UK dollar account with low minimum deposit?

delude

slopemaster wrote: »

I think citibank put less load on exchange from one currency to another.
i forget the figures so you'd have to check.
Very easy to wait for rates to move in your favour, then tranfer money from one account to another.
I use it to get money from sterling into euros mostly, works well.
(As otherwise my French bank charge a fortune to RECEIVE funds even if they're in euros)

Thanks. Can I ask what you mean by 'less load'?

fawinds

delude wrote: »

Thanks. Can I ask what you mean by 'less load'?

He means smaller % fee for the exchange.

For example, right now I was looking into exchanging 200 quid into US$. I have a FairFX US$ prepaid card which gives me $303 for that money. Citibank will give me 301.49. That is a 1.5% load at FairFX and 2% load at Citibank.

UK banks usually charge between 2.75 and 2.99% load.

In your case I do not expect this to be a problem as you say you will pay US$ cheques into your account. If you get the account opened, do not forget to order your US$ chequebook, even though you will not be using it, they send the "Postal Payment Book" with the payment slips you need for every cheque you send by post.

delude

Okay, thanks for that! I'm going to have to look into this as obviously I would want as much possible when transferred.