What is the cheapest way to send/receive USD transactions in the UK?

[maxima]

I transfer USD forth and back quite a few times a year. A regular high street bank charges around 2.5% on top of the conversion rate plus some fees...

I wonder if there is a cheaper solution?

It also has to comply with money laundering regulations (i.e. if I send USD to my broker account opened on my name then I have to receive money back to the personal current account with same name).

How much European banks charge? I understand UK citizens can open account in any EU country. Is that right?

 

[maxima]

BTW. This has been resolved... If anyone need an info - just PM.. There are much cheaper opportunities and without pain in the neck.

 

[nttrader]

Try PxFex... they give you online quote and very little commissions

 

[Pento]

You found a cheap way to do this? Please do tell.