Money transfer tips needed

[Johnny Spangle 0]

I've been in the US three weeks and I've already bought a car. When in Rome (or even Ohio)!

Anyway, my wife is paying up front and I wish to transfer money from my UK account to her US account to pay her back. What's the cheapest (i.e. free!) way of doing this?

Paypal seems the best bet at the moment but it takes over a week. Does anyone have any better suggestions?

Thanks in advance!

[gimygirl 0]

do you have a debit account for this UK bank account?? i would just withdraw the max amount per day until you have the full amount ... that way you'll only pay the atm fee!!

i recommend everyone from the UK bring a debit card!!

[zyggy 9]

do you have a debit account for this UK bank account?? i would just withdraw the max amount per day until you have the full amount ... that way you'll only pay the atm fee!!

i recommend everyone from the UK bring a debit card!!

Either that or you can use CustomHouse... www.customhouse.com. You can wire money between your accounts when you need it... Takes a little while to set up, but goes quickly once it is completed...

[Johnny Spangle 0]

do you have a debit account for this UK bank account?? i would just withdraw the max amount per day until you have the full amount ... that way you'll only pay the atm fee!!

i recommend everyone from the UK bring a debit card!!

I have a much used and much loved debit card (from Barclays in the UK) but the problem with this is that I am charged a 2.5% fee for withdrawing cash at an ATM in the US. No way I'm doing that.

Are you not charged a withdrawal fee in the US. Who are you with?

Either that or you can use CustomHouse... www.customhouse.com. You can wire money between your accounts when you need it... Takes a little while to set up, but goes quickly once it is completed...

I'll check out the link, but in a nutshell, will that allow me to transfer money from my UK account to my wife's US account, without incurring a fee?

[gimygirl 0]

do you have a debit account for this UK bank account?? i would just withdraw the max amount per day until you have the full amount ... that way you'll only pay the atm fee!!

i recommend everyone from the UK bring a debit card!!

I have a much used and much loved debit card (from Barclays in the UK) but the problem with this is that I am charged a 2.5% fee for withdrawing cash at an ATM in the US. No way I'm doing that.

Are you not charged a withdrawal fee in the US. Who are you with?

Either that or you can use CustomHouse... www.customhouse.com. You can wire money between your accounts when you need it... Takes a little while to set up, but goes quickly once it is completed...

I'll check out the link, but in a nutshell, will that allow me to transfer money from my UK account to my wife's US account, without incurring a fee?

meh ... aren't most withdraw fees around $2-$2.50?? since i'm a state gov't worker, i bank with our credit union and have lower fees in general so i really can't answer that one!! lol

[Johnny Spangle 0]

Oh I agree, not much for a one-off, but make a few of those and a tidy sum starts to emerge. Remember, I just moved here and I'm unemployed! I like the word free.

[zyggy 9]

Either that or you can use CustomHouse... www.customhouse.com. You can wire money between your accounts when you need it... Takes a little while to set up, but goes quickly once it is completed...

I'll check out the link, but in a nutshell, will that allow me to transfer money from my UK account to my wife's US account, without incurring a fee?

No Fees just ETF transfers...

[derekkj 0]

Either that or you can use CustomHouse... www.customhouse.com. You can wire money between your accounts when you need it... Takes a little while to set up, but goes quickly once it is completed...

I agree with Zyggy. I have been using Custom House for almost a year now to transfer money back and forth between Canada and the US and it's been great! Upside is that it is indeed free and you usually get better exchange rates than you would at your local bank. Downside, especially if you have to transfer that money like yesterday, is that it does take a few days to set up an account. As I recall, there are a couple of forms to fill out and you will need to send them some proof of ID to confirm your identity. I had to email a .jpg of my driver's license. Now that I have an account set up, it usually takes about 2-3 days for a transaction to complete.

Good luck!

[brtlmj 0]

Anyway, my wife is paying up front and I wish to transfer money from my UK account to her US account to pay her back. What's the cheapest (i.e. free!) way of doing this?

Paypal seems the best bet at the moment but it takes over a week. Does anyone have any better suggestions?

I use xe.com, but that's just a front end for custom house AFAIK. I make a transaction, then wire money form my account to theirs (free for me, but it depends on the bank), and they make an EFT transfer to the US bank (free).

I would NOT consider PayPal. Their fees are rather substantial.

Bartek

[Johnny Spangle 0]

Thanks for the help. I've emailed Custom House for advice on sign up. My bank is in the UK so I'm not sure if that affects things.