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Topic: Hung Parliament = Good rate from the US  (Read 1211 times)

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    • Englishmann
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Hung Parliament = Good rate from the US
« on: May 07, 2010, 03:27:25 PM »
Just FYI - the rate for transferring dollars to pounds has dropped precipitously after the election - good time to move your dollars over if possible!
11/99 - Moved to UK on Work Visa
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Re: Hung Parliament = Good rate from the US
« Reply #1 on: May 07, 2010, 03:30:02 PM »
SWEET!!


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Re: Hung Parliament = Good rate from the US
« Reply #2 on: May 07, 2010, 04:07:21 PM »
Note that this drop is down to uncertainty in what will happen with the government and is probably quite temporary. Ratings agencies and financial firms have all said that it's unlikely that a hung parliament is going to affect the exchange rate in any appreciable way (though they can be wrong). Because of the potentially temporary nature of the drop, it's unlikely that a bank will offer you a very different rate than they would have done last week unless you have a very large amount to transfer - and even then you'd likely have to negotiate for the better rate.

Of course this isn't so much a problem if you're not transferring the money via a bank. There are various money transfer services that you'll find references to on these boards that may be worth looking into. I haven't used any personally, so I won't recommend anything, but there are certainly people here who will.


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Re: Hung Parliament = Good rate from the US
« Reply #3 on: May 07, 2010, 06:59:40 PM »
yes my bank and paypal was all normal rate nothing special ;-)
A girl can hope right?


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    • Englishmann
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Re: Hung Parliament = Good rate from the US
« Reply #4 on: May 07, 2010, 08:53:48 PM »
www.xe.com had lowered its rate accordingly, not a huge amount, but enough to make a difference on a larger transfer...
11/99 - Moved to UK on Work Visa
07/00 - Married UKC
02/01 - Moved to Texas
04/10 - Received Spouse Visa - ILE
06/10 - Moved to England


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Re: Hung Parliament = Good rate from the US
« Reply #5 on: May 08, 2010, 07:45:22 PM »
Soooo...more capital gains tax payable to HMRC on the remittance I suspect...


Re: Hung Parliament = Good rate from the US
« Reply #6 on: May 08, 2010, 08:46:21 PM »
Soooo...more capital gains tax payable to HMRC on the remittance I suspect...

Well, if you plan to make money out of other people's misfortunes, it's only fair. (Mind you, I am eyeing the pound/euro rate keenly, conisidering I am going to Sevilla in 2 weeks!)


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