Being paid in US Currency

mark71166

My daughter has just started working for a cruise line and while training she is paid in sterling. Once she sets sail though he wages will be paid in US Dollars. People who worked last year said they lost a lot of money paying commission on changing their money to Sterling and then terrible exchange rates on offer. Is there a bank account or an easier way of having your wages paid in dollars and converting them into pounds without paying the high exchange rates? She currently has a Santander bank account and uses a Monzo card for purchases and travel.

CKhalvashi

I'd recommend something like Wise, although it's not FSCS protected in the traditional way, there is a similar way of protection. They offer US bank details and she can hold and spend money in USD alongside other currencies. It's also fee free unless you use it.

This isn't my speciality as a currency, but I rarely pay above about 0.5% and never more than 1% (the transfers in this case are small) on transfers to other currencies with this method.

Their fees are here.
https://wise.com/gb/pricing/

penners324

Revolut or Wise are her best options. 

She can use a debit card on both as well.