Usa or international account

RAFFLES

I need to open an account in the USA to receive payment from work that i have done in dollars.
will also need to be able to pay out some bills (tax) in US dollars.
Can UK residents open a USA account and transfer money to uk?
Or is there an easy way of doing this?

Daliah

A multi-currency account at Wise might provide a workable option. They aren’t a bank, so have no FSCS protection but should be ok as a money transfer tool.

MDMD

RAFFLES said:

I need to open an account in the USA to receive payment from work that i have done in dollars.
will also need to be able to pay out some bills (tax) in US dollars.
Can UK residents open a USA account and transfer money to uk?
Or is there an easy way of doing this?

It’s probably difficult to open a US account if not a citizen or resident. If payment is being made internationally by them, you should also check with the payer if they require a W-8BEN form from you otherwise they may withhold US tax on the payment.

https://www.irs.gov/forms-pubs/about-form-w-8-ben

RAFFLES

Thank you, some good advice there.

Millyonare

Currencies Direct (CD).

Not a recommendation. Dyor, etc.

ivormonee

RAFFLES said:

I need to open an account in the USA to receive payment from work that i have done in dollars.
will also need to be able to pay out some bills (tax) in US dollars.
Can UK residents open a USA account and transfer money to uk?
Or is there an easy way of doing this?

Is there a reason why the account has to be in the USA? It's going to be very difficult to open it unless you are physically present in the USA and have good reason to open it there. You can receive and make payments in USD from a UK (GBP) account, subject to conversion fees. Or, better still, there are some options to open an account in USD but not in the USA. Daliah suggested Wise which is an option. Fineco is an Italian bank that operates in the UK where you can also open a multi currency account, including USD, and you'd be covered by the Italian (EU) equivalent of FSCS (up to €100,000). You'd be able to make and receive money in USD with either the Wise or the Fineco option.