Jasmine Birtles
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Top 7 US dollar currency accounts
Reading Time: 4 minutesLooking for a US dollar currency account but not sure which one to choose? Fear not – we’ve compiled a list of the top seven dollar currency accounts, so you can pick the one that’s most convenient for you.
- Who should have a dollar currency account?
- Citibank oreign Currency Account
- NatWest Business Currency Account
- Barclays Foreign Currency Accounts
- HSBC International Personal Current Account
- Lloyds TSB Premier International Account
- The Gold Bank Account – Santander International
- American Dollar Account – TransferWise
Who should have a US dollar currency account?
The US dollar is the currency used in the United States and if you travel there often, transfer money frequently, plan to move to the US or receive an income from a US employer, it can be useful, and cheaper, to have a dollar currency account (commonly referred to as foreign currency accounts and multi-currency accounts as well). It’s simple to open an account and money can then be transfered with ease. Once you open your account, managing your foreign currency will become quick and easy, but first you must decide which one to choose.
Low charges – Citibank
Foreign Currency Account
- Pay no transaction fee for purchases overseas in the currency of your linked account
- Fee-free cash withdrawals overseas in the currency of your linked account, from a Citibank ATM
- Global access 24 hours a day, 365 days a year
- No foreign exchange costs when receiving money in the same currency as the account
Multiple currencies – NatWest
NatWest Business Currency Current Account
- Currency choice – available in a range of major currencies
- Cheque book available for dollars and most other currencies
- Transfer money electronically
- Make payments worldwide
- Overdraft facilities (subject to agreement, in all major currencies)
- Clear charges – there are standard transaction charges
- Because this is a capital account, no minimum balance is required
Multiple currencies – Barclays
Barclays Foreign Currency Accounts
- Open an account in Euros, US dollars and 10 other currencies including the Japanese yen the Swiss Franc
- Conduct business in a foreign currency as easy as in pound sterling
- Settle transactions in dollars on the same day
- Write cheques in your account’s currency
- You’ll need a sterling current account to open this account
- Free Transfers between Barclays accounts
- You won’t have to pay a cash handling fee when you pay into or withdraw from your account (order cash before 1pm for delivery the next working day)
No minimum balance – HSBC
HSBC Currency Account
- No monthly fee for the account
- No payment will apply when sending money to another HSBC account
- Manage your foreign currency quickly and conveniently
- No minimum balance
- 24-hour automated service
- Choose from a range of currencies
- During market hours, the exchange rates are updated by the second
- Available in 14 major currencies including US Dollars, Euros and Chinese Renminbi
For Lloyds customers only
Lloyds – Premier International Account
- No monthly fee
- Choice of 3 currencies
- Fee Free international transfers – send and receive money internationally for nothing
- 24/7 worldwide access to your money
- Account holders only
- Recipient and corresponding banks abroad may charge a fee for receiving payments
- Manage your money in US dollars, pounds and euros, with a debit card for each currency
- Worldwide travel insurance for you and your family
The everyday account – Santander
The Gold Bank Account – Santander International
- An international account that is available in US dollars, Euros and Sterling, each currency comes with its own debit card
- No monthly fee
- Monthly statements, to keep on top of your finances
- Commission-fee rates whenever you need to change currency, although there is a charge applied for international payments and receipts
- Online and telephone banking is available
- Interest rates may vary
The independent account – TransferWise
American Dollar Account – TransferWise
- Get paid by a US employer easily
- Access to US dollars and 40 other currencies
- Obtain bank details for the US, UK and Australia
- Access to a European IBAN
- No fees paid
- Money is protected from currency fluctuation
Useful articles
- Cheapest foreign currency for your holiday
- Sending money overseas: a great way to send money abroad
- Top 5 euro currency accounts
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