scrubbedexpat099

I use XE and Nat West, no problem.

I did see that Nat West now have an international transfer option on line.

Marocco

Interactive Brokers is not a Forex broker, it's meant to be used for purchasing stocks and other products worldwide. However, they have very competitive exchange rates (practically the same as the one you see on Forex live sites), and pay good interest rates on high yielding currencies, such as the AUD. As long as you use no more than one wire per month, there are no commisions or fees. The only downsides:

1. You must maintain a minimum balance of USD 10,000.
2. Unlike for banks, cash is not protected by any kind of deposit insurance. Instead you have to rely on SIPC, which theoretically applies up to USD 250,000 or equivalent, but I'm not sure how it works in practice.

jukes

yeh, still waiting for my card reader! then I can get on with it, I am assuming the rate will be better transferring from Natwest via FX.com to my Wells Fargo??
My mum transferred direct from HSBC in UK to Wells Fargo, money only took an hour to reach the US. Husband did same but Barclays to Wells Fargo, money takes 5 days to get to US, I think fees may have been same or even less with HSBC (in case anyone is interested!)

Linda44

DO XE charge a fee for GBP to USD?
Couldn't find info on their site.

We used to use HIFX and 2 days ago I logged in and it told me I couldn't perform an online transfer. I called and they told me it was no longer possible for US residents to transfer GBP to the US- something to do with US regulations.

I think my husband used XE to transfer USD to GBP when I was still in the UK because HIFX international charged, whereas XE didn't, but I seem to remember it took forever, whereas using HIFX GBP to USD the payment to them left LLoyds bank (via online banking) the same day and the $$$ were in the US bank account within 2 or 3 days

We only need GBP to USD now and they're usually less than 1000 GBP.

Jordan Tilley

If you use Moneycorps new online system you can pay via debit card which would solve the issue of having to transfer the funds. Everything can be done on line and you will have the advantage of great rates.

Visit the page below for more information.

http://exchangerates.britishexpats.com/

Bob

The rate and whether they charge or not, as well as how long it takes all depends on how you want the money transferred.

dunroving

Maybe you could tell BE folks the following:

What are the charges associated with transferring money (if any)?

How far off the GBP-USD mid-rate are your rates, in comparison to other forex companies?

The "cost" of transferring and converting currency depends not just on charges but on the exchange rate. On large amounts, a one or two cent difference in the exchange rate compared to another company can equate to considerably more than the bank charges.

Linda44

We used to be able to pay HIFX online using a debit card before we changed the address on our UK bank account to a US address.Then we had to make a payment to them via online banking. No hassle really as once you've set the "pay to" account up it's there for future payments.
Is this the same with Moneycorps?

scrubbedexpat099

? They all charge.

The question is how much, none are charities.