or traveller's cheques, but today's Citibank "£ buy" rate was a hefty 1.85. Any tips on where I might get a better rate than this?

Thanks in advance,

Pat.

Elvira

Try XE.

sas

That's XETrade at https://www.xe.com/fx/ you will need a UK bank account to use them. It's a pain to set up an account with them, but transactions are quick and their exchange rates are very good.

Bob

Yup, www.xe.com is probably your best bet, there's plenty of threads that talk about them

Another one you might look at is www.hifx.com There probably your best bet for highest rate with lowest cost.

BigDavyG

No you don't sister - they will send a draft to a UK address for you, and presumably even to your US address too if you want to take the draft home with you yourself.
You do need a US bank account and about 2/3 days worth of patience to open the account though, asides from that they are hard to find fault with (provided my latest shipment makes it home ok that is )

sas

I stand corrected

I've used them 3 or 4 times without any problem, but that was UK to US transactions bank to bank.

BigDavyG

I'm a bit of a tight arse so I like to save a few quid by getting them to send a draft to the UK

Elvira

Definitely agree. We've just them and everything went without a hitch - money was received in the UK in less than 24 hours.

And we got a much better rate than our bank wouldhave given us.

Elvira

Thanks for sharing that with us.

I know someone who will probably be interested...

BigDavyG

They'll probably lose interest though when they find out that i'm not a special super-friend.

Elvira

I do not discriminate. Friends, enemies - whoever...

BigDavyG

Neither do I - I hate everyone (except Joe Pasquale and Nicola, 23, London - she's my fave )

TRPardoe

I just used XE to send moneys to my son in the UK. I got a rate of 1.77/£1 but there was a wire transfer fee. However, the fee was half that of Western Union and I could not determine what WUs end rate would be.

I have also used XE in the other direction.

Transfers take about 3 or 4 business days.

XE is terrific and painless once you have it set up.

tony126

Here, here to all that has been said about XE.

pat garrett

Thanks for all your help.

Pat.