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Topic: Should I keep my savings in my US or UK account?  (Read 1123 times)

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Should I keep my savings in my US or UK account?
« on: January 21, 2009, 01:47:49 PM »
My boyfriend and I have begun saving up for our unmarried partner visa. Since he's getting a PhD grant and is not allowed to work until he finishes, we're aiming for 4000 GBP between us when we apply as proof of our ability to suport ourselves.

I'm wondering if I should keep the money in my US account where it is currently, or if I should start moving it incrementally over to my UK account to lock in the relatively favorable exchange rate. Would it make a difference? I know wiring money overseas costs money, but it would also be easier to access it once I'm in the UK. Or maybe half in one and half in the other. Hm. I don't know. Anyone have any experience or thoughts on this sort of thing?

Thanks! :)
If we called them Sad Meals, no one would buy them.


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Re: Should I keep my savings in my US or UK account?
« Reply #1 on: January 21, 2009, 10:58:51 PM »
Woah, I just looked at the exchange rate and it's down to 1.39 GBP to 1 USD?! Holy cow. Maybe I should keep my money in my US account after all...
If we called them Sad Meals, no one would buy them.


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Re: Should I keep my savings in my US or UK account?
« Reply #2 on: January 22, 2009, 04:58:13 AM »
You have it just a bit backwards.  According to XE.com the exchange is 1 GBP = 1.39526 USD.  I would say in either case it would depend on the interest rate you are able to get.
""Love is composed of a single soul inhabiting two bodies." -Aristotle"


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Re: Should I keep my savings in my US or UK account?
« Reply #3 on: January 22, 2009, 07:02:53 AM »


i'm not sure...   

i will be converting USD to GBP in March-April for need not trying to time the fx...
1.40 rate would be good... hoping for 1.25 or less!!  .... but will settle for below 1.50


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Re: Should I keep my savings in my US or UK account?
« Reply #4 on: January 22, 2009, 11:00:43 AM »
You have it just a bit backwards.  According to XE.com the exchange is 1 GBP = 1.39526 USD.  I would say in either case it would depend on the interest rate you are able to get.

Ah, yes, that's what I get for trying to post late at night when I should be asleep!
If we called them Sad Meals, no one would buy them.


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