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Making Usd Payments From The Uk

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I run my own Business and while the majority of our Customers are in the UK and pay us in sterling, some of the team and most of the Suppliers are paid in USD.

We used to make these payments with our business account visa debit card. However Lloyds have decided that in addition to the 2.75% they take on these they will also help themselves to another £1 per transaction.

This doesn't mater too much if the transaction is, say, $2000. However if it's for $10 it does matter since we have about 50 of those a month.

Since there are quite a few knowledgeable people on here I thought I'd ask: would we be better off getting an account with a US bank with a visa debit card (I think they call then Visa checking cards) and periodically transfering a few thousand into that and chipping away at the balance, or is there another option?

(Clearly one of the options is to change bank which is one thing I'm looking at at the moment!)



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I have set up forex accounts for making payments with AMEX, Travelex, Ruesh and Customs House who seem best of the lot. I phone them alland play them off to get the best rate. You always get a much better rate than the bank and I reckon a huge saving over a debit card. Send me a PM if you need more info. (I have no vested interest in any of those companies, just offer to help a fellow poster).



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  • 336 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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