USD bank account

bilbot79

Hi

I need to have a USD bank account to receive some fx and then make a payment to the usa but I've heard they can be expensive. Anybody any ideas on how to get around it?

bilbot79

bilbot79 wrote: »

Hi

I need to have a USD bank account to receive some fx and then make a payment to the usa but I've heard they can be expensive. Anybody any ideas on how to get around it?

Open one with AIB and it was very easy. Just go into the bank and they'll have it set up in a week. Only issue is there's no online access or debit card. You have to make transfers over the phone.

JTMan

Investec and PTSB also offer retail USD accounts.

Arbie

If you are going to be in the US at any stage it is easy to open a free USD current account with Bank of America. You need your Irish passport and ideally an address in the US, which can be care of a friend/relative. It is totally above board and BofA are used to this and easy to deal with. I know several other Irish people who have done it. No fees and you can do most things online. You can even deposit cheques with their phone app.

jackinthemix94

Arbie wrote: »

If you are going to be in the US at any stage it is easy to open a free USD current account with Bank of America. You need your Irish passport and ideally an address in the US, which can be care of a friend/relative. It is totally above board and BofA are used to this and easy to deal with. I know several other Irish people who have done it. No fees and you can do most things online. You can even deposit cheques with their phone app.

I think BoA have $6 a month fees on their accounts now. TD Bank are free if you're on the East Coast as long as you keep $100 min deposit.

Arbie

jackinthemix94 wrote: »

I think BoA have $6 a month fees on their accounts now. TD Bank are free if you're on the East Coast as long as you keep $100 min deposit.

You're right, it looks like BofA got rid of the free accounts. The ones we have are fee-free online-only where you have to pay fees if you go into a branch. Ours are still active and no mention of fees yet thankfully.

You could also try Capital One - I had an account with them before and they were good. Not sure if they still do free accounts.

lcwill

I also have one with AIB. They set it up very quick and it doesn't cost anything.

I can see it in my online banking but have to call to make transfers.

They normally want to know why you need it - i.e. you should be making/receiving payments regularly in USD