Forign currency bank accounts.

[Waldo 96]

I'm recieving regular royalty payments in USD, and these are currently going in to my regular UK bank account. The only problem is I am charged £8 for each payment (so when I get lots of smaller payments, it's not so good), also, the bank chooses it's own exchange rate, to convert $ to £.

 

What's the situation with foriegn currency bank accounts in the UK, is it possible to have a UK current account in USD currency?

 

Any recommendations? and also what might the costs be for such an account?

 

Thanks,

[Ian Thompson 10]

All the main banks will allow you to hold a $ account with them but as for costs.....how longs a piece of string. ie. Ask your bank then shop around. If all that is happening is a few transactions in and out with a credit balance on the account, ask for a $ deposit account!

[spectra 10]

Hi, HSBC are now in the USA and offer free 'checking' accounts. Not sure who you bank with over here but a USD account is very easy to apply for. You dont need a USA address and can run it by internet banking.