How to send money to the USA

Secure, affordable ways to send money from overseas.

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While your local bank branch might be the most obvious option for sending money across borders, you can save on fees and take advantage of more competitive exchange rates with an online money transfer company.

TorFX International Money Transfers

International Money Transfer Offer

Send money overseas in 30+ currencies with competitive rates for transfer amounts over £2,500. TorFX guarantees to match any competitor's exchange rate.

  • No transfer fees.
  • Dedicated account manager assigned to you.
  • Forex tools available.

    Compare services that send money to the USA from the UK

    Table: sorted by a combination of service offering and the amount your recipient will receive

    Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
    GBP 2,000 1 day GBP 0.00 1.328 USD
    13,279
    TorFX guarantee to beat any competitor's exchange rate for a transaction (conditions apply)
    (Conditions apply)
    Go to site Show details
    USD 1 1 - 2 days GBP 0.00 1.328 USD
    13,279
    Whatever amount you transfer, XE will not charge you a fee for using their service. Go to site Show details
    GBP 1,000 1 - 2 days GBP 0.00 1.328 USD
    13,279
    Better exchange rates for Finder customers.
    Send 60+ currencies at competitive rates and no fees. If you find a better eligible quote, WorldFirst will beat it.
    Go to site Show details
    GBP 2,500 1 day GBP 0.00 1.324 USD
    13,239
    Frontierpay has a proven reputation for competitive rates and a refreshingly open and honest approach to transferring money worldwide. Go to site Show details
    GBP 50 Same day GBP 2.99 1.32 USD
    13,195
    Use promo code 3FREE to send your first 3 transfers with no fee.
    Send money online anytime, anywhere, with a simple to use platform and transparent fees and exchange rates shown upfront.
    Go to site Show details
    GBP 2,500 1 day GBP 0.00 1.328 USD
    13,279
    With 17 years of foreign exchange expertise, OFX know the money transfers business very well, offering facilities for one-off and recurring transfers. Go to site Show details
    GBP 3,000 1 day GBP 0.00 1.328 USD
    13,279
    Get no fees as a Finder customer when you transfer your money overseas with Global Reach. Go to site Show details

    Compare up to 4 providers

    Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

    How do international money transfers work?

    An international money transfer is a service that exchanges one currency for another. You can begin the process either online, in person or over the phone. The provider will then take money from your bank account or use the cash you’ve given, exchange it and send it to your recipient’s bank account. If your recipient decides to pick up cash, be sure they have the tracking number to ensure the transfer goes smoothly on both ends.

    How to send money to the USA

    1. Choose a transfer provider who sends money to the USA.
    2. Register with the provider on their website providing your name, address, contact information and date of birth. A valid photo ID will also be required.
    3. Provide your recipient’s name, address and contact details. Depending on the transfer method, you may also have to supply their bank account information.
    4. Enter the amount you want to transfer, complete your transaction and save your tracking or receipt number to follow up on the progress of your transfer.

    Banks vs. money transfer companies

    We use our banks to take care of all our other financial needs. So surely we should use them when we need to send an international money transfer, right? Not necessarily. While major banks offer money transfer services, they usually present less competitive exchange rates coupled with high transfer fees.

    You can often save money by using the services of a dedicated money transfer company. These providers specialise in handling overseas money transfers, offering attractive exchange rates and affordable transfer fees. This translates to big savings for you.

    Case Study: Michael sends money to the USA

    The tech company that Michael works for in California is transferring him to their offices in London for a year to spearhead a new department there. He doesn’t want to uproot his family, so his wife and kids will be staying behind in the USA. Because he will be sending money home on a regular basis, he compares two money transfer providers to ensure that he gets the best deal. Michael figures he will be transferring £1,000 to his wife each month.

    Money transfer service 1Money transfer service 2
    Exchange rate1 GBP = 1.107 USD1 GBP = 1.189 USD
    Transfer fee£0£10
    Transfer time2 days2 days
    Transfer optionsOnline, phoneOnline, phone
    Amount received in USD for £1,0001,107 USD1,189 USD

    What’s the difference?

    Although the first service provider doesn’t charge a fee, the second provider’s superior exchange rate allows Michael’s wife to receive US$82 more.

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    How do I compare transfer companies when sending money to the USA?

    Michael’s case highlights the importance of looking at all features of a transfer company before making a final decision. When doing your own research, check the following with each company you’re interested in:

    • Competitive exchange rate. Small differences in the exchange rate can make a big difference when transferring large amounts of money. This is an area where you could potentially incur losses if you are not careful.
    • Little to no fees. Fees can vary greatly depending on the institution and the currencies involved.
    • A range of transfer methods. Can transfers be placed online, over the phone, by visiting a branch and/or by using a mobile app?
    • Turnaround time. Will the funds be available for your beneficiary in minutes, or will they take several working days to arrive?
    • Convenient pick-up methods. Can your beneficiary pick up the cash from their nearest transfer agent, or will the funds be deposited into their bank account?
    • Reliable customer service. What sort of customer support is offered and during what hours can you receive assistance?

    Foreign exchange rates explained

    Exchange rate is how much one country’s currency is worth compared to another. The pound is generally strong against most global currencies. For example, at the time of writing, for every pound you send, your recipient would receive around one US dollar and a quarter.

    Comparing exchange rates is the most important part of sending money, so be sure your money transfer company is offering you a good rate.

    Methods of sending money to the USA

    As one of the world’s most widely accepted currencies, you’ll find many ways to transfer your money to the USA:

    • Bank transfers. Most banks offer wire transfers to the USA
    • Money transfer providers. Online providers like TransferWise and WorldRemit can help you transfer money quickly and easily.
    • Transfer companies with cash pickup. Providers like Western Union and MoneyGram offer this service — your recipient can sometimes pick up the cast within minutes.
    • PayPal. You can send money abroad using your PayPal account.

    What documentation do I need?

    To send money using a money transfer provider, you should make note of the following:

        • The recipient’s full name. The beneficiary of a cash transfer will need to show photo identification. Be sure that the name you put on the order is the same as what shows on the ID.
        • Your full name. As an additional security measure, the agent may ask for the name of the sender, be sure that the recipient knows your complete name.
        • Your recipient’s contact information. Have the address and phone number of the person receiving the funds. They should also have this information for you.
        • Transaction number. There will be a transaction number given when you make the transfer. Your recipient will need to give this to the agent before the cash is released.

    How safe is a money transfer?

    When processed through a reputable provider, your funds are safely tracked until in the hands of your recipient. It’s industry standard for international money services to use 128-bit SSL encryption systems at a minimum. Many also are licensed with UK financial regulators.


    Tips for picking up cash in the USA

    Picking up cash can be dangerous if you’re in an area that is prone to crime, but even if you aren’t, it’s smart to be aware of your surroundings and keep your cash hidden. Take a friend and deposit your cash into your bank account as soon as possible, and always keep safety your top priority.

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    Global Reach
    Global Reach
    Send money overseas in a few simple steps Lock in your exchange rate for up to two years Best exchange rate guarantee Personalised quotes and professional customer service
    WorldRemit
    WorldRemit
    Use the code 3FREE to pay no fees on your first three money transfers Choose how you want to send your money - via bank transfer, cash pickup or mobile money Instant money transfers available
    Currencies Direct
    Currencies Direct
    Currencies Direct make moving money abroad simple, swift and secure. Great rates, no fees and expert support whether you transfer online, over the phone or by app. Available in more than 200 countries and 40 currencies
    TransferWise
    TransferWise
    Sign up and start sending money within minutes with this peer-to-peer transfer service Transfer money at the mid-market exchange rate No hidden fees Transfers from pounds typically only take one day
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    2 Responses

    1. Default Gravatar
      JohnAugust 24, 2019

      I have inherited 50,000 pounds sterling in the UK. How much will I receive in USA at today’s bank rate of 1 pound sterling = $ 1.22, using the least expensive service available?

      • Avatarfinder Customer Care
        JeniAugust 25, 2019Staff

        Hi John,

        Thank you for getting in touch with Finder.

        I’m afraid that we wouldn’t be able to provide the accurate even the estimate amount you might receive if it’s via bank transfer as banks have their own exchange rate as well as fees on processing money transfer. It is recommended to seek further info from the bank that will process the money transfer for you.

        I hope this helps.

        Thank you and have a wonderful day!

        Cheers,
        Jeni

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