XE Money Transfers
- Send money to 130+ countries
- Competitive exchange rates that are often better than banks
- XE doesn’t charge any transaction fees, commissions or ongoing fees
When you need to transfer money to the UK from overseas, there are plenty of potential pitfalls and problems that can turn even the simplest of transactions into an expensive hassle. From poor exchange rates and high fees to tax implications, there are plenty of issues to consider when repatriating funds.
The good news, however, is that sending an international money transfer is simple and convenient using modern technology. It’s also less damaging to your bank balance than ever before, thanks to the emergence of a wealth of new international transfer options.
If you compare your options and shop around for the best transfer provider, you can send speedy and cost-effective international money transfers to the UK.
The repatriation of funds is when you move money from abroad back to the UK. There are plenty of situations where you might need to perform this type of transaction, including if you’re working overseas and sending money home to your UK-based family or if you receive a pension overseas that you want to transfer into your UK bank account.
Wherever you’re sending the money from, you should be able to find a major bank in most countries that will be able to handle the transaction for you. However, the problem is that banks don’t offer great value for money when you send funds overseas, with their poor exchange rates and high fees conspiring to take a big bite out of your bank balance.
The poor deal offered by banks has led to the rise in recent years of specialist online money transfer providers. These companies trade large volumes of foreign currency and, as such, can offer superior exchange rates to the banks. Their fees are also lower and they offer fast and secure online transfers, allowing you to send funds to bank accounts around the world. Companies like MoneyCorp and Currency Fair offer this service and you can compare a range of reputable online transfer providers at finder.com.
If you want to send your funds back to the UK in cash form, perhaps to help out a family member in urgent need of financial support, you may wish to use a company that offers cash pickup transfers. Providers such as Western Union and MoneyGram offer extensive worldwide transfer networks so that your beneficiary can pick up the cash you send from the other side of the world within minutes.
There are other issues to be aware of when sending money to the UK, including possible restrictions that may apply to the amount of money you can transfer. You’ll also need to remember to report all of your income when filing your tax return.Back to top
Some of the most common reasons that people need to repatriate funds to the UK include:
Ask yourself the following questions when weighing up the merits of competing transfer companies:
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