US Dollar Accounts at UK Banks...

[incka]

I am sick of the conversion rate being around 2.0 when I cash cheques, meaning $1000 cheques become just £500 when a few years back they would be about £650. The interest rate is about 1.8 but banks charge loads more. Does anyone know a bank that does US Dollar account I can put the cheques into and have to money transfer to paypal from? As I hardly buy anything in UK£ this would be best for me.

I'm sure Mike and Chromate face the same problems with exchange rates I do...

[Mike]

I've started using paypal for everything now, because of this. I just buy most things I need off the net with paypal.

[incka]

Google doesn't pay by paypal, and a few other people don't. I'm going to get azoogleads to pay me by paypal like you do soon...

[Mike]

I doubt they will tbh, they only do it for me because of something I did for them...

[incka]

What did you do for them?

[Blue Cat Buxton]

Back on topic... :)

Have you looked at Citibank? They do multiple currency accounts, but you need to pay a certain amount in each month

[incka]

How much? I get a few thousand $ a month but I don't like cashing every month...

[Best.Flash]

I use The Bank of Scotland for my company account and found that if I hold over cheques, that is pay in a load in one go I only get charged one processing fee - £7.50 they're rate's ok too (1.7 > 1.8).

[MarkB]

You should also check with HSBC. Or, check an actual US-based bank, if you don't mind flying there to open an account ;)

[incka]

I wish paypal accepted cheques...

[AndyH]

USD to AUD is great. :D

[MarkB]

Not as great as it used to be though, right?;)

I remember freelancing for a UK company when living in Australia, when the aussie dollar was quite low. I did well out of that :)

[AndyH]

I didn't make any money when it was pretty much USD * 2 = AUD ... it is getting better (that is, AUS dollar getting worse) which is great however. :)

[incka]

The UK pound is too strong. I really want an international currency. Interesting article: http://www.theunionleader.com/articles_showa.html?article=40597

[intelliot]

Dealing only in USD, I miss out on having all this fun with currency exchange...