Alternatives to Barclays Bank service that allows you to transfer money between the UK pound (GBP) and the US dollar (USD) faster and cheaper. Evaluate the latest exchange rates and get the best deal by comparing options to Barclays Bank for foreign currency transfers.
|GBP to USD
|USD to GBP
|Minimum Transfer + Fee
|$1.257 to €1.161
|£0.779 to £0.85
|$1.263 to $1.163
|£0.783 to £0.852
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About transaction fees: The transaction (or service) fee that banks and providers charge is made up of a fixed fee which varies, depending on where you are sending the money and which currencies apply to the transaction.
About money transfer providers: Unlike banks, money transfer companies offer the very best exchange rates and by keeping their margin rates low, they beat the banks by several percentage points.
About exchange rates: Money transfer exchange rates are calculated and updated weekdays, hourly 08:00 – 16:00. The exchange rates provided are indicative only and several factors may contribute to the final rate, including market conditions, transfer amount and the mode of transfer (online or via phone/email).
The required information to send money abroad with Barclays depends on the destination country, as banking protocols vary internationally. However, some details are commonly needed for popular transfer destinations from the UK:
For Barclays Bank euro transfers or other currency payments to the United States, you need:
– Transfer amount
– Recipient’s full name and address
– Recipient’s IBAN
– Recipient bank’s SWIFT/BIC code
Before initiating any international transfer, double-check the specific requirements for the destination country.
Receiving money from abroad to your Barclays Bank account:
To receive an international payment from the United States into your Barclays UK account, provide the sender with your IBAN and Barclays SWIFT/BIC code.
Purchasing a second home or real estate in the United States can be a lucrative investment opportunity for UK and international buyers alike. One of the key benefits of buying property in the US is the potential for appreciation in value over time, however, when it comes to buying property in the US, there are a few key things to keep in mind:
American real estate transactions for UK buyers and sellers
First, it’s important to work with a qualified real estate agent who has experience working with British or international buyers. They can help navigate the complexities of the US housing market and ensure a smooth transaction process.
GBP and USD money transfers – larger amounts
Also, it is important that you receive the best possible exchange rate deal when buying or selling a property in the United States. Sending money from your Barclays Bank account in UK pounds to the US dollar, then using a specialist money transfer provider, opposed to Barclays service will save you time and money.
The same applies if you’re selling and repatriating US dollar sale proceeds from the United States back to your Barclays Bank account in the UK.
How long a Barclays international bank transfer takes will depend on the destination, payment method, and meeting the daily cut-off time. If you submit a transfer after the cut-off, processing may be delayed until the next business day.
Barclays European and international transfer times are not the same:
Barclays has different transfer times for payments within the EU versus international payments outside the EU. Transfers within the EU can take 1 or 2 working days, while transfers outside Europe may take up to 4 or 5 working days, depending on the destination and receiving bank (if not Barclays Bank).
When sending money abroad, Barclays will convert your funds to a different currency if the receiving account uses a different currency than the sending account. However, this currency conversion process comes at a cost beyond just up-front fees.
Barclays applies a margin above the mid-market exchange rate when converting between currencies, which is known as an exchange rate markup.
Sending money to another currency – Barclays Bank transaction fees:
Barclays bank charges a fee for US dollar transactions when sending money internationally. These fees can vary depending on the type of transfer, the destination country, and the amount being sent. It is important for customers to be aware of these fees before making a transaction in order to avoid any surprises.
By understanding the fees associated with sending US dollars through Barclays bank, customers can make informed decisions and choose the most cost-effective method for their international money transfers.
Receiving money from another currency – Barclays Bank transaction fees:
When receiving an international payment with Barclays, there are two possible fees to consider – a charge for the inward payment itself and an additional fee if currency conversion is required.
Barclays charges various fees for international transfers depending on the payment type. These include upfront fees, exchange rate fees, and third party charges. When sending international payments, be aware of all fees that may apply, as they are not always obvious.
Still have questions?
Doing some research and evaluating options will ultimately save you time and money: Compare money transfer providers