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Topic: money questions help please  (Read 1374 times)

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money questions help please
« on: February 09, 2016, 08:11:44 PM »
Hi there, my fiance is returning to the states very shortly to apply for a fiance visa to hopefully return here, get married and live here.
He has been over here for a few months and has been withdrawing his retirement pension from ATM's here to live on. Is there a better way to do it? Also will he need to open a UK account and have it put in there or is he best to just continue how it is in his U.S account and withdrawing it here? I'm thinking fees etc....

Thank You :-)


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Re: money questions help please
« Reply #1 on: February 09, 2016, 09:57:10 PM »
I can't advise on the pension side of things, or whether his US-pension will be able to be deposited directly into a UK-based bank. 

However, there are many foreign exchange websites available if he did want to transfer his money into a UK bank account.  I've been using TransferWise for the past few years (albeit to send UK funds to a US account), and have been quite happy.

Another option is (whilst he's in the US) to open an account at a bank that doesn't charge fees to withdraw from a UK bank.  I've always been with Bank of America, which allows  transactions at Barclays cash points in the UK free from the $5 Non-BOA ATM transaction fee, but it looks like it does charge an international conversion fee of 3% now.  (see #1 under "While you're travelling"
2007-Short Term Student;   2010-T4;   2011-T1 PSW;   2013-FLR(M);    2015-ILR;    2016 - Citizenship (approved!)


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