Pound down almost 10 cents from the high

DtM- yep.....I knew I would likely need a specialist, which is why I mentioned xe.com in my message. I think I checked quickly (and probably not accurately) online with xe, moneycorp and I think USForex. All very close to the same price I think with xe being barely cheaper. All those companies seem to be reputable and I wouldn't think they would much of an advantage over the others. I'm likely sending about $59K now to my wife's bank account in the UK,  and then after the first of the year I'll sell some more funds and send another $80K or so. Gotta keep our bank here topped up to make sure way stay well over any limits on having cash. Probably only need to keep around 33K+ pounds in our bank here since I have some pension money coming in, but I get paranoid and figure I might as well play it safe and carry the 62,500 that's needed in the worst case. Having that money here also makes it easy to just go down to the credit union and get them to sign off on the paper needed to make the VISA people happy.

And......just tried to move money on xe.com......shot down. They have a limit of $10,000. I had to send in a request for a larger limit.....supposedly takes a day or two.

Also just tried to start up a MoneyCorp account to see what they could do. They said they would send a pin number to finish the process......nope. The site says if the PIN doesn't show up I need to call.....but my phone doesn't dial international. This is getting seriously aggravating.   

Here I am most of a week later and STILL waiting for xe.com to pull their heads out. The recent contact said that I would receive the OK from the "final department" in 24-48 hrs...they have a couple hours left. Got a call (very impressed) from MoneyCorp wondering why I hadn't sent my photo ID etc to them. The actually CALLED me.... turns out I can't use them since I live in Washington State.

Here I am most of a week later and STILL waiting for xe.com to pull their heads out. The recent contact said that I would receive the OK from the "final department" in 24-48 hrs...they have a couple hours left. Got a call (very impressed) from MoneyCorp wondering why I hadn't sent my photo ID etc to them. The actually CALLED me.... turns out I can't use them since I live in Washington State.

Sorry to hear about your trials and tribulations getting set up with a forex company.  I don't recall any delays getting set up with XE.com a couple of years ago after HiFx had dropped me.

Hey Alan.....this has become what must be a blip in their business.....MoneyCorp won't deal with me since I am in Washington State (no idea why)......I can't get xe.com to respond after more than 48 hours(even though they emailed saying within 24-48hrs). The Pound has gone up since.....and it is costing me money. I will give xe until tomorrow and then I will try one of the other sites. I'm starting to feel like a leper. Meltham is our newest town we are looking at....maybe Slaithwaite. Scarborough is just too far to family for my wife.  

Hey Alan.....this has become what must be a blip in their business.....MoneyCorp won't deal with me since I am in Washington State (no idea why)......I can't get xe.com to respond after more than 48 hours(even though they emailed saying within 24-48hrs). The Pound has gone up since.....and it is costing me money. I will give xe until tomorrow and then I will try one of the other sites. I'm starting to feel like a leper. Meltham is our newest town we are looking at....maybe Slaithwaite. Scarborough is just too far to family for my wife.  

Never heard of those places, had to look on GMaps.  Edge of the Peak District which I do know, so you will be in easy reach of great walks.

Best of luck with the forex companies 

NOT impressed with xe.com. After a week they finally OK'd my account. Right after they accused me of abusing the system and .....well....see below.....I haven't traded money at all. They accused me of foul play....and then turned around and stated I was good to go. Well.....I can't use MoneyCorp because I live in Washington State (still don't understand that one). xe .....just a bit scary on their procedures. Guess we will try USForex next..... Is anybody competent?


Dear xxxxxxx

We have suspended access to your XE Trade account .

Reasons for suspension can include, but are not limited to:

    Failure to remit payment for booked transactions;
    Unusual account activity, suggesting potential misuse by a third party; or
    Instructions from you to cancel your account

You will be unable to access any of our trading products with your account until your
account is reactivated.

For assistance in reactivating your account, please contact us.

Sincerely,

XE Trade Customer Service

I suppose that while you are trying to get set up with a forex provider that the pound will re-gain strength against the dollar.  I can't recommend anyone else to you as the only 2 I have ever used were HiFx and XE and both were very easy to set up and use.  (HiFx no longer deals with US addresses).

Thanks Alan......I was sure impressed with the call from MoneyCorp asking me to complete my sign-up. I wonder why they couldn't deal with me while I live in Washington state? If XE can't figure things out in the next day or so I guess USForex is next on my list. Luckily the Pound dropped right back down a bit again.

Thanks Alan......I was sure impressed with the call from MoneyCorp asking me to complete my sign-up. I wonder why they couldn't deal with me while I live in Washington state? If XE can't figure things out in the next day or so I guess USForex is next on my list. Luckily the Pound dropped right back down a bit again.

MoneyCorp is only licensed to operate in a few states.

http://www.moneycorp.com/usa/about-us/state-authorization/

MoneyCorp is only licensed to operate in a few states.

http://www.moneycorp.com/usa/about-us/state-authorization/

Dang.......only 5 states. Oh well......just looked up what a trade through XE would be...ouch. At least what they quoted me online it was over 3 cents on the Pound higher than the price nobody gets. A quick check on USForex was at least a cent less than that. I will be waiting until this next week to figure out which company to go with. At least I do seem to be able to move money with XE now......even though it takes them days to answer emails....of course they might not be happy with me after my last email wondering what the heck they were doing.

If it's a large amount, you might be better off doing a wire transfer via your bank. As I've stated before, even with the transfer fee ($45 last time I did it), the 'net rate' for $100K was perfectly acceptable, and far less hassle.

If you want to be sure of the rate, ask the bank to transfer as GBP, not USD.

Just an update. STILL waiting for xe to finish the process. Asking for my limit to be increased over the $10k limit causes a bunch of other hoops to jump through. I was on the phone 2 days ago with them and I think they were quoting me a difference of just under 1 cent added to the exchange rate (on $64K)....which if true is fine with me. Just waiting on them to contact my bank....I guess just to make sure I am who I say I am. Pound was edging down again so I would like to get this first chunk of money moved.... now.

Well....after a good 2 weeks I have finally got clearance to move money with a limit of $100K. The scary thing is the final clearance requirement. I called for a "wallet verification" interview. Basically the lady asked me how much debt I had on our house+car......when I answered that we had no debts. She said that's fine and the OK email would come in the next day. She just took my word for it. That is kind of like asking a terrorist in the airport if they have a gun....their answer is no.....so they just let them on the plane. Now I just need to move some money tomorrow and see what the increase from the exchange rate is.....hopefully under the 1 cent they quoted me last week. But if it's anywhere near 1 cent.....it will beat the bank by a long way.