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Foreign Currency Account - UK

by samir141
4 replies
Wonder if anyone can advise, I have been searching the net in the UK for recommended Foreign Current Accounts linked to a business current account, although many offer the service there seems to be charges, qtr, per transaction between a/c etc... can any one recommend a good business a/c which can be linked to a $ a/c in the UK.

Thanks in advance for your help.
#account #currency #foreign
  • Profile picture of the author Ruka
    From my research, HSBC seems to be one of the best ways to go. If you make an appointment at your local branch they can talk you through it.

    Are you concerned about Sterling?
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    • Profile picture of the author samir141
      Originally Posted by chickenlittle View Post

      From my research, HSBC seems to be one of the best ways to go. If you make an appointment at your local branch they can talk you through it.

      Are you concerned about Sterling?
      Yes I am concerned about sterling to, but I'm guessing the business current account will cover that, or am I missing something?

      As it happens all my research so far points to HSBC to so thats good :-)
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  • Profile picture of the author Ruka
    Yeah, for a worldwide business it certainly makes sense to me not to hold everything in Sterling.

    Your business current account would normally be in Sterling as you live here, but you can add connected accounts in the other main currencies and shift cash as you wish. Watch for the fees charged when they convert.

    You might also be interested to know that you can hold different currencies within your Paypal account, avoiding unnecessary currency conversion fees that way.
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    • Profile picture of the author helisell
      If it is just for $US cheques like those from cb then just open a currency account. I have one at Natwest. I'm sure it cost nothing to set up and I just pay my chques in at the branch.

      The benefit is that I can move it to my bus ac when the rates are favourable.
      The transfer is also free so the only cost is the 'negotiation fee' for it being in a foreign currency.

      I only get chques over $1000 so the charges are not too bad.
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