Best way to transfer money from UK to US?

[Zittajohn 0]

My husband will be closing his UK bank soon and moving funds to a US bank. Anyone experience this? Best way to do it with the best exchange rate?

[Sirliner 26]

I would suggest doing it as bank to bank transfer. US banks partner with foreign banks and money can be directly transferred between accounts with very favorable exchange rates and low fees. In the UK, Barclays is a partner with Bank of America. With a little research there may be other US/UK partner banks.

[Tracey&Greg 35]

My hubby is from the UK as well and to make it simple in his words he said all he did was monitored xe.com and when it seemed right he got my account number and international wire transfer number and sent X amount of money to me and closed out his RBS account. I had a minor fee for receiving the money but it was very quickly plus was safe knowing that the bank would protect us if anything went wrong.

[mozplay 29]

I'm actually looking for information on transferring money from Trinidad (a Caribbean country) to the US. Do you know if money that you bring in as a new resident is taxed?

[Owen_London 65]

My husband will be closing his UK bank soon and moving funds to a US bank. Anyone experience this? Best way to do it with the best exchange rate?

The best rates usually come from online foreign exchange companies. Using bank transfer / wire is almost always a bad idea, because the exchange rates are usually worse than offered by the specialist forex companies.

I have seen several companies recommended here and elsewhere:

ukforex.com / usforex.com

xe.com

transferwise.com (operates on a slightly different model - I've seen good reports on their rates recently)

hifx.com (only UK->US, not US->UK, I believe)

plus others.

UK residents will usually need to provide proof of ID. US residents usually just have to undergo a credit check against their SSN.

I'm actually looking for information on transferring money from Trinidad (a Caribbean country) to the US. Do you know if money that you bring in as a new resident is taxed?

This is a completely different question, you should really start your own thread.

However, bringing your own money to the USA is not taxed.

[TimeTravel 78]

Check with http://www.currenciesdirect.com/en/uk

They seem to offer rate.

The best rates usually come from online foreign exchange companies. Using bank transfer / wire is almost always a bad idea, because the exchange rates are usually worse than offered by the specialist forex companies.

I have seen several companies recommended here and elsewhere:

ukforex.com / usforex.com

xe.com

transferwise.com (operates on a slightly different model - I've seen good reports on their rates recently)

hifx.com (only UK->US, not US->UK, I believe)

plus others.

UK residents will usually need to provide proof of ID. US residents usually just have to undergo a credit check against their SSN.

This is a completely different question, you should really start your own thread.

However, bringing your own money to the USA is not taxed.

[Derwood 203]

Azimo are good and their fee is only £1 at the moment. I transferred a five figure £ aount two weeks ago and it all went through fine. The rate is good too. Always google 'pounds to dollars' and make sure you are getting very near the rate displayed as that's the market rate.

[SimonBelgium 49]

I've used TransferWise (https://transferwise.com/u/b6f15) for a while now, about a dozen transfers, and it works like a charm. Best rates I could find on the market so far !

[CXECAM 0]

A company www.currencies.co.uk guarantee a better exchange rate if you register with them.

I have used them countless times in the past to move money to the US and compared with a few others like Transferwise and Currencies Direct and they always get me the most Dollars.

Would recommend them to anybody looking to change money in to Dollars.