Money transfer service – selling home and moving

Money transfer service – selling home and moving

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I sold my house in the US and transferred all proceeds to Australia before I moved. I used my trading account with IBKR US to convert and wire over to my Australian bank account. The process was fast, rate is reasonable and the exchange rate was better than the bank’s rates. You can open an account with IBKR UK and do what I did. The other option is WISE which actually offer better exchange rates despite of their fee is slightly higher than others. It is also very fast and convenient to transfer money. If you intend to use WISE, please consult with their customer service in how your house proceeds can be deposited or transferred from your local bank account to your WISE account. Please note WISE is not a financial institution like a bank so they have to partner with a bank in order to help clients to transfer money into their account. WISE will provide you the routing and account number with that bank so you can provide to your own bank to wire the money over. Please be warned that I have trouble transferring a small sum of money from my US account with Chase Bank to WISE. Chase simply rejected my transfer request and claimed that the receiving bank did not respond to their request for further verification. I am not sure if you will have the same troubles that I have at your end. Maybe you can simply deposit a cashier cheque in person with WISE if you are close to their office.

 

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