USD TO GBP Bank Account

lkettles

Looking for some advise, my partner works for a US company and gets paid in USD, he then has an high street bank. the EX rate isn't great, and with him getting paid every two weeks, he seems to be losing quite a bit of money. I was wondering if there was a bank account that would be better for him, especially with the EX rate. 
Thank you

lkettles

sorry just realised this was posted in the wrong area. 

paulttt

I use wise for my transfers.  You can pay in in practically any currency and exchange at very good rates compared to high street. 

ToastLady

What about a Revolut account? Can be paid in dollars and transfer to Sterling, then onto UK bank if required. Not sure of the difference between Revolut and Wise rates.

WastedWords

HSBC USD Currency account to receive. Move USD into HSBC Global Money Account and convert at rates similar to or better than Wise and you will have FSCS protection. You will need an HSBC current account to open both the Currency and GMA.

Revolut have a poor reputation for customer service. Probably the cheapest to convert <1000 GBP per month but then you will pay charges or need to move to one of their premium accounts.

FredTrump

WastedWords said:

HSBC USD Currency account to receive. Move USD into HSBC Global Money Account and convert at rates similar to or better than Wise and you will have FSCS protection. You will need an HSBC current account to open both the Currency and GMA.

Revolut have a poor reputation for customer service. Probably the cheapest to convert <1000 GBP per month but then you will pay charges or need to move to one of their premium accounts.

HSBC UK doesn't offer domestic USD banking details so there may be further charges compared with Wise or Revolut that actual offer those details.

eDicky

lkettles said:

gets paid in USD, he then has an high street bank.

So it's currently paid directly into a UK bank account? From where?

lkettles

@eDicky it’s paid from his American employer into his UK bank account 

eDicky

lkettles said:

@eDicky it’s paid from his American employer into his UK bank account 

So better conversion rates are obtained using the solutions mentioned, rather than directly to the bank giving adverse rates.

PRAISETHESUN

+1 for Wise or HSBC options. I recommend against Revolut for their poor customer service. But otherwise all the suggestions are good. Provide the US employer with USD account details, and then manage the currency conversion yourself. Don't get USD paid directly into your GBP account.