transfering money from uk to usa
Apr 9th 2001, 12:20 pm
#1
Forum Regular
Thread Starter
Joined: Mar 2001
Posts: 185
Does anyone know of a fast and painless way to transfer a money (less than 10,000) from the uk to the usa with losing to much to fees, had though about keeping it in the bank and using atm card to get it out but this costs money every time, and travels checks but again we would be paying a decent size fee, and the last though was some how wiring the money. Any other suggestions? what has worked best for other people, goal here would be least fees paid out, fast and easy. Thanks in advance
Apr 9th 2001, 12:46 pm
#2
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Posts: n/a
From personal experience, the Auto Teller is the best way, change to a bank with the
minimum fees and then increase the maximum limit per day to the maximum the bank will
allow. This works from Australia anyway, as it cost me a small fortune to wire my
fiancee money and she got charged by her US bank as well. Changing currency in the US
attracted huge fees from the money change people. My bank charges AU$4 per ATM
withdrawl in the US plus the US banks charged me US$1 per withdrawl. So pretty cheap,
my maximum per withdrawl was set for US$1000 so you might have it all in hand in
under two weeks. This has also been the advice recieved from many friends who travel
internationally as part of their work, none of them ever carry travelers checks
unless going to a country without ATM coverage. Another way if you have a Visa card
is to deposit it into the Visa A/C and use that to shop in the US until the money is
gone. There are fee's attached to this but you will have to check the fees involved.
Hope this helps. Kelly
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minimum fees and then increase the maximum limit per day to the maximum the bank will
allow. This works from Australia anyway, as it cost me a small fortune to wire my
fiancee money and she got charged by her US bank as well. Changing currency in the US
attracted huge fees from the money change people. My bank charges AU$4 per ATM
withdrawl in the US plus the US banks charged me US$1 per withdrawl. So pretty cheap,
my maximum per withdrawl was set for US$1000 so you might have it all in hand in
under two weeks. This has also been the advice recieved from many friends who travel
internationally as part of their work, none of them ever carry travelers checks
unless going to a country without ATM coverage. Another way if you have a Visa card
is to deposit it into the Visa A/C and use that to shop in the US until the money is
gone. There are fee's attached to this but you will have to check the fees involved.
Hope this helps. Kelly
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Apr 9th 2001, 12:53 pm
#3
Guest
Posts: n/a
When I get to the US, I'm planning to open a bank account and use barclays on line
banking to transfer the money from the UK into my shiny new US bank account.
Roger
banking to transfer the money from the UK into my shiny new US bank account.
Roger
Apr 9th 2001, 3:14 pm
#4
Guest
Posts: n/a
We just opened a bank account for Eddie in the U.S. Even without a social security
number, there was no problem. The person who opened the account suggested he get a
money order in U.S. funds and simply send it to me to deposit to his account. That
way the fees are minimal, and he has some control over the exchange rate. He gets an
ATM/Visa and checks as part of his account, so he'll have resources of his own as
soon as he comes to the U.S. Good Luck.
Diane M.
smldnabjp wrote:
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number, there was no problem. The person who opened the account suggested he get a
money order in U.S. funds and simply send it to me to deposit to his account. That
way the fees are minimal, and he has some control over the exchange rate. He gets an
ATM/Visa and checks as part of his account, so he'll have resources of his own as
soon as he comes to the U.S. Good Luck.
Diane M.
smldnabjp wrote:
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Apr 9th 2001, 5:53 pm
#5
Guest
Posts: n/a
I recently transferred $3500 from my UK bank (Co-op) to my USA bank (B of A) and I
used a Tipanet transfer which cost me 8 UK Pounds (about $12)
Denis
--
Insanity is hereditary, you get it from your kids!
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used a Tipanet transfer which cost me 8 UK Pounds (about $12)
Denis
--
Insanity is hereditary, you get it from your kids!
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Apr 9th 2001, 6:08 pm
#6
Guest
Posts: n/a
I'm also told that you can do this through Citibank.. they have an office in London
near Trafalgar Square. Just put the pounds in, and watch them magically transform to
dollars on the other side.
-Rob
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near Trafalgar Square. Just put the pounds in, and watch them magically transform to
dollars on the other side.
-Rob
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Apr 9th 2001, 6:38 pm
#7
Guest
Posts: n/a
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I've been doing this ever since I got out here to the US.
I arrived with $100 in my wallet & my ATM card from my bank in Britain, (HSBC), as
the money is now running out in this account, (I hadn't intended to stay on in the
States originally), I don't have to worry too much about transference of funds.
However, I would have a good $50 more in my account if it wasn't for the $1.50/$2.00
a time bank charges!
In fact, as I can set up an automatic payment process for the Credit Cards I have
with HSBC, I am seriously thinking of keeping the account open & just sending Mum
back in the UK a $100 bill once a month for her to exchange into Sterling and pay
into my account.
Has anyone got a better suggestion for sorting out Credit Card payments/debts,
(around 2K Sterling)?
Also, do I need a SS number to had in order to open a bank account here in the US, (I
now have my EA card I will be earning soon... I hope!)?
Cheers, Mark.
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I've been doing this ever since I got out here to the US.
I arrived with $100 in my wallet & my ATM card from my bank in Britain, (HSBC), as
the money is now running out in this account, (I hadn't intended to stay on in the
States originally), I don't have to worry too much about transference of funds.
However, I would have a good $50 more in my account if it wasn't for the $1.50/$2.00
a time bank charges!
In fact, as I can set up an automatic payment process for the Credit Cards I have
with HSBC, I am seriously thinking of keeping the account open & just sending Mum
back in the UK a $100 bill once a month for her to exchange into Sterling and pay
into my account.
Has anyone got a better suggestion for sorting out Credit Card payments/debts,
(around 2K Sterling)?
Also, do I need a SS number to had in order to open a bank account here in the US, (I
now have my EA card I will be earning soon... I hope!)?
Cheers, Mark.
Apr 9th 2001, 7:39 pm
#8
Guest
Posts: n/a
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You can do this through the postoffice. I recently had a couple of thousand pounds
sent, and it only cost 50ukp or so. In the US (at least, here in GA) you go to any
ACE Cash store to receive your money.
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You can do this through the postoffice. I recently had a couple of thousand pounds
sent, and it only cost 50ukp or so. In the US (at least, here in GA) you go to any
ACE Cash store to receive your money.
Apr 10th 2001, 12:44 am
#9
Guest
Posts: n/a
From my experience working in banking, I would recommend a wire transfer. There is
nothing to be lost, the bank does all the work (and unless the amount of money
involved is very small, the fees of about $25 each end will be worth it, especaily
considering the favorable exchange rate between the UK and the US), and an
international wire only takes about 3 business days to go through.
Alternatively, you could write a check and deposit it, but there will be exchange
fees, and it can take weeks to clear, even if it is written in US funds. (the same
holds true for money orders, which someone mentioned. If drawn on a foreign bank, the
clearing time can take weeks. If you don't need access to the funds, that may not be
a problem).
If it helps, businesses with international offices use wire transfers almost
exclusively.
The Tipanet transfer someone mentioned is not familiar to me. You may want to look
into that as well.
Good luck, Beth
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nothing to be lost, the bank does all the work (and unless the amount of money
involved is very small, the fees of about $25 each end will be worth it, especaily
considering the favorable exchange rate between the UK and the US), and an
international wire only takes about 3 business days to go through.
Alternatively, you could write a check and deposit it, but there will be exchange
fees, and it can take weeks to clear, even if it is written in US funds. (the same
holds true for money orders, which someone mentioned. If drawn on a foreign bank, the
clearing time can take weeks. If you don't need access to the funds, that may not be
a problem).
If it helps, businesses with international offices use wire transfers almost
exclusively.
The Tipanet transfer someone mentioned is not familiar to me. You may want to look
into that as well.
Good luck, Beth
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Apr 10th 2001, 2:02 am
#10
Guest
Posts: n/a
I don't know bout the UK. But I can get a US money order / bank draft for any amount
for $5 CDN at any bank. I can't see this being much higher in other countries.
If your concerned about making it out to yourself without any way of depositing it
right away (IE, no US bank account). Make it out to your fiance.
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for $5 CDN at any bank. I can't see this being much higher in other countries.
If your concerned about making it out to yourself without any way of depositing it
right away (IE, no US bank account). Make it out to your fiance.
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Apr 10th 2001, 2:07 am
#11
Guest
Posts: n/a
In the case of the money order. If the US fiance has been a customer of the bank for
a long period of time, do most banks not waive this clearing time??
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need
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almost
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[usenetquote2]> > Does anyone know of a fast and painless way to transfer a money (less than[/usenetquote2]
[usenetquote2]> > 10,000) for the uk to the usa with losing to much to fees, had though about[/usenetquote2]
[usenetquote2]> > keeping it in the bank and using amt card to get it out but this costs money[/usenetquote2]
[usenetquote2]> > every time, and travels checks but again we would be paying a decent size fee,[/usenetquote2]
[usenetquote2]> > and the last though was some how wiring the money. Any other suggestions? what[/usenetquote2]
[usenetquote2]> > has worked best for other people, goal here would be least fees paid out, fast[/usenetquote2]
[usenetquote2]> > and easy. Thanks in advance[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > --[/usenetquote2]
a long period of time, do most banks not waive this clearing time??
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will
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need
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almost
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[usenetquote2]> > Does anyone know of a fast and painless way to transfer a money (less than[/usenetquote2]
[usenetquote2]> > 10,000) for the uk to the usa with losing to much to fees, had though about[/usenetquote2]
[usenetquote2]> > keeping it in the bank and using amt card to get it out but this costs money[/usenetquote2]
[usenetquote2]> > every time, and travels checks but again we would be paying a decent size fee,[/usenetquote2]
[usenetquote2]> > and the last though was some how wiring the money. Any other suggestions? what[/usenetquote2]
[usenetquote2]> > has worked best for other people, goal here would be least fees paid out, fast[/usenetquote2]
[usenetquote2]> > and easy. Thanks in advance[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > --[/usenetquote2]
Apr 10th 2001, 3:26 am
#12
Guest
Posts: n/a
My fiancé just opened an account at Bank of America, and they needed to fill out some
special paperwork because he didn't have a social security number (he doesn't even
have the K-1 Visa yet, and is still a resident of Quebec - and that is the address on
the account) but there was no problem. They just needed his passport and another form
of photo I.D. They could not, however, open a joint account for both of us.
Apparently in order to do that he would have needed a social security number.
Diane M.
Mark Duddridge wrote:
[usenetquote2]> > ....keeping it in the bank and using amt card to get it out but this costs money[/usenetquote2]
[usenetquote2]> > every time....[/usenetquote2]
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special paperwork because he didn't have a social security number (he doesn't even
have the K-1 Visa yet, and is still a resident of Quebec - and that is the address on
the account) but there was no problem. They just needed his passport and another form
of photo I.D. They could not, however, open a joint account for both of us.
Apparently in order to do that he would have needed a social security number.
Diane M.
Mark Duddridge wrote:
[usenetquote2]> > ....keeping it in the bank and using amt card to get it out but this costs money[/usenetquote2]
[usenetquote2]> > every time....[/usenetquote2]
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Apr 10th 2001, 5:08 pm
#13
Guest
Posts: n/a
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Whichever way you do it be careful about the exchange rate, check with your UK bank
first as to how much you'll really get.
--
paul 58-77 Sheffield 77-79 Coventry 79-88 Sheffield 88-97 Milton Keynes 97-99 London
99-00 Seattle 00-?? Fremont
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Whichever way you do it be careful about the exchange rate, check with your UK bank
first as to how much you'll really get.
--
paul 58-77 Sheffield 77-79 Coventry 79-88 Sheffield 88-97 Milton Keynes 97-99 London
99-00 Seattle 00-?? Fremont
Apr 10th 2001, 9:38 pm
#14
Guest
Posts: n/a
Depends on the amount of the money, probably.
The largish bank I worked for did not make foreign funds available early, even to
their regular business customers; fraud is too easy, and the depositing customer
can be duped.
Beth
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[usenetquote2]>>[/usenetquote2]
[usenetquote2]>>[/usenetquote2]
[usenetquote2]>> > Does anyone know of a fast and painless way to transfer a money (less than[/usenetquote2]
[usenetquote2]>> > 10,000) for the uk to the usa with losing to much to fees, had though about[/usenetquote2]
[usenetquote2]>> > keeping it in the bank and using amt card to get it out but this costs money[/usenetquote2]
[usenetquote2]>> > every time, and travels checks but again we would be paying a decent size fee,[/usenetquote2]
[usenetquote2]>> > and the last though was some how wiring the money. Any other suggestions? what[/usenetquote2]
[usenetquote2]>> > has worked best for other people, goal here would be least fees paid out, fast[/usenetquote2]
[usenetquote2]>> > and easy. Thanks in advance[/usenetquote2]
[usenetquote2]>> >[/usenetquote2]
[usenetquote2]>> >[/usenetquote2]
[usenetquote2]>> > --[/usenetquote2]
The largish bank I worked for did not make foreign funds available early, even to
their regular business customers; fraud is too easy, and the depositing customer
can be duped.
Beth
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[usenetquote2]>>[/usenetquote2]
[usenetquote2]>>[/usenetquote2]
[usenetquote2]>> > Does anyone know of a fast and painless way to transfer a money (less than[/usenetquote2]
[usenetquote2]>> > 10,000) for the uk to the usa with losing to much to fees, had though about[/usenetquote2]
[usenetquote2]>> > keeping it in the bank and using amt card to get it out but this costs money[/usenetquote2]
[usenetquote2]>> > every time, and travels checks but again we would be paying a decent size fee,[/usenetquote2]
[usenetquote2]>> > and the last though was some how wiring the money. Any other suggestions? what[/usenetquote2]
[usenetquote2]>> > has worked best for other people, goal here would be least fees paid out, fast[/usenetquote2]
[usenetquote2]>> > and easy. Thanks in advance[/usenetquote2]
[usenetquote2]>> >[/usenetquote2]
[usenetquote2]>> >[/usenetquote2]
[usenetquote2]>> > --[/usenetquote2]
Apr 11th 2001, 2:47 am
#15
Forum Regular
Thread Starter
Joined: Mar 2001
Posts: 185
I just wanted to say a great big thanks to everyone who replied, I forwarded the information to my fiance and will let him figure out what will work best in the end.