Olivia Smith Finance Reviewer October 5, 2023 6 min read Picking the right service for USD to GBP conversions can save you money and hassle. In 2023, here鈥檚 how the top platforms stack up: 1. **Wise** Pros: Mid-market rates, low fees (0.4-0.6%), transparent pricing. Cons: Slower for very large transfers. Best for: Everyday users sending $100-$10,000. 2. **Revolut** Pros: No fees on weekdays, fast transfers, multi-currency accounts. Cons: Weekend rate markups (1%). Best for: Frequent travelers. 3. **OFX** Pros: No fees on transfers over $1,000, excellent customer support. Cons: Slightly wider spreads than Wise. Best for: Large transfers ($10,000+). 4. **XE** Pros: No fees over $500, trusted brand. Cons: Rates not as tight as competitors. Best for: Simple, no-fuss exchanges. 5. **PayPal** Pros: Instant transfers, widely accepted. Cons: High 3-4% markup on rates. Best for: Convenience over cost. For a $2,000 transfer in October 2023, Wise might cost $10 in fees with a near-mid-market rate, while PayPal could add $60-$80 in hidden costs. Banks, by comparison, often charge $30 plus a 3% markup. Test with small amounts and prioritize low spreads for big sums.
