Living in the UK but going to be paid in US dollars

Stuwat83

Hi
I am about to start a new position abroad and I will be getting paid in US dollars. I will be employed via our Singapore headquarters and will receive my Monthly salary in Dollars and I will still be living in the UK.


What is the best way to receive my salary without having to lose too much on fees and exchange rates? I am lead to believe that getting paid straight in to your bank can be costly.


Any advice would be greatly appreciated.


Thanks

agrinnall

This thread covers more or less the same subject area and may give you some help.

https://forums.moneysavingexpert.com/discussion/5607949

steampowered

I would open a US dollar account with a UK bank. Most of the large banks will let you open a USD account in the UK. For example HSBC and Barclays offer this.

Then, use a currency transfer specialist (I used to use clearfx) to change the money into GBP.

You can't control market exchange rates unfortunately. But you can get a much better exchange rate using a currency specialist than if you use a major bank to do the currency conversion.

Stuwat83

Thanks for the replies