sibsie

I have a stack of Euros that are currently in Spain. I want to get them out ASAP but don't want to convert to $ just yet.

My own bank, Citizens doesn't do Euro accounts. Does anyone know of a US bank that does?

Bob

Can't you get an off-shore account to hold the money in?
I know there's a bank that does, but I can't remember which one it was, but I read about it a while back, probably HSBC...

sibsie

I've been shopping around but the prob is that the UK banks that offer them offshore seem to have some trouble accepting that I live in America re the ID and some money laundering act crap. I really wanted to open an account from here and not have to go back to the UK to do it.

Bob

bit of an arse that...there no one that could open a joint account with you there or somin'?
And if you have an HSBC account over here, I'm sure you could open an off-shore account, and I think there's a branch in boston...
If it ain't an HSBC, it's a Barclays, anyway, either one of 'em should be able to help you out

fatbrit

Wierd this: You read the HSBC UK site and there seems to be no problem holding an account in any major currency. Flip to their US site and there's diddly squat. Hello America, there is a world out there you know!

Bob

That is weird...but there's a branch in Boston, I'm pretty sure it was an HSBC that had the branch there, so might be worth popping in and speaking to someone there....least it's a global bank, so they should know what's going on with other branches....you would hope at least

Lion in Winter

Maybe the Spanish Embassy would have a bright idea.

tony126

According to my internet search,
HSBC
99 High St
Boston
MA 02110

TEL No 617 357 8080

Bob

I knew there was a branch out there, I've seen a few branches in random places listed on the website before

sibsie

Thanks for that guys. I knew I could rely on you!

Pulaski

That would be because it is more or less prohibited for US citizens, and permanent residents, to have accounts outside the USA. This is apparently to protect poor, and not so poor, hapless Americans from being rooked by all those nasty, jealous, foreigners who don't know how to run banks, and where banks don't have $100,000 dollars of 100% protection for cash on deposit.

fatbrit

Can't be too careful with those bloody foreigners, can you!

Englishmum

It sounds that an offshore bank account might just suit your needs as you can then choose the most advantageous time to bring some or all of the Euros into the US. We have an offshore account with LloydsTSB in the Isle of Man; they offer current and savings accounts in Sterling, Euros and US$....we have a current account exactly as we would have if we were still living in the UK so we have the ATM/Credit card, chequebook, internet & 24 hour phone banking etc. We also have an offshore savings account with Britannia International on the Isle of Man...sadly our savings are being rapidly depleted with our daughter at uni in London LOL!

Most of the UK High Street banks and building societies have offshore centres in the Isle of Man or the Channel Islands (you can find some of them in the 'advertisers' section here):

http://www.expatinvestor.com

Our offshore bank is:

http://www.lloydstsb-offshore.com

(You would need to get a photocopy of your passport notarised...their info re; this is on their website too).

Also you might want to check out ING Direct (US and offshore). (It's the Dutch owned bank which took over Barings....they pay good rates of interest).

sibsie

Thanks for all that English Mum. I'll plough through the links.