'm also worried about future currency fluctuations as all my money is held in sterling. Unfortunately, I cannot find a high street bank able to open up a USD account.
So, are the rates and charges on Monzo competitive enough that I could use it to convert money from GBP to USD (let’s say £10,000 for argument’s sake) in order to reduce my exposure to GBP?
Any suggestions for best way to do this are welcome.
I’d guess Revolut would be the simplest way to convert money to USD and hold it there, but make sure you’ve got up to date proof of funding etc , as transferring such a big amount to Revolut would trigger AML , Revolut are known to lock accounts easily, even for way less than 10k
Although I wouldn’t be too worried as long as you’ve got proof of funding, if it does get flagged you’ll get it unlocked but it would be a pain in the arse to say the least going by other people experiences,
I’d be interested if anyone has a better way to convert to USD and hold it.
Edit , maybe TransferWise borderless account is your best option.
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