Dollar Accounts - Offshore Savings | moneyfacts.co.uk

Best Buy – Offshore US Dollar Savings Accounts

  - Compare offshore savings accounts that allow you to make deposits in US dollars, and will pay you interest in that currency too.
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Compare the Best US Dollar Offshore Accounts

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AER Notice / Term Minimum Investment Search all 154 accounts
 

1.20%
196 Day US$10000 Details...  

1.10%
Instant US$100000 Details...  

1.00%
96 Day US$10000 Details...  

0.80%
36 Day US$10000 Details...  

0.70%
95 Day US$50000 Details...  

0.65%
31 Day US$50000 Details...  

Moneyfacts.co.uk Best Buys show the best products chosen by our independent experts. Where we have been able to we have also provided a link for you to open an account today. Products shown with a yellow background are sponsored products.

Disclaimer:
All rates subject to change without notice. Please check all rates and terms before investing or borrowing.
 

What are offshore US dollar savings accounts? 

A US dollar savings account is simply an account that lets you make deposits and earn interest in dollars. You can open savings accounts denominated in US dollars from some UK banks and building societies, with most offshore banks offering this too.

Who might open an offshore US dollar account? 

  • US nationals living and working in the UK or abroad
  • Those who own properties or business in the US
  • Those paid in US dollars

The big advantage of having a US dollar savings account is that your currency isn’t converted. So if you are paid in US dollars, you don’t have to pay foreign exchange charges, or risk losing out if the exchange rate isn’t favourable with the country you are living in.

Depositor protection schemes in crown dependencies

warning signFunds kept offshore don't fall under the UK Financial Services Compensation Scheme, even if your bank is a subsidiary of a UK bank or building society. Depending on where the bank is licenced you might be protected by a scheme in that jurisdiction.

Gibraltar
Gibraltar
100% of the total of all qualifying deposits up to a maximum of €100,000 (or US dollar equivalent) via the Gibraltar Deposit Guarantee Scheme.
Guernsey
Guernsey
First £50,000 (or US dollar equivalent) per individual claimant per licensed institution via the Guernsey Banking Deposit Compensation Scheme.

Isle of Man
Isle of Man

Depositors' compensation scheme (DCS) that compensates up to £50,000 (or US dollar equivalent) of net deposits per individual depositor.
Jersey
Jersey
Depositor's Protection Scheme. Individual depositors are protected up to £50,000 (or US dollar equivalent) per person per Jersey Banking Group.

Find out where an offshore bank is registered, and the relevant compensation scheme in our depositor protection scheme guide.

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