How to Send Money Online to the United Kingdom in a Jiffy

How to Make a Money Transfer Online to the United Kingdom in a Jiffy

Can I transfer money online to the United Kingdom?

Yes from most countries across the globe. We can help you understand how to make a money transfer to the UK with confidence, ease and low cost. Exiap compared over 20 different financial institutions and consistently found money transfer services offered the best exchange rates when sending your British pounds to the UK.

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To find the best exchange rate for your foreign exchange click here.

How do I send money online to a bank account in the UK?

Using a money transfer service

Sign up online to transfer money to the US from UK

1

Sign up online They will accept one off transfers so you don’t need to make regular payments. Take photos of your id and send. It normally takes 5 - 10 minutes to type in your personal details, verify your identity and set your account with passwords and preferences in their online platform.
Provide details to transfer money to the US from UK

2

Provide international money transfer details Tell them how much money you want to send. You will need the IBAN number and SWIFT/BIC code of the bank account and the account number you are sending money to. Send the funds requested, normally through a bank transfer, but some accept credit cards and debit cards.
Make payment to transfer money to the US from UK

3

Delivery of money Money is delivered to the bank account in the UK and you are kept up to date regularly with the transfer via phone or email. They are very good at keeping you informed of where you money is at any point in time.

How do I send money online to a person for instant cash pick-up in the UK?

Using a remittance company

Sign up online to transfer money to the US from UK

1

Go to providers website and sign up, adding your personal details (full name, address, phone number and email address). It is free to sign up. Use a valid government-issued I.D.
Provide details to transfer money to the US from UK

2

Choose UK as the country, the amount of GBP you wish to send and choose cash pick-up as your transfer option. Pay via bank transfer, debit card or credit card (Visa, Mastercard and Mastro).
Make payment to transfer money to the US from UK

3

You will receive a confirmation by email. Record the MTCN (tracking number) and give to the person to collect their cash pickup within minutes and advise of agent location.

What are the costs to make a money transfer online?

What are the costs to make a money transfer online to the United Kingdom?

Before you make your money transfer back home to the UK, it's important to be aware how much your money transfer will cost you.

Exchange rates - The better the exchange rate, the more money you get in the account at home. Money transfer services that offer better rates will usually charge you a separate transfer fee. They offer foreign currency exchange rates that are close to the market rates offered on google.

Transfer fees - Money transfer companies charge low fees and these can range anywhere between GBP £0 to £5. Some online transfer companies offer fee-free transfers for sending large amounts of money.

Receiving fees - You or the person you're who's sending money home to the UK, will often get charged a bank receiving fee of up to £20.

Total costs are lower with money transfer companies than banks because:
1. they charge less transfer fees
2. give better foreign exchange rates and
3. they reduce the amount or don't charge receiving fees

Where can I receive fee free transfers to the United Kingdom?

Very few people like paying transfer fees when making an international money transfer to the United Kingdom. Luckily for you, many money transfer services offer fee free transfers. Here are 5 popular fee-free money transfer companies we recommend:

  1. OFX
  2. Currencies Direct
  3. World First
  4. Foremost Group
  5. TorFX
Where to receive fee free transfers to the United Kingdom

How long does it take to transfer money to the United Kingdom?

How long does it take to transfer money to the United Kingdom?

Money transfer services can take 0 - 3 business days

It takes 0 - 3 business days to convert your foreign currency into British pounds and deliver them to a local bank account.
Quite often the money transfer is delivered the next working day. When using a money transfer service like Wise (formerly known as TransferWise) they're even faster, quoting the arrival time in hours not days.
Unlike banks, money transfer services keep you updated on your delivery time. This includes the estimated arrival time of your funds to the account you're sending money to.

Is there anything else I should consider aside from the best exchange rate for my money transfer?

Aside from costs and speed, choosing the right product, frequency, customer service and customer reviews are also good to consider if you have time:

1. Right product or service for your situation

Are you making a personal or business transfer? You might need foreign exchange products so you can lock in the exchange rate. Business products include spot contracts, forward contracts and lock-in contracts to help you buy GBP at the best rate.

2. Frequency

How often will you need to make an online money transfer? Being able to make regular and quick payments to your home account in the UK or family, friends or employees also in the UK can be important. Some mobile apps are also better than others.

How to choose who to use when transferring money to the United Kingdom
3. Good customer support

Do you need to speak an account manager for assistance? Look for a money transfer service that works for you, whether you need 24/7 support via phone, email or online chat.

4. Reviews or Trustworthiness

Do reviews give you peace of mind when making an international transfer? If so, Trustpilot is a great source of 3rd party reviews. In addition, we have reviews to help you choose the best money transfer service to make your currency exchange to the United Kingdom.

Will my online money transfer be safe?

One of the main questions people ask us is “will my money be safe online?" The answer is yes.

Money transfer services are usually regulated by governing bodies that look into financial conduct. For the UK, it's the Financial Conduct Authority (FCA). Money transfer services generally have very stringent guidelines to be allowed to send money.

These money transfer services implement strict verification processes to ensure they fully identify all of their customers. They also invest in identity protection, fraud prevention and encryption to create a secure connection with your browser when you register and login into their online services.

How do I keep my money safe when I transfer money to the UK online?

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By Arlene Mc Donnell Updated April 9th, 2021