Expat Forum For People Moving Overseas And Living Abroad banner

Status
Not open for further replies.
1 - 3 of 3 Posts

·
Registered
Joined
·
17 Posts
Discussion Starter #1
I will be moving from the US to the UK for an extended period of time. While in the UK I will continue to work for a US employer and have my salary paid into a US bank account. I will need to transfer money each month to pay for rent and living expenses.

What is the best way to get money from the US to the UK, maybe about $2,000-$3,000 per month. I would like to avoid having to pay high fees if possible although I know I'm going to get bitten by the exchange rate.

Open a bank account with a UK bank? Paypal? Wire Transfer? ATMs\Cash Machines?

If anyone has found an efficient method with minimal fees, I would appreciate learning from your experience.

Thanks!
 

·
Registered
Joined
·
533 Posts
If you can try to open a UK bank account. My husband and I use to exchange money back and forth from the US thru Thomas Cook. I think the website is www.thomascook.com just have a look at it. I'm not sure what the cost the transfer money was but I don't think much. But banks usually charge a fee also for the international transfers. I think my US bank charges dollar something and his UK charged pound something. Now we just use PayPal but its for smaller amounts and there is still a small fee.

Good luck and maybe someone has experience with a better option!
 

·
Registered
Joined
·
3,850 Posts
I will be moving from the US to the UK for an extended period of time. While in the UK I will continue to work for a US employer and have my salary paid into a US bank account. I will need to transfer money each month to pay for rent and living expenses.

What is the best way to get money from the US to the UK, maybe about $2,000-$3,000 per month. I would like to avoid having to pay high fees if possible although I know I'm going to get bitten by the exchange rate.

Open a bank account with a UK bank? Paypal? Wire Transfer? ATMs\Cash Machines?

If anyone has found an efficient method with minimal fees, I would appreciate learning from your experience.

Thanks!
Open a checking account in the US with Everbank then apply for a World Market Sterling currency account with them. They don't charge any fees, pay credit interest on these accounts and their exchange rates are excellent.

Then open a UK account (you may be able to get an offshore account before arriving) then provide those details to Everbank. Your salary goes into the US checking account, you transfer what you want into the sterling account and then wire transfer that to the UK account. This is all free but you might get charges on the UK account. I've been doing this for two years here in France and it works great - they have great customer service as well should you need it.

Cheers
 
1 - 3 of 3 Posts
Status
Not open for further replies.
Top