Business USD savings account

HorseBatteryStapler

I run a small UK company with a large portion of our cashflow denominated in USD. We've been using Wise as a USD current account, and I'm very happy with Wise, but we now have more than $300k sitting there not earning interest. I'd like to keep the money in USD, since many of our outgoing costs are in USD also.

Are there any USD savings accounts available for businesses?

tightauldgit

Yes, HSBC do one. I don't know what the T&Cs are on it though. I'd imagine other places offer them too. 

HorseBatteryStapler

I did find the HSBC one: https://www.business.hsbc.uk/en-gb/products/foreign-currency-account

But it has 0.05% interest for instant access and 0.2% access for 1 year fixed deposit - better than nothing, but far below current interest rates. I'm really hoping there's an option out there which offers a more significant interest rate...

tightauldgit

HorseBatteryStapler said:

I did find the HSBC one: https://www.business.hsbc.uk/en-gb/products/foreign-currency-account

But it has 0.05% interest for instant access and 0.2% access for 1 year fixed deposit - better than nothing, but far below current interest rates. I'm really hoping there's an option out there which offers a more significant interest rate...

Most business accounts don't pay competitive interest rates anyway and a USD is reasonably niche so I wouldn't expect to find anything which offers anything like the best rates open to consumers. Barclays don't pay interest at all on USD accounts for example.