Receiving US dollars into a UK bank account

What's the best way of doing this m6s?

 

Sorry, I would like to be more helpful.

What is your situation? Are you trying to deposit a check drawn out in USD, or expecting an electronic transfer from a US account? If the latter, is it just a matter of the sender choosing whether to transmit in GBP (pre-converted) or transmitting in USD and let your bank convert?

Thanks PP (and a heh) - selling some US shares and could receive proceeds either by electronic transfer or cheque in sterling or USD.

Dusty/Archibald - have you used them?

Just get them to remit it to your account in USD and they will automatically convert it to GBP.  Although in the current climate, hanging on to the USD may be a better idea.

It does seem like you may want to receive it in the form of a check (or "cheque") drawn in USD so you can sit on it and only cash/deposit it when the exchange rate is even more favorable. Depending on whether your bank charges material processing fees for checks and how you are betting the FX rate to move ...

CL - I use TW regularly to send forrin cash from a forrin account (in my name) to my UK account and vice versa, no problem.

They give a load of BS of how much cheaper it is than banks, it is cheaper (higher nett deposit) but not by as much as they suggest.

If I do a transfer today it will be in my other account by COB tomorrow.