Moving money from UK to US when migrating

[RW365 33]

I was wondering how you guys move money from UK to US when you migrate there. I used bank transfer a few times but the exchange rate I got was really bad, and there were other charges at both ends. Is there any other recommended service? How much can we move in one go?

Thanks!

[cathy2904 97]

I use Transferwise and I am very happy with the service. The rates are good and they make a direct deposit so my bank doesn't charge me for a wire transfer.

When I sold my house and had a large amount to transfer I used a specialist currency broker. There are plenty out there. I used TorFX.

[Hotter Otter 1,211]

If you use the advanced search function you can find loads of previous threads about this. I used HiFx, got a much better rate than my bank offered.

[RW365 33]

Thank you. I used Transferwise in the past and they were great. But I only sent small amount of money. I didn't think they were for substantial amounts. I will look into TorFX and HiFx.

Cheers!

[Kiwinyc 62]

I have used (and continue to use) Transferwise for smaller amounts,. but to transfer the proceeds of my UK house sale i also used a specialist broker - in this case, World First. i tracked the rates for a couple of months and put in an order to buy US dollars when it reached the rate I wanted - i did really well out of it. Their rates were not quite as high as Transferwise but there was no commission on top so it still worked out cheaper. (Transferwise commission on the amount I wanted to transfer was a 4 figure sum)

[PBJ 60]

I used Transferwise for a four figure sum and the charge was 90% cheaper than my bank. Really easy to use too. Thumbs up.

[nobbie 105]

I have used both TorFx and HiFx both good and much better rates than the bank.

[rjm_cmyk 75]

Anyone apart from your UK bank. I use XE Trade but there are many others out there. Get the account sorted sooner rather than later as you have to jump through a few ID hoops due to the money laundering regs.

[Owen_London 65]

I have used (and continue to use) Transferwise for smaller amounts,. but to transfer the proceeds of my UK house sale i also used a specialist broker - in this case, World First. i tracked the rates for a couple of months and put in an order to buy US dollars when it reached the rate I wanted - i did really well out of it. Their rates were not quite as high as Transferwise but there was no commission on top so it still worked out cheaper. (Transferwise commission on the amount I wanted to transfer was a 4 figure sum)

Transferwise have removed their small limits now. I haven't used them myself, though.