# Cheapest way to transfer money from UK to USA



## Madhouse1964 (Feb 13, 2015)

What is the best way to transfer my money from UK bank account to US once I move? I don't want to lose a big chunk of it in fees or exchange rates. I even considered putting it all onto one of those travel debit cards then once there withdraw it in big chunks then put that cash into my new account.


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## Bevdeforges (Nov 16, 2007)

Most folks here swear by the exchange transfer services, like XE XE Trade Money Transfers or HiFX or similar services. I'm sure you'll get a few recommendations here. 
Cheers,
Bev


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## BBCWatcher (Dec 28, 2012)

Do you need to move your money -- will it be lonely without you near?  -- or do you simply need a way to tap into U.K. funds to spend money in the United States? Most people need the latter, not the former. To do the latter, use low cost U.K. debit/ATM and credit cards.

The lowest cost U.K. issued debit/ATM card at the moment appears to be the card issued by Norwich and Peterborough with their Gold Classic account, though you must pay in £500 per month or maintain a minimum balance of £5000 to avoid a £5 per month account fee. As long as you use that card at ATMs in the U.S. (and elsewhere) that are free of local operator charges -- there are such ATMs in the U.S. -- and as long as you don't overdraw your N&P account, you get a good exchange rate (the card network rate with no additional markup).

Among U.K. issued credit cards (for merchant spending not cash withdrawals, and assuming you pay off your full monthly balance on time, preferably automatically so you don't forget), there are several choices. Halifax's Clarity and Aqua's Reward credit cards look good, as examples.


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## ForeignBody (Oct 20, 2011)

The best way is one of the many exchange services, which are generally much less expensive than high street banks because of better exchange rates and low or no fees.

The ones often mentioned are xe.com, transferwise, worldfirst and TorFx. I have used TorFx and found them to be excellent. HiFx, mentioned by Bev above, does not do GBP to USD transfers.

You may also find this link helpful: Foreign Exchange Companies to get Best Currency Exchange Rates


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