Transferring money UK to US
#32
Re: Transferring money UK to US
So you're saying I should spend all the money ASAP? Excellent, i'll tell the wife
#33
Forum Regular
Joined: Sep 2005
Location: Andover, MA
Posts: 250
Re: Transferring money UK to US
I setup a a Lloyds Bank Premier International Account held in the Isle of Man but I have not yet used it for large amounts. Some how I ended up with three new accounts from the setup, I am able to transfer money efficiently to my Chase account with what I believe to be good rates.
Does anybody else use Lloyds?
Does anybody else use Lloyds?
The process with XE was completely painless - had to contact customer service to temporarily increase the trade limit.
#34
Re: Transferring money UK to US
XE.com made me close my account and asked me to sign up to a new one as my original one has me as a resident of the UK, not the US. I've closed the account but I'm not sure whether I'll sign up to a new one just yet
#35
Banned
Joined: Jun 2014
Location: Los Angeles, CA
Posts: 4
Re: Transferring money UK to US
In the US just make sure your wire transmitter is registered with FinCEN and regulated by the IRS.
<<<snip>>>
Passport/ID and proof of address (or employment contract that shows you will be moving to the US) is required.
<<<snip>>>
Passport/ID and proof of address (or employment contract that shows you will be moving to the US) is required.
Last edited by Jerseygirl; Jun 5th 2014 at 11:53 pm. Reason: Even though you haven't mentioned the company you can't adveritise the services.
#36
Re: Transferring money UK to US
So I've jumped through the hoops and had my US XE.com account activated, set up the trade, then gone online to transfer money from my HSBC account to the Barclays one that XE uses and HSBC only allows 10,000GBP a day. How have other people got around this?
#37
Re: Transferring money UK to US
If that would mean several weeks of daily transfers, you may want to talk to HSBC about upping the limit or transferring another way.
#38
Re: Transferring money UK to US
We just transferred a v large sum with worldfirst to buy a house here. No problems and got a good rate.
#39
Re: Transferring money UK to US
Barclays allowed a maximum of 20k per day. When I spoke to USForex, they told me they would fix the exchange rate and let me transfer the sterling in 20k increments until I'd transferred the full amount. Once complete, they transferred the dollars.
If that would mean several weeks of daily transfers, you may want to talk to HSBC about upping the limit or transferring another way.
If that would mean several weeks of daily transfers, you may want to talk to HSBC about upping the limit or transferring another way.
#41
Forum Regular
Joined: Oct 2013
Posts: 138
Re: Transferring money UK to US
Sorry to bump an old thread.
Some of you seem to be transferring a lot of money. I will have a very modest £20k to transfer over. Whats the best option for me?
I was thinking of myself and my wife just taping £10k each to our body but other than that?
Presumably I would need a US bank account but how long do I have to wait before transferring the money?
The alternative is just using our UK checking/credit accounts with our cards in the US. But I want to be able to pay for gas/petrol at the pump!!
Some of you seem to be transferring a lot of money. I will have a very modest £20k to transfer over. Whats the best option for me?
I was thinking of myself and my wife just taping £10k each to our body but other than that?
Presumably I would need a US bank account but how long do I have to wait before transferring the money?
The alternative is just using our UK checking/credit accounts with our cards in the US. But I want to be able to pay for gas/petrol at the pump!!
#42
Re: Transferring money UK to US
Where did you have in mind?
Then there's always bitcoins..or there was
if all else fails - how 'bout?....
someone serious and sane will come along soon, I sure, but in the meantime...well - at least you've had a reply
#43
Re: Transferring money UK to US
Just shop for the best deal.
XE works for many.
$10k+ is not illegal, that is just a point where extra scrutiny will be applied and delays may occur.
XE works for many.
$10k+ is not illegal, that is just a point where extra scrutiny will be applied and delays may occur.
#44
Lost in BE Cyberspace
Joined: Jan 2008
Posts: 41,518
Re: Transferring money UK to US
You will need a US bank account to transfer it into, yes. Once that's set up I don't think you have to wait.
We have registered with XE but are going the other way and waiting to see the dollar/pound will get a slightly more favourable rate.
We have registered with XE but are going the other way and waiting to see the dollar/pound will get a slightly more favourable rate.