Hi Everyone,
I am looking for some advice here. Can someone one point me in the right direction. :) I want to open a US Dollar based account but I am currently based in the UK. Chris at NetEarthOne very kindly told me to contact HSBC but they also want me to open a sterling account with them. Which I am not really interested in doing at the moment. So if anyone knows of any banks that will let me have a US Dollar account, a debt card and web banking I would be very grateful.

Thanks

Chang

Does your current UK bank account (the one you are currently with) offer this?

I think that most banks offer it, it's just whether or not you need to open a £GBP account with them too.

Does your current UK bank account (the one you are currently with) offer this?

I think that most banks offer it, it's just whether or not you need to open a £GBP account with them too.

I am with Nationwide so no luck there :(

just open a sterling account, you dont have to use it, all you would get is a £5 charge per month or somthing. Lloyds TSB (my bank) do offer this but i do think you need to have a sterling account too

just open a sterling account, you dont have to use it, all you would get is a £5 charge per month or somthing. Lloyds TSB (my bank) do offer this but i do think you need to have a sterling account too


Thanks for the info wisededi, I am off to talk to HSBC on Friday. So lets see what they say thanks for your help.

do you need to open USD account in UK?

do you need to open USD account in UK?

Well I don't want to pay for ever dollar transaction I have coming to my account to be converted in to Sterling.

Thanks

Chang

Hi Everyone,
I am looking for some advice here. Can someone one point me in the right direction. :) I want to open a US Dollar based account but I am currently based in the UK. Chris at NetEarthOne very kindly told me to contact HSBC but they also want me to open a sterling account with them. Which I am not really interested in doing at the moment. So if anyone knows of any banks that will let me have a US Dollar account, a debt card and web banking I would be very grateful.

Thanks

Chang

Try Cater Allen Bank. You can hold a multi-currency account in Sterling, US Dollars, and/or Euros.

http://www.caterallen.co.uk

"Our current account with multi-currency options

"We recognise that you need a flexible and convenient current account that offers attractive interest rates, which is why we’ve developed our Private Bank Account with multiple currency options. You can hold this account in Sterling, US Dollar and/or euro. This is ideal if you travel abroad regularly or have a second home outside the UK. It gives you the freedom to transfer money between accounts without incurring any currency conversion charges.

"Additionally, you can continue to earn interest every month by using your VISA Deferred-Debit Card, which accompanies this account. Any card transactions you make (excluding cash withdrawals) are not applied to your account until the statement date, allowing you to earn interest on money that’s already been spent."

There is online banking too.

Well I don't want to pay for ever dollar transaction I have coming to my account to be converted in to Sterling.

Thanks

Chang

What we do, is keep our paypal in USD, and any liquid funds we need for paying suppliers ect we just do that from paypal to save us having to convert all our funds to and from USD. It is an ok way to work but as i discussed with by bank manager the company is not really building the credit it deserves doing it that way as most of our funds stay online.

Please do let me know what you end up doing :)

Well I don't want to pay for ever dollar transaction I have coming to my account to be converted in to Sterling.

Thanks

Chang

you can open USD account also outside UK

Hi Everyone,
I am looking for some advice here. Can someone one point me in the right direction. :) I want to open a US Dollar based account but I am currently based in the UK. Chris at NetEarthOne very kindly told me to contact HSBC but they also want me to open a sterling account with them. Which I am not really interested in doing at the moment. So if anyone knows of any banks that will let me have a US Dollar account, a debt card and web banking I would be very grateful.


There's a few options. Not sure how large your company is or if you care about banking fees or high rates etc.

Also not really sure what you are planning to do, but i would look at the Paypal route (if you are a smaller operation). This means you can also get ccard for $USD funds, and convert when necessary. (Except i find their forex rates high)

If you are a larger concern, and want a "legit" account, HSBC isn't a bad one. We are here in Canada and that is our major bank with $USD currency (however, it isn't a US account. So it depends on what you need).

To actually get a US account, i'd have to go down and open an account, and with my driver's license and stuff, it shouldn't be an issue.


Lawrence

I think offshore accounts would do, but be aware of scammers who ask for fees to open up an account. Normally u should go with reputated bank.

I think offshore accounts would do, but be aware of scammers who ask for fees to open up an account. Normally u should go with reputated bank.

That's why i asked about the reason for the US currency.

Frankly, HSBC is reputable only, what, the 6th largest bank in the world? THough i think they charge a lot of fees compared with many other bank, i do have a $us account with them for free.


Lawrence

You simply cannot go wrong with HBSC. Highly recommended.

You simply cannot go wrong with HBSC. Highly recommended.

Well, for world-wide, commercial transactions, i agree.

For personal accounts (depending on what you do exactly) there are likely cheaper banks with cheaper service fees.


Lawrence