paid in US dollars-which UK bank?

UncleBobsLoon

Hi, I am a UK citizen living in the UK and have recently started a new job which pays me in US dollars. I am after advice on which banks offer the best conversion rates back into £'s.
I would like to avoid banks that offer the tourist rate when converting my wages into £'s therefore maximising my wages rather than losing them to the bank!!
All comments appriciated

sunflower2881

I am American and understand the complexities of dealing with multiple currencies. Lloyds has a multiple currency account in USD, Euros and GPB. I think there is an income threshold.

take a look at Llloyds website and click on the international tab. (I tried including a link but as I'm a newbie it won't let me)


I also think Citibank has this kind of account as well..

Voyager2002

Yes: Citibank does offer this account but there is likely to be a monthly fee.

The point is to ensure that your funds are paid into a dollar account, and then you will be able to control how they are converted into sterling.

grumbler

Voyager2002 wrote: »

The point is to ensure that your funds are paid into a dollar account, and then you will be able to control how they are converted into sterling.

Don't expect to be in full control as dollar transfers in UK are not free.

System

You'll always get a better deal with large amounts of forex.

Citi cost about £5 per month unless you keep around $3000 dollars in the account

Can you open a US based checking account? Some providers offer free overseas access and others such as Bank of America have arrangements with Barclays for reduced fee withdrawals.