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Topic: What's the best way to transfer money from a US to UK bank account every month?  (Read 1472 times)

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We will be moving the to the UK in July but my husband will be working remotely from the same US company he currently works for.  We plan to open a UK HSBC account.  While living here we will need to transfer money each month into the UK account.  What is the best way to do this?  Can we wire transfer money from the US if we are over here?


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I have money wired to me from a US bank regularly. The money is in my ex's account, so I don't know if I would be able to do it remotely (though I think he initiates the transfers through his online banking).

For the money to go froma VT credit union to my Barclays account, I get charged a flat fee of £6.

You generally just need to provide your US bank with an IBAN and SWIFT number (which your UK bank can give you... some even have all this printed on your statements), and the basic account details.
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So - it is possible to have a direct deposit into your UK account?  I thought I read somewhere on here that you can't have that done.  That would make things much easier.  We would still need some money in our US account to cover the property management fees for renting our house.  But I think it would be much better to have funds directly into the UK account.


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Susan, are you talking about a bank-to-bank wire transfer, or a direct deposit from a US business into a UK bank account?  Because those are two different concepts. 
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I guess my question is it possible to have your US paycheck deposited into your UK account?  If the answer is no is there an easy why so transfer most of that money from your US to your UK account (since we won't be in the US-can we still wire transfer money there?)


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I don't think you can have a US paycheck direct deposited into a UK account, but if you have $$ in a US account, you can set up a wire transfer to a UK account.  Fees for this vary.  You could also use PayPal, if you have one PP account tied to your US bank, and another one tied to your UK bank, you can send the money from one PP account to another, then transfer it from the PP to the UK bank.  This is complicated, but pretty cheap.  If you can set up a regular wire transfer for a low fee, it's probably easier.  You'd have to check with the individual banks and see what their policies are. 
On s'envolera du même quai
Les yeux dans les mêmes reflets,
Pour cette vie et celle d'après
Tu seras mon unique projet.

Je t'aimais, je t'aime, et je t'aimerai.

--Francis Cabrel


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I think it would come down to what payroll system the company is using. Some might have allowances for international transfer.

In any case, you could have the money direct deposited into your US account, and have a standing wire transfer order a day or two later from that account into your UK account.
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Another way is paypal. Two accounts 1 tied to your UK bank the other tied to your US bank.


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Just a warning, you are going to have the most awful tax muddle!

Your husband will owe UK taxes on the employment income, he may become a permanent establishment of the US employer for corporate tax purposes and he will b remitting from a mixed fund account to the UK so will end up calculating & reporting every pound of currency gain on every transaction.

Take dual qualified US/UK tax advice before starting.


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