Financial advice needed
 

Where is the best place to get some confidential advice regarding the transfer of English funds to a US account?

Thanks,

Paul

Re: Financial advice needed
 

I'd go with Edward Jones.

Re: Financial advice needed
 

I won't tell a soul, I promise. :)

There are several threads already here; maybe you can find the info you want?
Otherwise, it depends a bit on what your concern is: legal, taxation, how-to, etc

Re: Financial advice needed
 

Thanks - I did a brief search, but couldn't come up with anything. I guess I will search harder!

Paul

Re: Financial advice needed
 

Just open a xe account and transfer it ...

what advice could be needed .....

Re: Financial advice needed
 

An 'XE' account? Sorry I am not familiar with those.

I have an HSBC account in the UK and could open an HSBC account over here and tranfer it. Are their problems with doing that? Charges? Tax implications? Legality? Is there a limit on the amount that can be transferred?

Paul

Re: Financial advice needed
 

Hi
I used the HSBC in the UK and moved my money to Bank of America . HSBC were really good they told me the account info i needed from BOA and they did it all electronically . I seem to remember it was about 20 quid a transaction and the exchange rate wasn't top notch but it was painless. There was no limit but i moved it over in large chunks because of the charge

Barry

Re: Financial advice needed
 

XE.com is a foreign exchange company. There is also one that has worked a deal for BE members.. check the home page.

You can open a US bank account and wire transfer the funds. The reason people choose a forex for big moves is to get the better rate. Those little decimal points make a difference when the principle is high enough.

If you do it through the bank, there will be a charge for either sending, receiving or both. Our incoming one cost us $25.
There is no tax consequence for moving your own money.
There is no law against moving your own money over this way.
There is no limit to how much you can do (but you may want to keep some over in the UK).

Use the 'search this forum' feature & type in 'xe' -- you will get all the money transfer results since everyone always chimes in with their own favorites.

Those threads will give more comprehensive answers than the ones in this post.

Re: Financial advice needed
 

www.xe.com ..pretty much the mosted used in this section.

Re: Financial advice needed
 

No tax implications to a transfer UK->US (there are for some people US->UK, see the current "non-dom" fuss).

Just be aware that the US taxes residents on their worldwide income, so if the UK money was earned while you were a US resident, you should have paid US tax on it.

Re: Financial advice needed
 

In addition, under anti-money laundering laws, most banks report larger transactions anyway.

Re: Financial advice needed
 

and also if several small ones are made in close proximity too...

Re: Financial advice needed
 

And if your account in the UK is HSBC Premier then transfers frm UK to US HSBC accounts are FOC.