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Cheapest Way to get $9K from US bank account (not mine) to UK sterling bank account please

(7 Posts)
SlapAndTickle Mon 04-Aug-08 18:59:40

Using Paypal it will cost me over £300 !

Please can anyone advise or do you have experience of this. This is the money I have just sold a domain to a US buyer for.

RubySlippers Mon 04-Aug-08 19:02:42

i got a cheque in dollars and deposited in business account (this was for work)

they calculated the exchange rate and the money was there within 7 days = had to fill a couple of forms in

i don't think there was any commission

lljkk Mon 04-Aug-08 19:03:45

There are companies that specialise in larger value money transfers, they are supposed to get you a spot value rate (what the stock markets use) minus a small commissin value (less than the £300 anyway). I used Moneycorp, but I think it wasn't the best service.

AtheneNoctua Mon 04-Aug-08 19:19:51

Have you asked your bank what the fees would be for an international transfer? Might also check and see if you have to pay income tax on this money to bring it into the country.

I have a US bank account if you need somewhere to put it. smile

GrapefruitMoon Mon 04-Aug-08 19:23:54

Only time I've transferred money from the US to here I used a bankers draft - bank said that was the cheapest - but this was in the days before electronic banking.

My dad often transfers money from his bank account (in a EU country) to mine and it doesn't cost much, whereas to bank a cheque from him would attract a huge fee...

mammya Mon 04-Aug-08 19:45:13

I've used UK Forex, which is a company that specialises in money transfers. It was really easy and quick, I would recommend it.

SlapAndTickle Mon 25-Aug-08 23:03:38

ha ! in the end the US buyer paid the transfer fee. However it did cost me £125 to convert the currency.

Used Paypal

thanks all

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