MoDosh wrote: ↑Wed Feb 06, 2019 5:56 pm
I wish to transfer money from a European bank account to a US bank account. I have read some posts on the various services. Plugged some numbers into transferwise and OfX.com and it seemed like ofx was better by hundreds of dollars. It is quite a substantial amount.
Interesting. I had never heard of ofx, so I will be looking into them in future and when I need to convert more USD to GBP. I am currently with TransferWise, and getting Vanguard to work with them has been -- in fact, remains -- a
huge nuisance, to put it mildly. Anyway, TransferWise works well for me, but if ofx gives you a substantially better rate then it might be silly not to take it.
MoDosh wrote: ↑Wed Feb 06, 2019 5:56 pm
Second question relates to the temporary storage of the money. If one is still deciding what to do investment wise and I'm happy to say I am reading the Bogleheads guide to investing, I am thinking a money market account for the next couple of months?
That's the usual recommendation. You might also be able to consider very short-term CDs, perhaps three months. Not flexible though, whereas with money market you can take your cash when ready. Interest rates will likely be poor in both cases.