Whether you'd like to transfer money to America for a family member, or want help transferring money to USA to buy a house, you need to be sure you're getting the best deal.
We show you how to compare the cost of a money transfer to USA with different international money transfer services so you can find the best option and make the cheapest international money transfer to USA you can.
What do companies charge for transferring money to USA?
Money transfer services calculate their charges based on standard fees that are generally dependant on the size and destination of your transfer, and the latest exchange rates.
Fees quoted should include all commission, sending and receiving costs, so there are no hidden extras.
Although, exchange rates are difficult to predict and are often unavailable even to the service provider until it puts your transfer through.
The total price you pay for a money transfer to US simply combines these charges and adds them to the transfer quote. This means it is relatively simple to compare money transfers to the USA based on their total package price.
How to find the cheapest international money transfer to USA
You can quickly narrow your search for money transfers providers by the destinations offered and their timeframe; some providers don't offer a next day service and all their transfers take the industry standard 3-7 working days.
One day fast track services aren't usually included in a quote unless you ask for it, so if you want the faster service you should always compare the extra fees alongside its package price.
Then, you can concentrate on making sure you get the best exchange rates possible. It's worth bearing in mind that the best rates are usually reserved for larger money transfers, e.g. transfers of £5,000 or more.
However, overseas money transfer providers do set different minimum transfer levels that you need to meet to qualify for their discounted rates when you send money to America. By comparing the 'favourable rate' limits set by services that transfer money to USA from UK you'll easily be able to see which companies consider you as eligible for their best rates.
Finally, you should check how different providers manage your transaction. Some will complete your transfer online, others by phone, and some via an agent.
When you're deciding which money transfer service will give you the best deal when you send money to the States, consider how your transfer will be accessed at its destination.
If you find the services that fulfil your practical transfer requirements you can then use our money transfer to USA comparison table to find the best UK to USA money transfer for your needs, and the cheapest service for your wallet.