UK Webmasters: Which bank do you use?
 

My bank (Barclays) has raised its charges so they now take 0.25% of the total value of all USDollar checks I pay in (even though I have a USDollar account). I'm sure I could get a better deal if I moved. Who do you guys use?

If you are getting the cheques in your personal name (ie you don't need a business account) then Citibank offer a US dollar account with no charges for dollar cheques. You get a cash card, or you can run it alongside a Citibank UK Sterling account and move the cash between the two (no charges) to support your Visa Delta and chequebook in Sterling. Nice internet banking as well.

Cheers
Ardy

URL: http://www.citibank.co.uk

Thanks Ardy. We currently have a business account but I would consider restructuring if it meant I could pay no fees. We're wasting thousands to Barclays at the moment.

Do Citibank make the funds available straight away or is there a long clearing period?

Chris

I am with Lloyds, with a Sterling account. They charge I think £8 per *deposit* of dollars... So if you deposit $20 or £50,000 in one check, or in fifty, they charge £8. Deposits take up to a week to go through.

Does anyone know how the major high streek banks compare?

Offshore Banking - do a search for UK.

If you are pushing large sums of money into a UK bank and not declaring anything to the taxman then its only a matter of time before the shirt comes off your back.

Thanks Gothweb. Barclays used to charge in the same way (though £9 instead of £8) but they say this new 0.25% is fairer. Doesn't seem fair to me as my last deposit cost £84 instead of £9!

I pay my tax like a good boy.