Best offshore USD Acount with UK Branches?

EagerLearner

Hi all,

Someone I know needs ideally an offshore USD account but that has UK branches - she has suggested she might go with Royal Bank of Canada, but I wanted to tap into MSE knowledge to see if there are better USD accounts out there - any thoughts?

Any help much appreciated :T

EagerLearner

Hi there - any ideas? Really would appreciate any help.

RayWolfe

Lack of response may mean no sensible answers ... the question looks like a mass of contradictions to me. but maybe walking into a major high street bank may provide more answers than you're getting here.

Jonbvn

EL,

I know HSBC International (Jersey) offer a USD current account. However, transacting USD through a UK branch would be extremely difficult (may be impossible), since the USD a/c does not have a sort code and account number, in the same manner as a sterling account.

I would suggest that your friend gets both a USD & GBP current a/c offshore. With the GBP current a/c they will get a debit card in sterling.

EagerLearner

Thanks all - just to clarify the reason I asked here is that I can't get to the banks until Saturday plus MSE has always been the place for sensible financial information & cost cutting, hence you guys might know about the cheapest USD accounts across the UK whereas I have limited access.

To clarify, the client wants the account here so they can receive funds in USD from US clients ie she won't need to use it for normal transactions/debits etc.

I will start with my local HSBC as it's prob the only bank accessible & likely to know (compared to building societies I can get to etc).

Any other thoughts and recommended banks much appreciated.

gt94sss2

EagerLearner wrote: »

To clarify, the client wants the account here so they can receive funds in USD from US clients ie she won't need to use it for normal transactions/debits etc.

I will start with my local HSBC as it's prob the only bank accessible & likely to know (compared to building societies I can get to etc).

Any other thoughts and recommended banks much appreciated.

I see the problem - you want a USD account in the UK. However, your use of the word 'offshore' seemed to suggest you wanted a non UK based account rather than a non USA based account.

The good news is that any High Street bank will be able to open a USD account for you.

Some like HSBC would also be able to open a USD account based with them in America if that was easier for you/your client/their customers.

Regards
Sunil

guynextdoor82

ur best bet is to open a CITIBANK uk account with USD savings that way incoming currency is not charged and is immideatley able to withdraw as the money is cleared through citinank new york

HSBC USD account minimum is £10k....