Moving money to the UK

(8 Posts)
DoctorGilbertson Thu 28-Sep-17 08:56:19

We are about to sell a flat in a non-US, non-EU country with a purchase price in US Dollars.

The seller is making a transfer (in US Dollars) to the UK. Has anyone got any experience about the best way to receive this money? We were just going to get a transfer to our UK high street bank but if anyone has done this a different way then recommendations would be welcome.

OP’s posts: |
BarchesterFlowers Thu 28-Sep-17 09:00:47

We move money from US to UK fairly often, we have got a $ bank account in the US.

You will just get the relevant exchange rate on the day and an international charge.

Not sure if there are any other options in your circumstances.

DoctorGilbertson Thu 28-Sep-17 09:07:20

Thanks.

OP’s posts: |
SandBlue Thu 28-Sep-17 09:08:33

Thats the way Id do it.
Will the seller became to transfer sufficient in one go? He might need to go continue bank to authorise rather than internet banking sort of transfer.
Make sure it's clear who is paying the fees (e.g. house sale is 100, do you receive 95, or does he need to pay 104 to ensure you get your 100)

BarchesterFlowers Thu 28-Sep-17 09:11:26

I have transferred large sums in one go. Over the phone rather than anything else but that isn’t your problem here.

DoctorGilbertson Thu 28-Sep-17 09:13:18

Yes, we had already factored in the fees for the transfer.

Good to know that this is what other people would do too.

OP’s posts: |
misssmilla1 Thu 28-Sep-17 18:59:54

I've used a foreign exchange broker before for US > UK transfers. All totally above board and a better rate and a set fee, compared to the banks and I understand they do this for lots of different countries.

BUT (there's always one..) there was a limit as to how much could be sent without an extra layer of verification, due to money laundering purposes.

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tb Sun 01-Oct-17 16:42:45

We move money every month from the UK to FRance in euros.
We've used various firms of currency brokers, but are using Currency Fair at the moment.

If we pay 8€ for the transfer it leaves LLoyds in the morning and is in our French account in the afternoon, at a much better rate than any bank would give us, and without £30 for a chaps transfer. It's easy to open an account with them.

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