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Personal Finance and Investing

bif

(26,026 posts) Fri Dec 3, 2021, 12:30 PM Dec 2021

Question about converting funds from England [View all]

I recently sold a painting for a substantial sum of money. The auction house wants to know if I want them to convert it to USD before transferring the money into our bank account or transfer it in Pounds and have our bank convert it. Is there an advantage one over the other?

4 replies

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Question about converting funds from England [View all] bif Dec 2021 OP

Banks usually exchange at a better rate and with lower fees than a third party DetroitLegalBeagle Dec 2021 #1

Chase, our local bank won't charge a fee. bif Dec 2021 #2

There is a huge advantage if you take matters into your own hands DFW Dec 2021 #3

One more thing: DFW Dec 2021 #4

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