US Bank Account Question...

I have some money in an account in the US, its only a small amount, about $2k, but its a sort of mad money account. My mother puts in any gifts that I receive from family members. Things like that...now I am looking to open an account that I can access from the UK on a cash/debit card status.

Anyone have any suggestions?

I have the same thing almost, just an account that friends & family put money into instead of sending pressies for my daughter and I've had no problem accessing it with my check card/debit card from her via cash machine or at the till.

I guess I am confused as to what your question is.

Racheee, is your US account a checking account or savings account?  If its a checking account, I think you should be able to use your debit card here, although you may incur fees.

If its a savings account, I'm not 100% sure but you might be able to use PayPal or something to withdraw funds.

I have a similar account that I use as my US fund so when we go back to NJ, everything we buy while we're there comes out of that account and can't 'hurt' us in the UK.  DH wants me to bring the money here but I really like having it there.

I believe that a Bank of America account will allow you to use your ATM card at Barclay's ATMs for free.  You can open one on-line, but you will need an address in the US to have stuff sent to.

I believe that a Bank of America account will allow you to use your ATM card at Barclay's ATMs for free.  You can open one on-line, but you will need an address in the US to have stuff sent to.

Thanks for that, thats really helpful! What is the account called?

I have a similar account that I use as my US fund so when we go back to NJ, everything we buy while we're there comes out of that account and can't 'hurt' us in the UK.  DH wants me to bring the money here but I really like having it there.

Not sure what you mean by "hurt".  You are taxable in the UK if the account includes interest dividends or other income and you buy stuff in NJ that you bring to the UK.  You may also have a reportable foreign currency gain on your UK tax returns (because Sterling has fallen in value).

Thanks for that, thats really helpful! What is the account called?

It's any Bank of America account, so just open a regular checking account if you can (with a US address) and withdrawals at Barclays are fee-free!

It's any Bank of America account, so just open a regular checking account if you can (with a US address) and withdrawals at Barclays are fee-free!

Thanks! I can use my parents address, all my us stuff is located there!

It's any Bank of America account, so just open a regular checking account if you can (with a US address) and withdrawals at Barclays are fee-free!

Does this also apply to any conversion charge they might have for converting dollars to pounds? Or is it just the ATM fee that isn't charged? I'm thinking it might not be a bad idea to open a second checking account there now just to have in the future...

We have BoA accounts and withdraw cash at Barclay's.  We don't get any ATM fees or conversion fees.  And the exchange rate we get it usually within a cent or two of the actual conversion rate.  The only time we've gotten conversion fees is when we've used our check cards to pay for something directly (like having them swipe it at Tesco).

We have BoA accounts and withdraw cash at Barclay's.  We don't get any ATM fees or conversion fees.  And the exchange rate we get it usually within a cent or two of the actual conversion rate.  The only time we've gotten conversion fees is when we've used our check cards to pay for something directly (like having them swipe it at Tesco).

Very cool! Thanks!

Not sure what you mean by "hurt".  You are taxable in the UK if the account includes interest dividends or other income and you buy stuff in NJ that you bring to the UK.  You may also have a reportable foreign currency gain on your UK tax returns (because Sterling has fallen in value).

I meant it doesn't come out of our UK bank account. 

I'm with Century Federal Credit Union (it works on a Grandfather system for Federal / Government Employees).  I can make withdrawls at any ATM in the UK fee free, however I'm limited to cash withdrawls of $300 / day without incuring penalty (no limit on purchases).  No currency exchange fees either.

agree with BoA & Barclays.  Only thing- last time I checked BoA charged a monthly fee, if you didn't have a monthly direct deposit.

I changed to Schwab Checking Account.  They don't charge a monthly fee.  They don't charge to use ATM anywhere in the US.  Not sure what they do for international withdraws (only use it in the US).