What is the most efficient and cost effective way to wire large sums of money internationally?

I need to wire a large sum of money to a bank account in the UK, and the only way I know how is through my bank. However, they charge a hefty service fee. In addition, they quoted me a MUCH higher exchange rate than the published rate. A mere few cents difference in the quoted exchange rate will end up costing me thousands of dollars. Is there a better and smarter way to do this?

What is the most efficient and cost effective way to wire large sums of money internationally?cheap loans

If it%26#039;s a matter of thousands of dollars, then buy a round trip airline ticket and take your funds in the form of cashier%26#039;s checks for amounts of less than $5000 each and fly to the UK so you can put the cash into your account personally.

Just don%26#039;t get caught taking that kind of money into the U.K. because they are going to ask you how much money you have on you and you need to be able to look them in the face and LIE.

I%26#039;ve carried as much as $50,000 into the U.K. to put into my account... but it does take some nerves.

Right now, the exchange rate is horrible... it takes about $2.03 to buy a one pound note. The trouble is, the exchange rate for U.S.D. into almost every EU currency is equally bad and an Euro is $1.37 each today.