International Money Transfer from the UK | Revolut (2024)

FAQs

International Money Transfer from the UK | Revolut? ›

You can carry out the transaction online using a debit card, credit card or bank transfer, and you'll need the US recipient's details too. On the high street: Services such as Moneygram and Western Union have their advantages – but they are not a cheap way to send money from the UK to the US.

You can carry out the transaction online using a debit card, credit card or bank transfer, and you'll need the US recipient's details too. On the high street: Services such as Moneygram and Western Union have their advantages – but they are not a cheap way to send money from the UK to the US.

There are no legal limits on how much money you send abroad from the UK using an international bank transfer. However, your transfer may be monitored by both HM Revenue & Customs (HMRC) and the Financial Conduct Authority (FCA) for compliance reasons, although this rarely occurs.

Sending money abroad to another PayPal account? Transfer money between PayPal accounts in seconds, no matter where you are in the world. The funds go quickly into the recipient's account and can be easily withdrawn at their convenience.

Financial institutions must file a Currency Transaction Report (CTR) for any transaction over $10,000. The CTR includes information about the person initiating the transaction, the recipient, and the nature of the transaction.

Financial institutions and money transfer providers are obligated to report international transfers that exceed $10,000. You can learn more about the Bank Secrecy Act from the Office of the Comptroller of the Currency. Generally, they won't report transactions valued below that threshold.

Both Western Union and PayPal are popular choices for sending large sums of money overseas.

What is the cheapest way to transfer money from UK bank to US bank? ›

Bank transfers are usually the cheapest option when it comes to funding your international money transfer with Wise. Bank transfers can be slower than debit or credit cards, but they usually give you the best value for your money.

Your payment should get to the recipient's bank in 1-3 days – the time it takes will vary from country to country. We aren't in control of how long it takes the recipient's bank to process the transfer, however.

Receiving Bank Fees: The recipient's bank may charge fees for receiving an international wire transfer. These will either be deducted from the transfer amount or charged separately. Currency Conversion: Additional fees may be associated with the exchange rate if the transfer requires a currency conversion.

At OFX, you receive fee-free transfers* for sending USD internationally. We use our global network of 115 local bank accounts to make our transfers within the same country, so you won't be hit by any international transaction fees.

This is because, sadly, Zelle is only available in the US and doesn't work in the UK. If you want to transfer your money to the UK, you'll need to pick a money transfer provider for transfers to the UK, such as Wise. In this short guide, we look at why Zelle doesn't work in the UK in the first place.

Cash App can be used to send and receive money with anyone in the UK through their phone number or £Cashtag!

Does Cash App Work Internationally? Cash App only works for payments from the US to the UK and vice-versa. Other destination countries and currencies are not supported by Cash App. Both sender and recipient need to have their own Cash App account to make cross-border payments.

No, Venmo is not available in the UK. If you live in the UK and are sending money to someone in the UK: Square's Cash App is a good alternative to Venmo in the UK. But dozens of other innovative mobile peer-to-peer transfer options exist, like Revolut, N26, Monese, Monzo etc.