RSU Grants in foreign currency (USD)

iku04108

Hello,

I have stock held in USD from a US company operating in the UK. These are held in USD however there will be charge to convert to GBP.

I am visiting the USA later in the year and my preference would be to keep them in USD to avoid currency exchange fees (x2).

I was thinking the only option would be to have a bank account in the USA and have the shares transferred in USD and I can use the USA bank card when I am out there, but is that possible if I am not a resident? Does anyone have any ideas as to what options I would have?

Thanks,

KH 

SiliconChip

This isn't really a holidays question, and I think you'll get better answers if you ask for the thread to be moved to another board: RSUs often come up on the Cutting Tax board, and USD accounts on the Banking board, so one of those is probably the best option. My view is that you'll find it very difficult if not impossible to open an account in the USA, but depending on the value of the RSUs a USD account in the UK might be something to consider.

iku04108

How do I ask to move the thread?

SiliconChip

iku04108 said:

How do I ask to move the thread?

The process used to be that you'd email a board guide who would do the move, but it looks like they have been renamed as Ambassadors now (see the Meet your Ambassadors link further down the page). For the Travel board that's @heatherw_01, @soolin or @Browntoa (they may be notified by having included them in this post, but it might be best to send a message anyway).

MSE_ForumTeam5

We've moved the thread as suggested

Ambassadors are not currently able to move threads, so if you see something that you think would be better placed on a different board, please use the 'report' button and pick the 'needs, moving, merging or splitting' option from the list and the Forum Team here at MSE Towers will attend to it.

sausage_time

Who is the broker that your employer uses @iku04108?  Previous employer used Schwab, and they could issue a US$ Visa Debit card to access your funds (purchases, and ATM with rebate of any fees).  Another option would be Wise - Schwab and ETrade can transfer to Wise USD virtual account at no cost.  Note, Wise do not have FSCS protection.