American Bank Account

oiler1

My first visit to the site. This is my situation. I have shares in dollars in an American company and the shares are presently managed by the Bank of New York. What I would like to do is sell the shares and not have to convert them back to sterling because of the poor exchange rate. I would like to open an American Bank Account and place the profits in it for holiday spending money. Does anyone know how to go about doing this without incurring major expense?

oiler1

grumbler

citibank (UK) US Dollar Current Account ?

cat's_mother

Hi oiler1,

We are in the same situation - my husband works for an American company and is about to have his share options paid out in dollars - we want to do something similar. Have you had any luck finding a solution yet? We have contacted a couple of banks who will clear the funds and convert to sterling here but have said it'll take 6-8 weeks for a dollar cheque to clear!!

cat's mother