scotia123

I want to transfer a set amount of money from my UK Bank to my US Bank Account on a monthly basis. Any information on the best company to use regarding charges, fees etc would be welcome.

Ray

XE is used by most ..... but doing it quarterly would save you money

Longy

Why did you not continue the thread you started on a similar subject last week?

Anyway as mentioned in that the most commonly used on here seems to be XE. I use this and once it is setup it is good with no fees. However I am not sure if you can automate monthly transfers if that is what you want.

UKForex apparantly has better rates, but if you don't transfer a certain amount you may have a small fee. You would therefore need to look at the amount you are transferring and see which is better.

scotia123

Thanks for the info, I did want to do it on a monthly basis but I will try them and see what they come up with.

Longy

I think in the other thread you started someone mentioned a few others that could do the monthly transfers.

scotia123

Yes its very confusing and my American hubbie has no idea....as I said I will see what XE comes up with.

lochdaz-of-blantyre

I do it like this..I have all my old bank accounts in UK...keep them open for credit reference purposes if we ever go back. I opened a citibank UK account...ok not a great bank but I also opened a Citibank US account. Citi to Citi transfers are fee free and usually at the current banking rates. I've been able to transfer some high figures also.

Worth a look.

D

lansbury

If you want to do it on a monthly basis. HiFX no fee, or MoneyCorp £4 per month, both do fixed rate contracts from 6 to 24 months.

You will also need to check if your US bank charges an incoming wire fee. If they do they way MoneyCorp sends the money doesn't trigger the wire fee with Wells Fargo but HiFX does. Something to consider if you get as far as working out which one is best.