Money transfers
Jul 18th 2005, 2:40 am
#1
Just Joined
Thread Starter
Joined: Jul 2005
Posts: 18
Money transfers
Hello,
I am currently withdrawing funds from my bank in the UK at local ATMS. But, they are charging me $60 per transaction of $500. I have just opened an account with Bank of America-is there a cheaper way of getting cash from my account in the UK? Someone mentioned 'Wire transfers' does anyone have any information on them?
I am currently withdrawing funds from my bank in the UK at local ATMS. But, they are charging me $60 per transaction of $500. I have just opened an account with Bank of America-is there a cheaper way of getting cash from my account in the UK? Someone mentioned 'Wire transfers' does anyone have any information on them?
Last edited by CKM8; Jul 18th 2005 at 2:42 am. Reason: more information
Jul 18th 2005, 3:20 am
#2
Guest
Posts: n/a
Re: Money transfers
Originally Posted by CKM8
Hello,
I am currently withdrawing funds from my bank in the UK at local ATMS. But, they are charging me $60 per transaction of $500. I have just opened an account with Bank of America-is there a cheaper way of getting cash from my account in the UK? Someone mentioned 'Wire transfers' does anyone have any information on them?
I am currently withdrawing funds from my bank in the UK at local ATMS. But, they are charging me $60 per transaction of $500. I have just opened an account with Bank of America-is there a cheaper way of getting cash from my account in the UK? Someone mentioned 'Wire transfers' does anyone have any information on them?
Jul 18th 2005, 3:23 am
#3
Forum Regular
Joined: Sep 2004
Posts: 212
Re: Money transfers
Originally Posted by CKM8
Hello,
I am currently withdrawing funds from my bank in the UK at local ATMS. But, they are charging me $60 per transaction of $500. I have just opened an account with Bank of America-is there a cheaper way of getting cash from my account in the UK? Someone mentioned 'Wire transfers' does anyone have any information on them?
I am currently withdrawing funds from my bank in the UK at local ATMS. But, they are charging me $60 per transaction of $500. I have just opened an account with Bank of America-is there a cheaper way of getting cash from my account in the UK? Someone mentioned 'Wire transfers' does anyone have any information on them?
that sounds very high
i use wells fargo and its $2 or $5 to get your daily limit usually $500
last time i did it was oct2004 unless things have changed
G
Jul 18th 2005, 3:27 am
#4
Not living a 9 to 5 life
Joined: Jun 2002
Location: North Carolina
Posts: 11,061
Re: Money transfers
Originally Posted by CKM8
Hello,
I am currently withdrawing funds from my bank in the UK at local ATMS. But, they are charging me $60 per transaction of $500. I have just opened an account with Bank of America-is there a cheaper way of getting cash from my account in the UK? Someone mentioned 'Wire transfers' does anyone have any information on them?
I am currently withdrawing funds from my bank in the UK at local ATMS. But, they are charging me $60 per transaction of $500. I have just opened an account with Bank of America-is there a cheaper way of getting cash from my account in the UK? Someone mentioned 'Wire transfers' does anyone have any information on them?
NC Penguin
Jul 18th 2005, 3:34 am
#5
Powder Maggot
Joined: Nov 2004
Location: Nuevo Mexico
Posts: 4,452
Re: Money transfers
Originally Posted by CKM8
$60 per transaction of $500.
Jul 18th 2005, 3:38 am
#6
Forum Regular
Joined: Sep 2004
Posts: 212
Re: Money transfers
Originally Posted by CKM8
Hello,
I am currently withdrawing funds from my bank in the UK at local ATMS. But, they are charging me $60 per transaction of $500. I have just opened an account with Bank of America-is there a cheaper way of getting cash from my account in the UK? Someone mentioned 'Wire transfers' does anyone have any information on them?
I am currently withdrawing funds from my bank in the UK at local ATMS. But, they are charging me $60 per transaction of $500. I have just opened an account with Bank of America-is there a cheaper way of getting cash from my account in the UK? Someone mentioned 'Wire transfers' does anyone have any information on them?
OK just called wells fargo fee is $5 per transaction
i went to Bof A website but it didnt say but should be similar
G
Jul 18th 2005, 3:39 am
#7
Guest
Posts: n/a
Re: Money transfers
Originally Posted by garfro
that sounds very high
i use wells fargo and its $2 or $5 to get your daily limit usually $500
last time i did it was oct2004 unless things have changed
G
i use wells fargo and its $2 or $5 to get your daily limit usually $500
last time i did it was oct2004 unless things have changed
G
Jul 18th 2005, 4:24 am
#8
Septicity
Joined: May 2004
Posts: 23,762
Re: Money transfers
Might be helpful if we knew which UK bank. For example, Barclays has an agreement with BoA whereby withdrawals from BoA ATMs are very cheap.
Jul 18th 2005, 8:30 am
#9
Mr. Grumpy
Joined: Jun 2003
Location: Nashville, TN
Posts: 3,100
Re: Money transfers
Originally Posted by CKM8
Hello,
I am currently withdrawing funds from my bank in the UK at local ATMS. But, they are charging me $60 per transaction of $500. I have just opened an account with Bank of America-is there a cheaper way of getting cash from my account in the UK? Someone mentioned 'Wire transfers' does anyone have any information on them?
I am currently withdrawing funds from my bank in the UK at local ATMS. But, they are charging me $60 per transaction of $500. I have just opened an account with Bank of America-is there a cheaper way of getting cash from my account in the UK? Someone mentioned 'Wire transfers' does anyone have any information on them?
go to www.xe.com and open an xetrade account
no transaction fees of any kind, a great rate and funds are normally in the US bank account in 4 days
I use the service fairly often for three years with no issues and other posters have had no problems
Jul 18th 2005, 2:10 pm
#10
BE Forum Addict
Joined: Oct 2004
Location: The Big Apple
Posts: 1,834
Re: Money transfers
buy a shed load of travellers cheques from the UK and pay them into your new account? Might be alogistical problem with you being over here though...
Jul 18th 2005, 2:42 pm
#11
Gone but not forgotten. RIP
Joined: Apr 2001
Posts: 1,570
Re: Money transfers
Originally Posted by CKM8
Hello,
I am currently withdrawing funds from my bank in the UK at local ATMS. But, they are charging me $60 per transaction of $500. I have just opened an account with Bank of America-is there a cheaper way of getting cash from my account in the UK? Someone mentioned 'Wire transfers' does anyone have any information on them?
I am currently withdrawing funds from my bank in the UK at local ATMS. But, they are charging me $60 per transaction of $500. I have just opened an account with Bank of America-is there a cheaper way of getting cash from my account in the UK? Someone mentioned 'Wire transfers' does anyone have any information on them?
Like somebody else said - open an XE.com account.
My ancient UK building society doesn't have electronic transfers to the US and needs to have my BS book to make a transaction. I still manage to get a transfer in 3 days for less than $60 despite using UPS Express.
Jul 18th 2005, 2:49 pm
#12
Account Closed
Joined: Jul 2003
Posts: 853
Re: Money transfers
Originally Posted by CKM8
Hello,
I am currently withdrawing funds from my bank in the UK at local ATMS. But, they are charging me $60 per transaction of $500. I have just opened an account with Bank of America-is there a cheaper way of getting cash from my account in the UK? Someone mentioned 'Wire transfers' does anyone have any information on them?
I am currently withdrawing funds from my bank in the UK at local ATMS. But, they are charging me $60 per transaction of $500. I have just opened an account with Bank of America-is there a cheaper way of getting cash from my account in the UK? Someone mentioned 'Wire transfers' does anyone have any information on them?
Until earlier this year I was doing the same thing - using ATM to get funds from my UK bank account, but the most I ever had to pay was around $2.75 to get $300. Even at the little ATM in the local supermarket it was only a few cents more.
Your $60 fee sounds more like the bank transfer fee I paid when I transferred money to buy the house here. I think that is what is known as "wire transfer". I sent the bank a request using fax, after having arranged for "fax indemnity" and obtaining all the information I'd need before I left the UK. The fee was somewhere between 25 and 30 pounds I think.
If you need to make a bank transfer I'd telephone your UK bank and ask for advice.
Jul 18th 2005, 2:57 pm
#13
BE Forum Addict
Joined: Oct 2004
Location: The Big Apple
Posts: 1,834
Re: Money transfers
Originally Posted by Dimsie
Until earlier this year I was doing the same thing - using ATM to get funds from my UK bank account, but the most I ever had to pay was around $2.75 to get $300. Even at the little ATM in the local supermarket it was only a few cents more.
Your $60 fee sounds more like the bank transfer fee I paid when I transferred money to buy the house here. I think that is what is known as "wire transfer". I sent the bank a request using fax, after having arranged for "fax indemnity" and obtaining all the information I'd need before I left the UK. The fee was somewhere between 25 and 30 pounds I think.
If you need to make a bank transfer I'd telephone your UK bank and ask for advice.
Your $60 fee sounds more like the bank transfer fee I paid when I transferred money to buy the house here. I think that is what is known as "wire transfer". I sent the bank a request using fax, after having arranged for "fax indemnity" and obtaining all the information I'd need before I left the UK. The fee was somewhere between 25 and 30 pounds I think.
If you need to make a bank transfer I'd telephone your UK bank and ask for advice.
I would take care what you tell you UK bank about your move to the States - they may make you close your UK account, or call in any credit cards, loans or mortgages you may have with them
Jul 18th 2005, 5:10 pm
#14
Just Joined
Thread Starter
Joined: Jul 2005
Posts: 18
Re: Money transfers
Originally Posted by ImHere
What bank in the UK so you use? If they have internet banking you should be able to transfer it that way. Alternatively use a UK credit card and pay it off using the UK bank account. We do that occaisionally and it means we get the exchange rate on purchases. Nice.
Jul 18th 2005, 5:12 pm
#15
Septicity
Joined: May 2004
Posts: 23,762
Re: Money transfers
Originally Posted by CKM8
Barclays Bank..