Need to close US bank account -- considerations and process

Hello,

It's been a while since I posted, and yet there is always great info/insight here.  So, after sitting on a US cash account for way too long, I now need to transfer the money to the UK, and close the US account.  I think..

Are there any pitfalls I should be aware of?  What's the best way to do this?

TIA,
Annie

No pitfalls that I am aware of.  I use Wise to transfer money from our US bank to the UK.  I've closed US bank accounts in the past and don't recall any special hoops I had to jump through.

Thanks! I don't have a WISE account but the bank should transfer the funds ok.  With any luck.

If you close the account you may find it very difficult to open a new one from the UK. I think it's really useful to have a US bank account other than Wise, with whom you can't cash a check, for example.

When moving your money over, you might find that it's worth opening a Wise (or other currency exchange) account as they often give better rates than the bank but it will depend on the amount you're bringing over who you'd be best with.  Wise tend to be more competitive for smaller amounts.