els

Hi Guys, I'm new to this site and would appreciate some advice! I need to transfer some money (international wire) back to my account in the UK. The banks over here charge a tonne of cash for it. The cheapest I managed to find was HSBC for $30 per transaction. Do any of you know any other banks that might offer a cheaper rate, Washington Mutual wanted $45 per transaction!!
Cheers guys,
Els

yorkshire_lass

I have just been looking into this too. I became quite confused as the poor girl at the bank tried to explain to me about their charge, the 'middle' bank's change and the destination bank's charge Then she said maybe it would be better to get a bank draft rather than a wire transfer and that would cost $27.50....... hmm, I don't mind paying that as a one off but I want to find a cheap way to send monthly amounts back.

TRPardoe

Use XE Trade

Good Rates - No Fees - Very Quick - Very Reliable

tony126

Seconded.

BigDavyG

If you send a wire xe will charge a minimal fee for that and your UK bank will still prob rip you off for accepting it.
Sending a draft with them is basically free.

They are very good.

skybluesue

I`ve been sending money home for three years now...paying the bank fee every time..thinking it was the only option
I will look into this site Thanks

BigDavyG

Don't be put off by the vetting process at the start - that's probably the only complication you'll ever have with them.

BritGuyTN

Yup, I was the original XE fanboy and I've not had an issue in nearly 4 years, and no posters have come back with any issues, apart from the new security process at the start, which although is a pain in the arse, it good from a security perspective

Big D

and it makes sure that you cant launder the 40m quid you nicked yesterday in a daring heist....

Elvira

Are they safe for really large amounts? Like 6-figures...

BigDavyG

I couldn't comment on that - I usually move a few $k at a time.
I have heard of people using them to move proceeds of house sales, but to be honest unless I used a big bank for something that big I would be crapping my pants. However using xe for a 6 figure sum would save you a very significant amount when compared with a bank.
I am going home in June for a wedding and will happily bring a few quid across the pond for you if you want

Elvira

Anybody else have any comments or experiences to share re. transferring very large amounts via XE?

BritGuyTN

I've transferred about 200k USD from uk to usa using xe

i just split it up into a few transactions of 25k each (averages out the exchange rate also)

my limitation is that natwest only allow 10k per day gbp trasfer from online banking

all i did was let xe know this by email and their was no probs

NO FEES NO COMMISSION

defo saved me a LOT of cash

els

THanks for your replies. Isn't XE a currency conversion site? I didn't realise they did wires.
Els

BigDavyG

neither did i but there's a link there somewhere
or you can go direct - www.xetrade.com