Lvbrit

help! I have finally settled my Mom's estate and need to bring the only pounds I will ever inherit to USA. All articles indicate I need to use a foreign exchange agent in UK to avoid fees, get best rate etc. But I cannot find out how to choose one!
Does anyone have any experience?
Thanks

Nutmegger

When I received an inheritance, the Executor of the Estate wired it directly into my US account, in dollars, with no fees. If you do a search you will find a number of threads on the topic of inheritances, including the form to file with your US taxes. (Don't worry, it is purely informational, no taxes will be levied!)

Here is one of the threads on the topic: http://britishexpats.com/forum/showthread.php?t=787250

Pulaski

xe.com is popular with BE'ers, and I have used them myself, good rates, no wire fees, but be sure to select "credit by ACH" (or"direct transfer" or whatever it is), and NOT "credit by wire". If the sum is over $20k, you may get a better rate by phoning them (I think that is an option).

Other competing services include xoom.com, and worldfirst. Or search BE for "xe.com" and you'll find the other threads.

MMcD

http://www.xe.com/xetrade/?WT.seg_1=...-XX-V01-131001

To avoid wire fees you *definitely* want the transfer to be done by EFTS or synonymously, ACH - rather than wire

dunroving

I am constantly amazed by the patience of BE'ers who reply to this question every time it is asked.

MMcD

Me too

Pulaski

It was from such "patience" that the original "Pulaski's seven ways" originated, before it mutated into a couple of wikis. I had a Word document that I used to copy from and paste to the forum every time the visa/work question came up!

lansbury

Has the question been asked before, well I never. Search function must still be broke.

Pulaski

No. ...... At least not today!

lansbury

It needs mentioning that in some States these companies only have a license to transfer money from and to an account held by the recipient. That cannot transfer to accounts held by third parties in all States. Depends on how the are licensed in each State.

Worth mentioning because they may not be able to handle the transfer if the money originates with an executor.

Pulaski

Good point. Given that you're transferring money out of an account, at a minimum you need authority to debit that account, but I can see it might cause a problem if the sending account isn't in the remitter's own name.

Lvbrit

Thank you so much to those who answered, sorry to those were aggravated, I did actually search, to no avail!
I live in Nevada and the company advertising on this site is TOR EX. They tell me all I need to do is open an account on line , deposit funds and select my rate to transfer.
It seems suspiciously easy.
Are all the companies trading at the same rate. Are they all reputable? How do I check?

tonrob

Don't bother. Just use xe.com like everyone else.

Owen778

That seems an odd response from someone who runs a thread with thousands of posts about saving money through points. When I moved most of my savings out of the UK last year, xe's rate was OK, but there were some that gave me a significant amount more money.

tonrob

So how about listing them for the benefit of the OP?