US dollar savings accounts
Open a US dollar currency savings account
Many of our clients have a US dollar savings account because they are paid in US dollars or run their international business in US currency. They are often international clients who are living and working in the UK or abroad, or US citizens living and working outside the US.
Also, because so much international trade is carried out in US dollars, the need for US dollar savings accounts is nearly universal. Barclays international banking offers both US dollar savings and current accounts.
All of our US dollar accounts can also be held offshore, with all the potential financial and tax planning benefits that this offers. Find out more about our US dollar savings accounts.
US dollar savings accounts benefits
These apply if you are paid in US dollars, make payments in US dollars or have US dollar-based assets and investments.
A US dollar savings account could help to keep your foreign exchange costs and account administration charges down. With fixed term and guaranteed return products like our Treasury Deposits, you'll also avoid the risks of changes in currency interest rates.
And if you hold your US dollar savings accounts offshore, you'll enjoy the usual benefits of worldwide accessibility to your money, opportunities to plan your tax affairs more flexibly and access to other more flexible financial planning.
The fact that the US dollar is still the world's premier reserve and trading currency is also a good recommendation for holding one of our US dollar savings accounts.
US dollar savings accounts features
The US Dollar savings accounts we currently offer are:
- Liquidity Management Services
- Currency Call Deposits
- Treasury Deposits
You may be interested in long term cash returns with our Liquidity Management Service, though this is only open to you if you have the US dollar equivalent of £1,000,000 or more to invest. Liquidity Management Service provides an accessible, low risk and tax-efficient way to manage your money and provide competitive rates of return.
You can also put your US dollars in Treasury Deposits, with their guaranteed returns on longer term investments. For easy access to your dollars worldwide, we provide Currency Call Deposits.
If you don't require everyday banking services (like a current account), just access to our savings and investment products, we recommend iBank Saver or our Relationship Manager Service. Click here for more information.
Offshore bank accounts in multiple currencies
When you bank offshore with Barclays international banking, you can hold investments, savings and bank (cheque) accounts in a variety of currencies. You can have instant access to your money and the ability to conduct all your international transactions easily.
We can also provide access to our International Investment Managers to help make your savings more rewarding, as well as refer you to our preferred tax advisers, Ernst & Young, who can help with your tax planning needs.
All our accounts are based on our International Bank Account, but offer tailored levels of products and services. Choose from:
Relationship Manager Service
A personal, tailored service with your own Relationship Manager to help you make the most of your wealth. You can opt for our fee free Relationship Manager Service, to qualify you must deposit and maintain a balance of £50,000 or more (or currency equivalent) in cash or investments with us, or if you have come to live in or are moving to the UK, deposit an annual individual gross income of £150,000 or more (or currency equivalent) into Barclays international bank accounts.Click here for more information.
Our entry-level international banking service that offers a comprehensive range of banking and investment services, available for just £5 a month (US$8.50 or €7.50). To qualify you must deposit and maintain a balance of £5,000 or more (or currency equivalent) in cash or investments across your Barclays international banking accounts.Click here for more information.
US dollar exchange rate
Whichever US dollar deposit or savings account you opt for, a US dollar account can help protect your wealth from exchange rate fluctuations if you run a US dollar based business, or have assets and property in US dollars.
- You'll reduce your exchange rate risk by keeping your funds in the currency in which you receive them or need to pay suppliers or other financial commitments
- There is no need to convert your funds into dollars or buy currency to make purchases from US dollar companies. Just use your US dollar savings account to match incoming and outgoing funds.
You have sole responsibility for the management of your tax and legal affairs, including making any applicable filings and payments and complying with any applicable laws and regulations. We have not provided and will not provide you with tax or legal advice and recommend that you obtain your own independent tax and legal advice tailored to your individual circumstances.
† Lines are open 24 hours a day, 7 days a week except for 25 December when the lines are closed. Call costs may vary - please check with your telecoms provider. Calls may be recorded so that we can monitor the quality of our service and for security purposes.
The products and services described on this page are provided by the following companies, which are part of Barclays: Barclays Bank PLC in London and Barclays Private Clients International Limited in the Isle of Man, Jersey and Guernsey. For further Information on these companies and Barclays please read the Important Information.
Products and services on this site may not be available in certain jurisdictions. In particular, these products and services are not being offered in Japan or the United States or to US residents. For full details of exclusions and disclaimers please see the Important Information before proceeding. Each Barclays company reserves the right to make a final determination on whether or not you are eligible for any particular product or service.