$ to £'s - best way to do it?

[ivrytwr3]

Son is due back from a Uni study year in the US. He's done a bit of work and managed to save around $800 in his US bank account. What's the best way to convert to £'s?

I was thinking, he has a Revolut account, so maybe:

US bank account > Revolut > in Revolut convert to £ > transfer to UK bank account.

Trying to save as much as he can in conversion fees, is the above ok?

 

[bimbleuk]

Revolut is a good way to do this. I assume they build their fee into the exchange rate if it's zero so you can see the live rate below and compare.

https://www.revolut.com/currency-converter/

 

[Disco_P]

Yeah revolut will be good for it. Just don't do the conversion at the weekend as they chargw 1%

 

[Mad_Jay]

As said, Revolut is good for this.

I used Transferwise at the time when I was working in the states, they have rebranded as Wise now.

 

[DJMK4]

I will convert it for you

 

[danlightbulb]

Crypto as a transfer/conversion mechanism?

 

[mattyfez]

I just use wise, but if you already have a revolut account it's probably easier to just use that.

Rates are Usualy very competitive.

Services that don't charge you simply build thier costs into the rate you get, so bear that in mind when doing comparisons

 

[Efour]

Revolut seems easiest for such a small amount

 

[mattyfez]

Revolut seems easiest for such a small amount

Yeah for converting 800USD, it probably no more than the cost of a pint of beers difference between services... assuming they are competetive and not totally terrible.

 

[jpaul]

moreover probably want to wait and see if the Dollar recovers, when trump capitulates - currently it's a hold.
(used currencies direct on larger amounts)

 

[Sho]

Find someone who’s flying out to the US. Exchange money. No fees involved. Both parties win

 

[Mr Jack]

Wise. I use it all the time.

Yesterday I transferred $800, as it happens, into €700.21. Fee was $2.31 on the conversation, no fees on the bank transfer. Rates are decent. Should work the same for GBP as Euros.

 

[Tram]

Buy clothes like jeans which are very cheap in the US. Order $800 worth of clothes from Macy's, its like spending 3k in the UK.
Not worth the trouble converting it over, he is better off buying stuff that he will need.

 

[slinxy]

How does a student save cash... lol
the dollar is weak at the moment, so I would just keep the cash there and use it when he goes back on holiday,

 

[jpaul]

yes - buying value usa products is a good way to avoid poor exchange - trainers used to be cheaper in USA too, was never sure jeans came up the right size, & bottles of bourbon would probably attract customs.

 

[ivrytwr3]

We're going to use Revolut - it may be some time if he ever goes back to the States. He's going to need that $800 for his final year!

 

[Pawnless Endgame]

I will convert it for you

You forgot to say that you are a Nigerian prince

 

[Tram]

We're going to use Revolut - it may be some time if he ever goes back to the States. He's going to need that $800 for his final year!

Just give him the £s. And let him spend the money on items like clothing which is cheap in the US.

 

[Gray2233]

Does he have any intent of going back there in the next few years, surely he's made friends and might be inclined to do so?

Maintaining a back account over there with the balance might be better than faffing around. It's not like he's coming home with a small fortune, it's the equivalent of £600 right now and will be less after any conversion fees.