Transferring money from abroad

sten102 | 22:44 Thu 06th Nov 2008 | Personal Finance

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Hi, I wonder if you can help me. I want to transfer some money, about 5000 dollars, from a bank account abroad to my UK bank a/c, and I want the best deal. Should I receive the amount (in UK a/c) in pounds or dollars - which will give me the best rate normally? Also, rather than having to pay a fee for the electronic transfer (around $35?), is there a cheaper way to transfer it?
Thanks!

Banking on line???

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manly-v

Use a foreign exchange specilaist bank. These banks heve GREAT exchange rates (just off the interbank spot rate) and charge no commission or fee.

They will handle the exchange rate and the transfer - I would definitely exchange the $ into �.

You can set it up and have the transfer done in 1 day if you provide the info fast.

Here is a list ofsome UK Foreign exchange banks -

http://www.whichwaytopay.com/compare-foreign-e xchange-summary.asp

I used world first - good service, good rate.

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