Transferring money from UK to US

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Apr 5th 2022, 7:54 am

#16

durham_lad

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Re: Transferring money from UK to US

Quote:

Originally Posted by msk2uon

Care to share which US bank is not charging for outgoing wires?

Our banks are HSBC, and a Wise borderless account. Our brokerage is Vanguard. None of them charge for wires.

In the UK no banks charge for the transfer of money between banks, individuals or to pay bills.

Apr 5th 2022, 4:55 pm

#17

PetrifiedExPat

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Re: Transferring money from UK to US

Quote:

Originally Posted by Pulaski

I believe that one of the advantages of using Wise is that the credit to your account is an ACH, not "a wire" (perhaps "credit by wire" is an option - it was on other transfer services I have used), and no bank charges to receive an ACH.

Sorry you are right! My incoming JPY was not actually through Wise, it was a wire from BoJ (or similar, I forget) to BoA. That was fee free, exchange rate wasn't great but the whole procedure was blighted by red tape I couldn't understand (given I don't speak Japanese).

Still, Wise when moving GBP (up to about 70,000) has been reasonable for me.

Apr 5th 2022, 8:38 pm

#18

Olly_

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Re: Transferring money from UK to US

Quote:

Originally Posted by msk2uon

Care to share which US bank is not charging for outgoing wires?

Many banks waive wire fees if you hold assets with them - Chase Private Client and HSBC Premier status waives wire fees as an example.

Apr 5th 2022, 10:30 pm

#19

Pulaski

Joined: Dec 2001

Location: Dixie, ex UK

Posts: 52,446

Re: Transferring money from UK to US

Quote:

Originally Posted by Olly_

Many banks waive wire fees if you hold substantial assets with them - Chase Private Client and HSBC Premier status waives wire fees as an example.

FIFY