Hey everyone,
Hoping there are some expats reading this - I’ve been living in the UK and my company is moving me back to the US soon. I’ve been getting paid in Pounds and have accumulated about 120k of savings here over the last 5 years. Recently, with the pound devaluing I’ve gotten absolutely crushed, so I definitely am looking to transfer everything to my BofA account in Dollars when I move. This is where the fun starts.
I checked with HSBC, and they are going to charge me around 2,800k to convert - 2.14%. This seems wildly expensive. I’d also need to visit a branch with a bunch of documentation, as the max transfer I can transfer online is 25k a day. I’ve also asked BofA if they can receive pounds, and it sounds like its potentially even more expensive and less transparent.
Has anyone done a big move like this recently who has ended up transferring a large amount of savings across borders, who has other ideas?
Submitted October 27, 2022 at 06:50AM by ShylySunny https://ift.tt/l9NTEGB
