MTGox to UK bank

[RaTTuS]

What is the best way of getting MTGox Dollars to a UK bank account ?

[Stephen Gornick]

What is the best way of getting MTGox Dollars to a UK bank account ?

From Mt. Gox's Withdrawal Center you can do an International wire transfer of your USDs (or GBPs).  Mt. Gox charges a fee as will likely your bank, so this method is not inexpensive -- especially when the amount being withdrawn is small.

Some people make use of the ability to withdraw to OKPay.  OKPay funds can be spent using an OKPay debit card.

From there the list of options shrink.

You might be able to find someone willing to trade with you where you provide a Mt. Gox redeemable code (either GBP or USD, whichever you have) and in exchange you get the funds through a bank transfer.  You'ld only want to do this with a trusted counterparty.  The #bitcoin-otc marketplace's Web of Trust (WoT) will help as it has a trust history.
 - http://www.Bitcoin-OTC.com
 - http://webchat.freenode.net/?channels=#bitcoin-otc-foyer
 - http://webchat.freenode.net/?channels=#bitcoin-otc-uk  <-- Specific to UK

Instead of selling coins at Mt. Gox you might want to consider a different exchange.  BitBargain is one method:
 - https://bitbargain.co.uk/

And, of course, you have many local cash out methods:
 - https://localbitcoins.com/postal_code/uk/london/

And individuals who will buy your coins:
 - http://bitcointalk.org/index.php?action=profile;u=65105
and
 - http://bitcointalk.org/index.php?topic=130949.0

[TheButterZone]

move topic > https://bitcointalk.org/index.php?board=85.0

[Projects]

I could do this for a 5% fee - might be worth while if you have a smaller amount and the 5% I charge is less than all the fees mtgox/bank charges or if you wish to cash out quicker (I can get you the cash in your bank within 2 hours - usually instantly)

https://bitcointalk.org/index.php?topic=149713.0

[AlexNeto]

Can do for less then 3%.

https://bitcointalk.org/index.php?topic=138876.msg1479595#msg1479595

[RaTTuS]

Ok - thanks guys was just making enquiries mainly - I'll have a poke at a couple offers and see what is what...

[michaelGedi]

yes, I would like to know what happens when you sell in USD, but you want GBP in your account in UK.


Who does the exchange where and at what rate?

What are the options for this? Can MtGox exchange for you, then you send it to UK, or will I receive USD into my UK account and then change myself from there (preferable as I know some good methods of exchange)??

[Stephen Gornick]

or will I receive USD into my UK account and then change myself from there (preferable as I know some good methods of exchange)??

Yes, you would withdraw USD as an International bank transfer and your bank would do the conversion to GBP (less conversion fees).

[michaelGedi]

or will I receive USD into my UK account and then change myself from there (preferable as I know some good methods of exchange)??

Yes, you would withdraw USD as an International bank transfer and your bank would do the conversion to GBP (less conversion fees).

thanks, do you know if there is a possibility I can ask my bank to give me USD and I change myself? OR - dare I say it, should I just ask my bank about this

[Stephen Gornick]

thanks, do you know if there is a possibility I can ask my bank to give me USD and I change myself? OR - dare I say it, should I just ask my bank about this

Some UK banks allow foreign currency (e.g., USD) accounts as well as domestic currency (GBP) accounts, though that isn't common as far as I know.

Citibank UK offers it:
 - http://www.citibank.co.uk/personal/banking/international/currency.htm

HSBC too:
 - http://www.hsbc.co.uk/1/2/current-accounts/international-bank-account

[michaelGedi]

thanks, do you know if there is a possibility I can ask my bank to give me USD and I change myself? OR - dare I say it, should I just ask my bank about this

Some UK banks allow foreign currency (e.g., USD) accounts as well as domestic currency (GBP) accounts, though that isn't common as far as I know.

Citibank UK offers it:
 - http://www.citibank.co.uk/personal/banking/international/currency.htm

HSBC too:
 - http://www.hsbc.co.uk/1/2/current-accounts/international-bank-account

ok thanks

[nitrous]

What I've done today is send my BTC to fastcash4bitcoins.com, and I was able to get the money in under 3 hours with a ~2% fee. They say no international customers, but you can withdraw to a paypal UK account just fine Then you just need to withdraw from paypal to your bank account. This could be easier if you don't want to deal with MtGox's AML protection. Of course, your funds must still be in BTC, but their exchange rate is usually fairly competitive.