Cheapest way to be paid in USD???

counciltaxbill

I'm getting paid in USD soon as my job is changing.

I am a UK resident so need to be able to cheaply buy/swap to GBP for my day to day banking.

HSBC will do me a USD account for £60 quid a year.

I can get a free USD account based in the US with my company. I could go online to move money about.

I suppose the issue is how much it will cost me to transfer each time and what commission is going to be? I'd like to transfer once every one or two months or so.

Any advice? Thanks.

nicter

When my son was in this situation he moved his money from foreign account into uk account each pay day attracting just one fee per month. Otherwise he was charged for every transaction (ie direct debits) which got costly

grumbler

counciltaxbill wrote: »

I can get a free USD account based in the US with my company. I could go online to move money about.

I suppose the issue is how much it will cost me to transfer each time and what commission is going to be? I'd like to transfer once every one or two months or so.

http://www.mycurrencytransfer.com/money-transfer-to-UK/1000-USD

For a bigger amount it shows one more option.

counciltaxbill

grumbler wrote: »

http://www.mycurrencytransfer.com/money-transfer-to-UK/1000-USD

For a bigger amount it shows one more option.

Thanks for that. It might be the way to go. I can save £60 a year by having my USD account in the US and maybe do 6 transfers a year at about $5 a time or something and use the best rate I can get which will be better than what HSBC would do between accounts.