Best Way To Transfer A Dollar Payment To Pound Sterling

[winstonmin]

I am soon to be receiving a payment from the USA in US dollars. What is the cheapest method of transferring the payment into pounds sterling?

[EDDIE51]

If it is a cheque just pay it into your bank. You will be charged a fee to convert it to £ and another fee to cover the bank's cost. Easiest and cheapest way is to get the money sent via PayPal, instant free transfer and conversion to £ direct into your bank account. You only need an email address to open a paypal account .

[winstonmin]

Thank you very much for the answer.

[ducksie]

If the person making the payment doesn't have a bank a/c - paypal a/c they can pay into western union and you collect at your local WU outlet - that's how I used to send cash to my brother before he got his bank sorted out in USA

[EDDIE51]

Western Union is not secure and the fee is more than Paypal.

[ducksie]

I know you are right EDDIE and I'd go the route you say, but if one side of the transaction has no bank a/c WU is usually the only quickest way, I was putting it out there as an option

[EDDIE51]

paypal is so easy and safe I can see it replacing other methods. Just had £80 for a purchase transfered from Australia was in my UK bank in a second.

[winstonmin]

Thanks everyone. The payee has a bank account, so Paypal seems the best option.

[nannakath]

Halifax doesn`t charge for my US cheques which are not very big.