{"id":9,"date":"2015-12-10T22:29:31","date_gmt":"2015-12-10T22:29:31","guid":{"rendered":"http:\/\/www.davesfloridavilla.com\/rent-our-4-bed-pool-and-spa-florida-villa\/?p=9"},"modified":"2018-01-22T22:26:35","modified_gmt":"2018-01-22T22:26:35","slug":"running-costs-fx-transfers","status":"publish","type":"post","link":"https:\/\/www.davesfloridavilla.com\/private-villa-blog\/running-costs-fx-transfers\/","title":{"rendered":"Running a villa: money transfers"},"content":{"rendered":"

Beware: retail banks charge a fortune<\/h2>\n

So, the first dilemma is how to get money efficiently from the UK to the USA without paying large and unreasonable charges from my local Natwest bank.\u00a0 This isn’t a big problem for a small amount, but for frequent and large amounts then it’s time to look elsewhere to keep your running costs low.<\/p>\n

A renter, buyer, or general eBay purchaser should never use their bank for FX transfers – they are a bordering on a scam.<\/p>\n

 <\/p><\/blockquote>\n

Small money transfers<\/h2>\n

After lots of searches and research I came up with a few solutions.\u00a0 The first is TransferWise, which charges a low percentage and uses the interbank spot rate.\u00a0 Up to \u00a3300 is only a \u00a31 fee, and higher amounts rise to less than 0.5% fee.\u00a0 Much better than a bank that charges a fee and also uses a spot rate thats up to 3% lower.<\/p>\n

I’ve transferred using Transferwise around 20 times now, and it’s fast and secure every time.\u00a0 Here’s my personal link so you can get a free transfer of up to \u00a3500: Transferwise<\/a>.<\/p>\n

Large money transfers<\/h2>\n

The second solution is to use somewhere like Frontierpay (The FX Firm), Moneycorp or UXForex.\u00a0 These usually charge no fee for large amounts, and offer a fairly good spot rate, but not as good as TransferWise.<\/p>\n

It turns out TransferWise<\/a> want around \u00a3600 to move large amounts of money from the UK to the USA via FX transfers – because it’s a percentage fee and not capped.\u00a0 Whilst they are good for values of up to \u00a33000 it soon falls apart after that.<\/p>\n

Hence my search for FX transfers continues, but not too far.\u00a0 I found Frontierpay (formally The FX Firm) offer the best rates at the moment, but it’s close to UK Forex and Moneycorp<\/a>.\u00a0 Hopefully I can get a good rate for the transfer of GBP to USD – silly really because the sellers are UK based so the money is wiring around the world purely for USA tax purposes!<\/p>\n","protected":false},"excerpt":{"rendered":"

Beware: retail banks charge a fortune So, the first dilemma is how to get money efficiently from the UK to the USA without paying large and unreasonable charges from my local Natwest bank.\u00a0 This isn’t a big problem for a … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[86],"tags":[20,256,19,16,18,17],"jetpack_publicize_connections":[],"yoast_head":"\nRunning a villa: money transfers - Florida villa - website for sale<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.davesfloridavilla.com\/private-villa-blog\/running-costs-fx-transfers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Running a villa: money transfers - 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