The intermediary bank charges make a big dent when the amount to be transferred is £250 - £500.
PayPal is one possibility, but their charges, plus commission also makes this expensive.
Can anyone suggest a cheaper way in this case from one bank account in the USA to ours in the UK?
In message , Fredxx writes
Try Currencyfair
Looks good - registered but there seem to be some money laundering hoops to jump through!
Many thanks.
That's true, but I didn't find it that onerous. Have used them frequently during the past 18 months or so for transfers between UK and Spain and the service has been faultless. Funds transferred from my UK bank (using faster payments) are received in Spain the next working day. I liked the fact that the rates that you can see on their homepage are current actual rates which you can see before signing up, unlike the indicative rates often used elsewhere.
There's a long discussion here on going UK to elsewhere. Presumably some of it is reversible. I haven't read it all or tried any of the suggestions.
Have something to add? Share your thoughts — no account required.
Ask the community — no account required