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USD bank account in the UK.
BAflower
Posts: 2 Newbie
I had a USD dollar account with Investec and a few years ago they stopped allowing USD accounts for small amounts. They recommended that I ove the money to a savings platform called Insignis.
I now want to move dollars to a UK bank account but it has to be USD account that will accept the transfer which will be US dollars.
Which bank will allow me to open a USD account and receive my US dollars from Insignis.
I now want to move dollars to a UK bank account but it has to be USD account that will accept the transfer which will be US dollars.
Which bank will allow me to open a USD account and receive my US dollars from Insignis.
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Comments
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move not ove.0
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May be iFast https://www.ifastgb.com/iFAST Global Bank – Banking Without Boundaries | Open An Account Online
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Options include
https://www.hsbc.co.uk/current-accounts/products/global-money/
Wise (though not a bank)0 -
Barclays might be another option.BAflower said:I had a USD dollar account with Investec and a few years ago they stopped allowing USD accounts for small amounts. They recommended that I ove the money to a savings platform called Insignis.
I now want to move dollars to a UK bank account but it has to be USD account that will accept the transfer which will be US dollars.
Which bank will allow me to open a USD account and receive my US dollars from Insignis.A stockbroker rather than a bank but Trading212 offers the ability to deposit USD.
https://www.barclays.co.uk/current-accounts/foreign-currency-account/
https://www.trading212.com/multi-currency0 -
Try Revolut.0
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HSBC also have a Currency Account (different from their global money account).gt94sss2 said:Options include
https://www.hsbc.co.uk/current-accounts/products/global-money/
Wise (though not a bank)
I have the EUR denominated version, which allows free transfers within EEA countries. The USD version charges for transfers out, but this page states no fee for receiving.
https://www.hsbc.co.uk/international/currency-account/
I also have the Global Money account, which typically gives better exchange rates than the currency account, but have a Wise EUR account for the best exchange rates (there are other options too).
For larger amounts, I route payments through Wise.
So if you're receiving in USD, you could do sender -> HSBC Currency Account USD -> Wise USD -> Wise GBP -> Your GBP account.
You'll have Wise exchange fees. For EUR, its only the EUR -> GBP exchange fee, but USD has more fees:
https://wise.com/us/blog/fees-changing-usd-jan-18-gbp
As stated above, Wise is not a bank so not FSCS protected, so I'd not leave large amounts in there.
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I believe Wise will charge a USD6.11 *wire fee to receive USD from HSBC so may as well skip the HSBC bit and go direct to Wise.MeteredOut said:So if you're receiving in USD, you could do sender -> HSBC Currency Account USD -> Wise USD -> Wise GBP -> Your GBP account.
To avoid any fees and get the best exchange, HSBC Global USD -> Trading 212.
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