I get paid in dollars for various bits and peices I do and end up paying around £7 a go to have this paid into a UK GBP account.

I'm going to set up a dollar account but my Bank (Barclays) only pay 0.25-0.5% inetrest.
Anybody know of any better deals around (I trade as a limited company)?

Thanks in advance

Apparantly halifax do not charge for $ cheque deposits. IIRC.

I know of some people on another forum have used this company to cash $ cheques. The rate is not very good, but the charge is only 95p per batch of cheques, not £7 each so you would need to work out whether it is economical for you circumstances.

http://www.auctionpix.co.uk/misc/money.html

Citibank will do it but you will need to keep £2000 or so in the account and it pays no interest, I believe.

Thanks for the reply. However, I'm thinking more of keeping the money in dollars as I think it's going to get a lot stronger against the pound over the next few months.

So basically a UK based account in US dollars that pays more than 0.5% interest.

Citibank cash cheques for free, even though they pay no interest and you have to keep 2k in balance.

Also, www.lowtrades.com a low cost internet broker allow you to open a US dollar chequing account, which pays money market interest rates (1% below the Fed rate).

Also, Paypal now have the one of the best US dollar money market accounts around. Currently paying 3%pa. I think its open to UK citizens you will have to check. http://www.paypal.com/cgi-bin/webscr?cmd=_...arcom&outside=1

Thanks for the replies.
I just found one at the Nationwide that actually pays over 2.5% interest and I beleive it tracks the US IRs
http://www.nationwideinternational.com/acc...llar_glance.htm

I used to receive my salary in USD and I used Citibank for its competetive exchange rates (only 0.9% lost in the spread, often a lot less).

Watch the exchange rates when converting to GBP: you can lose a lot more in this way than you'd make up in USD interest.

Citibank IS a UK based dollar account but it pays no interest, I believe.

I like the look of this.Thanks surfgatinho.

Open up an account with the Bank of America

Pay the money into that account

Use the ATM card they give you at a Barclays ATM in the UK

Withdraw £250 - £300 a day at a great rate with no ATM fees (usually $2)

Well that's what I do anyway...

Did you open this up when you were in the US with a US address, or can you open one from the UK?

I opened it up when I was in the USA however email them asking to open an account.

I can't see why they would refuse you.

There is a new Patriot law that was put in place a couple of years ago making it harder to open an account to overseas customers but not impossible.

I benefit from my payment coming in via Paypal so I get paid in pounds, exchange it in Paypal to dollars then withdraw it...then I wait until the rate is favourabl and withdraw it for example I made 10 cents on every £1 in the last 2 weeks due to the strong dollar

try citibank free usd savings a/c have a gbp too then transfer all free they sometimes have offers and pay you to open an a/c

But did you have a US address at the time? Or did you just walk into a US bank, but open it giving your UK address?

Thanks
Paul.