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Topic: Bank Accounts and returning to the USA  (Read 1546 times)

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Bank Accounts and returning to the USA
« on: March 28, 2009, 10:21:56 AM »
Hello All,

We are returning to America in May. Since the pound is so weak I am not sure I want to convert them to dollars to take them back. Our accounts here are internet accessible. I was looking if anyone had any suggestions or comments on the best way to proceed to make sure we have access to our money, and are able to move or convert them to dollars at a more opportune time.

What are some common things people tend to overlook? And what's the best course of action here?

Thank you.

Best Regards


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Re: Bank Accounts and returning to the USA
« Reply #1 on: March 28, 2009, 11:41:09 AM »
I've had no problems going the other way; leaving a current account in the States and pulling it over.

Just wanted to mention, though, that the current exchange rate of about $1.45 to the pound is, if memory serves, pretty much average. I've been coming to the UK since the mid-Nineties. The two dollars to the pound we saw for a couple of years there was extraordinary (I remember because it was painful).

The pound may be weak, but so is the dollar at the moment.


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Re: Bank Accounts and returning to the USA
« Reply #2 on: May 06, 2009, 07:47:52 PM »
Hello,

I'm not sure if you have already returned to America or not, but the current exchange rate at the moment is 1.51. 

There are ways for you to achieve a target exchange rate which you would specify if you weren't in fact in a rush to have your money transfered over.  You shouldn't have too much of an issue leaving your funds in your UK bank until you later decide to transfer them over while you are already in America, I would however mention to your bank that you intend to do this as they may have you sign a form while you are there to eliminate having to post it to you once your over.

Kind regards


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