Sending Usd$ To A Bank In The Uk

[mussen]

Hi, I need to transfer money to an HSBC account in the UK, but the amount I send them needs to be USD$. Last time I did it I used an online banking site (Australian based) and sent it succesfully but the recipient was charged a USD$25.00 handling fee. I'm wondering if anyone knows of a way to do the transfer and avoid the USD$25 fee?

I was told that the fee is charged when an intermediate bank s involved. Would it be any different if I went into a bank branch and did the transfer?

[thaiphoon]

From my own experience with HSBC in Bangkok .... if you send money abroad in a currency different to that of the receiving country, the sending bank will have to send the money to a "foreign" bank in the receiving country. This is required to effect settlement with the remitting bank. So, sending USD to the UK means the money will be sent to a US bank in the UK who will then need to forward the money on to wherever, and you will get billed a handling charge from the intermediary (US) bank.

[ericthai]

Not sure about the UK, but in the US almost all the banks charge a fee to receive a wire transfer, dont know why. Have sent money from Thailand, Hong Kong, Singapore, UK to my US account and always get charged a fee from my receiving account in the US. Guess you will just need to send a little extra to cover the fee.

[mussen]

Thanks for your reply, I had suspected such but wasn't sure. Looks like I'll have to wear the USD$25.00 fee, the banks must be making some good money on that fee, I'm sure that when businesses transfer large amounts of cash they don't even question the fee.

[Naam]

Thanks for your reply, I had suspected such but wasn't sure. Looks like I'll have to wear the USD$25.00 fee, the banks must be making some good money on that fee, I'm sure that when businesses transfer large amounts of cash they don't even question the fee.

the banks provide a service. for that service they are charging a fee. but the procedures to avoid that fee are various and rather simple. one of your options is: fly to the UK, take the money in cash with you and hand it over to the recipient.

[signed: Naam - striving to be the most hated poster on Thaivisa]

[PattayaParent]

the banks provide a service. for that service they are charging a fee. but the procedures to avoid that fee are various and rather simple. one of your options is: fly to the UK, take the money in cash with you and hand it over to the recipient.

[signed: Naam - striving to be the most hated poster on Thaivisa]

But that would cost more than the $25 fee he's trying to save.

Putting it in an envelope and posting it would be much cheaper.

[CMMCB]

the banks provide a service. for that service they are charging a fee. but the procedures to avoid that fee are various and rather simple. one of your options is: fly to the UK, take the money in cash with you and hand it over to the recipient.

[signed: Naam - striving to be the most hated poster on Thaivisa]

But that would cost more than the $25 fee he's trying to save.

Putting it in an envelope and posting it would be much cheaper.

Definitely. And can be done by buying a draft and posting it. Though I've only done sterling drafts to UK so far, I suppose it shouldn't be too difficult/expensive to send/process a dollar draft in the UK. Anyone done it?

CMMCB

[Naam]

the banks provide a service. for that service they are charging a fee. but the procedures to avoid that fee are various and rather simple. one of your options is: fly to the UK, take the money in cash with you and hand it over to the recipient.

[signed: Naam - striving to be the most hated poster on Thaivisa]

But that would cost more than the $25 fee he's trying to save. Putting it in an envelope and posting it would be much cheaper.

= not safe! the OP could save some money by taking a rowboat instead of a flight

[Naam]

the banks provide a service. for that service they are charging a fee. but the procedures to avoid that fee are various and rather simple. one of your options is: fly to the UK, take the money in cash with you and hand it over to the recipient.

[signed: Naam - striving to be the most hated poster on Thaivisa]

But that would cost more than the $25 fee he's trying to save. Putting it in an envelope and posting it would be much cheaper.

= not safe! the OP could save some money by taking a rowboat instead of a flight

or work as a stoker on steamship freighter