Go Back  British Expats > Living & Moving Abroad > USA
Reload this Page >

Opening $US account in U.K.

Opening $US account in U.K.

Old Oct 20th 2005, 10:35 am
  #1  
Ping-ponger
Thread Starter
 
dunroving's Avatar
 
Joined: Jul 2002
Location: Dreich Alba
Posts: 11,964
dunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond repute
Default Opening $US account in U.K.

What experience have any of yuo had with opening a $US account in the U.K., while living in the U.S.?

I know people (including me) have had trouble opening regular checking/current accounts in the UK while living here. But what about $US accounts?

I bank with Barclays, who I believe have the facility for a $US account. Is this the kind of thing I could do via a letter? I won't be going home for a while, and I need to open it within the next few weeks/months. Tired of messing with bouncing exchange rates when sending money home and want to have it sitting in a $US account at home for the moment.
dunroving is offline  
Old Oct 20th 2005, 12:47 pm
  #2  
 
Joined: Feb 2002
Posts: 6,840
Englishmum has a reputation beyond reputeEnglishmum has a reputation beyond reputeEnglishmum has a reputation beyond reputeEnglishmum has a reputation beyond reputeEnglishmum has a reputation beyond reputeEnglishmum has a reputation beyond reputeEnglishmum has a reputation beyond reputeEnglishmum has a reputation beyond reputeEnglishmum has a reputation beyond reputeEnglishmum has a reputation beyond reputeEnglishmum has a reputation beyond repute
Thumbs up Re: Opening $US account in U.K.

Originally Posted by dunroving
What experience have any of yuo had with opening a $US account in the U.K., while living in the U.S.?

I know people (including me) have had trouble opening regular checking/current accounts in the UK while living here. But what about $US accounts?

I bank with Barclays, who I believe have the facility for a $US account. Is this the kind of thing I could do via a letter? I won't be going home for a while, and I need to open it within the next few weeks/months. Tired of messing with bouncing exchange rates when sending money home and want to have it sitting in a $US account at home for the moment.
Since you're not living in the UK (yet) you just need to open a current account with an offshore bank in the Isle of Man, Jersey or Guernsey. When you move back to the UK you just transfer the account to a convenient local branch.

We bank with the Lloyds TSB Overseas Club in the Isle of Man and it operates exactly the same as a usual current account with a combined Cashpoint (ATM) and Visa credit card, cheque book and telephone banking. Ours is a current account in sterling but you can also have an account in US$ or Euros.

http://www.lloydstsb-offshore.com/Ex...ling+USD+Euro/

(It also informs you how to open an account...it's not difficult at all )

Virtually all the well-known British banks and building societies have branches on the Isle of Man or/and the Channel Isles and they operate just the same as on the mainland, with the exception that any money you deposit which was not earned/derived in the British mainland is not subjected to tax by the Inland Revenue. Many of these banks also offer accounts in US$ and Euros too. If you go to this website, go to the 'Advertisers & Links' index and in the drop down column you will find lots of links to the various offshore banks and b/s:

http://www.expatinvestor.com

Hope this helps!
Englishmum is offline  
Old Oct 20th 2005, 4:49 pm
  #3  
Ping-ponger
Thread Starter
 
dunroving's Avatar
 
Joined: Jul 2002
Location: Dreich Alba
Posts: 11,964
dunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond repute
Default Re: Opening $US account in U.K.

Originally Posted by Englishmum
Since you're not living in the UK (yet) you just need to open a current account with an offshore bank in the Isle of Man, Jersey or Guernsey. When you move back to the UK you just transfer the account to a convenient local branch.

We bank with the Lloyds TSB Overseas Club in the Isle of Man and it operates exactly the same as a usual current account with a combined Cashpoint (ATM) and Visa credit card, cheque book and telephone banking. Ours is a current account in sterling but you can also have an account in US$ or Euros.

http://www.lloydstsb-offshore.com/Ex...ling+USD+Euro/

(It also informs you how to open an account...it's not difficult at all )

Virtually all the well-known British banks and building societies have branches on the Isle of Man or/and the Channel Isles and they operate just the same as on the mainland, with the exception that any money you deposit which was not earned/derived in the British mainland is not subjected to tax by the Inland Revenue. Many of these banks also offer accounts in US$ and Euros too. If you go to this website, go to the 'Advertisers & Links' index and in the drop down column you will find lots of links to the various offshore banks and b/s:

http://www.expatinvestor.com

Hope this helps!
I just knew you'd know the answer to my question!

Thanks!

d.
dunroving is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.