How to send UK wire transfers while out of the country?
 

I am currently studying in the USA and all my cash is in the UK. I have signed up with XE.com who will trade £ into $ without the disgusting bank exchange rate or % off the top.. but I have to Wire XE.com the money from my UK bank.. I don't know how to do this with Natwest, they don't make it clear online at all and I cant contact them quickly (obviously). How can I wire the money to XE.com?!

My tuition is due so I need this ASAP.. my only other alternative is using my UK debit card and getting an awful rate.

Re: How to send UK wire transfers while out of the country?
 

anyone? Just found out Natwest will offer 1.5 exchange rate + 2.75% which would be a bitter pill to swallow when I could save hundreds just by wiring to XE

Re: How to send UK wire transfers while out of the country?
 

I've only used UKForex, and they told me what information I'd need to transfer the money, and my bank allowed me to do it online. Has XE given you any information?

Edited to add - with my bank I could initiate an electronic fund transfer through my online account. Will Natwest let you do this?

Re: How to send UK wire transfers while out of the country?
 

I think it's different bank to bank. We are with Santander and can do it online, but we need to be text messaged a one time passcode to allow us to transfer the money. A word of warning though, unless Natwest is fabulous, you won't get the money quickly. Santander is particularly rubbish, but I think in general UK banks say it takes up to 3-4 working days to transfer the money. We couldn't do the wiring over night option with Santander as you had to be in the UK to go into a branch.

Re: How to send UK wire transfers while out of the country?
 

UKForex bank with Barclays so anyone transferring from a Barclays account gets a fast transfer. My bank isn't Barclays and it usually takes 2-3 working days, depending on how early in the (UK) morning I make the request.

Re: How to send UK wire transfers while out of the country?
 

no Natwest doesnt let me pay online.. only transfer to another account with sort code and account number info (UK only) or pay a defined bill.. this is the problem, i can get the info from XE.com but i cant initiate it from my end to go out of my Natwest account (and making new bank accounts is not an option)

Re: How to send UK wire transfers while out of the country?
 

But hasn't XE given you a sort code and account number? That's what UKFOrex does, and I do an online transfer to their account.

I would contact XE and ask them for help - I'm sure you're not the first Natwest customer living overseas.

Re: How to send UK wire transfers while out of the country?
 

Yes, provided you can send a BACS transfer to a sort code and account number of your choice, you're good. You don't need to be able to "wire". When you set up the trade with XE, they tell you the sort code, account number and a reference to use. It's XE's UK bank account, so it's just like any other UK transfer.

It seems different banks have different security procedures for online transfers. For example, with Lloyds, they have "Pay a company" which lets you choose from preset accounts and "Pay a person" where you can enter any sort code/account, but then you have to answer an automated call to the phone number they have on file to authorise the transfer.

Re: How to send UK wire transfers while out of the country?
 

Sorry - slightly OT, but only slightly...
I am looking at doing some transfers as well, and I normally use First Direct, with a UKPDS10 charge. Given the comments on here about ripoff bank rates, I decided to check around so registered with UKForex and xe.com. Its the first time I've done the comparison - always just gone the easy route of using FD - and I was a bit surprised at the results....
Current levels as of this morning basis ukpds25000:
FD - 1.583
UKFOREX - 1.5753
XE.COM - 1.5679.
So the better exchange rate from FD easily more than offsets the 10 charge.....
Worth doing your homework every time from the looks of it.

Re: How to send UK wire transfers while out of the country?
 

Agree with other posters above, UKForex gives you bank account and sort code details, you just set up the recipient US bank account in your online console on thier website. Seal the deal online, send them the cash via online banking, and the cash arrives in your US account a matter of days later.

I do happen to bank with Barclays - and the most it's ever taken with me is 3 days, usually it's 2 (that's from sending them the cash via Barclays online banking, to it clearing into my US account).

I can't recommend UKForex highly enough, they are fantastic.

Re: How to send UK wire transfers while out of the country?
 

Hmm - I just had a call from UKforex (well, a couple of hours ago) apologizing for a glitch in their system that allowed me to register with a Texas address. Apparently they are not licenced to do business in Texas, but could still work with me if I could provide a UK address.