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sending money

Old Jun 20th 2003, 10:40 pm
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What is the quickest way to send money from uk to us bank account?
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Old Jun 20th 2003, 11:14 pm
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I don't know, but I would love to find out how to transfer money from the US back to the UK.
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Old Jun 21st 2003, 1:52 am
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Default Re: sending money

Originally posted by abb
What is the quickest way to send money from uk to us bank account?
Citibank has a service called C2it. I've never tried it, but supposedly it's like a Paypal but works internationally. There's also a fee for international transactions.

It kinda blows me away that in this information age with electronic money, it's still a tricky issue to move money between countries for a reasonable price. Wire transfers bend you over. What if I want to work abroad for a year, and use my credit cards? It seems I would have to pay my credit cards by using C2it to wire foreign money into my american checking account.. which is like $10 per transaction or something. Rediculous. Am I missing something? My German roommate who lives here in the US runs into these issues, and I think he just tries to avoid moving money back and forth whenever possible.
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Old Jun 21st 2003, 3:16 am
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Default Re: sending money

Originally posted by abb
What is the quickest way to send money from uk to us bank account?
Just contact the international division of your UK bank and ask them to tranfer funds to your US bank, giving them the routeing number and the account number...
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Old Jun 21st 2003, 3:50 am
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Default Re: sending money

Originally posted by ray6
Just contact the international division of your UK bank and ask them to tranfer funds to your US bank, giving them the routeing number and the account number...
They charge like $15 per transfer to do that kind of overseas transfer.. at least, if the funds come from Germany that's how it is.. c2it is probably the cheapest way to go.

I guess it depends on the amount.. for large amounts, like $10k, 15 USD is nothing.. but for small amounts, it might make more sense to send cash in the mail, and insure the envelope, and deal with exchange fees.
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Old Jun 21st 2003, 4:55 pm
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Citibank - also have US dollar accounts for UK citizens so it is as quick as going on line and doing it yourself. Other than that give me the cash and I wil take it for you - honest!
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Old Jun 23rd 2003, 3:42 pm
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Default Re: sending money

Originally posted by jgombos
They charge like $15 per transfer to do that kind of overseas transfer.. at least, if the funds come from Germany that's how it is.. c2it is probably the cheapest way to go.

I guess it depends on the amount.. for large amounts, like $10k, 15 USD is nothing.. but for small amounts, it might make more sense to send cash in the mail, and insure the envelope, and deal with exchange fees.
I don't think sending cash in the mail is a particularly safe idea, even if you insure the contents (don't you have to state the contents of the envelope when you purchase the insurance?)

Also, the OP poster was asking for the quickest way to send money. The speed of mail is probably slower than having a bank to bank transfer. It's a minimum of five (business) days from the US to UK (and vice versa) in my experience.



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Old Jun 24th 2003, 3:25 am
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I opened up accounts with HSBC in Jersey- I get money from UK banks paid into the checking account and can withdraw it here in the US in dollars using my switchcard at a cirrus ATM. HSBC changes it at that day's exchange rate and for lower charges than electronic transfer - which is usually a standard charge whatever the amount and then your US bank may also charge too.
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Old Jun 24th 2003, 4:29 pm
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use www.xe.com

it is cheap and relatively fast
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Old Jul 11th 2003, 1:20 pm
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Has anyone tried these guys?

http://www.onlinefx.co.uk/content/services/imt.asp

Free for amounts over £10K ...
but how do I know they are legit?

We will (hopefully) need to tranfer loadzamoney after we sell our flat - any suggestions for getting the money to the USA?

Thanx for any help
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Old Jul 11th 2003, 7:03 pm
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honestly - use xe.com

they have great rates, online transfer process and seem very reliable

AND there is no fee no matter what amount you transfer
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Old Jul 12th 2003, 3:39 am
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For heavens sake, if you are transferring your entire life's net worth why worry about saving £30 in fees.

Bite the bullet, go to your own bank and tell them to transfer the money, and if it is more than about £10,000 that you want the wholesale rate.

It won't cost you an arm and leg and you'll have the comfort of knowing that your money is in the hands of long standing businesses regulated by the Bank of England and the Federal Reserve Bank. How would you even begin to trace where your money had gone if some internet business lost it?
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Old Jul 12th 2003, 7:58 am
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Yeah. We came to the same conclusion re transfer of life's net worth (!). (You have quite the turn of phrase, Pulaski)

But, the thing is, this question, that is, sending money (not life's net worth), does seem to come up regularly...it would be nice to know a cheap & reliable way to do it, esp as it is unlikely to all occur in one lump sum. oh well. I was just hoping that this forum was going to have all of the answers (I am hoping for plentiful jobs in NC as well, not to mention world peace...). Perhaps I should just sign myself Pollyanna...

And yes, I am american - repatriating after 17 years in London. Am I allowed in this forum ?
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Old Jul 12th 2003, 8:29 am
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Default PayPal

indeed i agree... when transferring large sums of money.. perhaps proceedsd of sale of your proeprty etc... then do it through your Bank.. when dealing with such large amounts of money why worry about losing the cost of an evening out..

if you are selling your property and its the proceeds of sale that you wish to transfer let your solicitor know right at the start and they will get the forms required from the bank and you can fill them in at your leisure... its very straightforward to do...

if its small amounts of money.. there are a number of options open to you... my fiance just sends me a money order by registered mail... but that has its draw backs in that, in my experience, you get hit for commission and usually from sending to actually having the money credited to the account it takes on average two weeks...

a suggestion from another board member was PayPal... if you upgrade to their Premium Service... for which there is no fee... you can request TWO debit cards... one in the USC's name and one in the other's name... the USC just puts money into the PayPal account.. and the fiance(e) in the other country can then either withdraw the money through an ATM.. (NatWest and HSBC being the banks who DEFINATELY allow it) or use the card to pay for goods in shops.. like any other DEBIT card...

hope that helps...

Bee
UK to USA
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Old Jul 12th 2003, 11:58 am
  #15  
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Default Re: PayPal

Originally posted by [email protected]
indeed i agree... when transferring large sums of money.. perhaps proceedsd of sale of your proeprty etc... then do it through your Bank.. when dealing with such large amounts of money why worry about losing the cost of an evening out..

if you are selling your property and its the proceeds of sale that you wish to transfer let your solicitor know right at the start and they will get the forms required from the bank and you can fill them in at your leisure... its very straightforward to do...

if its small amounts of money.. there are a number of options open to you... my fiance just sends me a money order by registered mail... but that has its draw backs in that, in my experience, you get hit for commission and usually from sending to actually having the money credited to the account it takes on average two weeks...

a suggestion from another board member was PayPal... if you upgrade to their Premium Service... for which there is no fee... you can request TWO debit cards... one in the USC's name and one in the other's name... the USC just puts money into the PayPal account.. and the fiance(e) in the other country can then either withdraw the money through an ATM.. (NatWest and HSBC being the banks who DEFINATELY allow it) or use the card to pay for goods in shops.. like any other DEBIT card...

hope that helps...

Bee
UK to USA
It's not quite the cost of a night-out though, unless you go to very expensive restaurants....when I moved 10k uk pounds, the charge was 15 pounds plus the difference between the 'quoted exchange rate' and what the bank could give me - about 1/2 a percent. Multiplied by 10000 pounds, so it all cost $500, plus the UK charge, plus the charge by the US bank for receiving the money (chancers....) $40.

Sam.
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