[rovers_andy]

Can anyone reccomend a bank or bank account that wont drop my trousers and roger me with charges and a poor exhange rate for being paid in Dollars but spending in Pounds?

Lloyds TSB are out of the question as they are bunch of cunts.

Starting new job at the end of the month so hoping to get this sorted sharpish.

Cheers

Andy

[xenon]

I get some salary paid in USD too and it's a pain because all the banks will shaft you As it's only part of my salary I just pay it into a US account and spend it when I'm in the US but I realise that's probably not appropriate for you. If I do wire USD funds to my UK bank they levy all sorts of unjustifiable charges because they are, as youy say, a bunch of c*nts.

[AlwynMike]

Have you thought about an offshore account - Jersey or Isle of Man??

Jersey used to be the place to put your $, but it may have changed now.

Mike

[creepy coupe]

Could the funds be paid to a credit card account. Or would they still have you Alan's down?

[xenon]

Originally Posted by AlwynMike

Have you thought about an offshore account - Jersey or Isle of Man??

Jersey used to be the place to put your $, but it may have changed now.

Mike

Not if it's your actual income / salary that you need to spend on a day-to-day basis. If the Company that's paying you in USD is based in the US make sure you fill in a W8 form for foreign tax witholding so the IRS are happy. You'd then have to declare your income to HMRC on your tax return as PAYE wouldn't apply.

[chrisbin]

Andy, think we can help, you have PM!

[kaishang]

What ever you do, don't use HSBC, they are totally incompetent. They have messed up for me in several countries, so it is not an isolated problem.

You need a bank with multiple currency accounts, so you can choose when and how much USD to transfer to GBP. It does not particularly matter which country that bank is. Although if you are non-resident in the UK for tax purposes then I would choose an overseas bank.

[nicktyler]

If you don't want to use Lloyds based on the fact they are a bunch of cants then you might find you can't use any bank.

[rovers_andy]

Originally Posted by nicktyler

If you don't want to use Lloyds based on the fact they are a bunch of cants then you might find you can't use any bank.

The reason i don't want to use Lloyds is they were very happy with me when they have my savings, the one time i need an overdraft in an emergency they wouldn't help..........

[rovers_andy]

Originally Posted by kaishang

What ever you do, don't use HSBC, they are totally incompetent. They have messed up for me in several countries, so it is not an isolated problem.

You need a bank with multiple currency accounts, so you can choose when and how much USD to transfer to GBP. It does not particularly matter which country that bank is. Although if you are non-resident in the UK for tax purposes then I would choose an overseas bank.

Yep non resident for tax, hadn't thought of a foreign bank.....

[rovers_andy]

Originally Posted by chrisbin

Andy, think we can help, you have PM!

Hi Chris, thanks for that

been away working so will get back to you next week

[chrisbin]

Originally Posted by rovers_andy

Hi Chris, thanks for that

been away working so will get back to you next week

[Jon D]

Originally Posted by kaishang

What ever you do, don't use HSBC, they are totally incompetent. They have messed up for me in several countries, so it is not an isolated problem...

Sorry to hear you've had bad experiences with HSBC; mine is completely to the contrary. I spent the last nine years of my working life in Bahrain and had a local account with them, into which part of my salary was paid in BH Dinars.
I frequently made 'SWIFT' transfers between Bahrain, Jersey and the UK without any problems whatsoever and always felt the exchange rate was fair.
I was sufficiently impressed with HSBC to make them my main bank when I returned to the UK in 2009 and, three years on, I'm still very satisfied with the personal service I receive.

[Jon D]

Originally Posted by nicktyler

If you don't want to use Lloyds based on the fact they are a bunch of cants then you might find you can't use any bank.

Many a true word is spoken in jest

[rovers_andy]

Originally Posted by Jon D

Sorry to hear you've had bad experiences with HSBC; mine is completely to the contrary. I spent the last nine years of my working life in Bahrain and had a local account with them, into which part of my salary was paid in BH Dinars.
I frequently made 'SWIFT' transfers between Bahrain, Jersey and the UK without any problems whatsoever and always felt the exchange rate was fair.
I was sufficiently impressed with HSBC to make them my main bank when I returned to the UK in 2009 and, three years on, I'm still very satisfied with the personal service I receive.

I have to say HSBC are looking a good bet at the moment

Will see what they say on Monday

[kaishang]

Don't do it dude, there are plenty of banks that offer what HSBC claim to offer but they actually do it without screwing up. Been there, done that with HSBC in 5 countries: no more.

[kaishang]

I've long ditched HSBC due to them being hopeless. But last year I did a short job in China and the client banked with HSBC.

When it came for me to get paid I provided my account details. The payment since it was in USD had to go through HSBC USA as a correspondent bank even though it originated from HSBC China.

HSBC China sent the money to HSBC USA. HSBC USA then sent it to my personal account.

Only they forgot to include my branch ID in the transfer. Even though I provided it. Even though HSBC China gave it to HSBC USA. So the payment was sent with an account number, but no branch ID. Without the branch ID, my Commonwealth Bank in Aust rejected it due to insufficient information.

For about 2 weeks, HSBC claimed they had sent it correctly. Only when I got Commonwealth Bank to contact HSBC reminding them they had a rejected payment sitting back in their account, did they notice it was there.

So then HSBC sent it again. This time they got it right, except they dis charge a second transfer fee even though it was their mistake.

Telegraphic transfers are the bread and butter of banks. If HSBC can't include all my account details when they do it, what else do you think they cock up?

If you want a big international bank, Citibank or Standard Chartered can help you out, without screwing up.

[rovers_andy]

Hmmmmm, food for thought. HBOS seem reasonable too, once they decided to take me seriously.............Do banks think only people in suits and ties are worthy of their business?

[chrisbin]

Banks are best left as places to simply hold accounts.....leave the actual transactions to people who know what they are doing, take more care, and don't make silly charges!!

[davidmleckie]

Originally Posted by rovers_andy

Can anyone reccomend a bank or bank account that wont drop my trousers and roger me with charges and a poor exhange rate for being paid in Dollars but spending in Pounds?

Lloyds TSB are out of the question as they are bunch of cunts.

Starting new job at the end of the month so hoping to get this sorted sharpish.

Cheers

Andy

Hi Andy,

I also get paid in USD, Im with Santander and they dont charge anything, the money goes into my account at the end of the month at the exchange rate of that day. hope this helps and good luck with the new job.