Sq25394

I am looking to transfer some money from my bank account in the UK to the US.

I could use my bank but as it’s a largish sum I’d prefer to get the best rate possible.

I’d appreciate any recommendations.

Pulaski

If "largish" means over say, £50,000 then you could ask your bank for "a dealing desk rate" (use those words), and you will be getting the rates available to commercial customers moving larger sums. The rates vary every few seconds, so when you're ready to send the money you'll only be given maybe 30 seconds to accept the rate. If you reject the rate, or are too slow, you can get a refreshed rate, or try again another day. You will likely have a wire fee to pay, probably around £30-£35, but will get the protection of your transfer being conducted entirely within the banking system, so fairly easily traceable if the funds don't show up when and where you expect them.

The other popular recommendation is to use Wise, which IIRC claims to do the exchange at the mid-rate, and charge ½% fee.

Glasgow Girl

I have found Wise to be the easiest and most cost effective method for transferring large and small sums. You have to submit ID documents when setting up an account which can be a hassle, but IMO is well worth the effort. Many others on this forum also recommend Wise.

PetrifiedExPat

Pulaski's method I believe will give you the best outcome.

Glasgow Girl's method maybe a lesser bang for your buck, but, my preferred due to simplicity (subjective I know).

The choice either way is reasonable to me.

Sq25394

Thanks for your input and ideas.