Brat1

Guys - need more advice??

Having finally managed to obtain a rental who accepts a dog etc etc, they are asking for the security payments, first months rental etc by cheque.

I've read all the threads about transferring money through Hifx or one of the other companies, but what is the easies way to do this. Surely, if I pay by cheque from our uk bank account, the exchange rate will be rubbish. Am I missing something simple here, because I think through all the stress, my brain cells are dying by the day

Any advice or help would be appreciated - yet again.

Bob

Aye, a cheque would be pretty expensive, and more fees to cash it in....get them to provide details for a electronic deposit...

Orangepants

I used Cityforex.co.uk in the City, just off Leadenhall Market when I worked in London. Good rates and you can buy a draft in most currencies, although I mainly used wire transfer. They can do a debit from your UK current account. (Give you a better rate if you work in the financial sector).

agentred

I used xe.com to send a draft to my landlord for the first month's rent and security deposit. I think it's the easiest and cheapest method available.

It basically works out that you wire transfer money from your British bank account to xe's British bank account and then they post your landlord a cheque from their American bank. Zero fees, great exchange rates, easy for you and the landlord.

The only problem with sending a draft is the time it takes to send a physical cheque (expect around 10 calendar days). It's much easier to just do a wire transfer, in which case their American bank sends a wire transfer to the landlord's American account. That's what I use to transfer money from my British account to my American one, but my landlord is anal retentive and would only accept a cheque. Let me know if you have any Q's,

AR

Brat1

Thanks Agentred

That's good advice. I have a sneaky suspicion they will be looking for a cheque. Am I still correct in saying that if I write a cheque from our british account, they will give me a crap exchange rate. This is all so confusing.

agentred

Yes, my bank (Halifax) was not only giving a crappy exchange rate but also charging £25 on top for the privilege.

I've been through this whole process and xe seemed like the best option, I did it maybe 6 months ago and haven't found a better alternative since. Try signing up at http://www.xe.com/fx/ , it's free and easy to do (fax/scan proof of address), and then you can see what the exchange rate is. And if they say it's 1.5 dollars per pound then that's all you pay, no transfer/postage fees on top.

Disclaimer: I don't work for xe, never have, don't have anything to gain if you use them. But I have been in the same situation as you and wish someone had told me about xe and saved me the stress and headaches.

Englishtart

just one word of caution here Brat, there was a post in the MBTTUK thread not long ago, seems that there are a few scams going on with rentals being offered online recently. If you are going through a property agent, you should be fine, but just keep in mind that you need to be sure that who you are sending money too (from the UK) is genuinely the house owner of the rental (or the prop'agent)

Good luck...you are almost here!

Brat1

Thanks for that Englishtart

We have been using a realtor and she has worked really hard getting us the right rental with the dog etc. So I assume that everything will be ok as the owner of the house is using a realtor also.

Thanks for the advice.

Englishtart

You are welcome...you should be fine going through a realtor

Giantaxe

Always a good idea to check that the "owner" of the property is really the owner, and that they are current on any mortgage obligations!