Transferring Your Money to the USA - Atlantic Money

[Melancholic Mage 104]

Adding this here from a kind suggestion by @TBoneTX.

 

Navigating through the visa process, one of the biggest questions I asked myself was how I was going to transfer my UK money over to the US. Others have asked this question too and responses have been mixed. Using your UK bank to transfer funds directly, using a third-party exchange such as TorFX, or using the multi-currency specialist bank that is Wise... these have all been common suggestions. I personally had settled on using Wise, until I found out about Atlantic Money.

 

Atlantic Money has a flat £3 fee, no matter the amount, so long as you're willing to wait a few days extra for the funds to clear. And if not, they offer an expedited service that is still cheaper than Wise's transfer fees. Not only that, they also exchange Euros along with GBP, and can exchange it to currencies other than USD such as Australian and Canadian Dollars. Excellent reviews online wherever I've looked from Trustpilot to Reddit, and I plan to use them soon once I get my affairs in the UK sorted.

 

https://atlantic.money/gb/en/

 

I entered the USA just shy of three weeks ago now and have yet to move my money across due to some outstanding tax issues, but once I use Atlantic Money I'll be sure to update this thread for others. This appears to be the best solution by far for those who are sending over large amounts of funds from GBP to USD, and also have the time to wait for the transaction to complete. I hope others find this useful.

[Boiler 45,442]

Certainly with large amounts the exchange rate is key.

[dabursot2 24]

Wise is probably the easiest option, the difference nowaways is relatively small compared to the amount of money you are transferring 

[Melancholic Mage 104]

£3 flat rate compared to Wise's £100+ transfer fee isn't minimal. Especially when that currency conversion means you're actually losing around $150-$200. Depends what you send. And Atlantic Money uses live exchange rates then and there from Google. 

 

It might not be much compared to the amount you're sending, but you need every cent you can hold onto getting set up here. Wise asks me to pay more and jump through more hoops in converting GBP > USD to their account, then sending it from their account to its final one in the USA. 

 

Unless you have a Wise card, which aren't available in the US right now, I don't see it as an easier option myself. But do what you're most comfortable with. 

Edited October 21 by Melancholic Mage

[Boiler 45,442]

Atlantic 1.29465

 

Mid Market  1.30095

 

As at the time of posting, no doubt has changed since I have typed this.

 

I have not gone through the process to see if there is anything else but the Atlantic rate looks good

 

From memory I have never paid more than GBP15 fee in fees, I used to use Nat West and XE. Might well be extra fees for speedier processing.

 

[SL2024 63]

https://www.finder.com/uk/international-money-transfers/atlantic-money-international-transfers

 

Just a link with some pros and cons for people that might be useful.

Edited October 21 by SL2024

[Melancholic Mage 104]

Transferred my money through Atlantic. It got to my husband's bank account in the three working days advised, with a base £3 fee that was automatically taken off the transfer since no payment required, and also locked in the exchange rate. (Since GBP has crashed from 1.29 down to 1.26, I was lucky I initiated conversion when I did following US election results and UK budget announcement.)

 

Had to go through extra verification for a higher transfer limit, and also pay for international minutes as my own bank withheld my payments thinking possible fraud which was a slight headache, but otherwise smooth. All money accounted for, exactly as specified, and on the day quoted. 

 

Way cheaper than Wise. Hundreds of pounds cheaper. Cannot recommend enough. 

[Lemonslice 4,831]

20 minutes ago, Melancholic Mage said:

Transferred my money through Atlantic. It got to my husband's bank account in the three working days advised, with a base £3 fee that was automatically taken off the transfer since no payment required, and also locked in the exchange rate. (Since GBP has crashed from 1.29 down to 1.26, I was lucky I initiated conversion when I did following US election results and UK budget announcement.)

 

Had to go through extra verification for a higher transfer limit, and also pay for international minutes as my own bank withheld my payments thinking possible fraud which was a slight headache, but otherwise smooth. All money accounted for, exactly as specified, and on the day quoted. 

 

Way cheaper than Wise. Hundreds of pounds cheaper. Cannot recommend enough. 

On larger amounts, it is so worth it to compare the rates and fees.  Happy everything went smoothly for you!

[SL2024 63]

16 hours ago, Melancholic Mage said:

Transferred my money through Atlantic. It got to my husband's bank account in the three working days advised, with a base £3 fee that was automatically taken off the transfer since no payment required, and also locked in the exchange rate. (Since GBP has crashed from 1.29 down to 1.26, I was lucky I initiated conversion when I did following US election results and UK budget announcement.)

 

Had to go through extra verification for a higher transfer limit, and also pay for international minutes as my own bank withheld my payments thinking possible fraud which was a slight headache, but otherwise smooth. All money accounted for, exactly as specified, and on the day quoted. 

 

Way cheaper than Wise. Hundreds of pounds cheaper. Cannot recommend enough. 

Do you mind if I ask how much you had to pay in international minutes or what the total cost was with the £3 transfer fee included as well?

[Melancholic Mage 104]

I paid £5 to my old UK provider for an 'add-on' of 50 international minutes. Calling my bank twice and running through security checks with the fraud team ate through 30 of them. 

 

I had to make two transfers due to daily transfer limits. All together, with a flat £3 fee each time, it cost me £6 to move over all my funds. Add the extra £5 in minutes with my phone plan, it cost me £11 in total.