Transferring money from UK to USA
Jun 29th 2017, 4:57 pm
#31
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Joined: Jul 2013
Posts: 78
Re: Transferring money from UK to USA
Today I transferred GBP 1000.00 from my UK account to my US account using TransferWise. I have their app on my phone. Proceeds USD 1292.38 after a charge of GBP 4.98.
Communication is excellent, within seconds they acknowledged my order and within minutes they acknowledge receipt of GBPs via FasterPayments. The USDs are scheduled to arrive in my US account by close of business Monday. However from experience I expect to receive it late Friday or Saturday.
Communication is excellent, within seconds they acknowledged my order and within minutes they acknowledge receipt of GBPs via FasterPayments. The USDs are scheduled to arrive in my US account by close of business Monday. However from experience I expect to receive it late Friday or Saturday.
Jun 30th 2017, 2:19 pm
#32
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Joined: Jul 2013
Posts: 78
Re: Transferring money from UK to USA
As you can see from my message above yesterday I initiated an exchange and transfer of GBPs from my UK account to USDs for my current account here in Texas.
This morning it was in my US account.
That's a very competitive exchange rate at lightening speed.
This morning it was in my US account.
That's a very competitive exchange rate at lightening speed.
Last edited by vulcan; Jun 30th 2017 at 2:22 pm.
Jun 30th 2017, 2:36 pm
#33
Joined: Dec 2001
Location: Dixie, ex UK
Posts: 52,448
Re: Transferring money from UK to USA
That's because the money didn't really move - you paid money into their GBP account in the UK, and they paid you USD from their account in the US.
I do the same thing for my mother when she wants to send a cash gift to my daughter - my mother deposits money into my account in the UK, and I pay my daughter cash from the ATM. There is no transfer fee, the exchange is at the mid rate, and the transfer can take as little as a few seconds.
I do the same thing for my mother when she wants to send a cash gift to my daughter - my mother deposits money into my account in the UK, and I pay my daughter cash from the ATM. There is no transfer fee, the exchange is at the mid rate, and the transfer can take as little as a few seconds.
Aug 3rd 2018, 4:55 pm
#34
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Joined: Feb 2018
Posts: 111
Re: Transferring money from UK to USA
Anyone get asked for their passwords and bank id? this is something that would worry me
Aug 4th 2018, 6:36 am
#37
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Joined: Feb 2018
Posts: 111
Re: Transferring money from UK to USA
I apologise i realise i was pretty vague there! What I meant to ask was a question regarding transferwise. I was making an account - got as far as telling them the amount and all details when i was asked to provide them with my user id and password for my bank - just seemed extremely odd.
Aug 4th 2018, 9:40 am
#38
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Joined: Aug 2013
Location: Eee Bah Gum
Posts: 4,131
Re: Transferring money from UK to USA
I apologise i realise i was pretty vague there! What I meant to ask was a question regarding transferwise. I was making an account - got as far as telling them the amount and all details when i was asked to provide them with my user id and password for my bank - just seemed extremely odd.
If you want to “push” money to them then you can do that with a wire transfer. After you tell them how much to transfer they provide you with their bank details and you set them up as a payee in your bank account and send them the money. Once they have received it they send the converted amount to your receiving bank.
Sometimes when doing a transfer they will inform me that I can save money by wiring it to them, the last time this happened was this week on a $3,000 transfer and the savings by doing a wire was about $20, however my bank charges $30 to send a wire transfer so I chose the ACH method, and I don’t get asked my user id and password as it is already set up with them for ACH transfers.
Aug 4th 2018, 11:53 pm
#39
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Joined: Jul 2018
Location: California
Posts: 254
Re: Transferring money from UK to USA
Sometimes when doing a transfer they will inform me that I can save money by wiring it to them, the last time this happened was this week on a $3,000 transfer and the savings by doing a wire was about $20, however my bank charges $30 to send a wire transfer so I chose the ACH method, and I don’t get asked my user id and password as it is already set up with them for ACH transfers.
Aug 5th 2018, 6:55 am
#40
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Re: Transferring money from UK to USA
I had been having an email conversation with a friend over the last few weeks about this as I had never seen this option for such small transfers but he said that he had seen the option as he transfers his pension twice a month while the exchange rates US to UK are so good. I usually let mine accumulate and transfer larger amounts less frequently so was surprised to see the option this time.
Last edited by durham_lad; Aug 5th 2018 at 7:00 am.
Aug 5th 2018, 7:10 am
#41
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Re: Transferring money from UK to USA
Hello xxxx,2,289.72 GBP is on its way to xxxx. The money should be in the bank account by today, August 3.
The USD to GBP rate was 0.76814. The fee was 19.14 USD.
Track your transfer
Aug 5th 2018, 5:50 pm
#42
Joined: Apr 2005
Location: Milwaukie, Oregon
Posts: 9,966
Re: Transferring money from UK to USA
I never transfer UK to USA so can’t really comment on your post and apologize since I realize this thread is about UK to US transfers, not the other way round.
I had been having an email conversation with a friend over the last few weeks about this as I had never seen this option for such small transfers but he said that he had seen the option as he transfers his pension twice a month while the exchange rates US to UK are so good. I usually let mine accumulate and transfer larger amounts less frequently so was surprised to see the option this time.
Aug 5th 2018, 9:36 pm
#43
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Joined: Jul 2018
Location: California
Posts: 254
Re: Transferring money from UK to USA
I have transferred money from UK to USA about 10 times (but never the other way round) and never paid a fee other than Transferwise's regular fee, which is 0.4% or a little above (A week ago I transferred 3,500 pounds and the fee was 14-74 pounds). I always use online bank transfer. There is no need to pay any other fee, and if a customer chooses to pay another fee by choosing another payment method, I doubt if it goes to Transferwise. So I found it puzzling why they offer a $20 saving for a wire transfer, when anyway my online transfer in the UK is instant and Transferwise email me immediately that they've received the money. Perhaps the explanation is that as DL's transfers are USA to UK, and online transfers in the US are not instant, they need to do this at times when UK to US transactions far exceed US to UK.
Aug 6th 2018, 7:23 am
#44
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Joined: Aug 2013
Location: Eee Bah Gum
Posts: 4,131
Re: Transferring money from UK to USA
I have transferred money from UK to USA about 10 times (but never the other way round) and never paid a fee other than Transferwise's regular fee, which is 0.4% or a little above (A week ago I transferred 3,500 pounds and the fee was 14-74 pounds). I always use online bank transfer. There is no need to pay any other fee, and if a customer chooses to pay another fee by choosing another payment method, I doubt if it goes to Transferwise. So I found it puzzling why they offer a $20 saving for a wire transfer, when anyway my online transfer in the UK is instant and Transferwise email me immediately that they've received the money. Perhaps the explanation is that as DL's transfers are USA to UK, and online transfers in the US are not instant, they need to do this at times when UK to US transactions far exceed US to UK.
