Looking for the best way to send money from the United Kingdom to family, friends or businesses in the United States (or even to your own overseas bank account)?
Don't head straight to your British bank – compare specialist money transfer services instead. They nearly always offer better USD exchange rates and lower fees, so for the same amount of pounds you send, your recipient will receive more US dollars.
Of the companies we've compared, Lloyds Bank International Transfers is among the cheapest, with competitive exchange rates and fees starting from Varies. Need a really fast transfer? PassTo can get money to your recipient in the United States within minutes.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
Please note: You should always refer to quotes you receive from transfer services themselves directly for exact amounts as they may vary from our estimates.
Bank transfers are typically the cheapest way to get your money to the United States. Lloyds Bank International Transfers and Revolut have some of the lowest bank transfer fees of the brands we've compared.When you're hunting down the cheapest ways to send money to the United States, it's more important to look at the overall cost of your transfer. This has a couple of elements:
Some providers may charge the mid-market rate but add fees on top. Others may have very low fees but apply a markup on the exchange rate. This means it is important to compare exactly how many US dollars your recipient will end up with.
Many online providers can offer transfers to the United States within minutes, although you're likely to pay a premium for the convenience.Here are some of the fastest average transfer speeds to the United States:
Actual transfer times from the United Kingdom to the United States can depend on several different factors including transfer amount, payment method and currency.
The safest way to get your money to the United States is to use a provider registered with the United Kingdom's industry regulator, the Financial Conduct Authority (FCA). All of the companies we've compared in our table are overseen by a local regulator and comply with the relevant laws and regulations in both the United Kingdom and the United States.
A great way to dive deeper is by reading our extended reviews of each transfer service and researching first-hand customer feedback on Trustpilot and similar platforms.
If you need to make a sizable money transfer to the United States, consider using a provider such as TorFX or Wise (TransferWise) to benefit from its expertise in handling larger transfer amounts.Using a large transfer specialist can have the following advantages:
To send money to the United States, you'll need the necessary documentation, your recipient's details and a way to pay.
Robert is working in the United Kingdom as a doctor and he stays in regular contact with his elderly parents back home in the United States. His parents need some funds to help pay off a mortgage, so Robert plans to send them £2,000 from the United Kingdom.
He decides to compare a bank and a money transfer specialist to see which one can save the most money on his transaction.
|Bank||Money transfer company|
|Exchange rate||1 GBP = 1.19 USD||1 GBP = 1.20 USD|
|Transfer method||Bank account deposit||Bank account deposit|
|Processing time||2 - 5 working days||Next day|
|Amount received||2,361.24 USD||2,401.51 USD|
The money transfer company enables Robert to send an extra $40.28, which is transferred straight to his parents' Wells Fargo account.
When choosing a money transfer provider to send money from the United Kingdom to the United States, it's important to consider the cost, how you want your recipient to receive the funds and the turnaround time. Here are other features to review:
Compared to a month ago, the pound is a little weaker against the US dollar. Currently £5,000 is equivalent to $6,041.50, whereas a month ago, £5,000 was equivalent to $6,043.50. That's a decrease of 0.03% over the past month.
Similarly, compared to a year ago, the pound is again weaker against the US dollar. A year ago, £5,000 was equivalent to $6,768.50. That's a decrease of 10.74% over 12 months.
What's more important, however, is where the strength of the pound against the US dollar goes from here – which is harder to call. Based on those two quick glances back, your pounds might not go as far as they would have, so shopping around for the best deal on your transfer is key.
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