Author Topic: Transferring Money  (Read 174 times)

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Offline swilt170571

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Transferring Money
« on: February 25, 2017, 06:07:50 PM »
Hi all I'm interested in peoples experience in transferring money

Last summer my Wife did an electronic transfer of money (quiet a few thousand dollars) to her new UK account from her American Account

On receiving the money over here it was not as much as we expected, based on the bank (not sure which one, probably UK one) using a lower exchange rate and I'm guessing some chargers as well.

She is looking at doing similar again sometime in future and I notice that there are trading companies that supposedly give you better rates, and they are regulated and insured.  Example Currencies Direct.

Has anyone used these type of companies as a broker rather than going direct bank to bank?

Thanks in advance

Offline larrabee

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Re: Transferring Money
« Reply #1 on: February 25, 2017, 06:28:17 PM »
I use Transferwise regularly. They're great, I highly recommend them.   :)

https://transferwise.com/
March 29th 2013-Moved to UK, husband on spouse visa.Oct 20th 2015-Applied by mail for FLR(M).Feb 1st 2016 FLR(M).

Offline ksand24

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Re: Transferring Money
« Reply #2 on: February 25, 2017, 06:34:53 PM »
I've used Transferwise a few times now and am very happy with it. So far I've only used it to send fairly small amounts of money (up to a few hundred pounds) from my UK account to a couple of European countries.


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Offline swilt170571

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Re: Transferring Money
« Reply #3 on: February 26, 2017, 01:23:58 PM »
Thanks both of you I'll take a look

Offline durhamlad

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Re: Transferring Money
« Reply #4 on: February 26, 2017, 04:20:35 PM »
Another vote for Transferwise and I will add that when you set up a transfer it will tell you exactly the amount that you will receive in your UK bank account, and that is what you will get. No surprises, at least that is my experience after many transfers using TransferWise (XE.com always tells you exactly what you will receive before you click "Submit")
Adventure before dementia