US Dollar account in UK

[Paddyshack]

Does anyone have any recommendations on the above. Am I right in believing that if I go for DVC that it would make life much easier to have a dollar account?

 

[Richard Bruvofetc]

Does anyone have any recommendations on the above. Am I right in believing that if I go for DVC that it would make life much easier to have a dollar account?

I'd also be interested in this as well.

 

[Claire L]

I know Citi Bank run an account at $20 a month or free if you have a £ account as well with a minimum balance.

Claire

 

[mikki.young]

I've had the citibank account for a few years and it is great for us. We get a dollar check book and a debit card that can be used for sterling or dollar accounts (or euros!). You just have to remember to get them to 'point' the card at the right currency before you go abroad. They recently changed how the account works and there is a monthly charge for a basic account but you get extras like some other banks accounts - travel insurance and suchlike. I have some friends that only have currency accounts and not sterling and I think that still works on the minimum balance idea.

I like being able to buy dollars when the rate is good and then get paid interest on them. We get cash and travellers checks for no charge and use them as back up with the card as our main way of spending in the US. So much easier! Oh, and I did use it to pay the DVC dues online as well.

 

[BevS97]

I don't think there is any need for a US bank account, we pay our dues online using our debit card - it comes straight out of our UK bank account, no hassle.

 

[Minniespal]

We have a Citibank account which we use for paying our dues and also for keeping money in when we are in the USA. Very handy particularly with the recent favourable £/$ rate

 

[TinkTatoo]

We have a $$ accont in the US which we opened with Wachovia. It's free to run and has on-line banking so you can check your account on line, you get a check book and a visa debit card. While you don't have to have an account in $$ it is a lot easier with one. I use it to pay dues and for my spending money when we are away which saves carrying a lot of cash or travelers cheques. You can pay $$ into it when the rate is good so you'll always get the best rate on your $$

 

[Paddyshack]

We have a $$ accont in the US which we opened with Wachovia. It's free to run and has on-line banking so you can check your account on line, you get a check book and a visa debit card. While you don't have to have an account in $$ it is a lot easier with one. I use it to pay dues and for my spending money when we are away which saves carrying a lot of cash or travelers cheques. You can pay $$ into it when the rate is good so you'll always get the best rate on your $$

Do you need a US address to open one of these accounts? I have been looking at Isle of Man acc's but these can not be used for cash withdrawals in the US. A US bank account would be much easier. As far as I can see the Citi bank a/cs are for UK residents only.

 

[TinkTatoo]

Do you need a US address to open one of these accounts? I have been looking at Isle of Man acc's but these can not be used for cash withdrawals in the US. A US bank account would be much easier. As far as I can see the Citi bank a/cs are for UK residents only.

No - I just took my passport and $100 and opened the account there and then. They gave me a check book and details to access the on line banking and posted the visa debit card to my home. We've had our account for a couple of years and that's all we did but someone on another board recently mentioned that they have to have a bank letter as well. I don't know what that is so the best bed would be to check out Wachovia and see if there is any details on there.

It's great being able to take advantage of the good $$ to €€ rate at the moment and sending the funds from my bank here to the US is very easy. It takes about 3-5 days for the funds to arrive and my bank charge about €10

 

[Paddyshack]

I spoke to Wachovia. No problem to open the account just need the following


"
A signed, written request to open the account.
- Copies of all pages of a valid passport, with the first three pages
authenticated by the US Embassy or Ministry of Foreign Affairs.
- Photocopy of a valid driver's license or primary identification card.
- Bank references - two letters of recommendation from an overseas or US
bank where the customer has maintained a relationship for more than one
year."


All striaghtforward enough. ( Except the trip to Dublin for the authentication of passport. I can't see myself making a special journey just for that.) They unfortunately will not accept any other authentication from banks, garda etc. I think I will wait until I am next over there and take the risk on the exchange rate.