2

What is the best option to open a foreign currency bank account in the UK? I have cash savings of around 5k USD that I don't plan on using and would like to keep them somewhere safe without paying excessive fees for the account or for depositing/withdrawing them.

Thanks, Tohiko

| improve this question | |
  • Do you want to also earn interest on the USD savings, or just keep them somewhere safe + without many/any fees? – Gagravarr Sep 4 '16 at 11:38
  • I don't need interest. Just the safety without paying the fees. – Tohiko Sep 5 '16 at 14:37
  • Did you check with your current US bank about keeping the account open? That might be easier and/or have lower fees than an international bank account / UK-based USD account – Gagravarr Sep 5 '16 at 15:05
1

If you have sterling current account with a UK bank you can ask them about their foreign currency accounts

example

There are likely to be fees (e.g. £7/quarter if quarterly average balance < $2000 USD]. £6 per transfer).

| improve this answer | |

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.