Transfering money
Any issues with transfering money from uk to us bank?
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Re: Transfering money
Could post so many smart ass comments, but I won't.... Check out transferwise.
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Re: Transfering money
Can you clarify 'issues'?
Are there tax consequences of making a bank transfer? No. Just transferring money doesn't cause tax liability. Will a large bank transfer trigger money laundering reports? Yes, most likely in fact. Will a large bank transfer trigger tax authority scrutiny? Maybe. Can structuring a payment into smaller amounts help avoid scrutiny? Yes, but it is illegal (google 'structuring') Will I get a decent rate of exchange? Maybe, maybe not. Can my US bank accept a UK transfer? Depends on the bank. Some are not that advanced at international transactions. |
Re: Transfering money
Not as long as you can account for it and report it as required.
transferwise makes it easy... |
Re: Transfering money
Moved here in March 2015 and have used transferwise every month since then to move money/pay bills and ex-wife. Easy to use and much more reasonable fee than the US banks
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Re: Transfering money
I use TransferWise also, never had a problem In over 3 years. |
Re: Transfering money
I don't transfer significant sums over to the US, maybe a few thousand a year, but so far have found Revolut to be easy to use with good rates.
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Re: Transfering money
We've transferred quite a few times and always used TransferWise - they have been reliable and good rates (don't do HSBC to HSBC US to avoid fees - the rates will sting worse!)
The only issue I have is how m=bad the exchange rate is!! |
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