cookie2112

If I have a US and UK account, is the best option just to transfer from one bank to another (Wells Fargo to Halifax) or should I explore other services?

Any other things to think about? I don't want to end up on one of the border protection programs!

Pulaski

Do it bank-to-bank, as a wire and you'll get a cräppy exchange rate and get stuck with wire fees. Additional fees and poor exchange rate could easily cost you an additional 2%-5% of the amount.

Use an on-line remitter such as xe.com, xoom.com, etc, and select credit by ACH, so the receiving bank doesn't stick you with a wire fee.

Sending funds between banks in the US and UK using a remitting service is not going to cause you to be flagged in any way.

cookie2112

Thanks for the advice Pulaski

Pulaski

You're welcome.

BTW I used xe.com to transfer the net proceeds of the sale of my house, so I consider it to be safe for transferring "large" amounts.

malch

It depending what US State you want to wire the money from.

Most of the on-line service can handle UK -> California but few can handle California -> UK.

You'll need to check that out and if you're in CA choices may be limited.

Pulaski

xe.com belongs to Western Union, and AFAIK can handle transfers outwards from every state.

Sally Redux

We used HIFX coming over but I'm not sure who to use going back.

I seem to remember we still had to pay wire fees though.

Pulaski

Be sure to request "credit by ACH" (or similar, perhaps "direct credit") ..... People are tempted to, and often do, select "credit by wire" because they think that is what they are supposed to do.

durham_lad

I was also used to use HiFx using ACH (no wire fees) but a couple of years they stopped dealing with anyone with a US address. I switched to XE.com which works great in both directions.

Speedwell

I just signed up with xe.com and they needed me to call and speak to a representative to clear up a question. That taken care of, I asked if it mattered that I was moving, and they said it was fine.