Advice on FX rates and sending money to the USA

Greating's and salutations,

I have a dilemma. I need to send £25,000 to my sister in the USA.
Halifax is offering £1 - $1.25 exchange rate which seems a bit low.

There seems to lots of online FX brokers online but I am not if they are safe. What other opens are there?
Sorry it is a bit of a fast ball as she only asked this evening.
 
One word: Transferwise. Always offered better rates for me when I had to shift money. Right now, just checked on my app for your amount, they do 1 gbp to 1.30-ish USD. And they are fast too.
 
The recipient can apparently get it by the 12th. HSBC could be slightly quicker, but is definitely more expensive.
 
One word: Transferwise. Always offered better rates for me when I had to shift money. Right now, just checked on my app for your amount, they do 1 gbp to 1.30-ish USD. And they are fast too.
Thanks, that is a better rate. I will do my due diligence on the company.
 

Oyibo

LE
Moneycorps do a very good FX transfer - you'll need to open an account, and they will give you a spot price on the exchange rate (Haggling is allowed).

I saved about 30k on exchange rates (compared to ordinary bank transfer) when I transferred money for the deposit on my house.
 

nonstop

Swinger
My mate transferred 300,000 pounds and used a company called Tor FX, based in the West Country. He said they were very good.
 
Thanks, that is a better rate. I will do my due diligence on the company.
I definitely think it's trust worthy...have used it since 5 years so far, never had a problem, had to transfer lots of funds to the U.S.. And a lot of my Kiwi and Aussie friends use it every year to transfer their money back and forth from NZ and OZ without an issue.

But yes, do your research.
 
If you are worried for that kind of money it is also worth asking your bank if they will do a close to wholesale rate for you through their forex people. A mate was a FOREX trader at HSBC and half of his work was doing deals for individuals.

I cannot remember the broking service we used, but when we were sending money back and forth to the US we had no issues at all and saved a few $.
 
We use OFX for business transfers. We transfer around AU$ 200k into US$ at a time and do so 4-5 times a year.

Hargreaves Lansdowne have a good service too. I use it to transfer my pension every month as I get a better rate than XAffinity provide.
 

endure

GCM
One word: Transferwise. Always offered better rates for me when I had to shift money. Right now, just checked on my app for your amount, they do 1 gbp to 1.30-ish USD. And they are fast too.
I did a test transfer with Transferwise in December. It took 8 days...
 

endure

GCM
Try Caxton. Give them a call for that amount
 
I did a test transfer with Transferwise in December. It took 8 days...
Hmmm...mine always took between 2 to 4 days. I transferred money to both the U.S. and OZ. These things can be a bit variable of course.

For urgent same day/ next day transfers, and if you are willing to pay more, just use your bank. I bank with HSBC and they are almost instantaneous, even for overseas transfers, maybe in a few hours. Obviously within the UK while I was there they transferred stuff in seconds.
 
Hmmm...mine always took between 2 to 4 days. I transferred money to both the U.S. and OZ. These things can be a bit variable of course.

For urgent same day/ next day transfers, and if you are willing to pay more, just use your bank. I bank with HSBC and they are almost instantaneous, even for overseas transfers, maybe in a few hours. Obviously within the UK while I was there they transferred stuff in seconds.
Or use Bitcoin!
 
I used hifx.co.uk when we bought a house in Canada, no issues whatsoever and their rates were competitive.
 
I use Chase Transferwise from the app on the old phone. Never any issues, and discounted. Even better when you both have Chase accounts. I think the personal limit is $100,000, so should be fine there as well.

Just get it in before 1400 local, and it's a couple days. Longest wait I had was with a transfer to China last month that took from Thursday afternoon until Monday morning.
 

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