access to USD in the UK directly from USD account?

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Hi -

I wondered if anyone knows if it is possible/how to access USD cash in the UK without converting from USD to UKGBP back to USD. Basically, I have a USD account in the US that I use as my main account (though i'm from the UK but i work internationally) - I need around 2000 USD in cash - but can't work out how I can get this without converting to UKGBP first, and then back to USD. I only have a very basic UKGBP account here, and my USD bank is a credit union so nothing with a branch in the UK. Do you know if ATMS that disburse different currencies also convert into UKGBP before giving out USD - maybe that is an option.

Any advice appreciated!
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  • silvercar
    silvercar Posts: 46,960 Ambassador
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    You need to ask your US bank. They may very well have a reciprocal arrangement with a bank over here.
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  • novelty-socks
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    Your exact situation seems somewhat unusual to me, but it's possible a company like Transferwise might be able to help. They made it very easy for me to open a USD account to store the profits of some shares I sold - I'm not sure if they also offer cash withdrawals (potentially not, as they're an online company), but they are UK based so it might be worth some research.
  • eDicky
    eDicky Posts: 6,574 Forumite
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    There are ways to avoid bank fees and rates on transfers, but not to access USD cash in UK. Multi currency ATMs that dispense dollars will also impose the double conversion on a non GBP card, at terrible rates.

    What does your credit union card charge for use in GBP? Maybe you can use it to purchase USD cash from an exchange...
    Evolution, not revolution
  • Voyager2002
    Voyager2002 Posts: 15,284 Forumite
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    Why do you need the cash in dollars? If you want to spend it in a country that uses the USD, wait until you arrive and use an ATM at the airport. If you need to settle a bill in USD, write a cheque.
  • kk441
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    Thanks a lot for the replies - will look into all of them, looks like I will need to purchase from an exchange as a best option.

    Voyager2002: Pretty poverty stricken countries with conflict, so typically ATMs there are disbursing the local currency (IF connected to the network and actually functioning) while USD (often newer notes etc.) works as an informal currency as well (and are sometimes preferred because local currencies can fluctuate and be unreliable). Not to mention, in some places withdrawing equivalent of 1000 USD would result in a bag of money basically because the currency notes are of such low value and so small. Since bank cards and cheques can't be relied on as these kind of economies are basically cash based it's pretty essential to turn up for the first time in these places with USD cash (and to have on hand for general emergencies). Typically it is then possible to set up a local bank account in USD through my work for part of my salary and withdraw USD bills from a cashier old skool style but depends on the place, and doesn't work on first arrival. Usually, I would withdraw from the US, or have dollars from closing down my last local dollar account, but I don't have either this time around....so, I need dollars in hand before flying.
  • dont_use_vistaprint
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    The other problem you will face in the UK is getting newer notes. Do you happen to be going to a country with 2 exchange rates ? Have you tried using Euro or Pounds instead, often there are people on the unofficial exchange doing currency triangles. I used to have the same issue but switched to using Revolut this year and dont carry USD at all now
    "It is not the critic who counts..." - Theodore Roosevelt
  • kk441
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    Thanks - I'm just trying to work out if it's possible in the UK to get dollars without converting to GBP and back to USD - I know how to deal with travel/expatism otherwise. I'm arriving in a place where you can not rely on digital banking or ATMS so landing without hard currency (and pounds are not as useful or accepted as dollars in this regard) is basically insane. If you ask a lot of foreigners or wealthy people living in places like yemen, south sudan, somalia, afghanistan most will tell you they all carry USD cash - and, of course, on first arrival will be carrying some regardless of subsequent arrangements while living there :)
  • Voyager2002
    Voyager2002 Posts: 15,284 Forumite
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    kk441 wrote: »
    Thanks a lot for the replies - will look into all of them, looks like I will need to purchase from an exchange as a best option.

    Voyager2002: Pretty poverty stricken countries with conflict, so typically ATMs there are disbursing the local currency (IF connected to the network and actually functioning) while USD (often newer notes etc.) works as an informal currency as well (and are sometimes preferred because local currencies can fluctuate and be unreliable).


    Evidently you lead an interesting life...


    Does your employer have an office in the UK? I would ask them first if they can make arrangements of some sort.


    Incidentally I vaguely remember that when I had a dollar account with Citibank I could withdraw dollars from it using their one ATM in London: or perhaps I would have needed to travel to Paris to do so. That was about ten years ago, but might be a worthwhile line of enquiry.


    I think that your best option is simply to use your pounds to buy cash dollars, following the advice on this site or wherever.
  • silvercar
    silvercar Posts: 46,960 Ambassador
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    One other option would be to open a USD account with a UK bank. Then you can transfer from your existing account to the new one and arrange the withdrawal from that. Usually that means going into the branch and giving 24 hr notice
    I'm a Forum Ambassador on The Coronavirus Boards as well as the housing, mortgages and student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
  • Voyager2002
    Voyager2002 Posts: 15,284 Forumite
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    silvercar wrote: »
    One other option would be to open a USD account with a UK bank. Then you can transfer from your existing account to the new one and arrange the withdrawal from that. Usually that means going into the branch and giving 24 hr notice


    Do UK dollar accounts allow dollar cash withdrawals? I would be surprised: I suspect that the funds are first converted into sterling, then the sterling is used to buy dollars.
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