Paying US DOLLARS cash into a UK account

skaps

Hi
Can you pay US dollars into a UK bank account or is the only way you can do this is to convert the dollars to pounds first?

RuthnJasper

I have been able to do it. When my lovely Jasper (dog) died, some of his American "fans" (of his long-running blog) sent cash donations in his memory by Airmail (not actually sure if that's allowed, but I didn't invite them, as well-intentioned as they were...).

I paid the dollars into my Natwest account, but they did apply the going exchange rate fee (probably cheaper than changing the money beforehand though).

Hope this helps.

grumbler

skaps wrote: »

Can you pay US dollars into a UK bank account

Yes, you can. Expect to lose ~3% on conversion.

or is the only way you can do this is to convert the dollars to pounds first?

I don't understand what you ask. EDIT: I do now.
Converting first is not the only way, but, depending on the amount, most likely a better way:

>> http://travelmoney.moneysavingexpert.com/buy-back/

Caladan

Maybe OP means can he hold it in dollars still?

If so - The answer is no. The only option to keep dollars would be to open a dollar account which some banks provide (albeit likely with 0% interest and a monthly fee).

If not - The answer is yes, but it will be changed to sterling at whatever rate the bank decides to apply and as grumbler says, you can expect to lose a good 3% on conversion.

RVP991

If you have the money in Paypal it automatically converts as you send it to your bank, although I'm guessing from your post you have it as notes.