US dollar bank account
Discussion
I left my old US-based company earlier this month, and need to sell my share options before 4th April.
Depending on share price, it's likely I'll get somewhere between $1000-$4000 after tax. Obviously with the current rate of exchange it's not a great a deal as it could be.
Anyone have any ideas how I could deposit this money in a USD bank account, ideally that I could access in the USA - I want a laptop/ipod/telescope....
Depending on share price, it's likely I'll get somewhere between $1000-$4000 after tax. Obviously with the current rate of exchange it's not a great a deal as it could be.
Anyone have any ideas how I could deposit this money in a USD bank account, ideally that I could access in the USA - I want a laptop/ipod/telescope....
If you don't get any constructive suggestions, feel free to e-mail me via my profile... I live in Europe and am paid in the US, so I have a bank over there.
I have no vested interest in the bank, but they seem to be working out reasonably well... I can check balances on-line, there are no fees for maintaining my account (they don't pay me interest either, otoh).
Are there no British banks with branches in the US? I'd feel much more comfortable if I could walk in to a local branch and talk to a human being if I wanted to do something weird...
I have no vested interest in the bank, but they seem to be working out reasonably well... I can check balances on-line, there are no fees for maintaining my account (they don't pay me interest either, otoh).
Are there no British banks with branches in the US? I'd feel much more comfortable if I could walk in to a local branch and talk to a human being if I wanted to do something weird...
When I needed a dollar account I just spoke to my bank (natwest) and they sent me the necessary forms. These included the necessary for taxing intrest at source type things. Was a while back but no hard ship.
Organised a US credit card based on it, although needed to put money on deposit with credit card compnay for a couple of months to "build up credit rating"
Did my time there, got paid, made my purchases and paid on the card then paid card off.
No real hardship apart from filling out a few forms.
Organised a US credit card based on it, although needed to put money on deposit with credit card compnay for a couple of months to "build up credit rating"
Did my time there, got paid, made my purchases and paid on the card then paid card off.
No real hardship apart from filling out a few forms.
Plotloss said:
Citbank you can have a dual currency account with, same with American Express.
The high street banks over here dont want to know about offshore unless you are a highly liquid individual. I tried saying the body was composed of 80% water but it held little weight...
As do Barclays (I have a dual currency GBP/$US with them).
I still get the odd "Are you a major player in Colombian marching powder?" but aside from that they are fab. If you're converting a large sum to US they will give you as best a rate as the markets will allow.
I'd never have anything to do with ShittyWank again after we had a mortgage with them yonks ago. I still don't know how we wriggled out of that without paying a cent in penalties. Basically base rate tumbled - they left their rates static - we phoned them to try and bargain - they didn't want to know - we gave them notice - their loss.
puggit said:
Plotloss - I don't want access over here! I fancy popping over to NY on a shopping trip
Most of the major banks will allow you online access. Personally I use Wachovia (www.wachovia.com). If you won't be needing the money on a day to day basis, try throwing it into a capital asset management account (CAP account). The bank pays you very healthy interest on it and you can write checks when need be...
ErnestM
I was looking into a CitiBank account. The thing that appealed is that it is a genuine US bank account held at their New York branch with funds held in dollars.
Most of the banks will give you a dollar account, but on closer inspection it is just a facade onto a sterling account, so whenever you pay in the funds are converted to sterling at the prevailing rate and when you pay out their converted into dollars at the prevailing rate. The is obviously a bit crap.
If there are other genuine dollar accounts like the CitiBank account then I'd be extremely interested as CitiBank want the dollar equivalent of a £2000 deposit to set an account up, which is a little too rich for me right now.
>> Edited by JonRB on Friday 30th January 15:45
Most of the banks will give you a dollar account, but on closer inspection it is just a facade onto a sterling account, so whenever you pay in the funds are converted to sterling at the prevailing rate and when you pay out their converted into dollars at the prevailing rate. The is obviously a bit crap.
If there are other genuine dollar accounts like the CitiBank account then I'd be extremely interested as CitiBank want the dollar equivalent of a £2000 deposit to set an account up, which is a little too rich for me right now.
>> Edited by JonRB on Friday 30th January 15:45
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