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Hello everyone,

I'm in the process of settling all my affairs in the US in preparation for my move to the UK on the 30th of November. I was wondering if anyone had any suggestions on what would be the best way to bring cash. Its not large amount but a pretty descent nest egg to keep me going until I find work. If I exchange it at the post office I will lose quite a bit with fees and exchange rates. Would it be best to keep my bank account in the US open and use it that way or have it all transferred into my husbands account? I realize I'll lose some with the exchange rates regardless. I'm just looking for the best way to save as much as possible.
Thanks in advance,
A
 

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Some American banks (my credit union is one) will allow a forgein address, so for now the American money is staying there, I use my ATM card when I need some cash.
 

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Hello everyone,

I'm in the process of settling all my affairs in the US in preparation for my move to the UK on the 30th of November. I was wondering if anyone had any suggestions on what would be the best way to bring cash. Its not large amount but a pretty descent nest egg to keep me going until I find work. If I exchange it at the post office I will lose quite a bit with fees and exchange rates. Would it be best to keep my bank account in the US open and use it that way or have it all transferred into my husbands account? I realize I'll lose some with the exchange rates regardless. I'm just looking for the best way to save as much as possible.
Thanks in advance,
A
If you want to keep your account open in the US, be sure to check with them to see if use of your debit card is allowed in the UK. I waited until the last minute and then found out mine is not, due to a high fraud rate (I use a small credit union). If I'd known that sooner, I would have looked for a larger institution that allowed international banking.

Now I'm stuck trying to pay 2 credit card bills from here. They won't accept payment from a UK bank and wiring funds to my credit union costs 25p here, plus exchange rate, $20USD at the receiving credit union (a larger one used as a clearing house) and then $10USD at my credit union. So, it essentially cost us $65-$70 to put $170 in our US account. :mad: It is asinine in this day and age.

I brought $350USD with me and it's sitting here, useless. The only way to get it back into my account is to face the exchange rate here and the wire fees.

Western Union has started offering a new service of wiring into bank accounts, but unfortunately, they won't do it in the US. Short of flying back and getting a new account, I haven't found any solution. :mad:

Usually, there is an upper limit of cash that is allowed (I'm not sure but $10,000 comes to mind), but you have to be sure to declare it when you enter.

Good luck.
 
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If you want to keep your account open in the US, be sure to check with them to see if use of your debit card is allowed in the UK. I waited until the last minute and then found out mine is not, due to a high fraud rate (I use a small credit union). If I'd known that sooner, I would have looked for a larger institution that allowed international banking.

Now I'm stuck trying to pay 2 credit card bills from here. They won't accept payment from a UK bank and wiring funds to my credit union costs 25p here, plus exchange rate, $20USD at the receiving credit union (a larger one used as a clearing house) and then $10USD at my credit union. So, it essentially cost us $65-$70 to put $170 in our US account. :mad: It is asinine in this day and age.

I brought $350USD with me and it's sitting here, useless. The only way to get it back into my account is to face the exchange rate here and the wire fees.

Western Union has started offering a new service of wiring into bank accounts, but unfortunately, they won't do it in the US. Short of flying back and getting a new account, I haven't found any solution. :mad:

Usually, there is an upper limit of cash that is allowed (I'm not sure but $10,000 comes to mind), but you have to be sure to declare it when you enter.

Good luck.
Have you had of transferwise? Is cheaper than western union and bank transfer . look it up. When I wire 2000 pound to my account in BOFA I pay less than 25 pound as commission.
 

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Have you had of transferwise? Is cheaper than western union and bank transfer . look it up. When I wire 2000 pound to my account in BOFA I pay less than 25 pound as commission.
No, I hadn't. Thank you for the info - I'll check them out! I'm desperate to find some better way of doing this.

My goal is to become an international expat and live in different countries for varying amounts of time, but between the hassle of entering countries (gotta love the airport nightmares), and the difficulty of financial transactions, I'm very discouraged that it will actually happen. :(
 

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You might get the best rate here, based on the reviews I read in March this year. (I can't find the links). I have not used the company personally as they do not accept the currency I need.

CurrencyFair - Peer to Peer Foreign Exchange | CurrencyFair

I usually use HiFX (with £0 charge on £3K +) and World First which are UK-based. I find World First rates one of the most generous when I transfer quite a bit of money.

If you have a Citibank account in both the US & the UK, the transfer and FX is free between . But I don't know about the rates as I have not yet opened the accounts I need for the UK and my country.
 
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