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Escaping exchange rate changes
simple_simon_5
Posts: 8 Forumite
in Credit cards
Hi. I find myself paying in dollars than my residence currency(GBP), does anybody know a service I can use to escape the exchange rate volatility. I would like to have an account that can hold USD so that I can fund it when the rates are good. Currently I'm using PayPal but it's current fees are murderous.
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If you're making regular payments to the USA, try HIFX www.hifx.co.uk. They allow you to fix the exchange rate for a year (or more), and they guarantee no fees at either end.
Alternatively, Citibank allow you to open US dollar accounts from here.
http://www.citibank.co.uk/personal/banking/international/eurocurrent.htm?merchant=google?source=3694&gclid=CJ3g2qTorpkCFYh_3godFQKQHwYou're spelling is effecting me so much. Im trying not to be phased by it but your all making me loose my mind on mass!! My head is loosing it's hair. I'm going to take myself off the electoral role like I should of done ages ago and move to the Caribean. I already brought my plane ticket, all be it a refundable 1.0 -
If I get the citi foreign current account, will this affect my current account which is with Abbey? Are you allowed to have more than 1 current account?0
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You definitely are - I have four current accounts!You're spelling is effecting me so much. Im trying not to be phased by it but your all making me loose my mind on mass!! My head is loosing it's hair. I'm going to take myself off the electoral role like I should of done ages ago and move to the Caribean. I already brought my plane ticket, all be it a refundable 1.0
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Wow that's good to know. But can you have more than 1 current account if you are not going to have frequent income or specific income in them. The reason why I ask is because I approached two banks(HSBC and LLyods) and they both said that they won't open me an account if i'm not going to putting atleast £500 pm and as a student that's not possible. Also the citi account quoted above requires a minimum income of £20,000 pa.0
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simple_simon wrote: »going to putting atleast £500 pm and as a student that's not possible. Also the citi account quoted above requires a minimum income of £20,000 pa.
Oh, I'm sorry to hear that. Some accounts do require a minimum pay-in. But those of us determined to "play the system" transfer monney from account 1 - account 2 - account 3 - account 4 and back to account 1 manually, and therefore benefitting from the best of each current account. As a student, you're right that might not be so easy. Sorry, other than the Citi account I don't know of any others.You're spelling is effecting me so much. Im trying not to be phased by it but your all making me loose my mind on mass!! My head is loosing it's hair. I'm going to take myself off the electoral role like I should of done ages ago and move to the Caribean. I already brought my plane ticket, all be it a refundable 1.0
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