Transferring Large Sums
#1
Thread Starter
Forum Regular


Joined: Jan 2016
Posts: 71
From: Northern California











I'm about to transfer the proceeds from the sale of my house in the UK to the USA. I usually use Transferwise to move money, but the amount exceeds their limit. Has anyone else used another company that they can recommend? I don't really want to just do a bank to bank transfer.
#2
BE Forum Addict







Joined: Aug 2013
Posts: 2,218
From: Athens GA











I'm about to transfer the proceeds from the sale of my house in the UK to the USA. I usually use Transferwise to move money, but the amount exceeds their limit. Has anyone else used another company that they can recommend? I don't really want to just do a bank to bank transfer.
#3
We did the same thing with Worldfirst. No probs and continue to use them.
#4
I also used TORFX several years ago. The only issue I had was that I was stung with wire transfer fees. However I was a naive immigrant back then.
#5
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Joined: Nov 2012
Posts: 936











If you will owe any US tax on the gain on the sale or the currency gain on repaying the mortgage, the IRS accept credit cards so you could pay some of the money directly to the IRS.
#6
Thread Starter
Forum Regular


Joined: Jan 2016
Posts: 71
From: Northern California











Thank you all. Because we are also buying in the US and time was of the essence, we had to go ahead and let our solicitors transfer directly from the UK into our escrow account .I know the bank rate won't be as good as the other options, but we decided to take the hit rather than potentially lose the house.
Remember the good old days when you get get $2 to the pound? These days I get excited if the pound passes $1.30. I guess now it'll be the other way round and I'll visit home thinking how cheap everything is!
Remember the good old days when you get get $2 to the pound? These days I get excited if the pound passes $1.30. I guess now it'll be the other way round and I'll visit home thinking how cheap everything is!
#7
BE Forum Addict







Joined: Aug 2013
Posts: 2,218
From: Athens GA











Thank you all. Because we are also buying in the US and time was of the essence, we had to go ahead and let our solicitors transfer directly from the UK into our escrow account .I know the bank rate won't be as good as the other options, but we decided to take the hit rather than potentially lose the house.
Remember the good old days when you get get $2 to the pound? These days I get excited if the pound passes $1.30. I guess now it'll be the other way round and I'll visit home thinking how cheap everything is!
Remember the good old days when you get get $2 to the pound? These days I get excited if the pound passes $1.30. I guess now it'll be the other way round and I'll visit home thinking how cheap everything is!
#8
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Joined: Aug 2013
Posts: 4,835
From: Eee Bah Gum











Since my pensions and retirement savings are in the USA I hope those good old days don’t return soon. I liked those high rates when we sold our house in 1993 and transferred over the money at $1.6 to the pound.




