paying in Great British Pounds now / converting given currency fluxuation

[Anonymous]

Anonymous wrote:Is it hard for Americans to open bank accounts in Britain as a non-citizen, non-resident?

Yes, very hard. In fact it’s hard to open an account even if you are a resident. I doubt you’ll be able to do this at all. Any fraud rules are very strong in the UK and the banks have to report everything.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Is it hard for Americans to open bank accounts in Britain as a non-citizen, non-resident?

Not sure about Britain, but it's virtually impossibly in Germany. They're flagged as "international" accounts and have all kinds of fees and oher onerous issues associated.

Same in the UK.

[Anonymous]

Britain = name for a group of islands in the Atlantic, also referred to as the British Isles
Great Britain = the big island that encompasses England, Wales, and Scotland
United Kingdom = political entity that includes England, Wales, Scotland, and Northern Ireland
England = a country on the island of Great Britain, but not a sovereign state (neither are Wales, Scotland, or Northern Ireland)
Ireland = a country on the island of Ireland within the British Isles, it is also a sovereign state except for the northern counties that are part of the UK (not a country)

[Anonymous]

Is this a question from 1999?

Here is the answer. You open a Revolut Account on-line. It allows you in the US to send money back and forth to different counties basically for free and keep your money on multiple currencies in the App.

It has zero FX fee. Pays 4.2 percent interest, no fees go open.

It has almost 30 million customers and has a market value of line 35 billion.

Literally in Europe Revolut is a Verb.

And just for fun ATM transactions are free anywhere in the world.

I used it all the time and just last week did GBP.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Is it hard for Americans to open bank accounts in Britain as a non-citizen, non-resident?

Yes, very hard. In fact it’s hard to open an account even if you are a resident. I doubt you’ll be able to do this at all. Any fraud rules are very strong in the UK and the banks have to report everything.

Have you not heard of borderless banking? Just open Revolut Account. In Europe most landlords or restaurants will actually say just Revolut me. Literally. For instance I was in Ireland last summer and the majority of population is on Revolut.

I was just in the UK last week and no one has heard of it. I am also British which means European and don’t know what you are talking about. It’s certainly not a verb in the UK.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Is it hard for Americans to open bank accounts in Britain as a non-citizen, non-resident?

Yes, very hard. In fact it’s hard to open an account even if you are a resident. I doubt you’ll be able to do this at all. Any fraud rules are very strong in the UK and the banks have to report everything.

Have you not heard of borderless banking? Just open Revolut Account. In Europe most landlords or restaurants will actually say just Revolut me. Literally. For instance I was in Ireland last summer and the majority of population is on Revolut.

I was just in the UK last week and no one has heard of it. I am also British which means European and don’t know what you are talking about. It’s certainly not a verb in the UK.

I just looked this up Revolut is not a bank it’s an e-money company offering digital banking services. This means you don’t have the protection of a bank.

[Anonymous]

Anonymous wrote:Is this a question from 1999?

Here is the answer. You open a Revolut Account on-line. It allows you in the US to send money back and forth to different counties basically for free and keep your money on multiple currencies in the App.

It has zero FX fee. Pays 4.2 percent interest, no fees go open.

It has almost 30 million customers and has a market value of line 35 billion.

Literally in Europe Revolut is a Verb.

And just for fun ATM transactions are free anywhere in the world.

I used it all the time and just last week did GBP.

Why are you pushing this? It doesn't have a market value - - it's not publicly traded. You're basing that on its last $800 million funding round. It's net income is only about $30 million. And it's licensed in Eastern Europe, where all the sketchy banks are. Either you're a shill for this start up or you've gotten too wrapped up in marketing.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Is it hard for Americans to open bank accounts in Britain as a non-citizen, non-resident?

Yes, very hard. In fact it’s hard to open an account even if you are a resident. I doubt you’ll be able to do this at all. Any fraud rules are very strong in the UK and the banks have to report everything.

Have you not heard of borderless banking? Just open Revolut Account. In Europe most landlords or restaurants will actually say just Revolut me. Literally. For instance I was in Ireland last summer and the majority of population is on Revolut.

I was just in the UK last week and no one has heard of it. I am also British which means European and don’t know what you are talking about. It’s certainly not a verb in the UK.

I just looked this up Revolut is not a bank it’s an e-money company offering digital banking services. This means you don’t have the protection of a bank.

Not true at all. MCB bank holds the funds. You have FDIC insurance. Revolut is just the mechanism to move funds the actual funds sits at an FDIC insured bank.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Is it hard for Americans to open bank accounts in Britain as a non-citizen, non-resident?

Yes, very hard. In fact it’s hard to open an account even if you are a resident. I doubt you’ll be able to do this at all. Any fraud rules are very strong in the UK and the banks have to report everything.

Have you not heard of borderless banking? Just open Revolut Account. In Europe most landlords or restaurants will actually say just Revolut me. Literally. For instance I was in Ireland last summer and the majority of population is on Revolut.

I was just in the UK last week and no one has heard of it. I am also British which means European and don’t know what you are talking about. It’s certainly not a verb in the UK.

I just looked this up Revolut is not a bank it’s an e-money company offering digital banking services. This means you don’t have the protection of a bank.

Not true at all. MCB bank holds the funds. You have FDIC insurance. Revolut is just the mechanism to move funds the actual funds sits at an FDIC insured bank.

Not only it true but your response confirms it. Revolut is NOT a bank.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Is this a question from 1999?

Here is the answer. You open a Revolut Account on-line. It allows you in the US to send money back and forth to different counties basically for free and keep your money on multiple currencies in the App.

It has zero FX fee. Pays 4.2 percent interest, no fees go open.

It has almost 30 million customers and has a market value of line 35 billion.

Literally in Europe Revolut is a Verb.

And just for fun ATM transactions are free anywhere in the world.

I used it all the time and just last week did GBP.

Why are you pushing this? It doesn't have a market value - - it's not publicly traded. You're basing that on its last $800 million funding round. It's net income is only about $30 million. And it's licensed in Eastern Europe, where all the sketchy banks are. Either you're a shill for this start up or you've gotten too wrapped up in marketing.

I am a loyal customer almost around 30 million other customers. It does not need a back license in US as it uses FDIC banks. Right now mainly MCB but they also use JPM.

Anyhow money flows through them. For example I “topped” up my Revolut AC from JPM in USD last week did a free conversion to GBP then sent it to UK for free. I only keep like $200 bucks at Revolut I tip up as needed

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Is it hard for Americans to open bank accounts in Britain as a non-citizen, non-resident?

Yes, very hard. In fact it’s hard to open an account even if you are a resident. I doubt you’ll be able to do this at all. Any fraud rules are very strong in the UK and the banks have to report everything.

Have you not heard of borderless banking? Just open Revolut Account. In Europe most landlords or restaurants will actually say just Revolut me. Literally. For instance I was in Ireland last summer and the majority of population is on Revolut.

I was just in the UK last week and no one has heard of it. I am also British which means European and don’t know what you are talking about. It’s certainly not a verb in the UK.

I just looked this up Revolut is not a bank it’s an e-money company offering digital banking services. This means you don’t have the protection of a bank.

Not true at all. MCB bank holds the funds. You have FDIC insurance. Revolut is just the mechanism to move funds the actual funds sits at an FDIC insured bank.

Not only it true but your response confirms it. Revolut is NOT a bank.

Your money is at a bank. If you were concerned for safety use SWIFT to send money to Europe . Ok Grandpa just send a fax to your credit union and pay a wire fee

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Is it hard for Americans to open bank accounts in Britain as a non-citizen, non-resident?

Yes, very hard. In fact it’s hard to open an account even if you are a resident. I doubt you’ll be able to do this at all. Any fraud rules are very strong in the UK and the banks have to report everything.

Have you not heard of borderless banking? Just open Revolut Account. In Europe most landlords or restaurants will actually say just Revolut me. Literally. For instance I was in Ireland last summer and the majority of population is on Revolut.

I was just in the UK last week and no one has heard of it. I am also British which means European and don’t know what you are talking about. It’s certainly not a verb in the UK.

I just looked this up Revolut is not a bank it’s an e-money company offering digital banking services. This means you don’t have the protection of a bank.

Not true at all. MCB bank holds the funds. You have FDIC insurance. Revolut is just the mechanism to move funds the actual funds sits at an FDIC insured bank.

Not only it true but your response confirms it. Revolut is NOT a bank.

Your money is at a bank. If you were concerned for safety use SWIFT to send money to Europe . Ok Grandpa just send a fax to your credit union and pay a wire fee

Thank you for making it painfully clear that you're a dumbass wanna be tech bro with the maturity of a 16 year old. For the adults in the room, I'd be concerned about a fintech ending up in FT because of questionable accounting. Forget to mention that, didn't you?

[Anonymous]

If you dont like Revolut, use Wise.com. I use it for a bunch of foreign paymnets. I don't keep any balance with them -- I just transfer funds to them when I need to make a payment.

[Anonymous]

Maybe you could check whether you could open an account here with a UK headquartered international bank like HSBC, which operates in the US, and whether they offer the option of a foreign currency account in pounds.

Also, don’t forget the inflation rate in the UK is currently 10%. Probably not a problem if you are only changing the amount of the tuition fees and you know they won’t increase. But you wouldn’t want to change a whole lot more as it will quickly start depreciating - 1000 pounds now will be worth closer to 700 pounds in 3 years if inflation stays high.

[Anonymous]

Anonymous wrote:If you dont like Revolut, use Wise.com. I use it for a bunch of foreign paymnets. I don't keep any balance with them -- I just transfer funds to them when I need to make a payment.

But that won’t help OP as the question is about changing a large amount into pounds, not about the mechanism for sending the money.