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Topic: Direct Deposit  (Read 1039 times)

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Direct Deposit
« on: August 26, 2016, 01:10:16 PM »
I just found out that I can have my social security and military retirement deposited directly in UK banks,  my question is does the bank exchange dollars to pounds at the rate of the day or do they charge the exchange rate of the day?
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Re: Direct Deposit
« Reply #1 on: August 26, 2016, 01:35:48 PM »
We have our Social Security paid direct to our UK bank.  It is paid on or around the 3rd of every month and is paid in GBP.  The deposit shows on our bank statement as GBP and shows no exchange rate.  There are no charges or fees.  This makes it easy for doing UK taxes as we can report the actual amount paid..
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