Getting decent interest on foreign currency savings

topperdoggle

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.

Aidanmc

Lloyds have a 1 yr fix, min 10k 3.6%, 50k+ 5%

https://www.lloydsbank.com/international/products-and-services/saving-accounts.html

topperdoggle

Aidanmc said:

Lloyds have a 1 yr fix, min 10k 3.6%, 50k+ 5%

https://www.lloydsbank.com/international/products-and-services/saving-accounts.html

I'd prefer instant access but thank you, a great start.

Aidanmc

They have instant access saver too but rates not great.

wmb194

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

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

topperdoggle said:

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

topperdoggle said:

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.