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Subject:
Transferring Money into the US
Category: Business and Money > Finance Asked by: cpete-ga List Price: $20.00 |
Posted:
11 Aug 2005 07:23 PDT
Expires: 12 Aug 2005 06:49 PDT Question ID: 554441 |
I have a sum of around GBP100,000 that I need to transfer from the UK to the US. I have been told that a wire transfer from my UK to US checking accounts will not get a particularly good rate of exchange. What are my other options? |
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There is no answer at this time. |
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Subject:
Re: Transferring Money into the US
From: myoarin-ga on 11 Aug 2005 14:20 PDT |
As an ex-banker, I don't think you have any options other than the choice of having the UK bank transfer the funds in Sterling OR in US$. In the first case, then the US bank would handle the exchange to dollars, in the latter, the UK bank would, which I would recommend, since it will be more familiar with exchange. You may ask the bank if it makes any difference - what difference - if it exchanges the funds immediately OR if it makes a foreign exchange contract that will be settled two business days later and then transfers the dollars. I rather doubt that it will agree to making a contract for that amount, and it probably wouldn't make much difference. But I may be wrong, and then someone will come along and say so - I hope. Myoarin |
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