Funds Transfer
#1
Forum Regular
Thread Starter
Joined: Jun 2013
Location: SLC, UT
Posts: 199
Funds Transfer
OK - I know, I know - its another query probably previously answered but I am a little confused.
I have a UK current account - NatWest
I have a US checking account x 2
I want to transfer around £20,000/$30,000 to the US.
I am (currently) a UKC.
The folks at Natwest have, on the transfers page of their on-line banking a means to set-up international transfers. So far so good. I guess this would go via a SWIFT transaction this way.
However, from researchin around it looks like the sending and receiving charges could be a bit.
Essentially, whats the most efficient in terms of speed, cost and administrative hassle of sending the $30k.
I have a UK current account - NatWest
I have a US checking account x 2
I want to transfer around £20,000/$30,000 to the US.
I am (currently) a UKC.
The folks at Natwest have, on the transfers page of their on-line banking a means to set-up international transfers. So far so good. I guess this would go via a SWIFT transaction this way.
However, from researchin around it looks like the sending and receiving charges could be a bit.
Essentially, whats the most efficient in terms of speed, cost and administrative hassle of sending the $30k.
#2
Re: Funds Transfer
OK - I know, I know - its another query probably previously answered but I am a little confused.
I have a UK current account - NatWest
I have a US checking account x 2
I want to transfer around £20,000/$30,000 to the US.
I am (currently) a UKC.
The folks at Natwest have, on the transfers page of their on-line banking a means to set-up international transfers. So far so good. I guess this would go via a SWIFT transaction this way.
However, from researchin around it looks like the sending and receiving charges could be a bit.
Essentially, whats the most efficient in terms of speed, cost and administrative hassle of sending the $30k.
I have a UK current account - NatWest
I have a US checking account x 2
I want to transfer around £20,000/$30,000 to the US.
I am (currently) a UKC.
The folks at Natwest have, on the transfers page of their on-line banking a means to set-up international transfers. So far so good. I guess this would go via a SWIFT transaction this way.
However, from researchin around it looks like the sending and receiving charges could be a bit.
Essentially, whats the most efficient in terms of speed, cost and administrative hassle of sending the $30k.
#3
Re: Funds Transfer
The biggest expense you face is the sh!tty FX rates that big banks give on exchange rates, compared to on-line remitters such as xe.com. You could easily lose 4-5% or more, or over £1,000 on a £30k transfer!
BTW "SWIFT" is a fancy secure telex service used almost exclusively by banks, so while your transfer may be communicated by SWIFT the funds are no more transmitted by SWIFT than they could be by fax or phone.
BTW "SWIFT" is a fancy secure telex service used almost exclusively by banks, so while your transfer may be communicated by SWIFT the funds are no more transmitted by SWIFT than they could be by fax or phone.
Last edited by Pulaski; Jul 15th 2013 at 9:39 pm.
#4
Forum Regular
Thread Starter
Joined: Jun 2013
Location: SLC, UT
Posts: 199
Re: Funds Transfer
Thanks folks - I'll take a shufty at xe. I sue them for other stuff already.
#7
Forum Regular
Thread Starter
Joined: Jun 2013
Location: SLC, UT
Posts: 199
Re: Funds Transfer
So, a bit of a late night tpyo. Definilee knot siouxing them.