POUNDS to DOLLARS

MarkyMarkD

Yes I want to purchase something in USA later this year,(approx £75K) so was hoping to take advantage of the good rates at present circa US1.95 to £1.  
I've recently opened a US bank account to receive the money when I convert it, so I'm just trying to understand the best ways to convert the money and send it to USA.  The downside of converting at a good rate and holding it in USA is the interest rates.  0.3% in US compared with 5%+ in UK.

Have you considered opening a savings account with the offshore UK banks?

E.g. http://www.alil.co.im/us_dollar_savings_account.asp

2.2% interest on USD balances over $50,000. You can deposit in sterling. And then transfer the money electronically when you want to make your purchase.

Worth considering?