Best way to get US stock to UK bank account

[RacingPete]

I have some vested RSUs in a US share scheme setup by the company, I want to transfer some of these to my bank account to pay off some debts, but want to make sure I do this in the most efficient way so don’t get stung on exchange rate.

The company that hold the shares (fidelity.com) gives me a choice of getting the cash in GBP or USD, so the GBP will be at the exchange rate they want to use (I am struggling to find that rate).

So thinking, can I transfer the money in USD to a uk bank account and then do the exchange in my own time when rates are good, or at least transfer to a bank account that has a good exchange rate?

Any help much appreciated

[nebpor]

Best way is to see if fidelity will open you a USD account in the states to put the sale proceeds in, then use one of the many forex sites to move it back to the UK at a decent rate

If it’s a tidy sum, speak to your bank who might be willing to bid for the work, offering a far better rate than the advertised ones

In my own experience, the rates offered by Fidelity etc aren’t that horrific, ie. they convert to GBP and stick it in your account - it’s a trade off for ease of use.

[Bradders901]

I use Revolut- transfer straight to that in USD and convert at real time Fx prices to GBP

[CharlesElliott]

Fidelity is not too bad (my firm uses them as well), but I transfer my USD to my USD Revolut account at no cost, and can then transfer to GBP (or EUR) at wholesale rates.

If the sums are large and you want to transfer in one go, you might need to pay a small commission (0.5%) or have a Revolut premium account.

[SteveR1979]

I do this every 6 months.
USD into my REVOLUT account, and then exchange in to ££.

Usually a much better rate than my bank and no commission.

[Redarress]

Yep Revolut here too

[RacingPete]

Thanks all. I bank with Monzo and they suggest transferwise, anyone used that?

[supersport]

I use TransferWise every quarter for the same thing. It’s painless and fast.

[i4got]

I got fed up with holding vested share in a foreign account (Canadian rather than US) just due to problems like that, so I transferred to them a UK broker. Took a lot of time and effort finding a broker who would take the transfer and ho new ho to do it. In the end Interactive Investor were pretty much the only ones who could/would do it.