Money Transfer - Request Opinion

I know this topic has come up several times, but I'm wanting to get current info.

I'm looking to buy a flight for myself, DH & kids from BA (British Airways).  They only accept payment in GBP.  The flight total is about £2k (approx. $3,200)...

My Dad is going to give us a substantial amount towards our flight cost, but he's in the US with only a US bank account.  I have both US & UK accounts.  I can make withdrawls from my US credit union, but I can only take out £200 per day. 

I can either pay on a US credit card and take their exchange rate (3% fee after exchanged to USD) or I can have my Dad transfer the money to us.  However, since it would be a large amount of money I don't know what charges or fees would be involved (ie. customs, taxes, exchange rates etc.) if I would use something like PayPal or XE etc.

Any help would be appreciated to make this as easy to understand as possible!

Hi,

I use XE.  If you have the capability to make and receive electronic payments from your UK and US bank accounts, the only fee there is is in the difference between the actual exchange rate and the one XE gives you.  (i.e. XE's rate is a little worse and they make money on the difference.)

If you can't do electronic payments, you'll have to do wire transfers.  The last time I did one was a few years ago, and if I remember correctly it was about $20 or £20 on each end.

I'm not so accomplished in math that I could figure out the difference between the nominal and XE exchange rates and see how that compares to 3% of a given amount of money and then decide how much of a pain it would be to setup an XE account vs. just using a credit card, but if you were to do all that, I think that'd provide an answer.   

will they take payment by western union ? ask them  most airlines do

will they take payment by western union ? ask them  most airlines do

As far as I can tell, they don't accept Western Union, but they do accept PayPal.   

I didnt read all the replies, so not sure if anyone has said these.

Contact your USA bank and have them note on the acct that you will make large UK purchases.  I did this and put a 5k limit on it so that I could be in the UK and purchase items with my USA debit card from my usa bank acct.

As long as it it noted on your acct, the bank will process with no trouble at all.
Last summer I purchased plane ticket for me to go back for a visit.  I bought the tickets here (england), used my USA debit card, no problems at all.

Hope you get it all sorted.

Thanks all, I ended up using PayPal to transfer funds from the US to the UK to pay for the plane tickets, as it only cost £3.50.



Nemie ATL, I would consider doing something similar.  However, I refuse to use a debit card to make any large purchases, as you do not have the same buyer protection that you do using a Credit Card.

I know you have solved your dilemma with PayPal, but I am not a PayPal fan, and for anyone asking this same question in the future, I wanted to share my experience.

I just signed up with XE per Camoscato's suggestion.  There was a bit of the usual palaver with the sign up.  You need to prove your identity with utility bills, etc.  But it was all done on-line. Once my account was approved, I then went into UK account and did my usual on-line payment, and made a payment to XE and in 24 hours it was in my US account.  And the exchange rate they gave me was only less than $2.00 off of the prevailing rates.  A more than fair price for their service.

The last time I transferred money to my US account via my UK bank, it cost me £25.00 and the bank in the US did not clear the funds for 14 working days.  I am very pleased with XE.  Thanks Camoscato!

love XE!  most of my transfers come through in 24 hours now.

any other options for getting money to the USA?