Transferring money from UK to USA.

[BethEJo]

Hi,

I know this is a bit of a random question, but I was wondering if someone can help me.

I'm looking at transferring money from my bank account in the UK to a friend's bank account in the USA... does anyone know the best way to go about this?

Is it possible to do over Paypal? I've just done a quick Google, but haven't found anything useful. I've transferred money through Paypal to people within the UK, but have no idea if it's possible to do so to the USA...

Also, I looked at Post Office, and it seems the minimum you can send is £250 (I only want to send £160), and I've also checked out Moneygram, but the fee is £19

Any other ideas?

Thanks

 

[chmurf]

western union

http://www.westernunion.co.uk/WUCOMWEB/staticMid.do?pagename=HomePage&method=load

can send direct to US bank account

sending £100 will cost £9.8 in fees.

 

[BethEJo]

western union

http://www.westernunion.co.uk/WUCOMWEB/staticMid.do?pagename=HomePage&method=load

can send direct to US bank account

Thanks for that I just calculated the price, and their fee is just over £19 too

 

[Ware Bears]

I've used paypal to pay someone in the US before, it just gets converted into dollars - not the best rate going but not the worst.

 

[madmumof2]

You can send to someones paypal, conversion not too good.

You can also send a bank transfer, rate can be ok, can be bad, and there's normally a £15 ish charge.

You can send money free through the post office, I'm assuming the conversion rate will be the rate on the day?

Or you could get a travel money card (again I use post office), get a US one, load it with your currency, she can use it in the US Again, rate will be the rate of the day. Currently £1.56 I think today.

Part of my job is sending and receiving money overseas, I send to the US, Australia, Spain etc all the time, and no one way is better than the other, it depends on what it's for and how much.

Paypal is the quickest and easiest but not that good a conversion rate.

Bank transfer is easy once you know their details, it'll take a few days to reach the other bank and you won't know how much exactly will arrive until it arrives but generally the rate is better than paypal, although there is a charge to do so, so if it's a small amount probably not worth it.

Travel card you'll know exactly what you are getting for your £, instant load, and can send her the card number details for her to use online. If she needs to withdraw cash though you'll need to send it so could take a week to get to her.

 

[Samaya]

Not sure if this can be done from the UK or is an option that your friend would want to use but what about ordering and sending them a Disney Gift Card to the value of $250 (approximately £160).

Might be a cheaper option and can purchase using a credit card.

Check out this option by going to http://www.disneystore.com/gift-cards/mn/1001265/?catalogFromSearch=10002

 

[kitcat1]

We live in France so tend to transfer money fairly often and have found a currency company the best so that you can get the better rates. I think you will find that Paypal is very expensive as basically they are convenient and quick but their rates are very bad. Have a look at currencies direct or google currency companies.

Hope you get a fab rate!!

Cath

 

[skelfbsfb]

I always use paypal, the rate generally is 3/4 cents below the ineterbank rate. The whole process generally takes around 5-7 days from your account to your paypal account then another 2 days to the US account. I dont get charged for doing this.

 

[madmumof2]

The other person may though depending how you send it. If sending as goods, the other person pays a fee. If sending as a gift you shouldn't get charged a fee but may do, depending on the other persons account.

 

[starry_solo]

You're in the UK and your friend is in the US? Does she need the money quickly? If not, try an international postal money order.

I am pretty sure when I used to sell on eBay (before PayPal) and the buyer was in England, they could send me an international postal money order. Purchased with pounds but cashable in US dollars (no idea what the fee is).

I did a quick search and came up with these sites:
http://en.wikipedia.org/wiki/Postal_order

which says: "The maximum value of Postal Order available is £250.00 with the fee capped at £12.50."

http://www.postoffice.co.uk/finance/making-payments/postal-orders

There will always be fees.

Oh, and of course, you would have to mail the money order to your friend.

 

[aaronandterri]

we have a $$ accounti always use paypal to top it up every month, i add funds from my uk bank account then when there in my paypal account i withdraw to the us $$ account (the paypal acc is in my name and the $$ one in my husbands) and weve never had a problem or any fees, and conversion rate isnt that bad generally only pennies below or same as high street.

 

[Lisa1976]

I'm another vote for Paypal. I have a Sun Trust account and always transfer from my Barclays account here to Paypal and then Paypal to Sun Trust, completely free too