How to transfer money

I know this is not tax-related, but I can't find a general forum for financial matters. I don't mind if this gets moved.

I need to transfer money to my fiance in the UK. I have been informed by my bank, where I have about $30,000 in a checking account, that they do not do international wire transfers.  The only thing I can think of is to withdraw cash and then send money through Western Union. However, there seems to be a 15% charge, plus it's inconvenient for my fiance to travel to a Western Union office, show id (they say they need a passport, birth certificate, or picture driving license--all he has is a passport, and that won't be in his possession for a while because I'm going to need it to apply for the fiance visa) and all that, when he has a perfectly good checking account at a nearby bank.

Is there a better/easier way to do this? I would really like to be able to deposit money directly into his account.

I work in New York City, right near Grand Central Station and the United Nations, so there have to be convenient international financial services around here.

can you each set up a paypal account?  that works.

My fiance hates paypal. He has a little semi-business through the internet that uses paypal. He rants about how bad they are, and how difficult it is to get paid. I wouldn't even suggest it.

I think I'm just going to mail him checks, which won't cost me anything extra. Although, he would still have to pay his bank a fee to transfer from dollars to pounds.
I had thought it would be great to just instantly wire money from my bank to his, but my bank won't do it.

That's really weird that your bank won't do an international transfer.   I think you are right, cheques are probably the safest way of doing it. Western Union is good for smaller amounts but not if you want to transfer the entire $30 000 in one go.   You could also try "Nochex" whic his similar to Paypal.

Oh great. My fiance has now told me that it takes 8 weeks for a check from the US to clear at his bank.  (He's received American checks from American companies.)

This is really concerning me because I was thinking of adding a family member to my US account so they could send money to me in the US whenever I needed it. Any advice?

my suggestions:

- Why not just write one cheque for the whole lot and put it in a savings account over here?

- Or have you got a credit card or cash card from the US that works in money machines in the UK that you could use to withdraw funds while in the UK?

- Maybe you could load up your US credit card with money from your savings and then use it as and when you need it?

I can use a cash machine. I already know that my credit cards and debit card work in York ATM's.

I don't think I will be able to open a UK bank account for a while, considering that I am going on a fiance visa, so won't be married, won't be working, don't have credit in the UK.

I want to maintain my US bank account as I will have bills to pay in the US. Plus I have a substantial amount of money in US savings bonds in the US, and I need a place to cash them.

While I am still in the US, I want to send my fiance some money for purchases, and to pay for half his rent, which I promised to do so that his roommate can move out. It's sort of a catch-22, I can't move in with him till his roommate leaves, and he can't afford to ask his roommate to leave till I start contributing to the rent.

It does take a crazy long time for a US check to clear a UK bank.  I either use paypal or will use my US credit card and then pay it off out of my US bank (that still has money in it).  I get a pretty good exchange rate on my credit card and I have never had someone say they wouldn't take a US card.

Really though, if you are looking for a long term solution, Paypal is the easiest way to go.  For example, I have to pay student loans and I will eventually have to do that out of my UK bank account.  Even though my UK and US bank will do wire transfers, it gets expensive so I can do the paypal thing.  

I wanted to add that the easiest way to get a UK account as a fiance is to get added on to your fiance's account.  I have known many people to get added immediately.  Some people have had trouble, but it really is if the bank wants to hassle you.  If you don't get added, you can get a very restrictive account once you have 3 months of some bill in your name.  Funnily enough, a bank statement or credit card statement works, even if it is a US one.  So, you may want to go ahead and change your address on one of your credit cards or whatever and you can start getting proof of residency built up, even though you don't live there.

And about the bank situation, if you don't want to use any of the options suggested, you can always get a different US account that does wire transfers.

It also occurred to me, when your bank said they didn't do wires, did the person mean at that branch or at all?  When my mom wired me money, she said her bank didn't do them.  That was incorrect and the main branch did, but my mom interpreted it to mean that they didn't do them period.

I called the bank's main number, not my local branch, so they don't do international transfers at all.

I really don't want to move all of my money into another US bank. It is a hassle, and I think it looks suspicious. Also, I've got all my bank records together for my fiance visa. I've got my bank statements for the past 6 months. I think it would look odd to the interviewer to have all of my money be moved to a different account just before I applied for my visa.  People are always suspicious when large sums of money are moved about; they would be even more suspicious if a move to another country is also in the picture. And I just got through with moving the money from my savings account into this checking account, so that all my money would be consolidated.

I am going to ask about getting my name on my fiance's account once I move to the UK. Also, I tried to see if I could get his name on one of my US credit cards, so he could withdraw money on my account via an ATM, but he needs a social security number.

P.S. Something kind of weird happened with Paypal.  I looked on Paypal's website, and it said you could send money to an individual, so I thought I'd try with a very small amount, even though my fiance doesn't like Paypal. So I entered 25 pounds and typed in his email address, and I got an email saying the money had been sent to him. Which I couldn't understand since I hadn't supplied his bank account info or anything. So I checked and it turns out that based on the email address, they automatically put the money in the account for his tiny business.

I am going to ask about getting my name on my fiance's account once I move to the UK. Also, I tried to see if I could get his name on one of my US credit cards, so he could withdraw money on my account via an ATM, but he needs a social security number.

American Express will do it. My husband has an American AMEX on my account and I have a Brit AMEX on his. Wasn't a problem.
Bethany

American Express will do it. My husband has an American AMEX on my account and I have a Brit AMEX on his. Wasn't a problem.
Bethany

American Express is the account I tried to use. I went to my account online. There is an option to add a person to the account. It says you have to provide a social security number.

edit: Later, I found at that the currency exchange where I get my British money will transfer my cash dollars to pounds and deposit it directly into a UK bank account. I haven't checked how much this will cost though. I'm going to have a look at their website, if they have one.

Also, my sister has an account at Chase which does international banking; she said she would open up a joint account with me. So all is well

In addition, I went to the website for one of my other credit cards, and it says you can add another name, and they don't ask for any details, just the name, but I would be 100% responsible for all finances because they don't check the credit of the other person. So I think it might work.

You can't do it online--I forgot that until you said something. Just call them and they can do it over the phone. Didn't take 5 minutes~
Bethany

P.S. Something kind of weird happened with Paypal.  I looked on Paypal's website, and it said you could send money to an individual, so I thought I'd try with a very small amount, even though my fiance doesn't like Paypal. So I entered 25 pounds and typed in his email address, and I got an email saying the money had been sent to him. Which I couldn't understand since I hadn't supplied his bank account info or anything. So I checked and it turns out that based on the email address, they automatically put the money in the account for his tiny business.

It is not weird, that is how Paypal works.  You enter your email and your details on your end (if you want the money to go to a bank or credit card, etc.).  If people want to send you money all they have to know is your email address.  It makes since really.  You had your fiance's info, but most people aren't going to.  Paypal is laargely used for ebay and whatnot, and I don't know about you, but I am not giving my banking details to someone off of ebay.   

Send your fiance' one of your ATM cards and give him the PIN, so he can draw out money from the cash point in York up to the daily limit and deposit the cash into his account.

Pretty simple really.

And I added my husband to 2 of my US credit cards whilst we were still living on 2 different continents and they didn't ask for a SSN.