USD Bank Accounts

[MahoganyVic]

Friend of mine is doing work for an American company and is getting paid in USD. At the moment its just going in to his normal bank account and he's getting charged with every deposit.

Any advice on the best USD bank accounts available for people in the UK?

Have searched the archives but most of the info seems a few years old, apologies if i've missed anything!

[DaveShoelace]

I have a citibank account. I can do/get instant cash transfers from US accounts, while at the same time am able to instantly transfer it into my UK account. The exchange rate has always been good and on a couple of occassions been more favourable than the rate on XE.com (allbeit by a few pence). You don't get charged, you cant use the card you get as a credit card, but you can use it to withdraw money when in the US.

[redsimon]

Got a wells Fargo account when I was in Las Vegas, minimum cash to keep in for no charges is $1500 but its useful to use out there.

[MahoganyVic]

Great, thanks very much for the info

[redarmi]

Got a wells Fargo account when I was in Las Vegas, minimum cash to keep in for no charges is $1500 but its useful to use out there.

How did you manage that without a Social Security number?

[Royal Flush]

Got a wells Fargo account when I was in Las Vegas, minimum cash to keep in for no charges is $1500 but its useful to use out there.

How did you manage that without a Social Security number?

I had a BoA without a SSN

[technolog]

I believe you only need a SSN if the account is interest-bearing. Not having a US address could possibly be more problematic.

[redarmi]

The address is no problem I just dont have the SSN right now and have always been told that it isn't possible.  Guess it is just a case of talking to someone at a bank that knows what they are doing.

[redsimon]

Got a wells Fargo account when I was in Las Vegas, minimum cash to keep in for no charges is $1500 but its useful to use out there.

How did you manage that without a Social Security number?

Don't really know. I had a decent win a few trips ago and thought it was a ball ache carrying it around so popped into the branch downtown next to the Walgreen I bought my sarnies and juices from . I told them I was UK resident, fully expected them to say no but they were cool. They have my UK address and I got interest on a savings account I opened too, completed some tax forms last year. I manage the account online and use it when Im in Vegas OK.