Filed under: nnxj.com — smith @ March 15, 2010 edit
What would be the comission taken if i wire 100,000 usd to a british account?When I wire from my US (USD) credit union account to my GB (GBP) bank account I'm charged a flat wire fee by the credit union of $15. At the British end there is no fee, though they will convert the USD to GBP which will cause you an effective loss (maybe 1% or so). However if you expect the dollar to drop against the pound in the near future then this will be recovered soon enough. your goal is to presumably benefit from the inevitable increase in value of sterling vs the us dollar. The answer is FX trading which is possible through multiple online companies. Alternatively, contact your stockbroker or IFA for advice. Don't wire the whole 100 Grand... you may end up on the IRS watch list. Wire amounts $10K or less and you fly under the radar.
Normal wire cost is around $35 per wire. You will pay a fee for the currency conversion but otherwise I never paid a "commission" fee
to wire money from the U.S. to another country.
If I had this amount of money I'd rather get advice from a bank instead of a lot of face-less aliases on a website.
Professionals should be able to reduce the charges you pay. Speak to a bank or financial advisor.gooooooood afternoon madam, my name is george and im calling from your building Society...............A 12 year sentence.There are usually charges payable in both countries, but the sender can opt to pay all charges, no charges, or share the charges. The charges which are payable in the UK are determined by the receiving bank's tariff and are generally lower than those taken by the sending bank.#If you have any other info about this subject , Please add it free.# |
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