How to deal with salary paid from US company?

Hi there,

Need some general and fast advice - my husband and I are returning to UK VERY soon- he will still be working for his US employer and being paid in dollars.  As he will be our earner until I find work, we need to have relatively easy access to the money in the UK- what would be the best way to deal with the money?  Is it possible to set up a direct deposit from a US employer to a UK bank account? We will still have US accounts.  Any help you can provide would be appreciated.  We were initially looking at HBOS US dollar account which is held offshore, but am worried now that last week the news reports were saying that HBOS may be having financial issues.

Thanks,
Weegiewife

Edited to add that we have both US accounts and UK accounts already

If you can find a HSBC they have american branches (I don't know which cities in the US) but if you could open an account in the UK you might be able to sort out with them how the employer would pay into an US account and possibly would not cost you much to draw on this side if anything, you can use your cash cards here but you need to ask your bank to make sure they will allow you to do this. The other thing is if you can do on line banking use a credit card here and pay with your on line and just draw a small amount each month till you get sorted with a job.

Its hard but you also have to consider the rates at the moment also as the exchange has gone up in the UK and you will lose when you exchange to UK money.

Good luck
Indy

If you have on line access to your US account then can't you just transfer between them when you need to (shouldn't cost anything) and use ATM machines (which may cost a little, depending on your bank)?

Vicky

I agree with Vicky

You'll have to watch that you both get contracts of employment compliant with English/Scottish law; that the US tax withholding ceases and that your employers both manage to handle their UK PAYE obligations.  Because UK withholding is generally higher than US you may need to budget for having less money after tax.