Getting decent interest on foreign currency savings

I have some dollars in a foreign bank dollar account (I lived outside the UK for a while), and I want to move them to the UK but keep them as dollars for a currency hedge. I see that there are plenty of Sterling savings accounts offering over 5%, but haven't seen anything close for foreign currency accounts. Any ideas? "Challenger" banks also fine.

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  • topperdoggle
    topperdoggle Posts: 22
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    Aidanmc said:
    I'd prefer instant access but thank you, a great start.
  • Aidanmc
    Aidanmc Posts: 690
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    They have instant access saver too but rates not great.

  • wmb194
    wmb194 Posts: 3,129
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    edited 10 January at 5:01PM
    You could use Wise's USD account. Your money would be invested with a Blackrock money market type fund (low risk, invests in very short dated government and corporate bonds) but it gives instant access.

    https://wise.com/gb/interest/


  • topperdoggle
    topperdoggle Posts: 22
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    wmb194 said:
    You could use Wise's USD account. Your money would be invested with a Blackrock money market type fund (low risk, invests in very short dated government and corporate bonds) but it gives instant access.

    https://wise.com/gb/interest/


    Interesting but I have stocks (yes I know) elsewhere, I'd rather this was just interest.

    Also, not that past performance predicts but:
    "The fund has returned an 1.53% annual average over the last 5 years, excluding Wise fees."
  • EthicsGradient
    EthicsGradient Posts: 816
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    wmb194 said:
    You could use Wise's USD account. Your money would be invested with a Blackrock money market type fund (low risk, invests in very short dated government and corporate bonds) but it gives instant access.

    https://wise.com/gb/interest/


    Interesting but I have stocks (yes I know) elsewhere, I'd rather this was just interest.

    Also, not that past performance predicts but:
    "The fund has returned an 1.53% annual average over the last 5 years, excluding Wise fees."
    The last 5 years include some very low interest periods - I doubt you'll do significantly better elsewhere. The fund is benchmarked against the Secured Overnight Financing Rate, so this basically is "just interest", with a fee (and that fee seems pretty inevitable - this is not mass-market stuff you're looking for)
  • wmb194
    wmb194 Posts: 3,129
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    edited 10 January at 6:04PM
    wmb194 said:
    You could use Wise's USD account. Your money would be invested with a Blackrock money market type fund (low risk, invests in very short dated government and corporate bonds) but it gives instant access.

    https://wise.com/gb/interest/


    Interesting but I have stocks (yes I know) elsewhere, I'd rather this was just interest.

    Also, not that past performance predicts but:
    "The fund has returned an 1.53% annual average over the last 5 years, excluding Wise fees."
    It should currently yield about 5% and it's cash-like. If you follow the link it shows an estimate.
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