Frazdog

This question has probably been asked a few times but...

I'm looking to have a bank account in the US and in the UK that I can transfer money easily enough between as I will have bills to pay etc. back in the UK.

Is HCBC suitable or Santander??

I would like 1 that I can have both accounts on an app on my phone and do simple transfers. Is this possible?

Thanks Guys!

Suexpat

We have HSBC and can transfer in seconds. We don't have any branches of HSBC here in Texas but as I do all my banking online there hasn't been any problems.

Pulaski

I don't think Santander is that connected internationally.

I hear that HSBC's services are either expensive or require an absurd minimum balance (I think I read $100,000). Citibank offers similar services, and I think they are similarly expensive and/or require a massive minimum deposit. So, in short, you're going to pay very handsomely for the "convenience". Keeping a "float" in a bank in each country, and making periodic transfers using xe.com or similar, is likely to be much cheaper, and, IMO, only a little less convenient.

Bob

They took over Sovereign, not the dodgy Brazilian Sovereign, the other dodgy one that was collapsing. They're a fair bit up in the north east...but they're still shit.

Pretty much every bank these days have a phone app for their online services, so that's not even a issue...and neither would transferring money, as best method, as suggested would be a currency exchange service such as xe.com

Pulaski

Right, we have discussed that before, but I meant that I don't think that Santander has Sovereign "fully plugged in" to its British and European network. I also think they're planning to flog off their UK operations in the near future.

durham_lad

I have an HSBC checking and savings account in the UK that I pay no fees for, plus a no-fee US internet bank. To transfer money between the 2 I use XE.com, which is one of many such services. Once the bank accounts details are set up in XE.com it is very easy to transfer money between the banks, and it takes a few days for each transfer, which for me is quite acceptable.

I do all my banking online in UK and US.

H Bomb

We have just set up our USA bank accounts and credit cards with HSBC - easy to transfer between the two and easy to manage everything online. Problem is the rate you get.

We are looking into options now. Signed up for TorFX, but looking at their rate now I dont think that is particularly great either. Looking into using BestForeignExchange at present.

MidAtlantic

I have used TorFX many times and their rates have always been among the best. Talk to them and, depending on the amount involved, you can usually do a deal. The rate on their website is, of course, the standard mid-market rate.

Frazdog

Thanks guys!