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MineralMan

(151,495 posts)

4. Depends on which local bank you use.

Reply to bif (Original post)

Fri Dec 3, 2021, 01:49 PM

Dec 2021

If it's one of the major banks, the conversion will go quickly. If it's a small bank, S&L or Credit Union, they won't be used to such transactions and the money might not be available quickly.

If the auction house will do a wire transfer of the funds, I'd let them do the conversion. That will speed your access to funds.

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

I think you would check to see which option charges the least for the conversion rate. OAITW r.2.0 Dec 2021 #1

I think this is right. Cracklin Charlie Dec 2021 #2

This message was self-deleted by its author Cracklin Charlie Dec 2021 #3

Depends on which local bank you use. MineralMan Dec 2021 #4

I use Chase. bif Dec 2021 #5

Geez, ask the auction house and your bank what amount would be deposited in your account SharonClark Dec 2021 #6

Would the tax reporting be simpler if the bank in England converted it to USD before transfer? tanyev Dec 2021 #7