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Topic: Moving money from the UK to US  (Read 909 times)

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Moving money from the UK to US
« on: March 19, 2007, 05:15:27 AM »
Hi everyone....l'm hoping that someone can help with a small prob regarding shifting some money to the US,which hopefully,several of you will have done before.

I'm expecting to have several thousand pounds from a pension fund paid out shortly (from Canada Life) and l'm pretty sure they told be before that they will only pay the money out in pounds,and l believe they said into a UK bank account.

Unfortunately l closed my account there when l moved to the US. So my question is, if l don't have a UK bank account,and l now have a cheque in my hand in pounds sterling,how can l convert the money to USD and move it to the US ? Ideally l'd like to have it converted in the UK because US banks are absolutely useless when it comes to handling foreign currency...they'll take weeks to do it and then try and charge the earth for doing it !
 
Any suggestions please ?

Thanks

Alan
Made In Portsmouth,England


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Re: Moving money from the UK to US
« Reply #1 on: April 04, 2007, 10:00:04 PM »
Actually, you may want to call your US bank and ask for the procedure as many have intermediary banks in the UK.

I just moved about £30,000 from the UK to the US and the first step was from Natwest (UK) to Barclays (UK) where my US bank had an account.  In the wire we left specific FFC (for future credit) instructions which told them my name and account details.

Got an ok rate (1.93 I think) which isn't great but isn't crap.  Whole process took 4 days.

Your mileage may vary.


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Re: Moving money from the UK to US
« Reply #2 on: April 07, 2007, 09:48:04 AM »
Actually, you may want to call your US bank and ask for the procedure as many have intermediary banks in the UK.

I just moved about £30,000 from the UK to the US and the first step was from Natwest (UK) to Barclays (UK) where my US bank had an account.  In the wire we left specific FFC (for future credit) instructions which told them my name and account details.

Got an ok rate (1.93 I think) which isn't great but isn't crap.  Whole process took 4 days.

Your mileage may vary.

Thanks for the info. I think l got the matter sorted now. The money is in a pensio fund with Canada Life and they are going to do a wire transfer to Bank Of America,so that takes care of that. Thanks again.
Made In Portsmouth,England


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