Whats the best way to get a good exchange rate when transfering US dollars back to GBP?
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Can anyone tell me the best way to get a good exchange rate when transferring approx $180,000 US dollars back into GBP as the banks are not giving a good rate but some company's over the internet are giving a far better rate. has anyone used any of these company's before as i am a bit wary of using them in case my money goes missing or they don't provide the exchange rate they are advertising
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Answer:
The best legal way to do this is to use the money via checks or credit cards that are GBP denominated, but paid out of a USD account. For example, if you have expenses in GBP, you can pay them using a credit card that is sourced in USD. Credit card companies get very good exchange rates, but be careful about fees. Some are really high so you need to do research. If you need to move the money all at once, set up a transfer with your bank and watch the Interbank rates for USD -> GBP. The bank will quote you the rate before the exchange, and you can tell them what you will accept. There is a lot of room for negotiation. Good Luck
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Other answers
The best legal way to do this is to use the money via checks or credit cards that are GBP denominated, but paid out of a USD account. For example, if you have expenses in GBP, you can pay them using a credit card that is sourced in USD. Credit card companies get very good exchange rates, but be careful about fees. Some are really high so you need to do research. If you need to move the money all at once, set up a transfer with your bank and watch the Interbank rates for USD -> GBP. The bank will quote you the rate before the exchange, and you can tell them what you will accept. There is a lot of room for negotiation. Good Luck
you can check out the real time exchange rates here usd to gbp http://usd.exchangerates24.com/currency-converter/gbp/ for usd only http://usd.exchangerates24.com/ for gbp only http://gbp.exchangerates24.com/
you can check out the real time exchange rates here usd to gbp http://usd.exchangerates24.com/currency-converter/gbp/ for usd only http://usd.exchangerates24.com/ for gbp only http://gbp.exchangerates24.com/
Sean
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