# Best way to transfer US $ to UK bank account **URL:** \ **Category:** Factual Questions\ **Created:** [April 11, 2003, 7:04pm UTC](https://boards.straightdope.com/t/best-way-to-transfer-us-to-uk-bank-account/168095 "2003-04-11T19:04:17Z")\ **Posts on this page:** 12\ **Page:** 1
**Author:** ![chickendoc](https://avatars.discourse-cdn.com/v4/letter/c/82dd89/32.png) [@chickendoc](https://boards.straightdope.com/u/chickendoc)\ **Post date:** [April 11, 2003, 7:04pm UTC](https://boards.straightdope.com/t/best-way-to-transfer-us-to-uk-bank-account/168095/1 "2003-04-11T19:04:17Z")
What’s the best way to transfer US $ to a UK account? I’m moving to the UK in a month and need to set up a checking account. When I make an initial deposit, should I carry a big wad of US greenbacks, write a personal check, travelers checks, wire the money over or what? thanks ---
**Author:** ![MLS](https://avatars.discourse-cdn.com/v4/letter/m/919ad9/32.png) [@MLS](https://boards.straightdope.com/u/MLS)\ **Post date:** [April 11, 2003, 7:23pm UTC](https://boards.straightdope.com/t/best-way-to-transfer-us-to-uk-bank-account/168095/2 "2003-04-11T19:23:56Z")
I am in the US and have never done any banking in the UK, but last year I had to send some money to Australia (long story omitted here). The same methods may work. If you already have the bank account set up in the UK, contact your stateside bank and tell them you need to make a wire transfer. They will tell you what info you need and the transfer can be done very quickly. I would not suggest carrying a big wad o’ cash (you were joking, right?). There will be a fee for the bank to transfer the money, but there would be a conversion fee regardless of what method you use. Writing a personal check might be more hassle on the UK end. Travelers checks would also work, but then you have to carry them with you. Sure, you could get the money back if you lose them, but you’d have a delay while they were replaced. ---
**Author:** ![Duckster](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/duckster/32/1244_2.png) [@Duckster](https://boards.straightdope.com/u/Duckster)\ **Post date:** [April 11, 2003, 8:01pm UTC](https://boards.straightdope.com/t/best-way-to-transfer-us-to-uk-bank-account/168095/3 "2003-04-11T20:01:25Z")
1. Go to your USA bank and get a bank check for $1,000 (seed money). 2. Tell them what you are planning to do, and ask for their wire transfer information. 3. Once in the UK, open your new account with that bank check. 4. When the account is open, have your new bank wire transfer the rest of the money from your USA bank to your UK bank. Do not carry cash, travellers checks, etc., as your initial deposit into your new account (but don’t let this stop you from taking travellers checks as a traveller!). The reason for the $1,000 seed money bank check is to avoid having to declare the money when you leave the USA. It will be well below the new $5,000 limit. I don’t know if you will have to declare that $1,000 bank check as UK Customs. ---
**Author:** ![chickendoc](https://avatars.discourse-cdn.com/v4/letter/c/82dd89/32.png) [@chickendoc](https://boards.straightdope.com/u/chickendoc)\ **Post date:** [April 11, 2003, 8:08pm UTC](https://boards.straightdope.com/t/best-way-to-transfer-us-to-uk-bank-account/168095/4 "2003-04-11T20:08:54Z")
Duckster: Thanks for the valuable info. ---
**Author:** ![sailor](https://avatars.discourse-cdn.com/v4/letter/s/a587f6/32.png) [@sailor](https://boards.straightdope.com/u/sailor)\ **Post date:** [April 11, 2003, 8:38pm UTC](https://boards.straightdope.com/t/best-way-to-transfer-us-to-uk-bank-account/168095/5 "2003-04-11T20:38:35Z")
I believe the limit is $10,000 and not $5,000 but there is no benefit in not having to declare the money. . I often carry wads of travellers checks with me for several reasons and they have always worked fine. The main reason is that very often they are the cheapest and simplest way to do it. A travellers check is as good as cash anywhere you go. No question. OTOH, some years ago I had a large amount wired from Europe and Citibank screwed up royally and it took me a couple of months to get the money. Euro bank: Yep, sent Citibank: Nope, not received. (repeat daily for weeks) Not fun when you desperately need the money. ---
**Author:** ![casdave](https://avatars.discourse-cdn.com/v4/letter/c/c6cbf5/32.png) [@casdave](https://boards.straightdope.com/u/casdave)\ **Post date:** [April 12, 2003, 12:17pm UTC](https://boards.straightdope.com/t/best-way-to-transfer-us-to-uk-bank-account/168095/6 "2003-04-12T12:17:08Z")
The fees for transferring money by wire are high, unless you intend to move large amounts. The suggestion of travellers checks is a good one. Another option is to use your credit card. Many cards allow you to write credit cheques to another account, so all you do is open a UK account, write your credit cheque and make sure you pay the credit bill when it comes through using the account from which you wish to transfer the money. ---
**Author:** ![Una\_Persson](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/una_persson/32/346_2.png) [@Una\_Persson](https://boards.straightdope.com/u/Una_Persson)\ **Post date:** [April 12, 2003, 1:31pm UTC](https://boards.straightdope.com/t/best-way-to-transfer-us-to-uk-bank-account/168095/7 "2003-04-12T13:31:26Z")
Another way you _could_ do it (which may not be the best way) is to massively pre-pay your credit card (say, write a check for $10,000 over the amount you owe), and then get it via an ATM when you need it. A chap at work does this, and swears by it, but I admit I haven’t worked out the math. One benefit he has is that work reimburses him for “all ATM fees”, so he doesn’t pay any cost on those. He claims that the exchange rate and fees are better too. ---
**Author:** ![Tapioca\_Dextrin](https://avatars.discourse-cdn.com/v4/letter/t/3d9bf3/32.png) [@Tapioca\_Dextrin](https://boards.straightdope.com/u/Tapioca_Dextrin)\ **Post date:** [April 12, 2003, 3:53pm UTC](https://boards.straightdope.com/t/best-way-to-transfer-us-to-uk-bank-account/168095/8 "2003-04-12T15:53:31Z")
I don’t know what bank you use, but Wells Fargo charges around $35 for a wire transfer ---
**Author:** ![sailor](https://avatars.discourse-cdn.com/v4/letter/s/a587f6/32.png) [@sailor](https://boards.straightdope.com/u/sailor)\ **Post date:** [April 12, 2003, 4:04pm UTC](https://boards.straightdope.com/t/best-way-to-transfer-us-to-uk-bank-account/168095/9 "2003-04-12T16:04:56Z")
\>\> I don’t know what bank you use, but Wells Fargo charges around $35 for a wire transfer Flat rate? Regardless of amount? That seems strange. In any case, that’s $35 you can save yourself if you will be traveling there personally. ---
**Author:** ![Duckster](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/duckster/32/1244_2.png) [@Duckster](https://boards.straightdope.com/u/Duckster)\ **Post date:** [April 12, 2003, 6:42pm UTC](https://boards.straightdope.com/t/best-way-to-transfer-us-to-uk-bank-account/168095/10 "2003-04-12T18:42:22Z")
> [@](#): > > \*Originally posted by Tapioca Dextrin \* > \*\*I don’t know what bank you use, but Wells Fargo charges around $35 for a wire transfer \*\* I use Wells Fago. Cost me $15.00. ---
**Author:** ![Duckster](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/duckster/32/1244_2.png) [@Duckster](https://boards.straightdope.com/u/Duckster)\ **Post date:** [April 12, 2003, 6:43pm UTC](https://boards.straightdope.com/t/best-way-to-transfer-us-to-uk-bank-account/168095/11 "2003-04-12T18:43:48Z")
> [@](#): > > \*Originally posted by sailor \* > I believe the limit is $10,000 and not $5,000 but there is no benefit in not having to declare the money. IIRC, the limit is being lowered to $5,000. I’ll try and find a cite. ---
**Author:** ![TexasSpur](https://avatars.discourse-cdn.com/v4/letter/t/a6a055/32.png) [@TexasSpur](https://boards.straightdope.com/u/TexasSpur)\ **Post date:** [April 12, 2003, 7:27pm UTC](https://boards.straightdope.com/t/best-way-to-transfer-us-to-uk-bank-account/168095/12 "2003-04-12T19:27:58Z")
Most banks charge a different amount for domestic versus foreign wite transfers. $15 is common for domestic, between $45 and $60 is the norm for foreign. I do not know any banks that charge a percentage of the amount wired.