Sending dollars to the UK follows the same logic as the reverse trip: your real cost is the exchange-rate margin plus fees, and the mid-market rate is just the benchmark to measure them against. The mechanics differ slightly because you are starting in the US banking system.
Step 1: benchmark the mid-market rate
Check the true USD/GBP rate on our USD to GBP page first. Remember that dollar-to-pound is the inverse of Cable: at a GBP/USD rate of 1.27, $1,000 is about £787 at mid-market. Any provider quoting meaningfully less than that is charging a wide spread.
Step 2: compare total cost
US banks often charge a fixed wire fee for international transfers and apply an exchange-rate spread, and the recipient’s UK bank may levy an incoming-payment fee too. Specialist transfer services typically beat banks on both the rate and the fees. As with the reverse direction:
- Specialist services/apps: usually cheapest, often within ~0.3–1% of mid-market.
- US banks via wire: convenient but can carry a flat wire fee plus a 2–4% spread.
- Cash / bureau: generally poor value for anything but small sums.
Step 3: scale the method to the amount
For small amounts, minimise fixed fees. For large amounts — property deposits, tuition, settling an estate — the rate spread dominates, so getting two or three quotes can save hundreds of pounds. On $50,000 a 2% difference in the rate is around £790.
Step 4: practicalities
Confirm the recipient’s UK account details (sort code and account number, or IBAN for some services), check delivery time, and watch for incoming-wire charges at the UK end. For large or recurring transfers, specialist firms offer rate alerts, limit orders and forward contracts to manage timing.
Common mistakes
- Defaulting to a US bank wire without comparing a specialist service.
- Overlooking the recipient-side incoming-payment fee.
- Being billed in dollars on a UK-side transaction (dynamic currency conversion).
- Comparing quotes taken minutes apart on a moving rate and reading the difference as a markup.
See also mid-market vs bank rates and the reverse journey, sending money UK → USA.