Transferring money from US to UK
There are a variety of money transfer service providers offering options for sending money overseas. Many offer small- or no-fee options for transferring money from US to UK services. Finding out the details of how to transfer money from the US to the UK is easy if you have access to an internet connection and are willing to transfer your money online, as there are many websites today that specialize in online money transfers and they are often faster and cheaper than traditional methods such as banks or financial services companies. For example, most online money transfer providers offer a minimal flat fee for a wire transfer to the UK or waive the fee entirely, whereas a traditional bank will charge around $30 for the same service. Most online money transfer services place no limit to how much money you can send from the US to the UK, and offer better exchange rates for higher wire transfer amounts. If you choose to go with a service provider, they can often offer additional services such as a local market forex specialist and local market settlement, which can help speed up the transfer process, as well as potentially help avoid additional wire fees. A wire transfer service can also help with local property purchases, or provide business services such as forward contracts, which can help to alleviate exchange rate risk.
When sending money internationally from the US to the UK, it can take up to three business days. Generally, this breaks down into two days for the US bank to wire the money to the UK, and then one day to convert Dollars to Pounds and transfer the amount into the UK account specified. If you are making an online money transfer from a bank, they often have policies that transfers initiated after the business’s stated currency cut-off time, or transfers that are made on a weekend or a public/bank holiday, will be processed the following business day. Also, many financial institutions place a limit on the amount of money allowed for a money transfer, so it is best to ask up-front to make sure you allow enough time for sending your funds. It is important to research your options so that you find the best way to transfer money from the US to the UK that meets your needs.
Online money transfer service providers often offer around-the-clock service, including account access from a computer, tablet, or mobile phone so that you can track your transactions at your convenience. They send email updates that are automatically delivered to your inbox with transaction information, and can also send an email to your recipient. Many online money transfer service providers will also send you a text message when your transfer arrives at its destination, and offer live 24/7 customer support, often in multiple languages.
When transferring money from US to UK, be sure to choose a fully regulated and licensed money transfer service provider that follows all applicable government rules. This will ensure a safe and legal transaction for you and your recipient.