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Hello, So I live in the UK currently I use PayPal to send my account ...
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    Default What is the best way to transfer from $ to £

    Hello,

    So I live in the UK currently I use PayPal to send my account balance to my bank account and convert this to pounds.

    I get paid about $2,100/month from America and I feel like I lose out a lot in PayPal.

    Is there a better way to transfer this money?

    I was thinking of maybe stocking a few months wages and trading it over somehow...

    Any suggestions?

    Thanks in advance,
    ~WF

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    Default Re: What is the best way to transfer from $ to £

    Either:

    - Get a multi-currency bank account and sit on USD. If you do a lot of business in the US it stops you having to convert USD -> GBP -> USD.

    - Get yourself a FX broker. As you're in the UK, I'd recommend these guys: www.halofinancial.com

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    Default Re: What is the best way to transfer from $ to £

    Thanks, yeah I guess I will sit on it for a bit then.

    Hmm I was even thinking of getting a forex account and trading myself but it seems strange using that amount of money for something I know nothing about just to get pounds :/ Don't know a single thing about it tbh...

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    Default Re: What is the best way to transfer from $ to £

    Quote Originally Posted by WhiteFlame View Post
    Thanks, yeah I guess I will sit on it for a bit then.

    Hmm I was even thinking of getting a forex account and trading myself but it seems strange using that amount of money for something I know nothing about just to get pounds :/ Don't know a single thing about it tbh...
    To be honest, you're not making enough money to worry. When you start shifting 5-6 figures a month, you should definitely look into it, as ~1% starts to make a difference.

    Also, don't bank with HSBC, they suck for FX.

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    Default

    You can hold a usd balance in paypal, that's why I do. If you want something with a better rate then you need an FX broker, but with the numbers your talking about it's probably not worth it...
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