US dollar account

examiga

Is it possible to get a US dollar account over here in the UK (or if better US)
and when the £ to $ rate is good save up init. As I have holiday home in the US (only a time share so nothing special) If so could I transfer money into easy enough from £ To $ using online banking. My main UK bank is Barclays would it easy to transfer money into it using the link you adverstise https://www.xe.com/fx/

Or would it be just as better to save up in ISA or something overhere and use say the Nationwide credit card (no charges overseas) in the US when I spend/buy things.

jonesMUFCforever

Many UK banks will open a dollar account for you but beware some charge. The account could also be domiciled abroad in places like Jersey or Isle of Man.
Some will let you pay in and withdraw cash - others won't (cheques or international transfers only)Expect to pay a charge for each credit and withdrawl in addition to an annual fee. Some may offer you a dollar debit card.
Eric

examiga

ejones999 wrote:

Many UK banks will open a dollar account for you but beware some charge. The account could also be domiciled abroad in places like Jersey or Isle of Man.
Some will let you pay in and withdraw cash - others won't (cheques or international transfers only)Expect to pay a charge for each credit and withdrawl in addition to an annual fee. Some may offer you a dollar debit card.
Eric

It sounds to much hardwork it might be just as easy (for me) to just use a credit card (say Nationwide no extra charges) and pay of what I owe at end of 56 days. Its just that I see good £ to $ rates sometimes and would like to take advantage as when I do use my credit card might be bad rates at the time.

There are some US bank in the UK unless I get an account with them and its ok to put dollars in rather than pounds?!

grumbler

examiga wrote:

It sounds to much hardwork it might be just as easy (for me) to just use a credit card (say Nationwide no extra charges) and pay of what I owe at end of 56 days.

Yes, plus use Nationwide debit or cash card to withdraw money from ATMs.

Its just that I see good £ to $ rates sometimes and would like to take advantage as when I do use my credit card might be bad rates at the time.

You can become a currency broker and make a lot of money if you can predict future rates!:rolleyes:

There are some US bank in the UK unless I get an account with them and its ok to put dollars in rather than pounds?!

Citibank. Their ££ Direct Current Account is very good too. And you can get £30 cashback if you apply through http://www.rpoints.com/. However, I think it is simpler to use Nationwide cards.